Spread before costs (cost unknown: a leg has no order-book sample)+0.048%
7d average+0.138%if it closes, per $10,000$5funding while held, a day−$1.51
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Ondo Perps MSTR-USD.P | 165.91 | 0.0050 | pay 0.0006% / 1h | 24m 58s | $865K | $4.4M | 10x |
| Short | Phemex MSTRUSDT | 165.99 | 0 | get 0.0000% / 4h | 1h 24m | $2.8M | $30K | 10x |
Ondo Perps MSTR-USD.P
Phemex MSTRUSDTPrice 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
- $4.82
- Funding while held
- −$1.51
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$13.69
- Spread needed to break even
- 0.170%
Slippage unknown: Ondo Perps: no order-book sample; Phemex: live order book, 5 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0050%
- Per $10,000 a day
- −$1.51
- 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 Phemex live order book, 5 min ago | 21.41 bp | doesn't fit | doesn't fit | doesn't fit | doesn't fit |
Ondo Perps: 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.Coinbase International165.63cheapestInjective165.73+0.060%ApeX Omni165.82+0.115%
Coinbase International
Injective
ApeX OmniOndo Perps165.91+0.169%
Phoenix165.96+0.197%
PhoenixPhemex165.99+0.217%
Variational Omni166.03+0.244%Extended166.04+0.245%edgeX166.10+0.283%Nado166.13+0.304%QFEX166.15+0.314%Orderly166.22+0.356%Paradex166.23+0.363%Pacifica166.25+0.373%Polymarket Perps166.25+0.374%Arcus166.26+0.380%Aevo166.27+0.387%Aster166.27+0.388%SoDEX166.28+0.392%Vest166.31+0.411%RISEx166.32+0.417%Deribit166.34+0.429%Gate166.35+0.435%tradeXYZ166.37+0.447%Bybit166.39+0.459%OKX166.39+0.459%Binance166.40+0.465%Bitget166.40+0.465%BloFin166.41+0.471%Lighter166.45+0.495%KuCoin166.47+0.507%
Variational Omni
Extended
Nado
QFEX
Orderly
Paradex
Pacifica
Polymarket Perps
Arcus
Aevo
Aster
SoDEX
Vest
RISEx
Deribit
Gate
tradeXYZ
Bybit
OKX
Binance
Bitget
BloFin
Lighter
KuCoinMSTR on 31 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Coinbase International MSTR-PERP-INTX | −0.169% | +0.0160% | 1h | $1.5M | $1.2M | 10x | as long as short |
| Injective MSTR/USDC PERP | −0.108% | −0.0440% | 1h | $12K | $123K | 30x | as long as short |
| ApeX Omni MSTRUSDT | −0.054% | +0.0100% | 1h | $132K | $2.4M | 50x | as long as short |
| Ondo Perps MSTR-USD.Plong | 0.000% | +0.0050% | 1h | $865K | $4.4M | 10x | |
| Phoenix MSTR | +0.028% | +0.0320% | 1h | $54K | $334K | 10x | as long as short |
| Phemex MSTRUSDTshort | +0.048% | 0.0000% | 4h | $2.8M | $30K | 10x | |
| Variational Omni MSTR | +0.075% | +0.0336% | 8h | $1.3M | $2.1M | — | as long as short |
| Extended MSTR_24_5-USD | +0.076% | +0.0032% | 1h | $493K | $2.3M | 10x | as long as short |
| edgeX MSTRUSDC | +0.114% | +0.0400% | 4h | $61K | $4.1M | 10x | as long as short |
| Nado MSTR-PERP | +0.135% | +0.0093% | 1h | $155K | $245K | 3x | as long as short |
Show all 31 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| QFEX MSTR-USD | +0.145% | +0.0057% | 1h | $1.3M | $8.9M | 10x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.187% | +0.0100% | 8h | $3K | $14K | 10x | as long as short |
| Paradex MSTR-USD-PERP | +0.194% | +0.0120% | 8h | $66 | — | 5x | as long as short |
| Pacifica MSTR | +0.203% | +0.0100% | 1h | $102K | $176K | 10x | as long as short |
| Polymarket Perps MSTR-USD | +0.205% | +0.0050% | 1h | $420K | $1.7M | 10x | as long as short |
| Arcus MSTR-USD | +0.211% | +0.0991% | 1h | $26K | $121K | 10x | as long as short |
| Aevo MSTR-PERP | +0.218% | +0.0104% | 1h | $138 | — | 10x | as long as short |
| Aster MSTRUSDT | +0.219% | +0.0442% | 8h | $1.6M | $5.0M | 50x | as long as short |
| SoDEX MSTR-USD | +0.223% | +0.0050% | 1h | $44K | $3K | 10x | as long as short |
| Vest MSTR-USD-PERP | +0.241% | +0.0046% | 1h | — | $1.3M | 25x | as long as short |
| RISEx MSTR/USDC | +0.247% | +0.0566% | 1h | $196K | $392K | 10x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.259% | +0.0833% | 1h | $283K | $450K | 10x | as long as short |
| Gate MSTR_USDT | +0.265% | 0.0000% | 8h | $5.0M | $18.6M | 50x | as long as short |
| tradeXYZ xyz:MSTR | +0.277% | +0.0213% | 1h | $56.7M | $30.0M | 10x | as long as short |
| Bybit MSTRUSDT | +0.289% | +0.0204% | 8h | $15.8M | $41.6M | 50x | as long as short |
| OKX MSTR-USDT-SWAP | +0.289% | +0.0361% | 8h | $21.8M | $97.1M | 50x | as long as short |
| Binance MSTRUSDT | +0.295% | +0.0413% | 8h | $88.5M | $482.5M | 50x | as long as short |
| Bitget MSTRUSDT | +0.295% | +0.0401% | 8h | $28.8M | $106.3M | 25x | as long as short |
| BloFin MSTR-USDT | +0.301% | +0.0537% | 8h | $1.1M | $1.4M | 20x | as long as short |
| Lighter MSTR | +0.325% | +0.0184% | 1h | $3.6M | $2.9M | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.338% | +0.0147% | 8h | $3.2M | $2.1M | 20x | as long as short |