Spread before costs (cost unknown: a leg has no order-book sample)−0.026%
7d average—if it closes, per $10,000$3funding while held, a day+$5.46
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Paradex MSTR-USD-PERP | 167.14 | 0.0133 | pay 0.0133% / 8h | 40m 48s | $67 | — | 5x |
| Short | Variational Omni MSTR | 167.10 | 0.0315 | get 0.0315% / 8h | 40m 48s | $1.3M | $2.2M | — |
Paradex MSTR-USD-PERP
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
- −$2.61
- Funding while held
- $5.46
- Slippage, 4 orders
- no order book: not counted
- Fee Paradex: 2 bp × 2 orders
- −$4
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$1.14
- Spread needed to break even
- 0.040%
Slippage unknown: Paradex: no order-book sample; Variational Omni: RFQ quote, 5 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0182%
- Per $10,000 a day
- +$5.46
- 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 Paradex no order-book sample | — | — | — | — | — |
| Sell Variational Omni RFQ quote, 5 min ago | 2.95 bp | doesn't fit | 6.6 bp −$66 | doesn't fit | doesn't fit |
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.Extended166.66cheapestKuCoin166.84+0.109%ApeX Omni166.84+0.109%Coinbase International166.86+0.121%Aster166.86+0.123%Gate166.93+0.163%Injective166.94+0.169%tradeXYZ166.95+0.175%Phemex166.95+0.175%Binance166.96+0.181%Lighter166.96+0.181%Bitget166.98+0.193%BloFin166.99+0.199%SoDEX167.00+0.205%Nado167.03+0.225%Bybit167.04+0.229%OKX167.05+0.235%Ondo Perps167.09+0.259%Orderly167.09+0.259%
Extended
KuCoin
ApeX Omni
Coinbase International
Aster
Gate
Injective
tradeXYZ
Phemex
Binance
Lighter
Bitget
BloFin
SoDEX
Nado
Bybit
OKX
Ondo Perps
OrderlyVariational Omni167.10+0.265%
Aevo167.10+0.265%Deribit167.12+0.277%edgeX167.14+0.290%
Aevo
DeribitParadex167.14+0.291%
Pacifica167.15+0.293%QFEX167.15+0.295%Vest167.15+0.295%Polymarket Perps167.16+0.301%RISEx167.19+0.319%Arcus167.23+0.343%Phoenix167.23+0.344%
Pacifica
QFEX
Vest
Polymarket Perps
RISEx
Arcus
PhoenixMSTR on 31 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Extended MSTR_24_5-USD | −0.290% | +0.0096% | 1h | $510K | $2.2M | 10x | as long as short |
| KuCoin MSTRUSDTM | −0.181% | +0.0176% | 8h | $2.6M | $2.6M | 20x | as long as short |
| ApeX Omni MSTRUSDT | −0.181% | +0.0100% | 1h | $133K | $2.1M | 50x | as long as short |
| Coinbase International MSTR-PERP-INTX | −0.169% | +0.0112% | 1h | $1.5M | $1.2M | 10x | as long as short |
| Aster MSTRUSDT | −0.167% | +0.0395% | 8h | $1.3M | $5.9M | 50x | as long as short |
| Gate MSTR_USDT | −0.127% | 0.0000% | 8h | $4.9M | $18.6M | 50x | as long as short |
| Injective MSTR/USDC PERP | −0.121% | +0.0033% | 1h | $12K | $97K | 30x | as long as short |
| tradeXYZ xyz:MSTR | −0.115% | +0.0253% | 1h | $57.1M | $31.7M | 10x | as long as short |
| Phemex MSTRUSDT | −0.115% | 0.0000% | 4h | $2.8M | $36K | 10x | as long as short |
| Binance MSTRUSDT | −0.110% | +0.0381% | 8h | $89.3M | $530.4M | 50x | as long as short |
Show all 31 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Lighter MSTR | −0.109% | +0.0144% | 1h | $3.6M | $2.9M | 10x | as long as short |
| Bitget MSTRUSDT | −0.097% | +0.0376% | 8h | $29.2M | $110.0M | 25x | as long as short |
| BloFin MSTR-USDT | −0.091% | +0.0501% | 8h | $1.1M | $1.4M | 20x | as long as short |
| SoDEX MSTR-USD | −0.085% | +0.0050% | 1h | $44K | $3K | 10x | as long as short |
| Nado MSTR-PERP | −0.066% | +0.0074% | 1h | $128K | $260K | 3x | as long as short |
| Bybit MSTRUSDT | −0.061% | +0.0239% | 8h | $15.7M | $43.2M | 50x | as long as short |
| OKX MSTR-USDT-SWAP | −0.055% | +0.0326% | 8h | $22.2M | $100.6M | 50x | as long as short |
| Ondo Perps MSTR-USD.P | −0.032% | +0.0050% | 1h | $913K | $4.6M | 10x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | −0.032% | +0.0100% | 8h | $3K | $13K | 10x | as long as short |
| Variational Omni MSTRshort | −0.026% | +0.0315% | 8h | $1.3M | $2.2M | — | |
| Aevo MSTR-PERP | −0.026% | +0.0104% | 1h | $139 | — | 10x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | −0.014% | +0.0768% | 1h | $284K | $456K | 10x | as long as short |
| edgeX MSTRUSDC | −0.001% | +0.0340% | 4h | $62K | $4.6M | 10x | as long as short |
| Paradex MSTR-USD-PERPlong | 0.000% | +0.0133% | 8h | $67 | — | 5x | |
| Pacifica MSTR | +0.003% | +0.0100% | 1h | $102K | $167K | 10x | as long as short |
| QFEX MSTR-USD | +0.004% | +0.0057% | 1h | $1.3M | $9.1M | 10x | as long as short |
| Vest MSTR-USD-PERP | +0.004% | +0.0046% | 1h | — | $1.6M | 25x | as long as short |
| Polymarket Perps MSTR-USD | +0.010% | +0.0082% | 1h | $409K | $2.1M | 10x | as long as short |
| RISEx MSTR/USDC | +0.028% | +0.0486% | 1h | $305K | $458K | 10x | as long as short |
| Arcus MSTR-USD | +0.052% | +0.0705% | 1h | $26K | $123K | 10x | as long as short |
| Phoenix MSTR | +0.053% | +0.0216% | 1h | $54K | $364K | 10x | as long as short |