MSTR

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	PhemexMSTRUSDT	157.13	0	0.0000% / 4h	9m 43s	$2.6M	$16K	10x	Long Phemex
SHORT	PopdexMSTRUSDT	157.00	+0.0048	get 0.0006% / 1h	9m 43s	$24K	$289K	20x	Short Popdex

Price gap−0.083%

Funding gap+0.0048% /8h

Funding pays +$1 a day on $10k, but the gap is 0.047% under its 7d average: −$5 if it goes back, about 3.3 days of funding.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast

Funding+$15+0.0048% /8h now · paid +0.146% over the last 6 days (all we have)

Price−$5spread −0.083% now, avg −0.036% → −0.047% if it goes back

Costs−$2422.423% of $10k · taker + slippage, in and out

Result−$232−2.32%no pointsWhat the last 7D really paid, hour by hour → backtest

Price and funding

1h · loading 5m…

Price spread

Prices

Fundingper 8h

P&L

PRICE SPREAD · 7D

Now−0.083%

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

0 ok · 5 to watch

Watch: Thin at this size112.3 / 4.7 bp
At $10k entering Phemex costs 112.3 bp, fee and slippage, 23.9× Popdex’s.
Note: Margin at max leverage$1,000 + $500
Phemex 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: +$1.44Long Phemex: 6 payments, $0.00; short Popdex: 24 payments, +$1.44.
Watch: Gap narrower than usual−0.083% vs −0.036%
Less room for the price leg to pay you. If it goes back to average, the short loses.
Watch: Short leg is thinner$24K vs $2.6M OI
Popdex sets your exit cost. Check its book before closing.
Note: No points program—
Neither exchange runs points right now.
Watch: KYCPhemex Yes · Popdex No
KYC unlocks spot and futures trading; an unverified account cannot withdraw at all.

Profit calculator

both legs, in and out

Position, each leg

Hold for

Orders

Price spread

Funding rate

Funding earned+0.0080%/8h × 21 periods+$16.75

Price spread−0.083% → −0.036% (7d avg)−$4.69

Slippage, 4 orderslive order books−$223.90

Fee Phemex bp × 2 orders−$12.00

Fee Popdex bp × 2 orders−$6.40

Net · 7 days · $10k−$230.24

Costs to cover2.423%Break-even103.2 days

Slippage: Phemex: live order book, 7 min ago; Popdex: live order book, 2 min ago

Cost to enter

taker + slippage from mid, one side

BUY · LONGPhemex3.82112.3 bp−$112doesn’t fitdoesn’t fitdoesn’t fit

SELL · SHORTPopdex0.644.7 bp−$512.3 bp−$123doesn’t fitdoesn’t fit

Closing costs about the same again.

MSTR news

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

09-28 19:52	RISEx	Contest	RISEx 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 00:50	Injective	Token	The 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 ↗
09-24 04:00	Gate	Listing	Gate Futures Stocks Section & Forex Zone Initial Listing: $MSTU (2X Long MSTR Daily Target ETF), $OKLO (Oklo Inc.), $USDBRL (USD/BRL) and 9 futures in total. 🔹 Trading Pairs: $MSTU / $USDT, $OKLO / $USDT, $USDBRL / $USDT & 6 more 🔹 Trading Starts: September 24th, 2026 03:00AM (UTC) 🔹 Supports 1 – 20x Leverage, Bots, and Copy Trading 🔹 Gate currently supports trading of 459 stock futures More details: @Gate on X ↗
09-23 11:17	Bitget	Other	If you're already trading $S, $MSTR, $CRCL, $TSLA and other top stocks and commodities, why not check these campaigns to earn rewards too! ⤵️ @bitget on X ↗
09-22 08:29	Bitget	Other	New CandyBomb Alert on #Bitget! 🚨 Trade futures and claim your share of 120 $MSTR in rToken. Details. @bitget on X ↗
09-21 20:49	Backpack	Other	JUST 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 ↗