MSTR

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	PopdexMSTRUSDT	154.48	+0.0048	pay 0.0006% / 1h	59m 31s	$21K	$317K	20x	Long Popdex
SHORT	PhoenixMSTR	154.37	+0.0342	get 0.0043% / 1h	59m 31s	$53K	$317K	10x	Short Phoenix

Price gap−0.069%

Funding gap+0.0294% /8h

Funding pays +$9 a day on $10k, but the gap is 0.042% under its 7d average: −$4 if it goes back, about 12 hours of funding.

If you open now and hold

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

Funding+$45+0.0294% /8h now · paid +0.447% over the last 7D

Price−$4spread −0.069% now, avg −0.027% → −0.042% if it goes back

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

Result+$8+0.08%no pointsWhat the last 7D really paid, hour by hour → backtest

Price and funding

1h · history

Entry / ExitPopdex: thin, under $1M open interest · Phoenix: 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

Now−0.069%

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 interest5.2 / 10.1 bp
$10k is over 10% of Popdex’s open interest.
Note: Margin at max leverage$500 + $1,000
Popdex 20x, Phoenix 10x. 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: +$8.81Long Popdex: 24 payments, −$1.44; short Phoenix: 24 payments, +$10.25.
Watch: Gap narrower than usual−0.069% vs −0.027%
Less room for the price leg to pay you. If it goes back to average, the short loses.
Watch: Long leg is thinner$21K vs $53K 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 legPopdex No · Phoenix 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+0.0234%/8h × 21 periods+$49.13

Price spread−0.069% → −0.027% (7d avg)−$4.23

Slippage, 4 orderslive order books−$18.88

Fee Popdex bp × 2 orders−$6.40

Fee Phoenix bp × 2 orders−$7.00

Net · 7 days · $10k+$12.62

Costs to cover0.323%Break-even5.2 days

Slippage: Popdex: live order book, 33 min ago; Phoenix: live order book, 30 min ago

Cost to enter

taker + slippage from mid, one side

BUY · LONGPopdex0.975.2 bp−$511.3 bp−$113doesn’t fitdoesn’t fit

SELL · SHORTPhoenix2.9810.1 bp−$1020.3 bp−$203doesn’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 ↗