Spread before costs (cost unknown: a leg has no order-book sample)−0.110%
7d average—if it closes, per $10,000$11funding while held, a day+$2.15
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Ondo Perps MSTR-USD.P | 166.20 | 0.0050 | pay 0.0006% / 1h | 29m 00s | $909K | $4.5M | 10x |
| Short | Paradex MSTR-USD-PERP | 166.02 | 0.0122 | get 0.0122% / 8h | 29m 00s | $66 | — | 5x |
Ondo Perps MSTR-USD.P
Paradex MSTR-USD-PERPPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- −$10.99
- Funding while held
- $2.15
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee Paradex: 2 bp × 2 orders
- −$4
- Net
- −$17.84
- Spread needed to break even
- 0.090%
Slippage unknown: Ondo Perps: no order-book sample; Paradex: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0072%
- Per $10,000 a day
- +$2.15
- Average in range /8h
- —
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Ondo Perps no order-book sample | — | — | — | — | — |
| Sell Paradex no order-book sample | — | — | — | — | — |
Ondo Perps and Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
MSTR price on every exchange
against the cheapest. Click to use as the short leg.Phemex166.01cheapest
PhemexParadex166.02+0.004%
Pacifica166.07+0.034%Coinbase International166.13+0.072%QFEX166.15+0.084%
Pacifica
Coinbase International
QFEXOndo Perps166.20+0.114%
Extended166.25+0.146%Binance166.27+0.154%OKX166.27+0.157%Gate166.27+0.157%Vest166.29+0.169%RISEx166.29+0.169%KuCoin166.30+0.175%Nado166.30+0.176%Bybit166.32+0.187%Bitget166.33+0.193%Arcus166.35+0.205%Injective166.35+0.205%Phoenix166.36+0.211%SoDEX166.38+0.223%Aster166.39+0.228%Lighter166.39+0.229%Polymarket Perps166.40+0.235%ApeX Omni166.43+0.253%Orderly166.44+0.259%BloFin166.44+0.259%tradeXYZ166.45+0.265%Aevo166.48+0.286%Variational Omni166.49+0.289%Deribit166.50+0.295%edgeX166.57+0.335%
Extended
Binance
OKX
Gate
Vest
RISEx
KuCoin
Nado
Bybit
Bitget
Arcus
Injective
Phoenix
SoDEX
Aster
Lighter
Polymarket Perps
ApeX Omni
Orderly
BloFin
tradeXYZ
Aevo
Variational Omni
DeribitMSTR on 31 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Phemex MSTRUSDT | −0.114% | 0.0000% | 4h | $2.8M | $36K | 10x | as long as short |
| Paradex MSTR-USD-PERPshort | −0.110% | +0.0122% | 8h | $66 | — | 5x | |
| Pacifica MSTR | −0.080% | +0.0100% | 1h | $102K | $153K | 10x | as long as short |
| Coinbase International MSTR-PERP-INTX | −0.042% | +0.0112% | 1h | $1.5M | $1.2M | 10x | as long as short |
| QFEX MSTR-USD | −0.030% | +0.0057% | 1h | $1.3M | $9.2M | 10x | as long as short |
| Ondo Perps MSTR-USD.Plong | 0.000% | +0.0050% | 1h | $909K | $4.5M | 10x | |
| Extended MSTR_24_5-USD | +0.032% | +0.0064% | 1h | $506K | $2.2M | 10x | as long as short |
| Binance MSTRUSDT | +0.040% | +0.0363% | 8h | $88.4M | $535.0M | 50x | as long as short |
| OKX MSTR-USDT-SWAP | +0.042% | +0.0306% | 8h | $22.1M | $100.8M | 50x | as long as short |
| Gate MSTR_USDT | +0.042% | 0.0000% | 8h | $4.9M | $18.8M | 50x | as long as short |
Show all 31 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Vest MSTR-USD-PERP | +0.054% | +0.0046% | 1h | — | $1.6M | 25x | as long as short |
| RISEx MSTR/USDC | +0.054% | +0.0486% | 1h | $304K | $462K | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.060% | +0.0155% | 8h | $2.6M | $2.6M | 20x | as long as short |
| Nado MSTR-PERP | +0.061% | +0.0053% | 1h | $128K | $257K | 3x | as long as short |
| Bybit MSTRUSDT | +0.072% | +0.0243% | 8h | $15.5M | $43.6M | 50x | as long as short |
| Bitget MSTRUSDT | +0.078% | +0.0362% | 8h | $29.0M | $110.4M | 25x | as long as short |
| Arcus MSTR-USD | +0.090% | +0.0705% | 1h | $26K | $126K | 10x | as long as short |
| Injective MSTR/USDC PERP | +0.090% | +0.0033% | 1h | $12K | $97K | 30x | as long as short |
| Phoenix MSTR | +0.097% | +0.0216% | 1h | $55K | $364K | 10x | as long as short |
| SoDEX MSTR-USD | +0.108% | +0.0050% | 1h | $44K | $3K | 10x | as long as short |
| Aster MSTRUSDT | +0.113% | +0.0370% | 8h | $1.3M | $5.9M | 50x | as long as short |
| Lighter MSTR | +0.114% | +0.0128% | 1h | $3.6M | $2.9M | 10x | as long as short |
| Polymarket Perps MSTR-USD | +0.120% | +0.0050% | 1h | $408K | $2.1M | 10x | as long as short |
| ApeX Omni MSTRUSDT | +0.138% | +0.0100% | 1h | $132K | $2.0M | 50x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.144% | +0.0100% | 8h | $3K | $12K | 10x | as long as short |
| BloFin MSTR-USDT | +0.144% | +0.0483% | 8h | $1.1M | $1.4M | 20x | as long as short |
| tradeXYZ xyz:MSTR | +0.150% | +0.0217% | 1h | $57.1M | $31.6M | 10x | as long as short |
| Aevo MSTR-PERP | +0.171% | +0.0104% | 1h | $138 | — | 10x | as long as short |
| Variational Omni MSTR | +0.174% | +0.0305% | 8h | $1.3M | $2.2M | — | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.181% | +0.0652% | 1h | $283K | $460K | 10x | as long as short |
| edgeX MSTRUSDC | +0.220% | +0.0592% | 4h | $63K | $4.7M | 10x | as long as short |