Spread before costs (cost unknown: a leg has no order-book sample)+0.018%
7d average—if it closes, per $10,000$2funding while held, a day+$6.60
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | SoDEX MSTR-USD | 166.94 | 0.0050 | pay 0.0006% / 1h | 52m 57s | $44K | $3K | 10x |
| Short | Bitget MSTRUSDT | 166.97 | 0.0270 | get 0.0270% / 8h | 6h 52m | $28.8M | $111.8M | 25x |
SoDEX MSTR-USD
Bitget 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
- $1.8
- Funding while held
- $6.6
- Slippage, 4 orders
- no order book: not counted
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$11.6
- Spread needed to break even
- 0.200%
Slippage unknown: SoDEX: no order-book sample; Bitget: live order book, 3 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0220%
- Per $10,000 a day
- +$6.60
- 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 SoDEX no order-book sample | — | — | — | — | — |
| Sell Bitget live order book, 3 min ago | 0.30 bp | 8.7 bp −$9 | 14.0 bp −$140 | 29.4 bp −$2,938 | doesn't fit |
SoDEX: 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.Coinbase International166.53cheapestApeX Omni166.54+0.006%edgeX166.61+0.045%Variational Omni166.61+0.050%Phoenix166.65+0.074%Ondo Perps166.71+0.108%Nado166.76+0.137%Pacifica166.84+0.188%QFEX166.86+0.198%RISEx166.88+0.210%Orderly166.88+0.210%Paradex166.89+0.213%Phemex166.89+0.216%BloFin166.89+0.216%Arcus166.90+0.222%Vest166.91+0.228%Aevo166.92+0.233%Polymarket Perps166.92+0.234%Lighter166.93+0.240%
Coinbase International
ApeX Omni
Variational Omni
Phoenix
Ondo Perps
Nado
Pacifica
QFEX
RISEx
Orderly
Paradex
Phemex
BloFin
Arcus
Vest
Aevo
Polymarket Perps
LighterSoDEX166.94+0.246%
Extended166.95+0.253%KuCoin166.96+0.258%Deribit166.96+0.258%Gate166.97+0.264%
Extended
KuCoin
Deribit
GateBitget166.97+0.264%
OKX166.99+0.276%Aster166.99+0.279%Binance167.00+0.280%tradeXYZ167.01+0.288%Bybit167.06+0.318%Injective167.08+0.330%
OKX
Aster
Binance
tradeXYZ
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 |
| ApeX Omni MSTRUSDT | −0.240% | +0.0100% | 1h | $130K | $1.6M | 50x | as long as short |
| edgeX MSTRUSDC | −0.200% | +0.0356% | 4h | $49K | $5.0M | 10x | as long as short |
| Variational Omni MSTR | −0.196% | +0.0197% | 8h | $1.3M | $2.2M | — | as long as short |
| Phoenix MSTR | −0.172% | +0.0215% | 1h | $55K | $388K | 10x | as long as short |
| Ondo Perps MSTR-USD.P | −0.138% | +0.0050% | 1h | $824K | $4.6M | 10x | as long as short |
| Nado MSTR-PERP | −0.109% | −0.0047% | 1h | $125K | $247K | 3x | as long as short |
| Pacifica MSTR | −0.058% | +0.0100% | 1h | $102K | $152K | 10x | as long as short |
| QFEX MSTR-USD | −0.048% | +0.0041% | 1h | $1.3M | $9.4M | 10x | as long as short |
| RISEx MSTR/USDC | −0.036% | +0.0017% | 1h | $295K | $467K | 10x | as long as short |
Show all 31 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Orderly PERP_MSTR_USDC_mythos | −0.036% | +0.0100% | 8h | $3K | $12K | 10x | as long as short |
| Paradex MSTR-USD-PERP | −0.033% | +0.0079% | 8h | $67 | — | 5x | as long as short |
| Phemex MSTRUSDT | −0.030% | 0.0000% | 4h | $2.8M | $42K | 10x | as long as short |
| BloFin MSTR-USDT | −0.030% | +0.0361% | 8h | $1.1M | $1.5M | 20x | as long as short |
| Arcus MSTR-USD | −0.024% | +0.0599% | 1h | $26K | $130K | 10x | as long as short |
| Vest MSTR-USD-PERP | −0.018% | +0.0046% | 1h | — | $1.8M | 25x | as long as short |
| Aevo MSTR-PERP | −0.014% | +0.0104% | 1h | $139 | — | 10x | as long as short |
| Polymarket Perps MSTR-USD | −0.012% | +0.0050% | 1h | $405K | $2.3M | 10x | as long as short |
| Lighter MSTR | −0.006% | +0.0032% | 1h | $3.6M | $2.6M | 10x | as long as short |
| SoDEX MSTR-USDlong | 0.000% | +0.0050% | 1h | $44K | $3K | 10x | |
| Extended MSTR_24_5-USD | +0.007% | +0.0032% | 1h | $495K | $2.1M | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.012% | +0.0100% | 8h | $2.6M | $2.6M | 20x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | +0.012% | +0.0649% | 1h | $284K | $455K | 10x | as long as short |
| Gate MSTR_USDT | +0.018% | 0.0000% | 8h | $4.8M | $18.2M | 50x | as long as short |
| Bitget MSTRUSDTshort | +0.018% | +0.0270% | 8h | $28.8M | $111.8M | 25x | |
| OKX MSTR-USDT-SWAP | +0.030% | +0.0206% | 8h | $22.5M | $101.8M | 50x | as long as short |
| Aster MSTRUSDT | +0.032% | +0.0240% | 8h | $1.3M | $6.0M | 50x | as long as short |
| Binance MSTRUSDT | +0.034% | +0.0241% | 8h | $91.1M | $567.9M | 50x | as long as short |
| tradeXYZ xyz:MSTR | +0.042% | +0.0057% | 1h | $56.8M | $32.0M | 10x | as long as short |
| Bybit MSTRUSDT | +0.072% | +0.0240% | 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 |