Spread before costs (cost unknown: a leg has no order-book sample)−0.022%
7d average—if it closes, per $10,000$2funding while held, a day−$0.90
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Variational Omni MSTR | 166.10 | 0.0080 | pay 0.0080% / 8h | 5h 08m | $1.2M | $2.4M | — |
| Short | SoDEX MSTR-USD | 166.06 | 0.0050 | get 0.0006% / 1h | 8m 44s | $44K | $3K | 10x |
Variational Omni MSTR
SoDEX MSTR-USDPrice 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
- −$2.16
- Funding while held
- −$0.9
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Net
- −$11.06
- Spread needed to break even
- 0.080%
Slippage unknown: Variational Omni: RFQ quote, 2 min ago; SoDEX: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0030%
- Per $10,000 a day
- −$0.90
- 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 Variational Omni RFQ quote, 2 min ago | 3.58 bp | doesn't fit | 10.7 bp −$107 | doesn't fit | doesn't fit |
| Sell SoDEX no order-book sample | — | — | — | — | — |
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 International164.72cheapestExtended165.91+0.719%tradeXYZ165.98+0.765%Ondo Perps165.99+0.771%Pacifica165.99+0.772%Paradex166.00+0.780%Lighter166.01+0.783%KuCoin166.01+0.783%ApeX Omni166.01+0.783%Deribit166.02+0.789%Phemex166.02+0.789%Gate166.03+0.795%Bitget166.04+0.801%Binance166.04+0.803%Aevo166.05+0.806%BloFin166.05+0.807%RISEx166.06+0.811%
Coinbase International
Extended
tradeXYZ
Ondo Perps
Pacifica
Paradex
Lighter
KuCoin
ApeX Omni
Deribit
Phemex
Gate
Bitget
Binance
Aevo
BloFin
RISExSoDEX166.06+0.814%
Phoenix166.07+0.820%Orderly166.07+0.820%OKX166.08+0.826%Aster166.09+0.832%
Phoenix
Orderly
OKX
AsterVariational Omni166.10+0.835%
edgeX166.11+0.843%Bybit166.11+0.844%Arcus166.11+0.844%Nado166.11+0.846%Polymarket Perps166.18+0.886%QFEX166.19+0.892%Vest166.19+0.892%Injective166.28+0.947%
Bybit
Arcus
Nado
Polymarket Perps
QFEX
Vest
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 | −0.828% | +0.0104% | 1h | $1.4M | $1.1M | 10x | as long as short |
| Extended MSTR_24_5-USD | −0.115% | +0.0032% | 1h | $577K | $2.1M | 10x | as long as short |
| tradeXYZ xyz:MSTR | −0.070% | +0.0093% | 1h | $56.4M | $34.0M | 10x | as long as short |
| Ondo Perps MSTR-USD.P | −0.064% | +0.0050% | 1h | $777K | $4.7M | 10x | as long as short |
| Pacifica MSTR | −0.063% | +0.0100% | 1h | $101K | $152K | 10x | as long as short |
| Paradex MSTR-USD-PERP | −0.055% | +0.0076% | 8h | $66 | — | 5x | as long as short |
| Lighter MSTR | −0.052% | +0.0032% | 1h | $3.5M | $2.6M | 10x | as long as short |
| KuCoin MSTRUSDTM | −0.052% | +0.0100% | 8h | $2.6M | $2.7M | 20x | as long as short |
| ApeX Omni MSTRUSDT | −0.052% | +0.0100% | 1h | $4K | $1.4M | 50x | as long as short |
| Deribit MSTR_USDC-PERPETUAL | −0.046% | +0.0534% | 1h | $282K | $439K | 10x | as long as short |
Show all 31 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Phemex MSTRUSDT | −0.046% | 0.0000% | 4h | $2.8M | $47K | 10x | as long as short |
| Gate MSTR_USDT | −0.040% | 0.0000% | 8h | $4.8M | $18.8M | 50x | as long as short |
| Bitget MSTRUSDT | −0.034% | +0.0220% | 8h | $28.5M | $113.2M | 25x | as long as short |
| Binance MSTRUSDT | −0.031% | +0.0141% | 8h | $87.3M | $600.0M | 50x | as long as short |
| Aevo MSTR-PERP | −0.029% | +0.0104% | 1h | $138 | — | 10x | as long as short |
| BloFin MSTR-USDT | −0.028% | +0.0262% | 8h | $1.1M | $1.6M | 20x | as long as short |
| RISEx MSTR/USDC | −0.024% | 0.0000% | 1h | $285K | $469K | 10x | as long as short |
| SoDEX MSTR-USDshort | −0.022% | +0.0050% | 1h | $44K | $3K | 10x | |
| Phoenix MSTR | −0.016% | +0.0237% | 1h | $55K | $384K | 10x | as long as short |
| Orderly PERP_MSTR_USDC_mythos | −0.016% | +0.0100% | 8h | $3K | $12K | 10x | as long as short |
| OKX MSTR-USDT-SWAP | −0.010% | +0.0109% | 8h | $22.1M | $102.4M | 50x | as long as short |
| Aster MSTRUSDT | −0.003% | +0.0125% | 8h | $1.3M | $6.1M | 50x | as long as short |
| Variational Omni MSTRlong | 0.000% | +0.0080% | 8h | $1.2M | $2.4M | — | |
| edgeX MSTRUSDC | +0.008% | +0.0325% | 4h | $45K | $5.2M | 10x | as long as short |
| Bybit MSTRUSDT | +0.009% | +0.0288% | 8h | $15.4M | $40.3M | 50x | as long as short |
| Arcus MSTR-USD | +0.009% | +0.0553% | 1h | $27K | $122K | 10x | as long as short |
| Nado MSTR-PERP | +0.011% | +0.0023% | 1h | $124K | $227K | 3x | as long as short |
| Polymarket Perps MSTR-USD | +0.051% | +0.0050% | 1h | $405K | $2.4M | 10x | as long as short |
| QFEX MSTR-USD | +0.057% | +0.0065% | 1h | $1.4M | $9.8M | 10x | as long as short |
| Vest MSTR-USD-PERP | +0.057% | +0.0046% | 1h | — | $1.9M | 25x | as long as short |
| Injective MSTR/USDC PERP | +0.111% | +0.0188% | 1h | $12K | $48K | 30x | as long as short |