Spread before costs (cost unknown: a leg has no order-book sample)+0.051%
7d average—if it closes, per $10,000$5funding while held, a day+$2.14
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | QFEX MSTR-USD | 166.87 | 0.0057 | pay 0.0007% / 1h | 33m 09s | $1.3M | $9.2M | 10x |
| Short | Paradex MSTR-USD-PERP | 166.95 | 0.0128 | get 0.0128% / 8h | 33m 09s | $67 | — | 5x |
QFEX MSTR-USD
Paradex MSTR-USD-PERPPrice 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
- $5.08
- Funding while held
- $2.14
- Slippage, 4 orders
- no order book: not counted
- Fee QFEX: 5 bp × 2 orders
- −$10
- Fee Paradex: 2 bp × 2 orders
- −$4
- Net
- −$6.78
- Spread needed to break even
- 0.140%
Slippage unknown: QFEX: live order book, 7 min ago; Paradex: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0071%
- Per $10,000 a day
- +$2.14
- 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 QFEX live order book, 7 min ago | 1.50 bp | 6.5 bp −$6 | 6.5 bp −$65 | 11.5 bp −$1,155 | doesn't fit |
| Sell Paradex no order-book sample | — | — | — | — | — |
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.Injective166.35cheapestVariational Omni166.58+0.138%Phemex166.62+0.162%Coinbase International166.68+0.198%Ondo Perps166.69+0.204%Lighter166.73+0.228%tradeXYZ166.74+0.234%Bitget166.74+0.234%OKX166.75+0.240%Extended166.75+0.241%Gate166.76+0.246%ApeX Omni166.77+0.252%Vest166.77+0.252%Binance166.78+0.258%Polymarket Perps166.79+0.265%BloFin166.79+0.265%Aster166.80+0.271%KuCoin166.80+0.271%Phoenix166.80+0.272%Bybit166.81+0.277%SoDEX166.82+0.283%Orderly166.86+0.307%Nado166.86+0.308%
Injective
Variational Omni
Phemex
Coinbase International
Ondo Perps
Lighter
tradeXYZ
Bitget
OKX
Extended
Gate
ApeX Omni
Vest
Binance
Polymarket Perps
BloFin
Aster
KuCoin
Phoenix
Bybit
SoDEX
Orderly
NadoQFEX166.87+0.313%
edgeX166.88+0.316%Deribit166.92+0.343%Aevo166.93+0.349%Pacifica166.94+0.352%
Deribit
Aevo
PacificaParadex166.95+0.364%
Arcus166.97+0.373%RISEx166.99+0.382%
Arcus
RISExMSTR on 31 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective MSTR/USDC PERP | −0.312% | +0.0033% | 1h | $12K | $97K | 30x | as long as short |
| Variational Omni MSTR | −0.174% | +0.0312% | 8h | $1.3M | $2.2M | — | as long as short |
| Phemex MSTRUSDT | −0.150% | 0.0000% | 4h | $2.8M | $36K | 10x | as long as short |
| Coinbase International MSTR-PERP-INTX | −0.114% | +0.0112% | 1h | $1.5M | $1.2M | 10x | as long as short |
| Ondo Perps MSTR-USD.P | −0.108% | +0.0050% | 1h | $912K | $4.6M | 10x | as long as short |
| Lighter MSTR | −0.084% | +0.0160% | 1h | $3.6M | $2.9M | 10x | as long as short |
| tradeXYZ xyz:MSTR | −0.078% | +0.0232% | 1h | $57.2M | $31.6M | 10x | as long as short |
| Bitget MSTRUSDT | −0.078% | +0.0370% | 8h | $29.1M | $110.3M | 25x | as long as short |
| OKX MSTR-USDT-SWAP | −0.072% | +0.0315% | 8h | $22.2M | $100.7M | 50x | as long as short |
| Extended MSTR_24_5-USD | −0.071% | +0.0096% | 1h | $508K | $2.2M | 10x | as long as short |
Show all 31 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Gate MSTR_USDT | −0.066% | 0.0000% | 8h | $4.9M | $18.7M | 50x | as long as short |
| ApeX Omni MSTRUSDT | −0.060% | +0.0100% | 1h | $133K | $2.0M | 50x | as long as short |
| Vest MSTR-USD-PERP | −0.060% | +0.0046% | 1h | — | $1.6M | 25x | as long as short |
| Binance MSTRUSDT | −0.054% | +0.0372% | 8h | $89.1M | $533.0M | 50x | as long as short |
| Polymarket Perps MSTR-USD | −0.048% | +0.0058% | 1h | $409K | $2.1M | 10x | as long as short |
| BloFin MSTR-USDT | −0.048% | +0.0492% | 8h | $1.1M | $1.4M | 20x | as long as short |
| Aster MSTRUSDT | −0.042% | +0.0384% | 8h | $1.3M | $5.9M | 50x | as long as short |
| KuCoin MSTRUSDTM | −0.042% | +0.0165% | 8h | $2.6M | $2.6M | 20x | as long as short |
| Phoenix MSTR | −0.040% | +0.0216% | 1h | $56K | $364K | 10x | as long as short |
| Bybit MSTRUSDT | −0.036% | +0.0248% | 8h | $15.6M | $43.5M | 50x | as long as short |
| SoDEX MSTR-USD | −0.030% | +0.0050% | 1h | $44K | $3K | 10x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | −0.006% | +0.0100% | 8h | $3K | $13K | 10x | as long as short |
| Nado MSTR-PERP | −0.004% | +0.0060% | 1h | $128K | $260K | 3x | as long as short |
| QFEX MSTR-USDlong | 0.000% | +0.0057% | 1h | $1.3M | $9.2M | 10x | |
| edgeX MSTRUSDC | +0.004% | +0.0496% | 4h | $63K | $4.6M | 10x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.030% | +0.0529% | 1h | $284K | $456K | 10x | as long as short |
| Aevo MSTR-PERP | +0.036% | +0.0104% | 1h | $139 | — | 10x | as long as short |
| Pacifica MSTR | +0.040% | +0.0100% | 1h | $102K | $164K | 10x | as long as short |
| Paradex MSTR-USD-PERPshort | +0.051% | +0.0128% | 8h | $67 | — | 5x | |
| Arcus MSTR-USD | +0.060% | +0.0705% | 1h | $26K | $126K | 10x | as long as short |
| RISEx MSTR/USDC | +0.069% | +0.0486% | 1h | $305K | $460K | 10x | as long as short |