Spread before costs (cost unknown: a leg has no order-book sample)+0.042%
7d average−0.015%if it closes, per $10,000$4funding while held, a day+$4.17
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex MSTRUSDT | 165.98 | 0 | get 0.0000% / 4h | 1h 44m | $2.8M | $45K | 10x |
| Short | OKX MSTR-USDT-SWAP | 166.05 | 0.0139 | get 0.0139% / 8h | 5h 44m | $22.0M | $102.1M | 50x |
Phemex MSTRUSDT
OKX MSTR-USDT-SWAPPrice 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
- $4.22
- Funding while held
- $4.17
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$13.61
- Spread needed to break even
- 0.220%
Slippage unknown: Phemex: live order book, 5 min ago; OKX: live order book, 5 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0139%
- Per $10,000 a day
- +$4.17
- 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 | 3.02 bp | doesn't fit | doesn't fit | doesn't fit | doesn't fit |
| Sell OKX live order book, 5 min ago | 0.30 bp | 7.1 bp −$7 | 11.9 bp −$119 | 34.8 bp −$3,477 | doesn't fit |
MSTR price on every exchange
against the cheapest. Click to use as the short leg.Coinbase International164.72cheapestInjective165.62+0.546%ApeX Omni165.76+0.631%Phoenix165.88+0.705%Nado165.90+0.716%Ondo Perps165.90+0.716%Variational Omni165.91+0.722%Extended165.94+0.739%tradeXYZ165.96+0.753%Lighter165.97+0.759%Pacifica165.98+0.764%
Coinbase International
Injective
ApeX Omni
Phoenix
Nado
Ondo Perps
Variational Omni
Extended
tradeXYZ
Lighter
PacificaPhemex165.98+0.765%
BloFin165.98+0.765%Aster165.99+0.768%SoDEX165.99+0.771%Paradex166.00+0.775%Binance166.00+0.777%KuCoin166.00+0.777%Polymarket Perps166.00+0.777%Gate166.01+0.783%Orderly166.01+0.783%edgeX166.02+0.789%RISEx166.02+0.789%QFEX166.03+0.795%Bitget166.03+0.795%Arcus166.04+0.801%
BloFin
Aster
SoDEX
Paradex
Binance
KuCoin
Polymarket Perps
Gate
Orderly
RISEx
QFEX
Bitget
ArcusOKX166.05+0.807%
Aevo166.05+0.808%Deribit166.06+0.814%Bybit166.10+0.838%Vest166.10+0.838%
Aevo
Deribit
Bybit
VestMSTR 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 | −0.759% | +0.0104% | 1h | $1.4M | $1.1M | 10x | as long as short |
| Injective MSTR/USDC PERP | −0.217% | +0.0188% | 1h | $12K | $48K | 30x | as long as short |
| ApeX Omni MSTRUSDT | −0.133% | +0.0100% | 1h | $4K | $1.4M | 50x | as long as short |
| Phoenix MSTR | −0.059% | +0.0237% | 1h | $55K | $384K | 10x | as long as short |
| Nado MSTR-PERP | −0.049% | +0.0093% | 1h | $124K | $241K | 3x | as long as short |
| Ondo Perps MSTR-USD.P | −0.048% | +0.0050% | 1h | $775K | $4.7M | 10x | as long as short |
| Variational Omni MSTR | −0.043% | +0.0130% | 8h | $1.2M | $2.4M | — | as long as short |
| Extended MSTR_24_5-USD | −0.026% | +0.0032% | 1h | $574K | $2.1M | 10x | as long as short |
| tradeXYZ xyz:MSTR | −0.012% | +0.0086% | 1h | $56.3M | $33.8M | 10x | as long as short |
| Lighter MSTR | −0.006% | +0.0032% | 1h | $3.5M | $2.6M | 10x | as long as short |
Show all 31 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Pacifica MSTR | −0.001% | +0.0100% | 1h | $101K | $153K | 10x | as long as short |
| Phemex MSTRUSDTlong | 0.000% | 0.0000% | 4h | $2.8M | $45K | 10x | |
| BloFin MSTR-USDT | 0.000% | +0.0299% | 8h | $1.1M | $1.6M | 20x | as long as short |
| Aster MSTRUSDT | +0.003% | +0.0169% | 8h | $1.3M | $6.1M | 50x | as long as short |
| SoDEX MSTR-USD | +0.006% | +0.0050% | 1h | $44K | $3K | 10x | as long as short |
| Paradex MSTR-USD-PERP | +0.010% | +0.0099% | 8h | $66 | — | 5x | as long as short |
| Binance MSTRUSDT | +0.012% | +0.0179% | 8h | $87.7M | $598.3M | 50x | as long as short |
| KuCoin MSTRUSDTM | +0.012% | +0.0100% | 8h | $2.6M | $2.7M | 20x | as long as short |
| Polymarket Perps MSTR-USD | +0.012% | +0.0050% | 1h | $400K | $2.3M | 10x | as long as short |
| Gate MSTR_USDT | +0.018% | 0.0000% | 8h | $4.8M | $18.6M | 50x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.018% | +0.0100% | 8h | $3K | $12K | 10x | as long as short |
| edgeX MSTRUSDC | +0.024% | +0.0601% | 4h | $44K | $5.2M | 10x | as long as short |
| RISEx MSTR/USDC | +0.024% | 0.0000% | 1h | $285K | $474K | 10x | as long as short |
| QFEX MSTR-USD | +0.030% | +0.0065% | 1h | $1.4M | $9.7M | 10x | as long as short |
| Bitget MSTRUSDT | +0.030% | +0.0236% | 8h | $28.5M | $113.0M | 25x | as long as short |
| Arcus MSTR-USD | +0.036% | +0.0553% | 1h | $27K | $119K | 10x | as long as short |
| OKX MSTR-USDT-SWAPshort | +0.042% | +0.0139% | 8h | $22.0M | $102.1M | 50x | |
| Aevo MSTR-PERP | +0.043% | +0.0104% | 1h | $138 | — | 10x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.048% | +0.0413% | 1h | $282K | $487K | 10x | as long as short |
| Bybit MSTRUSDT | +0.072% | +0.0286% | 8h | $15.4M | $40.3M | 50x | as long as short |
| Vest MSTR-USD-PERP | +0.072% | +0.0046% | 1h | — | $1.8M | 25x | as long as short |