Funding you earn now, next payment 07:00 UTC−0.0040%/8h= −4.4% APRnext payment −$0.05 per $10,000 · paid last 24h −0.003%
Price spread now: Bullet against Arcus−0.044%47s7-day average +0.049% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$330.334% of the position
Funding, last 3 days (all we have)+0.010%+$1 on $10k
+Price spread, last 4 days (all we have)+0.049%+$5 · spread now −0.044%, 7d avg +0.049%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bullet is 0.093% cheaper against Arcus than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.049%). Swap the legs. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Arcus MU-USD | 1,039.3 | 0.0040 | pay 0.0005% / 1h | 55m 23s | $70K | $231K | 10x |
| Short | Bullet MU-USD | 1,038.9 | 0 | get 0.0000% / 1h | 55m 23s | $26K | $390K | 10x |
Arcus MU-USD
Bullet MU-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bullet against Arcus. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$8.46
- Price spread: −0.044% → +0.049%
- −$9.28
- Slippage, 4 orders
- −$20.86
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee Bullet: 4 bp × 2 orders
- −$8
- Net
- −$51.11
- Costs to cover
- 0.334%
- Break-even
- never at this rate
Slippage from Arcus: live order book, 53 min ago; Bullet: live order book, 54 min ago.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Arcus live order book, 53 min ago | 3.74 bp | 9.4 bp −$9 | 13.5 bp −$135 | doesn't fit | doesn't fit |
| Sell Bullet live order book, 54 min ago | 0.96 bp | 6.6 bp −$7 | 21.3 bp −$213 | doesn't fit | doesn't fit |
MU on 37 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| edgeX MUUSDC | −0.0729% | 4h | 1,040.3 | +0.091% | $1.3M | $671K | 10x | as long as short |
| Bitget MUUSDT | −0.0067% | 8h | 1,039 | −0.032% | $20.3M | $41.3M | 50x | as long as short |
| Nado MU-PERP | 0.0000% | 1h | 1,038.5 | −0.083% | $277K | $817K | 10x | as long as short |
| Aster MUUSD1 | 0.0000% | 8h | 1,039.1 | −0.026% | $21.2M | $57.3M | 20x | as long as short |
| Binance MUUSDT | 0.0000% | 8h | 1,038.8 | −0.056% | $121.8M | $536.6M | 50x | as long as short |
| Bybit MUUSDT | 0.0000% | 8h | 1,038.8 | −0.050% | $18.6M | $32.2M | 100x | as long as short |
| OKX MU-USDT-SWAP | 0.0000% | 8h | 1,038.9 | −0.038% | $29.9M | $101.5M | 50x | as long as short |
| RISEx MU/USDC | 0.0000% | 1h | 1,039 | −0.034% | $315K | $384K | 20x | as long as short |
| Gate MU_USDT | 0.0000% | 8h | 1,038.6 | −0.069% | $61.5M | $28.2M | 75x | as long as short |
| Variational Omni MU | 0.0000% | 8h | 1,038.8 | −0.055% | $2.5M | $2.6M | — | as long as short |
edgeX MUUSDC
Bitget MUUSDT
Nado MU-PERP
Aster MUUSD1
Binance MUUSDT
Bybit MUUSDT
OKX MU-USDT-SWAP
RISEx MU/USDC
Gate MU_USDT
Variational Omni MUShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT MU_USDT_Perp | 0.0000% | 8h | 1,039.7 | +0.039% | $84K | $1.4M | 10x | as long as short |
