After costs, if the gap returns to its 7d average, $10k−$52
spread now−0.312%7d average−0.060%fees + slippage, in and out−$27spread needed0.271%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix MSTR | 167.16 | 0.0215 | pay 0.0027% / 1h | 54m 39s | $55K | $379K | 10x |
| Short | Lighter MSTR | 166.64 | 0.0032 | get 0.0004% / 1h | 54m 39s | $3.6M | $2.6M | 10x |
Phoenix MSTR
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
- −$31.17
- Funding while held
- −$5.5
- Slippage, 4 orders
- −$20.08
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$63.75
- Spread needed to break even
- 0.271%
Slippage from Phoenix: live order book, 48 min ago; Lighter: live order book, 4 min ago.
Cost of waiting
funding view- Funding /8h
- −0.0183%
- Per $10,000 a day
- −$5.50
- 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 Phoenix live order book, 48 min ago | 3.01 bp | 10.0 bp −$10 | 20.2 bp −$202 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 4 min ago | 1.20 bp | 3.3 bp −$3 | 7.0 bp −$70 | 31.5 bp −$3,148 | doesn't fit |
MSTR price on every exchange
against the cheapest. Click to use as the short leg.Ondo Perps166.36cheapestExtended166.52+0.098%Coinbase International166.53+0.102%Orderly166.55+0.114%KuCoin166.56+0.120%Polymarket Perps166.56+0.120%SoDEX166.56+0.120%Nado166.57+0.125%Phemex166.57+0.126%Aevo166.58+0.134%tradeXYZ166.60+0.144%BloFin166.60+0.144%Aster166.61+0.150%Binance166.61+0.150%Paradex166.61+0.151%Variational Omni166.61+0.152%Pacifica166.62+0.156%QFEX166.62+0.156%Vest166.63+0.162%RISEx166.63+0.165%
Ondo Perps
Extended
Coinbase International
Orderly
KuCoin
Polymarket Perps
SoDEX
Nado
Phemex
Aevo
tradeXYZ
BloFin
Aster
Binance
Paradex
Variational Omni
Pacifica
QFEX
Vest
RISExLighter166.64+0.168%
Deribit166.64+0.168%Arcus166.66+0.180%Gate166.67+0.186%Bitget166.67+0.186%Bybit166.68+0.192%OKX166.68+0.192%ApeX Omni166.90+0.325%edgeX166.91+0.328%Injective167.08+0.433%
Deribit
Arcus
Gate
Bitget
Bybit
OKX
ApeX Omni
InjectivePhoenix167.16+0.481%
MSTR on 31 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Ondo Perps MSTR-USD.P | −0.479% | +0.0050% | 1h | $824K | $4.6M | 10x | as long as short |
| Extended MSTR_24_5-USD | −0.382% | +0.0032% | 1h | $495K | $2.1M | 10x | as long as short |
| Coinbase International MSTR-PERP-INTX | −0.377% | +0.0112% | 1h | $1.5M | $1.1M | 10x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | −0.366% | +0.0100% | 8h | $3K | $12K | 10x | as long as short |
| KuCoin MSTRUSDTM | −0.360% | +0.0100% | 8h | $2.5M | $2.6M | 20x | as long as short |
| Polymarket Perps MSTR-USD | −0.360% | +0.0050% | 1h | $404K | $2.3M | 10x | as long as short |
| SoDEX MSTR-USD | −0.360% | +0.0050% | 1h | $44K | $3K | 10x | as long as short |
| Nado MSTR-PERP | −0.354% | −0.0046% | 1h | $125K | $247K | 3x | as long as short |
| Phemex MSTRUSDT | −0.354% | 0.0000% | 4h | $2.8M | $42K | 10x | as long as short |
| Aevo MSTR-PERP | −0.346% | +0.0104% | 1h | $138 | — | 10x | as long as short |
Show all 31 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| tradeXYZ xyz:MSTR | −0.336% | +0.0056% | 1h | $56.6M | $32.0M | 10x | as long as short |
| BloFin MSTR-USDT | −0.336% | +0.0364% | 8h | $1.1M | $1.5M | 20x | as long as short |
| Aster MSTRUSDT | −0.330% | +0.0241% | 8h | $1.3M | $6.0M | 50x | as long as short |
| Binance MSTRUSDT | −0.330% | +0.0241% | 8h | $90.9M | $567.6M | 50x | as long as short |
| Paradex MSTR-USD-PERP | −0.329% | +0.0080% | 8h | $67 | — | 5x | as long as short |
| Variational Omni MSTR | −0.328% | +0.0197% | 8h | $1.3M | $2.2M | — | as long as short |
| Pacifica MSTR | −0.324% | +0.0100% | 1h | $102K | $152K | 10x | as long as short |
| QFEX MSTR-USD | −0.324% | +0.0041% | 1h | $1.3M | $9.4M | 10x | as long as short |
| Vest MSTR-USD-PERP | −0.318% | +0.0046% | 1h | — | $1.8M | 25x | as long as short |
| RISEx MSTR/USDC | −0.315% | +0.0017% | 1h | $295K | $467K | 10x | as long as short |
| Lighter MSTRshort | −0.312% | +0.0032% | 1h | $3.6M | $2.6M | 10x | |
| Deribit MSTR_USDC-PERPETUAL | −0.312% | +0.0471% | 1h | $283K | $455K | 10x | as long as short |
| Arcus MSTR-USD | −0.300% | +0.0599% | 1h | $26K | $130K | 10x | as long as short |
| Gate MSTR_USDT | −0.294% | 0.0000% | 8h | $4.8M | $18.2M | 50x | as long as short |
| Bitget MSTRUSDT | −0.294% | +0.0271% | 8h | $28.7M | $111.7M | 25x | as long as short |
| Bybit MSTRUSDT | −0.288% | +0.0254% | 8h | $15.4M | $41.5M | 50x | as long as short |
| OKX MSTR-USDT-SWAP | −0.288% | +0.0208% | 8h | $22.5M | $101.5M | 50x | as long as short |
| ApeX Omni MSTRUSDT | −0.156% | +0.0100% | 1h | $130K | $1.6M | 50x | as long as short |
| edgeX MSTRUSDC | −0.153% | +0.0197% | 4h | $49K | $5.0M | 10x | as long as short |
| Injective MSTR/USDC PERP | −0.048% | +0.0249% | 1h | $12K | $68K | 30x | as long as short |
| Phoenix MSTRlong | 0.000% | +0.0215% | 1h | $55K | $379K | 10x |