Funding arb · Price arb / RWA

MSTR

RWAAll MSTR markets →

LONGPopdex▾Reya −0.0444%Phoenix −0.0024%Aster 0.0000%Binance 0.0000%OKX 0.0000%RISEx 0.0000%QFEX 0.0000%MEXC 0.0000%Bitget 0.0000%Variational Omni 0.0000%GRVT 0.0000%SunX 0.0000%Deribit 0.0000%HTX 0.0000%Phemex 0.0000%Arcus +0.0038%Vest Markets +0.0046%Lighter +0.0048%Orderly +0.0061%KuCoin +0.0069%Pacifica +0.0100%Gate +0.0100%ApeX Omni +0.0100%TxFlow +0.0100%Aevo +0.0104%Extended +0.0120%BloFin +0.0120%Popdex +0.0128%AZverse +0.0143%Ondo Perps +0.0155%SoDEX +0.0156%Polymarket Perps +0.0171%Paradex +0.0173%tradeXYZ +0.0200%Avantis +0.0243%BingX +0.0272%Bybit +0.0287%Nado +0.0288%Kraken Futures +0.0335%edgeX +0.0727%

⇄⇅

SHORTInjective▾edgeX +0.0727%Injective +0.0440%Kraken Futures +0.0335%Nado +0.0288%Bybit +0.0287%BingX +0.0272%Avantis −0.0207%tradeXYZ +0.0200%Paradex +0.0173%Polymarket Perps +0.0171%SoDEX +0.0156%Ondo Perps +0.0155%AZverse +0.0143%Extended +0.0120%BloFin +0.0120%Aevo +0.0104%Pacifica +0.0100%Gate +0.0100%ApeX Omni +0.0100%TxFlow +0.0100%KuCoin +0.0069%Orderly +0.0061%Lighter +0.0048%Vest Markets +0.0046%Arcus +0.0038%Aster 0.0000%Binance 0.0000%OKX 0.0000%RISEx 0.0000%QFEX 0.0000%MEXC 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%Reya −0.0444%

Backtest 30d☆

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	PopdexMSTRUSDT	133.58	+0.0128	pay 0.0016% / 1h	9m 58s	$26K	$681K	20x	Long Popdex
SHORT	InjectiveMSTR/USDC PERP	132.05	+0.0440	get 0.0055% / 1h	9m 58s	$3K	$62K	25x	Short Injective

Price gap−1.144%58s

Funding gap+0.0312% /8h

Funding pays +$9 a day on $10k, but the gap is 1.144% under zero (no 7-day history yet): −$114 if it goes back, about 12 days of funding.

The current funding rate is far above 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−1.144%

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

PopdexInjective

MSTR on 41 exchanges

lowest funding first

Before you open

2 ok · 2 to watch

• i
  Note: Order book unknown—

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

  Popdex 20x, Injective 25x. 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 Popdex · 1h−$3.84

  Short Injective · 1h+$13.20

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

  Next 24h at the current rates, on $10k a leg: +$9.36Long Popdex: 24 payments, −$3.84; short Injective: 24 payments, +$13.20.
• !
  Watch: Prices read 58 s apart−1.144% vs —

  Part of this gap may be the market moving.
• !
  Watch: Short 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 legPopdex No · Injective 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 spreadprices read too far apart to compare—

Slippage, 4 ordersno data for Injective—

Fee Popdex bp × 2 orders−$6.40

Fee Injective bp × 2 orders−$0.02

Net, fees only · 7 days · $10k−$21.67

price spread not counted: prices read too far apart

Costs to cover0.064%Break-evennever at this rate

Slippage: Popdex: live order book, 58 min ago; Injective: no order-book sample

Cost to enter

taker + slippage from mid, one side

Leg½ spr$10k$100k$1M$5M

BUY · LONGPopdex0.754.7 bp−$58.9 bp−$8969.6 bp−$6,955doesn’t fit

SELL · SHORTInjective—————

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 ↗