data as of
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Price arb /

MSTR

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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

After costs, if the gap returns to its 7d average, $10k−$39
spread now+0.047%7d average+0.021%fees + slippage, in and out−$42spread needed0.419%
Long on PacificaShort on Bybit
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPacifica MSTR165.650.0100pay 0.0013% / 1h20m 41s$101K$152K10x
ShortBybit MSTRUSDT165.730.0396get 0.0396% / 8h7h 20m$15.4M$41.5M50x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
$4.71
Funding while held
$8.89
Slippage, 4 orders
−$22.92
Fee Pacifica: 4 bp × 2 orders
−$8
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
−$28.32
Spread needed to break even
0.419%
Slippage from Pacifica: live order book, 23 min ago; Bybit: live order book, 5 min ago.

Cost of waiting

funding view
Funding /8h
+0.0296%
Per $10,000 a day
+$8.89
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Pacifica live order book, 23 min ago1.92 bp6.3 bp −$6doesn't fitdoesn't fitdoesn't fit
Sell Bybit live order book, 5 min ago0.90 bp7.8 bp −$814.9 bp −$14968.8 bp −$6,878doesn't fit

MSTR price on every exchange

against the cheapest. Click to use as the short leg.
Extended165.60cheapesttradeXYZ165.65+0.031%
Pacifica165.65+0.033%
Bitget165.66+0.038%Paradex165.66+0.038%Lighter165.67+0.044%Gate165.69+0.056%Binance165.71+0.068%OKX165.72+0.074%
Bybit165.73+0.080%
KuCoin165.74+0.086%SoDEX165.75+0.092%Aster165.76+0.098%Phemex165.77+0.104%BloFin165.79+0.116%Nado165.80+0.121%Deribit165.80+0.122%Orderly165.85+0.152%Aevo165.86+0.155%Polymarket Perps165.87+0.164%RISEx165.96+0.217%Coinbase International165.97+0.225%Vest165.99+0.237%Variational Omni166.03+0.259%Arcus166.03+0.261%ApeX Omni166.03+0.261%QFEX166.04+0.267%Ondo Perps166.09+0.297%Phoenix166.12+0.316%Injective166.15+0.333%edgeX166.24+0.386%

MSTR on 31 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Extended MSTR_24_5-USD−0.033%+0.0032%1h$499K$2.1M10xas long as short
tradeXYZ xyz:MSTR−0.001%+0.0157%1h$56.5M$31.8M10xas long as short
Pacifica MSTRlong0.000%+0.0100%1h$101K$152K10x
Bitget MSTRUSDT+0.005%+0.0320%8h$28.8M$110.9M25xas long as short
Paradex MSTR-USD-PERP+0.005%+0.0101%8h$66—5xas long as short
Lighter MSTR+0.011%+0.0032%1h$3.5M$2.8M10xas long as short
Gate MSTR_USDT+0.023%0.0000%8h$4.9M$19.0M50xas long as short
Binance MSTRUSDT+0.035%+0.0286%8h$89.7M$558.0M50xas long as short
OKX MSTR-USDT-SWAP+0.041%+0.0245%8h$22.3M$100.7M50xas long as short
Bybit MSTRUSDTshort+0.047%+0.0396%8h$15.4M$41.5M50x
Show all 31 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
KuCoin MSTRUSDTM+0.053%+0.0100%8h$2.5M$2.6M20xas long as short
SoDEX MSTR-USD+0.059%+0.0050%1h$44K$3K10xas long as short
Aster MSTRUSDT+0.065%+0.0277%8h$1.3M$6.0M50xas long as short
Phemex MSTRUSDT+0.071%0.0000%4h$2.8M$40K10xas long as short
BloFin MSTR-USDT+0.083%+0.0408%8h$1.1M$1.4M20xas long as short
Nado MSTR-PERP+0.088%+0.0121%1h$125K$255K3xas long as short
Deribit MSTR_USDC-PERPETUAL+0.089%+0.0414%1h$282K$455K10xas long as short
Orderly PERP_MSTR_USDC_mythos+0.120%+0.0100%8h$3K$12K10xas long as short
Aevo MSTR-PERP+0.123%+0.0104%1h$138—10xas long as short
Polymarket Perps MSTR-USD+0.132%+0.0050%1h$402K$2.3M10xas long as short
RISEx MSTR/USDC+0.185%+0.0277%1h$293K$463K10xas long as short
Coinbase International MSTR-PERP-INTX+0.192%+0.0112%1h$1.5M$1.1M10xas long as short
Vest MSTR-USD-PERP+0.204%+0.0046%1h—$1.8M25xas long as short
Variational Omni MSTR+0.227%+0.0238%8h$1.2M$2.2M—as long as short
Arcus MSTR-USD+0.228%+0.0612%1h$26K$128K10xas long as short
ApeX Omni MSTRUSDT+0.228%+0.0100%1h$130K$1.8M50xas long as short
QFEX MSTR-USD+0.234%+0.0041%1h$1.3M$9.4M10xas long as short
Ondo Perps MSTR-USD.P+0.264%+0.0050%1h$884K$4.4M10xas long as short
Phoenix MSTR+0.284%+0.0226%1h$56K$380K10xas long as short
Injective MSTR/USDC PERP+0.301%+0.0312%1h$12K$93K30xas long as short
edgeX MSTRUSDC+0.354%+0.0169%4h$45K$4.9M10xas long as short