Spread before costs (cost unknown: a leg has no order-book sample)−0.042%
7d average—if it closes, per $10,000$4funding while held, a day−$1.50
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | SoDEX MSTR-USD | 165.87 | 0.0050 | pay 0.0006% / 1h | 28m 14s | $44K | $3K | 10x |
| Short | Phemex MSTRUSDT | 165.80 | 0 | get 0.0000% / 4h | 28m 14s | $2.8M | $36K | 10x |
SoDEX MSTR-USD
Phemex 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
- −$4.22
- Funding while held
- −$1.5
- Slippage, 4 orders
- no order book: not counted
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$25.72
- Spread needed to break even
- 0.200%
Slippage unknown: SoDEX: no order-book sample; Phemex: live order book, 2 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0050%
- Per $10,000 a day
- −$1.50
- 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 SoDEX no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 2 min ago | 27.17 bp | doesn't fit | doesn't fit | doesn't fit | 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.Phemex165.80cheapest
OKX165.81+0.006%Binance165.81+0.006%Extended165.81+0.008%Lighter165.84+0.024%tradeXYZ165.85+0.030%Bitget165.85+0.030%KuCoin165.87+0.042%Orderly165.87+0.042%
OKX
Binance
Extended
Lighter
tradeXYZ
Bitget
KuCoin
OrderlySoDEX165.87+0.042%
Aevo165.89+0.053%Bybit165.89+0.054%Deribit165.91+0.066%Aster165.94+0.087%Gate165.96+0.097%Vest165.99+0.115%Polymarket Perps166.00+0.121%Coinbase International166.13+0.199%QFEX166.14+0.205%RISEx166.15+0.208%Pacifica166.17+0.223%Ondo Perps166.20+0.241%Paradex166.20+0.242%Arcus166.21+0.247%Nado166.30+0.303%Injective166.35+0.332%Phoenix166.36+0.338%ApeX Omni166.43+0.380%BloFin166.44+0.386%Variational Omni166.49+0.416%edgeX166.57+0.462%
Aevo
Bybit
Deribit
Aster
Gate
Vest
Polymarket Perps
Coinbase International
QFEX
RISEx
Pacifica
Ondo Perps
Paradex
Arcus
Nado
Injective
Phoenix
ApeX Omni
BloFin
Variational OmniMSTR on 31 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Phemex MSTRUSDTshort | −0.042% | 0.0000% | 4h | $2.8M | $36K | 10x | |
| OKX MSTR-USDT-SWAP | −0.036% | +0.0301% | 8h | $22.0M | $100.6M | 50x | as long as short |
| Binance MSTRUSDT | −0.036% | +0.0363% | 8h | $88.1M | $535.4M | 50x | as long as short |
| Extended MSTR_24_5-USD | −0.034% | +0.0064% | 1h | $505K | $2.2M | 10x | as long as short |
| Lighter MSTR | −0.018% | +0.0120% | 1h | $3.6M | $2.9M | 10x | as long as short |
| tradeXYZ xyz:MSTR | −0.012% | +0.0212% | 1h | $56.9M | $31.6M | 10x | as long as short |
| Bitget MSTRUSDT | −0.012% | +0.0361% | 8h | $28.9M | $110.5M | 25x | as long as short |
| KuCoin MSTRUSDTM | 0.000% | +0.0152% | 8h | $2.6M | $2.6M | 20x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | 0.000% | +0.0100% | 8h | $3K | $12K | 10x | as long as short |
| SoDEX MSTR-USDlong | 0.000% | +0.0050% | 1h | $44K | $3K | 10x |