Spread before costs (cost unknown: a leg has no order-book sample)+0.247%
7d average+0.120%if it closes, per $10,000$25funding while held, a day+$2.48
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Ondo Perps MSTR-USD.P | 165.61 | 0.0050 | pay 0.0006% / 1h | 7m 25s | $778K | $4.7M | 10x |
| Short | Variational Omni MSTR | 166.02 | 0.0133 | get 0.0133% / 8h | 6h 07m | $1.2M | $2.3M | — |
Ondo Perps MSTR-USD.P
Variational Omni MSTRPrice 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
- $24.7
- Funding while held
- $2.48
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- $22.19
- Spread needed to break even
- 0.050%
Slippage unknown: Ondo Perps: no order-book sample; Variational Omni: RFQ quote, 3 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0083%
- Per $10,000 a day
- +$2.48
- 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 Variational Omni RFQ quote, 3 min ago | 2.98 bp | doesn't fit | 7.2 bp −$72 | 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.Phemex165.28cheapestNado165.41+0.078%Vest165.43+0.091%Extended165.46+0.108%Pacifica165.47+0.118%Paradex165.49+0.128%KuCoin165.50+0.133%Aster165.51+0.139%RISEx165.51+0.142%Lighter165.53+0.151%Coinbase International165.53+0.151%Gate165.54+0.157%tradeXYZ165.55+0.163%ApeX Omni165.55+0.163%Polymarket Perps165.55+0.163%SoDEX165.55+0.163%QFEX165.56+0.169%Binance165.57+0.174%Bitget165.57+0.175%Phoenix165.57+0.175%Arcus165.58+0.182%OKX165.59+0.188%
Phemex
Nado
Vest
Extended
Pacifica
Paradex
KuCoin
Aster
RISEx
Lighter
Coinbase International
Gate
tradeXYZ
ApeX Omni
Polymarket Perps
SoDEX
QFEX
Binance
Bitget
Phoenix
Arcus
OKXOndo Perps165.61+0.200%
Aevo165.62+0.203%Orderly165.62+0.206%Deribit165.62+0.206%Bybit165.65+0.224%BloFin165.65+0.224%edgeX165.67+0.233%Injective165.77+0.296%
Aevo
Orderly
Deribit
Bybit
BloFin
InjectiveVariational Omni166.02+0.447%
MSTR on 31 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Phemex MSTRUSDT | −0.199% | 0.0000% | 4h | $2.8M | $44K | 10x | as long as short |
| Nado MSTR-PERP | −0.121% | +0.0046% | 1h | $123K | $242K | 3x | as long as short |
| Vest MSTR-USD-PERP | −0.109% | +0.0046% | 1h | — | $1.8M | 25x | as long as short |
| Extended MSTR_24_5-USD | −0.092% | +0.0032% | 1h | $574K | $2.1M | 10x | as long as short |
| Pacifica MSTR | −0.082% | +0.0100% | 1h | $101K | $153K | 10x | as long as short |
| Paradex MSTR-USD-PERP | −0.072% | +0.0096% | 8h | $66 | — | 5x | as long as short |
| KuCoin MSTRUSDTM | −0.066% | +0.0100% | 8h | $2.5M | $2.6M | 20x | as long as short |
| Aster MSTRUSDT | −0.060% | +0.0184% | 8h | $1.3M | $6.1M | 50x | as long as short |
| RISEx MSTR/USDC | −0.057% | +0.0017% | 1h | $285K | $465K | 10x | as long as short |
| Lighter MSTR | −0.048% | +0.0032% | 1h | $3.5M | $2.6M | 10x | as long as short |
Show all 31 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Coinbase International MSTR-PERP-INTX | −0.048% | +0.0112% | 1h | $1.5M | $1.1M | 10x | as long as short |
| Gate MSTR_USDT | −0.042% | 0.0000% | 8h | $4.8M | $18.9M | 50x | as long as short |
| tradeXYZ xyz:MSTR | −0.036% | +0.0121% | 1h | $56.1M | $32.9M | 10x | as long as short |
| ApeX Omni MSTRUSDT | −0.036% | +0.0100% | 1h | $4K | $1.4M | 50x | as long as short |
| Polymarket Perps MSTR-USD | −0.036% | +0.0050% | 1h | $401K | $2.3M | 10x | as long as short |
| SoDEX MSTR-USD | −0.036% | +0.0050% | 1h | $43K | $3K | 10x | as long as short |
| QFEX MSTR-USD | −0.030% | +0.0041% | 1h | $1.4M | $9.6M | 10x | as long as short |
| Binance MSTRUSDT | −0.026% | +0.0194% | 8h | $88.1M | $590.1M | 50x | as long as short |
| Bitget MSTRUSDT | −0.024% | +0.0240% | 8h | $28.4M | $112.7M | 25x | as long as short |
| Phoenix MSTR | −0.024% | +0.0215% | 1h | $55K | $388K | 10x | as long as short |
| Arcus MSTR-USD | −0.018% | +0.0599% | 1h | $27K | $119K | 10x | as long as short |
| OKX MSTR-USDT-SWAP | −0.012% | +0.0158% | 8h | $22.2M | $101.8M | 50x | as long as short |
| Ondo Perps MSTR-USD.Plong | 0.000% | +0.0050% | 1h | $778K | $4.7M | 10x | |
| Aevo MSTR-PERP | +0.004% | +0.0104% | 1h | $137 | — | 10x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.006% | +0.0100% | 8h | $3K | $12K | 10x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.006% | +0.0717% | 1h | $282K | $487K | 10x | as long as short |
| Bybit MSTRUSDT | +0.024% | +0.0249% | 8h | $15.4M | $41.9M | 50x | as long as short |
| BloFin MSTR-USDT | +0.024% | +0.0318% | 8h | $1.1M | $1.6M | 20x | as long as short |
| edgeX MSTRUSDC | +0.034% | +0.0734% | 4h | $50K | $5.1M | 10x | as long as short |
| Injective MSTR/USDC PERP | +0.097% | +0.0249% | 1h | $12K | $68K | 30x | as long as short |
| Variational Omni MSTRshort | +0.247% | +0.0133% | 8h | $1.2M | $2.3M | — |