| StandX MU-USD | 0.0000% | 1h | 1,038.7 | −0.057% | $188K | $3.5M | 20x | as long as short |
| Bullet MU-USDshort | 0.0000% | 1h | 1,038.9 | −0.044% | $26K | $390K | 10x | |
| SunX MU-USDT | 0.0000% | 8h | 1,040.9 | +0.153% | $11K | $5.6M | 10x | as long as short |
| HTX MU-USDT | 0.0000% | 8h | 1,038.8 | −0.050% | $128K | $441K | 50x | as long as short |
| Aftermath Perps MUUSD | +0.0019% | 1h | 1,039.5 | +0.015% | $3K | $44K | 10x | as long as short |
| Lighter RH MU | +0.0032% | 1h | 1,038.9 | −0.044% | $1.2M | $4.4M | 10x | as long as short |
| Extended MU_24_5-USD | +0.0032% | 1h | 1,038.3 | −0.096% | $544K | $1.1M | 10x | as long as short |
| QFEX MU-USD | +0.0032% | 1h | 1,038.5 | −0.078% | $7.0M | $18.4M | 10x | as long as short |
| Injective MU/USDC PERP | +0.0033% | 1h | 1,051.4 | +1.157% | $19K | $5K | 12x | as long as short |
| Deribit MU_USDC-PERPETUAL | +0.0039% | 1h | 1,038.6 | −0.073% | $74K | $540K | 10x | as long as short |
| Arcus MU-USDlong | +0.0040% | 1h | 1,039.3 | long leg | $70K | $231K | 10x | |
| Vest MU-USD-PERP | +0.0046% | 1h | 1,039 | −0.031% | — | $175K | 25x | as long as short |
| tradeXYZ xyz:MU | +0.0050% | 1h | 1,038.5 | −0.080% | $176.6M | $90.9M | 10x | as long as short |
| Polymarket Perps MU-USD | +0.0050% | 1h | 1,038.4 | −0.089% | $169K | $196K | 10x | as long as short |
| SoDEX MU-USD | +0.0050% | 1h | 1,038.9 | −0.039% | $682K | $15K | 10x | as long as short |
| Ondo Perps MU-USD.P | +0.0050% | 1h | 1,038.9 | −0.043% | $1.8M | $2.5M | 10x | as long as short |
| Paradex MU-USD-PERP | +0.0053% | 8h | 1,038.8 | −0.049% | $2K | — | 5x | as long as short |
| Lighter MU | +0.0064% | 1h | 1,039 | −0.030% | $1.1M | $4.9M | 20x | as long as short |
| Aevo MU-PERP | +0.0080% | 1h | 1,038.5 | −0.079% | $32K | $1K | 10x | as long as short |
| Pacifica MU | +0.0100% | 1h | 1,038.6 | −0.070% | $147K | $190K | 10x | as long as short |
| KuCoin MUUSDTM | +0.0100% | 8h | 1,038.6 | −0.069% | $5.2M | $3.9M | 20x | as long as short |
| ApeX Omni MUUSDT | +0.0100% | 1h | 1,039.2 | −0.013% | $70K | $269K | 50x | as long as short |
| Orderly PERP_MU_USDC_mythos | +0.0100% | 8h | 1,038.6 | −0.069% | $826 | $799 | 20x | as long as short |
| Coinbase International MU-PERP-INTX | +0.0104% | 1h | 1,036 | −0.323% | $731K | $1.3M | 10x | as long as short |
| BloFin MU-USDT | +0.0120% | 8h | 1,039.6 | +0.030% | $1.4M | $2.1M | 20x | as long as short |
| Phoenix MU | +0.0231% | 1h | 1,039.4 | +0.007% | $532K | $270K | 15x | as long as short |
GRVT MU_USDT_Perp
StandX MU-USD
SunX MU-USDT
HTX MU-USDT
Aftermath Perps MUUSD
Lighter RH MU
Extended MU_24_5-USD
QFEX MU-USD
Injective MU/USDC PERP
Deribit MU_USDC-PERPETUAL
Vest MU-USD-PERP
tradeXYZ xyz:MU
Polymarket Perps MU-USD
SoDEX MU-USD
Ondo Perps MU-USD.P
Paradex MU-USD-PERP
Lighter MU
Aevo MU-PERP
Pacifica MU
KuCoin MUUSDTM
ApeX Omni MUUSDT
Orderly PERP_MU_USDC_mythos
Coinbase International MU-PERP-INTX
BloFin MU-USDT
Phoenix MU