After costs, if the gap returns to its 7d average, $10k−$43
spread now+0.060%7d average+0.080%fees + slippage, in and out−$41spread needed0.414%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | tradeXYZ xyz:MSTR | 166.49 | 0.0095 | pay 0.0012% / 1h | 3m 29s | $56.5M | $34.0M | 10x |
| Short | Deribit MSTR_USDC-PERPETUAL | 166.59 | 0.0531 | get 0.0066% / 1h | 3m 29s | $283K | $439K | 10x |
tradeXYZ xyz:MSTR
Deribit MSTR_USDC-PERPETUALPrice 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
- $6.01
- Funding while held
- $13.08
- Slippage, 4 orders
- −$16.38
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$22.3
- Spread needed to break even
- 0.414%
Slippage from tradeXYZ: live order book, 8 min ago; Deribit: live order book, 32 min ago.
Cost of waiting
funding view- Funding /8h
- +0.0436%
- Per $10,000 a day
- +$13.08
- 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 tradeXYZ live order book, 8 min ago | 0.60 bp | 10.0 bp −$10 | 11.0 bp −$110 | doesn't fit | doesn't fit |
| Sell Deribit live order book, 32 min ago | 6.02 bp | 10.7 bp −$11 | 12.7 bp −$127 | doesn't fit | doesn't fit |
MSTR price on every exchange
against the cheapest. Click to use as the short leg.Coinbase International164.72cheapestApeX Omni166.09+0.832%Variational Omni166.09+0.832%Phoenix166.09+0.834%BloFin166.21+0.905%edgeX166.23+0.920%Injective166.28+0.947%Ondo Perps166.29+0.953%Nado166.33+0.980%Extended166.44+1.045%Aster166.48+1.070%
Coinbase International
ApeX Omni
Variational Omni
Phoenix
BloFin
Injective
Ondo Perps
Nado
Extended
AstertradeXYZ166.49+1.075%
Phemex166.49+1.075%Gate166.51+1.087%Pacifica166.51+1.088%Binance166.52+1.091%Lighter166.52+1.093%SoDEX166.53+1.099%OKX166.55+1.111%Bitget166.55+1.111%Polymarket Perps166.55+1.111%Paradex166.56+1.117%QFEX166.56+1.117%KuCoin166.56+1.117%Orderly166.56+1.117%Aevo166.58+1.127%RISEx166.58+1.131%Bybit166.59+1.135%Vest166.59+1.135%
Phemex
Gate
Pacifica
Binance
Lighter
SoDEX
OKX
Bitget
Polymarket Perps
Paradex
QFEX
KuCoin
Orderly
Aevo
RISEx
Bybit
VestDeribit166.59+1.135%
Arcus166.68+1.190%
ArcusMSTR 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 | −1.063% | +0.0104% | 1h | $1.4M | $1.1M | 10x | as long as short |
| ApeX Omni MSTRUSDT | −0.240% | +0.0100% | 1h | $4K | $1.4M | 50x | as long as short |
| Variational Omni MSTR | −0.240% | +0.0075% | 8h | $1.2M | $2.4M | — | as long as short |
| Phoenix MSTR | −0.238% | +0.0237% | 1h | $55K | $384K | 10x | as long as short |
| BloFin MSTR-USDT | −0.168% | +0.0259% | 8h | $1.1M | $1.6M | 20x | as long as short |
| edgeX MSTRUSDC | −0.153% | +0.0159% | 4h | $45K | $5.2M | 10x | as long as short |
| Injective MSTR/USDC PERP | −0.126% | +0.0188% | 1h | $12K | $48K | 30x | as long as short |
| Ondo Perps MSTR-USD.P | −0.120% | +0.0050% | 1h | $776K | $4.7M | 10x | as long as short |
| Nado MSTR-PERP | −0.094% | +0.0022% | 1h | $124K | $218K | 3x | as long as short |
| Extended MSTR_24_5-USD | −0.029% | +0.0032% | 1h | $577K | $2.1M | 10x | as long as short |
Show all 31 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Aster MSTRUSDT | −0.004% | +0.0124% | 8h | $1.3M | $6.1M | 50x | as long as short |
| tradeXYZ xyz:MSTRlong | 0.000% | +0.0095% | 1h | $56.5M | $34.0M | 10x | |
| Phemex MSTRUSDT | 0.000% | 0.0000% | 4h | $2.8M | $47K | 10x | as long as short |
| Gate MSTR_USDT | +0.012% | 0.0000% | 8h | $4.8M | $18.8M | 50x | as long as short |
| Pacifica MSTR | +0.013% | +0.0100% | 1h | $102K | $152K | 10x | as long as short |
| Binance MSTRUSDT | +0.016% | +0.0138% | 8h | $87.5M | $600.3M | 50x | as long as short |
| Lighter MSTR | +0.018% | +0.0032% | 1h | $3.5M | $2.6M | 10x | as long as short |
| SoDEX MSTR-USD | +0.024% | +0.0050% | 1h | $44K | $3K | 10x | as long as short |
| OKX MSTR-USDT-SWAP | +0.036% | +0.0109% | 8h | $22.2M | $102.8M | 50x | as long as short |
| Bitget MSTRUSDT | +0.036% | +0.0221% | 8h | $28.5M | $113.2M | 25x | as long as short |
| Polymarket Perps MSTR-USD | +0.036% | +0.0050% | 1h | $406K | $2.4M | 10x | as long as short |
| Paradex MSTR-USD-PERP | +0.042% | +0.0076% | 8h | $67 | — | 5x | as long as short |
| QFEX MSTR-USD | +0.042% | +0.0065% | 1h | $1.4M | $9.8M | 10x | as long as short |
| KuCoin MSTRUSDTM | +0.042% | +0.0100% | 8h | $2.6M | $2.7M | 20x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | +0.042% | +0.0100% | 8h | $3K | $12K | 10x | as long as short |
| Aevo MSTR-PERP | +0.052% | +0.0104% | 1h | $138 | — | 10x | as long as short |
| RISEx MSTR/USDC | +0.056% | 0.0000% | 1h | $289K | $471K | 10x | as long as short |
| Bybit MSTRUSDT | +0.060% | +0.0291% | 8h | $15.5M | $40.2M | 50x | as long as short |
| Vest MSTR-USD-PERP | +0.060% | +0.0046% | 1h | — | $1.9M | 25x | as long as short |
| Deribit MSTR_USDC-PERPETUALshort | +0.060% | +0.0531% | 1h | $283K | $439K | 10x | |
| Arcus MSTR-USD | +0.114% | +0.0553% | 1h | $27K | $125K | 10x | as long as short |