MSTR

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	PopdexMSTRUSDT	156.67	+0.0048	pay 0.0006% / 1h	51m 29s	$25K	$287K	20x	Long Popdex
SHORT	PhemexMSTRUSDT	156.49	0	0.0000% / 4h	51m 29s	$2.6M	$16K	10x	Short Phemex

Price gap−0.115%

Funding gap−0.0048% /8h

Both sides work against this direction now: funding costs $1 a day on $10k and the gap is 0.150% 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−$15−0.0048% /8h now · paid −0.146% over the last 6 days (all we have)

Price−$15spread −0.115% now, avg +0.036% → −0.150% if it goes back

Costs−$2382.383% of $10k · taker + slippage, in and out

Result−$268−2.68%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−0.115%

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 size5.3 / 98.0 bp
At $10k entering Phemex costs 98.0 bp, fee and slippage, 18.5× Popdex’s.
Note: Margin at max leverage$500 + $1,000
Popdex 20x, Phemex 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
Watch: Payment intervals differ1h / 4h
Payments land at different times. Close right after the slower leg pays.
Next 24h at the current rates, on $10k a leg: −$1.44Long Popdex: 24 payments, −$1.44; short Phemex: 6 payments, $0.00.
Watch: Gap narrower than usual−0.115% vs +0.036%
Less room for the price leg to pay you. If it goes back to average, the short loses.
Watch: Long leg is thinner$25K 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: KYCPopdex No · Phemex Yes
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−$16.76

Price spread−0.115% → +0.036% (7d avg)−$15.05

Slippage, 4 orderslive order books−$219.95

Fee Popdex bp × 2 orders−$6.40

Fee Phemex bp × 2 orders−$12.00

Net · 7 days · $10k−$270.16

Costs to cover2.383%Break-evennever at this rate

Slippage: Popdex: live order book, 25 min ago; Phemex: live order book, 5 min ago

Cost to enter

taker + slippage from mid, one side

BUY · LONGPopdex1.915.3 bp−$58.8 bp−$88doesn’t fitdoesn’t fit

SELL · SHORTPhemex0.9698.0 bp−$98doesn’t fitdoesn’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 ↗