Spread before costs (cost unknown: a leg has no order-book sample)+0.037%
7d average−0.036%if it closes, per $10,000$4funding while held, a day+$5.65
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex MSTRUSDT | 165.75 | 0 | get 0.0000% / 4h | 2h 15m | $2.8M | $43K | 10x |
| Short | Aster MSTRUSDT | 165.81 | 0.0188 | get 0.0188% / 8h | 6h 15m | $1.3M | $6.1M | 50x |
Phemex MSTRUSDT
Aster 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
- $3.69
- Funding while held
- $5.65
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Aster: 4 bp × 2 orders
- −$8
- Net
- −$10.66
- Spread needed to break even
- 0.200%
Slippage unknown: Phemex: live order book, 5 min ago; Aster: live order book, 5 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0188%
- Per $10,000 a day
- +$5.65
- 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 Phemex live order book, 5 min ago | 1.81 bp | doesn't fit | doesn't fit | doesn't fit | doesn't fit |
| Sell Aster live order book, 5 min ago | 0.90 bp | 6.1 bp −$6 | 8.9 bp −$89 | doesn't fit | doesn't fit |
MSTR price on every exchange
against the cheapest. Click to use as the short leg.Coinbase International165.53cheapestApeX Omni165.60+0.042%Nado165.62+0.054%Extended165.62+0.057%Ondo Perps165.69+0.097%Pacifica165.71+0.111%KuCoin165.73+0.121%tradeXYZ165.74+0.127%Vest165.74+0.127%Polymarket Perps165.74+0.127%Paradex165.75+0.130%RISEx165.75+0.133%
Coinbase International
ApeX Omni
Nado
Extended
Ondo Perps
Pacifica
KuCoin
tradeXYZ
Vest
Polymarket Perps
Paradex
RISExPhemex165.75+0.133%
SoDEX165.76+0.139%Lighter165.77+0.145%QFEX165.77+0.145%Injective165.77+0.145%Binance165.77+0.147%Gate165.78+0.151%Bitget165.78+0.151%Deribit165.79+0.157%OKX165.80+0.163%Bybit165.81+0.169%Orderly165.81+0.169%
SoDEX
Lighter
QFEX
Injective
Binance
Gate
Bitget
Deribit
OKX
Bybit
OrderlyAster165.81+0.170%
Arcus165.82+0.175%BloFin165.82+0.175%Aevo165.83+0.184%edgeX165.87+0.206%Phoenix165.89+0.215%Variational Omni165.95+0.253%
Arcus
BloFin
Aevo
Phoenix
Variational OmniMSTR 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 | −0.133% | +0.0112% | 1h | $1.5M | $1.1M | 10x | as long as short |
| ApeX Omni MSTRUSDT | −0.090% | +0.0100% | 1h | $4K | $1.4M | 50x | as long as short |
| Nado MSTR-PERP | −0.079% | +0.0028% | 1h | $124K | $243K | 3x | as long as short |
| Extended MSTR_24_5-USD | −0.076% | +0.0032% | 1h | $574K | $2.1M | 10x | as long as short |
| Ondo Perps MSTR-USD.P | −0.036% | +0.0050% | 1h | $778K | $4.7M | 10x | as long as short |
| Pacifica MSTR | −0.022% | +0.0100% | 1h | $101K | $153K | 10x | as long as short |
| KuCoin MSTRUSDTM | −0.012% | +0.0100% | 8h | $2.5M | $2.6M | 20x | as long as short |
| tradeXYZ xyz:MSTR | −0.006% | +0.0098% | 1h | $56.2M | $32.6M | 10x | as long as short |
| Vest MSTR-USD-PERP | −0.006% | +0.0046% | 1h | — | $1.8M | 25x | as long as short |
| Polymarket Perps MSTR-USD | −0.006% | +0.0050% | 1h | $402K | $2.3M | 10x | as long as short |
Show all 31 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Paradex MSTR-USD-PERP | −0.003% | +0.0089% | 8h | $66 | — | 5x | as long as short |
| RISEx MSTR/USDC | 0.000% | +0.0017% | 1h | $285K | $465K | 10x | as long as short |
| Phemex MSTRUSDTlong | 0.000% | 0.0000% | 4h | $2.8M | $43K | 10x | |
| SoDEX MSTR-USD | +0.006% | +0.0050% | 1h | $44K | $3K | 10x | as long as short |
| Lighter MSTR | +0.012% | +0.0032% | 1h | $3.5M | $2.6M | 10x | as long as short |
| QFEX MSTR-USD | +0.012% | +0.0041% | 1h | $1.4M | $9.6M | 10x | as long as short |
| Injective MSTR/USDC PERP | +0.012% | +0.0249% | 1h | $12K | $68K | 30x | as long as short |
| Binance MSTRUSDT | +0.014% | +0.0194% | 8h | $88.3M | $588.1M | 50x | as long as short |
| Gate MSTR_USDT | +0.018% | 0.0000% | 8h | $4.8M | $18.8M | 50x | as long as short |
| Bitget MSTRUSDT | +0.018% | +0.0238% | 8h | $28.5M | $112.5M | 25x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.024% | +0.0474% | 1h | $283K | $485K | 10x | as long as short |
| OKX MSTR-USDT-SWAP | +0.030% | +0.0164% | 8h | $22.2M | $102.1M | 50x | as long as short |
| Bybit MSTRUSDT | +0.036% | +0.0204% | 8h | $15.4M | $41.9M | 50x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.036% | +0.0100% | 8h | $3K | $12K | 10x | as long as short |
| Aster MSTRUSDTshort | +0.037% | +0.0188% | 8h | $1.3M | $6.1M | 50x | |
| Arcus MSTR-USD | +0.042% | +0.0599% | 1h | $27K | $121K | 10x | as long as short |
| BloFin MSTR-USDT | +0.042% | +0.0314% | 8h | $1.1M | $1.5M | 20x | as long as short |
| Aevo MSTR-PERP | +0.051% | +0.0104% | 1h | $138 | — | 10x | as long as short |
| edgeX MSTRUSDC | +0.073% | +0.0077% | 4h | $50K | $5.2M | 10x | as long as short |
| Phoenix MSTR | +0.082% | +0.0215% | 1h | $54K | $388K | 10x | as long as short |
| Variational Omni MSTR | +0.120% | +0.0133% | 8h | $1.2M | $2.3M | — | as long as short |