MSTR

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	PhoenixMSTR	154.02	+0.0306	pay 0.0038% / 1h	31m 09s	$54K	$324K	10x	Long Phoenix
SHORT	PopdexMSTRUSDT	154.02	+0.0048	get 0.0006% / 1h	31m 09s	$21K	$313K	20x	Short Popdex

Price gap0.000%

Funding gap−0.0258% /8h

Both sides work against this direction now: funding costs $8 a day on $10k and the gap is 0.027% under its 7d average. Swap the legs.

If you open now and hold

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

Funding−$45−0.0258% /8h now · paid −0.448% over the last 7D

Price−$3spread 0.000% now, avg +0.027% → −0.027% if it goes back

Costs−$320.323% of $10k · taker + slippage, in and out

Result−$80−0.80%no pointsWhat the last 7D really paid, hour by hour → backtest

Price and funding

1h · history

Entry / ExitPhoenix: thin, under $1M open interest · Popdex: thin, under $1M open interest

Price spread

Prices

Fundingper 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now0.000%

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 34 exchanges

lowest funding first

Before you open

2 ok · 3 to watch

Watch: Large against open interest10.0 / 6.9 bp
$10k is over 10% of Popdex’s open interest.
Note: Margin at max leverage$1,000 + $500
Phoenix 10x, 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.
Next 24h at the current rates, on $10k a leg: −$7.73Long Phoenix: 24 payments, −$9.17; short Popdex: 24 payments, +$1.44.
Watch: Gap narrower than usual0.000% vs +0.027%
Less room for the price leg to pay you. If it goes back to average, the short loses.
Watch: Short leg is thinner$21K vs $54K OI
Popdex sets your exit cost. Check its book before closing.
Note: No points program—
Neither exchange runs points right now.
OK: No KYC on either legPhoenix 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−0.0233%/8h × 21 periods−$48.99

Price spread0.000% → +0.027% (7d avg)−$2.72

Slippage, 4 orderslive order books−$18.88

Fee Phoenix bp × 2 orders−$7.00

Fee Popdex bp × 2 orders−$6.40

Net · 7 days · $10k−$83.99

Costs to cover0.323%Break-evennever at this rate

Slippage: Phoenix: live order book, 58 min ago; Popdex: live order book, 61 min ago

Cost to enter

taker + slippage from mid, one side

BUY · LONGPhoenix2.9810.0 bp−$1020.3 bp−$203doesn’t fitdoesn’t fit

SELL · SHORTPopdex0.976.9 bp−$716.0 bp−$160doesn’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 ↗