Funding arb · Price arb / RWA

MSTR

RWAAll MSTR markets →

LONGInjective▾Reya −0.0260%Phoenix −0.0024%Aster 0.0000%Binance 0.0000%Bybit 0.0000%OKX 0.0000%RISEx 0.0000%QFEX 0.0000%Gate 0.0000%MEXC 0.0000%KuCoin 0.0000%Bitget 0.0000%Variational Omni 0.0000%GRVT 0.0000%SunX 0.0000%Deribit 0.0000%HTX 0.0000%Phemex 0.0000%Avantis 0.0000%AZverse +0.0008%Lighter +0.0032%Extended +0.0032%Arcus +0.0038%Vest Markets +0.0046%BingX +0.0050%Ondo Perps +0.0050%Orderly +0.0060%Paradex +0.0096%Pacifica +0.0100%ApeX Omni +0.0100%TxFlow +0.0100%Aevo +0.0104%BloFin +0.0120%tradeXYZ +0.0123%Polymarket Perps +0.0127%SoDEX +0.0181%Nado +0.0239%Kraken Futures +0.0335%Injective +0.0440%edgeX +0.0951%

⇄⇅

SHORTPopdex▾edgeX +0.0951%Kraken Futures +0.0335%Nado +0.0239%SoDEX +0.0181%Polymarket Perps +0.0127%tradeXYZ +0.0123%BloFin +0.0120%Aevo +0.0104%Pacifica +0.0100%ApeX Omni +0.0100%TxFlow +0.0100%Paradex +0.0096%Orderly +0.0060%Ondo Perps +0.0050%BingX +0.0050%Popdex +0.0048%Vest Markets +0.0046%Arcus +0.0038%Lighter +0.0032%Extended +0.0032%AZverse +0.0008%Aster 0.0000%Binance 0.0000%Bybit 0.0000%OKX 0.0000%RISEx 0.0000%QFEX 0.0000%Gate 0.0000%MEXC 0.0000%KuCoin 0.0000%Bitget 0.0000%Variational Omni 0.0000%GRVT 0.0000%SunX 0.0000%Deribit 0.0000%HTX 0.0000%Phemex 0.0000%Phoenix −0.0024%Avantis +0.0036%Reya −0.0260%

Backtest 30d☆

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	InjectiveMSTR/USDC PERP	132.05	+0.0440	pay 0.0055% / 1h	51m 22s	$3K	$62K	25x	Long Injective
SHORT	PopdexMSTRUSDT	133.50	+0.0048	get 0.0006% / 1h	51m 22s	$26K	$685K	20x	Short Popdex

Price gap+1.095%

Funding gap−0.0392% /8h

The gap pays +$110 on $10k if it goes back to zero (no 7-day history yet), but funding costs $12 a day and eats that in about 9.3 days.

The current funding rate is far below what this pair has been paying: over the last 7 days it paid +0.152% in total, about +0.0073%/8h on average.

Price and funding

Entry / ExitPrice spreadPricesFundingLeg ratesP&L

1m5m15m1h

1h · history

24H3D7D14D30D90D

Entry / Exit?

Price spread?

Prices?

Funding?per 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now+1.095%

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

24H3D7D14D30D90D

InjectivePopdex

MSTR on 41 exchanges

lowest funding first

Before you open

2 ok · 1 to watch

• i
  Note: Order book unknown—

  No order-book sample for Injective: its slippage is not counted.
• i
  Note: Margin at max leverage$400 + $500

  Injective 25x, Popdex 20x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
• ✓
  OK: Same payment interval1h / 1h

  Both legs pay at the same time.

  Long Injective · 1h−$13.20

  Short Popdex · 1h+$1.44

  now+6h+12h+18h+24h

  Next 24h at the current rates, on $10k a leg: −$11.76Long Injective: 24 payments, −$13.20; short Popdex: 24 payments, +$1.44.
• i
  Note: No 7-day spread history+1.095%

  The gap cannot be compared with its average yet.
• !
  Watch: Long leg is thinner$3K vs $26K OI

  Injective sets your exit cost. Check its book before closing.
• i
  Note: No points program—

  Neither exchange runs points right now.
• ✓
  OK: No KYC on either legInjective No · Popdex No

  Both exchanges let you trade without ID.

Profit calculator

both legs, in and out

Position, each leg

$10k$100k$1M

Hold for

1 day7 days30 days

Orders

takermaker

Price spread

to 7d avgclosesnot counted

Funding rate

range avgcurrent

Funding earned+0.0073%/8h × 21 periods+$15.25

Price spread+1.095% → 0+$109.54

Slippage, 4 ordersno data for Injective—

Fee Injective bp × 2 orders−$0.02

Fee Popdex bp × 2 orders−$6.40

Net, fees only · 7 days · $10k+$118.37

Costs to cover0.064%Break-evenfrom the start

Slippage: Injective: no order-book sample; Popdex: live order book, 16 min ago

Cost to enter

taker + slippage from mid, one side

Leg½ spr$10k$100k$1M$5M

BUY · LONGInjective—————

SELL · SHORTPopdex0.755.9 bp−$612.3 bp−$12364.1 bp−$6,405doesn’t fit

Closing costs about the same again.
Injective: no data.

Alert

FundingSpread

Tell me when it goes above%/8hNot more often than everymin

Create alert

FundingPrice spread

I'm in

MSTR news

posts that mention MSTR or Strategy (MicroStrategy), from every exchangeSearch all news →

10-29 14:50	Phoenix	Other	Five Phoenix-listed equities report after the close today. $SNDK 4:30pm ET. $AMZN, $INTC, $MSTR and $COIN 5:00pm ET. Trade them 24/7 on Phoenix. @PhoenixTrade on X ↗
10-28 17:38	QFEX	Other	Max leverage is increased to 20x across the following markets on QFEX $SNDK, $GOOGL, $NVDA, $MU, $SKHY, $INTC, $NBIS, $CRCL, $CBRS, $META, $TSLA, $MRVL, $AAPL, $AMZN, $MSFT, $MSTR and $ANTHROPIC. @QFEX on X ↗
10-28 14:43	RISEx	Other	Post-FOMC now, then GPB and PCE tomorrow Happy trading: $HOOD: $GOOGL: $SNDK: $INTC: $MSTR: @risextrade on X ↗
10-28 14:43	RISEx	Points	Print Week on RISEx. $HOOD has reported $GOOGL reports tonight $SNDK, $INTC and $MSTR report tomorrow Whatever your read is, trade all five with a 20% points boost through 04th November @risextrade on X ↗
10-28 10:00	GMX	Other	Big tech earnings week: Oct 28: $MSFT, $GOOGL after the close, hours after the Fed decision Oct 29: $AMZN, $MSTR after the close Nov 2: $AAPL, John Ternus’ first call as CEO Watch cloud growth, AI spend, and holiday guidance. All five trade as Solana perps. @GMX_IO on X ↗
10-27 21:16	BingX	Other	Earnings season is heating up for $HOOD and $MSTR 🏦 See what could drive their next moves 👇 @BingXOfficial on X ↗