Spread before costs (cost unknown: a leg has no order-book sample)+0.036%
7d average−0.069%if it closes, per $10,000$4funding while held, a day+$0.96
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex MSTRUSDT | 166.94 | 0 | get 0.0000% / 4h | 2h 46m | $2.8M | $42K | 10x |
| Short | Lighter MSTR | 167.00 | 0.0032 | get 0.0004% / 1h | 46m 49s | $3.6M | $2.6M | 10x |
Phemex MSTRUSDT
Lighter 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
- $3.59
- Funding while held
- $0.96
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$7.45
- Spread needed to break even
- 0.120%
Slippage unknown: Phemex: live order book, 3 min ago; Lighter: live order book, 2 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0032%
- Per $10,000 a day
- +$0.96
- 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, 3 min ago | 14.37 bp | doesn't fit | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 2 min ago | 1.20 bp | 2.9 bp −$3 | 5.1 bp −$51 | 34.8 bp −$3,485 | doesn't fit |
MSTR price on every exchange
against the cheapest. Click to use as the short leg.Coinbase International166.53cheapestOndo Perps166.81+0.168%edgeX166.86+0.198%Extended166.91+0.228%ApeX Omni166.91+0.228%
Coinbase International
Ondo Perps
Extended
ApeX OmniPhemex166.94+0.246%
Arcus166.97+0.264%Polymarket Perps166.97+0.264%Nado166.97+0.265%tradeXYZ166.98+0.270%KuCoin166.98+0.270%Gate166.99+0.276%Bitget166.99+0.276%Orderly166.99+0.276%SoDEX166.99+0.276%Phoenix166.99+0.277%
Arcus
Polymarket Perps
Nado
tradeXYZ
KuCoin
Gate
Bitget
Orderly
SoDEX
PhoenixLighter167.00+0.282%
Binance167.00+0.282%Aster167.00+0.282%Variational Omni167.00+0.284%Pacifica167.00+0.284%Aevo167.01+0.287%BloFin167.01+0.288%QFEX167.04+0.306%Paradex167.04+0.309%OKX167.05+0.312%Vest167.05+0.312%Deribit167.05+0.312%RISEx167.06+0.318%Bybit167.07+0.324%Injective167.08+0.330%
Binance
Aster
Variational Omni
Pacifica
Aevo
BloFin
QFEX
Paradex
OKX
Vest
Deribit
RISEx
Bybit
InjectiveMSTR 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 | −0.246% | +0.0112% | 1h | $1.5M | $1.1M | 10x | as long as short |
| Ondo Perps MSTR-USD.P | −0.078% | +0.0050% | 1h | $824K | $4.6M | 10x | as long as short |
| edgeX MSTRUSDC | −0.048% | +0.0876% | 4h | $50K | $5.0M | 10x | as long as short |
| Extended MSTR_24_5-USD | −0.018% | +0.0032% | 1h | $495K | $2.0M | 10x | as long as short |
| ApeX Omni MSTRUSDT | −0.018% | +0.0100% | 1h | $130K | $1.5M | 50x | as long as short |
| Phemex MSTRUSDTlong | 0.000% | 0.0000% | 4h | $2.8M | $42K | 10x | |
| Arcus MSTR-USD | +0.018% | +0.0599% | 1h | $26K | $130K | 10x | as long as short |
| Polymarket Perps MSTR-USD | +0.018% | +0.0050% | 1h | $405K | $2.3M | 10x | as long as short |
| Nado MSTR-PERP | +0.018% | −0.0031% | 1h | $126K | $243K | 3x | as long as short |
| tradeXYZ xyz:MSTR | +0.024% | +0.0050% | 1h | $56.8M | $32.1M | 10x | as long as short |
Show all 31 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| KuCoin MSTRUSDTM | +0.024% | +0.0100% | 8h | $2.6M | $2.6M | 20x | as long as short |
| Gate MSTR_USDT | +0.030% | 0.0000% | 8h | $4.8M | $18.3M | 50x | as long as short |
| Bitget MSTRUSDT | +0.030% | +0.0261% | 8h | $28.8M | $111.6M | 25x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.030% | +0.0100% | 8h | $3K | $12K | 10x | as long as short |
| SoDEX MSTR-USD | +0.030% | +0.0050% | 1h | $44K | $3K | 10x | as long as short |
| Phoenix MSTR | +0.031% | +0.0215% | 1h | $55K | $388K | 10x | as long as short |
| Lighter MSTRshort | +0.036% | +0.0032% | 1h | $3.6M | $2.6M | 10x | |
| Binance MSTRUSDT | +0.036% | +0.0230% | 8h | $91.3M | $569.4M | 50x | as long as short |
| Aster MSTRUSDT | +0.036% | +0.0231% | 8h | $1.3M | $6.0M | 50x | as long as short |
| Variational Omni MSTR | +0.037% | +0.0185% | 8h | $1.3M | $2.2M | — | as long as short |
| Pacifica MSTR | +0.038% | +0.0100% | 1h | $102K | $152K | 10x | as long as short |
| Aevo MSTR-PERP | +0.040% | +0.0104% | 1h | $139 | — | 10x | as long as short |
| BloFin MSTR-USDT | +0.042% | +0.0350% | 8h | $1.1M | $1.5M | 20x | as long as short |
| QFEX MSTR-USD | +0.060% | +0.0041% | 1h | $1.3M | $9.5M | 10x | as long as short |
| Paradex MSTR-USD-PERP | +0.062% | +0.0076% | 8h | $67 | — | 5x | as long as short |
| OKX MSTR-USDT-SWAP | +0.066% | +0.0192% | 8h | $22.6M | $101.7M | 50x | as long as short |
| Vest MSTR-USD-PERP | +0.066% | +0.0046% | 1h | — | $1.8M | 25x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.066% | +0.0409% | 1h | $284K | $455K | 10x | as long as short |
| RISEx MSTR/USDC | +0.071% | +0.0017% | 1h | $296K | $467K | 10x | as long as short |
| Bybit MSTRUSDT | +0.078% | +0.0217% | 8h | $15.5M | $41.5M | 50x | as long as short |
| Injective MSTR/USDC PERP | +0.084% | +0.0249% | 1h | $12K | $68K | 30x | as long as short |