Settings8H · net · $10k
LanguageThe language of the site
FundingPeriod funding rates are shown in
UnitsPercent or basis points
CostsCount taker fees and slippage in Net
SizePosition per leg used for Net and slippage
ExchangesWhich exchanges to include everywhere
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Funding arb · Price arb / RWA

MSTR

RWAAll MSTR markets →
Backtest 30d
LegExchangePriceFund. /8hEach paymentNext inOIVol 24hLev
LONG
edgeXMSTRUSDC
154.02+0.0477pay 0.0239% / 4h3h 58m$49K$2.7M10xLong edgeX
SHORT
PopdexMSTRUSDT
154.22+0.0232get 0.0029% / 1h58m 59s$21K$318K20xShort Popdex
Price gap+0.128%
Funding gap−0.0245% /8h

The gap pays +$10 on $10k if it goes back to its 7d average, but funding costs $7 a day and eats that in about 32 hours.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast
Funding−$73−0.0245% /8h now · paid −0.728% over the last 6 days (all we have)
Price+$10spread +0.128% now, avg +0.029% → +0.099% if it goes back
Costs−$330.335% of $10k · taker + slippage, in and out
Result−$96−0.96%+ Points / potential airdropedgeX: points · farm boardWhat the last 7D really paid, hour by hour → backtest

Price and funding

1h · loading 5m…
PRICE SPREAD · 7D
Now+0.128%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

MSTR on 35 exchanges

lowest funding first

Before you open

3 ok · 3 to watch
  • Watch: Large against open interest10.9 / 5.3 bp
    $10k is over 10% of Popdex’s open interest.
  • Note: Margin at max leverage$1,000 + $500
    edgeX 10x, Popdex 20x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
  • Watch: Payment intervals differ4h / 1h
    Payments land at different times. Close right after the slower leg pays.
    Next 24h at the current rates, on $10k a leg: −$7.35Long edgeX: 6 payments, −$14.31; short Popdex: 24 payments, +$6.96.
  • OK: Entry gap works for you+0.128% vs +0.029%
    You short the dearer leg. If the gap goes back to average, the short gains.
  • Watch: Short leg is thinner$21K vs $49K OI
    Popdex sets your exit cost. Check its book before closing.
  • OK: Points on a legedgeX points
    Volume here counts toward the points program.
  • OK: No KYC on either legedgeX No · Popdex No
    Both exchanges let you trade without ID.

Profit calculator

both legs, in and out
Position, each leg
Hold for
Orders
Price spread
Funding rate
Funding earned−0.0386%/8h × 21 periods−$81.03
Price spread+0.128% → +0.029% (7d avg)+$9.88
Slippage, 4 orderslive order books−$18.06
Fee edgeX bp × 2 orders−$9.00
Fee Popdex bp × 2 orders−$6.40
Net · 7 days · $10k−$104.61
Costs to cover0.335%Break-evennever at this rate
Slippage: edgeX: live order book, 4 min ago; Popdex: live order book, 57 min ago

Cost to enter

taker + slippage from mid, one side
BUY · LONGedgeX5.8410.9 bp−$1118.4 bp−$184doesn’t fitdoesn’t fit
SELL · SHORTPopdex1.305.3 bp−$513.4 bp−$134doesn’t fitdoesn’t fit

Closing costs about the same again.

Alert

MSTR news

posts that mention MSTR or Strategy (MicroStrategy), from every exchangeSearch all news →
09-28 19:52RISExContestRISEx did $769.5M last week, up 15% from $669.4M BTC volume alone grew 37%, from $192.6M to $263.8M MSTR just entered our RWA leaderboard for the first time at $10.4M; in the same week, BTC volume surged - not a coincidence at all. What are we trading this week? @risextrade on X ↗
09-25 00:50InjectiveTokenThe Injective Stockdrop officially starts next week. Anyone who participated in the $INJ BuyBack yesterday will be eligible to earn a stock token on Robinhood Chain. Here are just a few of the tokenized stocks that you could get: $AMC $SNAP $GLXY $HIMS $SMCI $RKLB $CRCL $INTC $MSTR $SPCX $COIN $NVDA $AAPL $TSLA $META $MU $SNDK More ▇▇▇▇ and ▇▇ @injective on X ↗
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09-22 08:29BitgetOtherNew CandyBomb Alert on #Bitget! 🚨 Trade futures and claim your share of 120 $MSTR in rToken. Details. @bitget on X ↗
09-21 20:49BackpackOtherJUST IN: Michael Saylor’s Strategy now has nearly $10 billion in unrealized gains on its Bitcoin holdings as $BTC trades above $87,000. $MSTR +30.14% over the past week @Backpack on X ↗