Spread before costs (cost unknown: a leg has no order-book sample)−0.114%
7d average—if it closes, per $10,000$11funding while held, a day+$0.36
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_MSTR_USDC_mythos | 167.05 | 0.0100 | pay 0.0100% / 8h | 40m 10s | $3K | $13K | 10x |
| Short | Coinbase International MSTR-PERP-INTX | 166.86 | 0.0112 | get 0.0014% / 1h | 40m 10s | $1.5M | $1.2M | 10x |
Orderly PERP_MSTR_USDC_mythos
Coinbase International MSTR-PERP-INTXPrice 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
- −$11.37
- Funding while held
- $0.36
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$27.01
- Spread needed to break even
- 0.160%
Slippage unknown: Orderly: no order-book sample; Coinbase International: live order book, 5 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0012%
- Per $10,000 a day
- +$0.36
- 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Coinbase International live order book, 5 min ago | 6.86 bp | 11.9 bp −$12 | 15.2 bp −$152 | doesn't fit | doesn't fit |
Orderly: 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.Binance166.84cheapestApeX Omni166.84cheapestBybit166.85+0.006%
Binance
ApeX Omni
BybitCoinbase International166.86+0.012%
tradeXYZ166.88+0.024%Bitget166.89+0.030%Extended166.91+0.045%Phemex166.92+0.048%OKX166.93+0.054%Injective166.94+0.060%KuCoin166.95+0.066%SoDEX166.96+0.072%Lighter166.97+0.078%Gate166.97+0.078%BloFin166.99+0.090%Aster167.04+0.118%Polymarket Perps167.04+0.120%Nado167.04+0.122%
tradeXYZ
Bitget
Extended
Phemex
OKX
Injective
KuCoin
SoDEX
Lighter
Gate
BloFin
Aster
Polymarket Perps
NadoOrderly167.05+0.126%
Aevo167.06+0.133%Vest167.07+0.138%Deribit167.07+0.138%Ondo Perps167.09+0.150%Pacifica167.09+0.151%Variational Omni167.10+0.155%QFEX167.11+0.162%Paradex167.11+0.164%Arcus167.13+0.174%edgeX167.14+0.181%RISEx167.21+0.219%Phoenix167.23+0.235%
Aevo
Vest
Deribit
Ondo Perps
Pacifica
Variational Omni
QFEX
Paradex
Arcus
RISEx
PhoenixMSTR on 31 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Binance MSTRUSDT | −0.126% | +0.0382% | 8h | $89.3M | $530.7M | 50x | as long as short |
| ApeX Omni MSTRUSDT | −0.126% | +0.0100% | 1h | $133K | $2.1M | 50x | as long as short |
| Bybit MSTRUSDT | −0.120% | +0.0243% | 8h | $15.6M | $43.3M | 50x | as long as short |
| Coinbase International MSTR-PERP-INTXshort | −0.114% | +0.0112% | 1h | $1.5M | $1.2M | 10x | |
| tradeXYZ xyz:MSTR | −0.102% | +0.0252% | 1h | $57.1M | $31.7M | 10x | as long as short |
| Bitget MSTRUSDT | −0.096% | +0.0376% | 8h | $29.2M | $110.0M | 25x | as long as short |
| Extended MSTR_24_5-USD | −0.081% | +0.0104% | 1h | $511K | $2.2M | 10x | as long as short |
| Phemex MSTRUSDT | −0.078% | 0.0000% | 4h | $2.8M | $36K | 10x | as long as short |
| OKX MSTR-USDT-SWAP | −0.072% | +0.0324% | 8h | $22.2M | $100.4M | 50x | as long as short |
| Injective MSTR/USDC PERP | −0.066% | +0.0033% | 1h | $12K | $97K | 30x | as long as short |
Show all 31 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| KuCoin MSTRUSDTM | −0.060% | +0.0178% | 8h | $2.6M | $2.6M | 20x | as long as short |
| SoDEX MSTR-USD | −0.054% | +0.0050% | 1h | $44K | $3K | 10x | as long as short |
| Lighter MSTR | −0.048% | +0.0176% | 1h | $3.6M | $2.9M | 10x | as long as short |
| Gate MSTR_USDT | −0.048% | 0.0000% | 8h | $4.9M | $18.6M | 50x | as long as short |
| BloFin MSTR-USDT | −0.036% | +0.0501% | 8h | $1.1M | $1.4M | 20x | as long as short |
| Aster MSTRUSDT | −0.008% | +0.0395% | 8h | $1.3M | $5.9M | 50x | as long as short |
| Polymarket Perps MSTR-USD | −0.006% | +0.0081% | 1h | $409K | $2.1M | 10x | as long as short |
| Nado MSTR-PERP | −0.004% | +0.0076% | 1h | $128K | $260K | 3x | as long as short |
| Orderly PERP_MSTR_USDC_mythoslong | 0.000% | +0.0100% | 8h | $3K | $13K | 10x | |
| Aevo MSTR-PERP | +0.007% | +0.0104% | 1h | $139 | — | 10x | as long as short |
| Vest MSTR-USD-PERP | +0.012% | +0.0046% | 1h | — | $1.6M | 25x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.012% | +0.0769% | 1h | $284K | $456K | 10x | as long as short |
| Ondo Perps MSTR-USD.P | +0.024% | +0.0050% | 1h | $913K | $4.6M | 10x | as long as short |
| Pacifica MSTR | +0.025% | +0.0100% | 1h | $102K | $167K | 10x | as long as short |
| Variational Omni MSTR | +0.029% | +0.0315% | 8h | $1.3M | $2.2M | — | as long as short |
| QFEX MSTR-USD | +0.036% | +0.0057% | 1h | $1.3M | $9.2M | 10x | as long as short |
| Paradex MSTR-USD-PERP | +0.038% | +0.0134% | 8h | $67 | — | 5x | as long as short |
| Arcus MSTR-USD | +0.048% | +0.0705% | 1h | $26K | $123K | 10x | as long as short |
| edgeX MSTRUSDC | +0.055% | +0.0340% | 4h | $62K | $4.6M | 10x | as long as short |
| RISEx MSTR/USDC | +0.093% | +0.0486% | 1h | $305K | $460K | 10x | as long as short |
| Phoenix MSTR | +0.109% | +0.0216% | 1h | $54K | $364K | 10x | as long as short |