Funding you earn now, next payment 21:00 UTC+0.0230%/8h= +25.2% APRpaid last 24h +0.069%
Price spread now: Phoenix against Aster−0.033%115s7-day average +0.002% · you buy dearer than you sell
Net, funding: paid 7d − costs+$8as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$310.313% of the position
Funding, last 7 days+0.397%+$40 on $10k
+Price spread, last 3 days (all we have)−0.050%−$5 · spread now −0.033%, 7d avg +0.002%
=Together, before fees+0.346%+ Points / potential airdropAster: Stage 5 · farm board+$35 on $10k · with fees, hour by hour
Funding pays, the price is against you. Phoenix is 0.035% cheaper against Aster than usual: you would sell low and buy high (spread −0.033% now, against its 7-day average of +0.002%). If the spread goes back, that is −$4 on $10k: about 12 hours of funding at the current rate (+$7 a day). The two prices were read 115 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 | Aster MUUSD1 | 1,044.4 | 0 | get 0.0000% / 8h | 2h 27m | $21.5M | $43.1M | 20x |
| Short | Phoenix MU | 1,044.1 | 0.0230 | get 0.0029% / 1h | 27m 34s | $534K | $303K | 15x |
Aster MUUSD1
Phoenix MUFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Aster. 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
- $48.33
- Price spread: −0.033% → +0.002%
- −$3.5
- Slippage, 4 orders
- −$16.32
- Fee Aster: 4 bp × 2 orders
- −$8
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $13.5
- Costs to cover
- 0.313%
- Break-even
- 5.0 days
Slippage from Aster: live order book, 2 min ago; Phoenix: live order book, 60 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 Aster live order book, 2 min ago | 0.86 bp | 4.9 bp −$5 | 7.8 bp −$78 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 60 min ago | 2.88 bp | 10.4 bp −$10 | 21.9 bp −$219 | 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 | −0.0845% | 4h | 1,043.7 | −0.068% | $1.3M | $674K | 10x | as long as short |
| Aster MUUSD1long | 0.0000% | 8h | 1,044.4 | long leg | $21.5M | $43.1M | 20x | |
| OKX MU-USDT-SWAP | 0.0000% | 8h | 1,044.1 | −0.036% | $30.7M | $104.3M | 50x | as long as short |
| Gate MU_USDT | 0.0000% | 8h | 1,044.1 | −0.037% | $63.0M | $28.9M | 75x | as long as short |
| StandX MU-USD | 0.0000% | 1h | 1,043 | −0.138% | $189K | $3.3M | 20x | as long as short |
| SunX MU-USDT | 0.0000% | 8h | 1,046 | +0.153% | $11K | $6.7M | 10x | as long as short |
| HTX MU-USDT | 0.0000% | 8h | 1,044 | −0.041% | $125K | $443K | 50x | as long as short |
| Aftermath Perps MUUSD | +0.0022% | 1h | 1,043.6 | −0.082% | $3K | $44K | 10x | as long as short |
| Lighter RH MU | +0.0032% | 1h | 1,043.7 | −0.076% | $1.1M | $4.3M | 10x | as long as short |
| Injective MU/USDC PERP | +0.0033% | 1h | 1,050.7 | +0.600% | $14K | $302 | 12x | as long as short |
edgeX MUUSDC
OKX MU-USDT-SWAP
Gate MU_USDT
StandX MU-USD
SunX MU-USDT
HTX MU-USDT
Aftermath Perps MUUSD
Lighter RH MU
Injective MU/USDC PERPShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni MU | +0.0038% | 8h | 1,043.9 | −0.052% | $2.7M | $2.7M | — | as long as short |
| Vest MU-USD-PERP | +0.0046% | 1h | 1,043.9 | −0.054% | — | $193K | 25x | as long as short |
| Polymarket Perps MU-USD | +0.0050% | 1h | 1,043.6 | −0.080% | $165K | $176K | 10x | as long as short |
| Ondo Perps MU-USD.P | +0.0050% | 1h | 1,043.1 | −0.133% | $2.0M | $2.7M | 10x | as long as short |
| QFEX MU-USD | +0.0057% | 1h | 1,044.2 | −0.021% | $7.8M | $24.1M | 10x | as long as short |
| SoDEX MU-USD | +0.0060% | 1h | 1,044 | −0.038% | $685K | $16K | 10x | as long as short |
| Bitget MUUSDT | +0.0061% | 8h | 1,044.1 | −0.032% | $20.5M | $42.9M | 50x | as long as short |
| Binance MUUSDT | +0.0076% | 8h | 1,044.2 | −0.024% | $124.8M | $540.2M | 50x | as long as short |
| Aevo MU-PERP | +0.0096% | 1h | 1,044 | −0.043% | $33K | — | 10x | as long as short |
| Pacifica MU | +0.0100% | 1h | 1,043.4 | −0.104% | $153K | $182K | 10x | as long as short |
| KuCoin MUUSDTM | +0.0100% | 8h | 1,043.5 | −0.086% | $5.2M | $4.0M | 20x | as long as short |
| ApeX Omni MUUSDT | +0.0100% | 1h | 1,043.5 | −0.094% | $71K | $267K | 50x | as long as short |
| Orderly PERP_MU_USDC_mythos | +0.0100% | 8h | 1,044.2 | −0.028% | $830 | $799 | 20x | as long as short |
| Paradex MU-USD-PERP | +0.0109% | 8h | 1,043.8 | −0.060% | $2K | — | 5x | as long as short |
| GRVT MU_USDT_Perp | +0.0126% | 8h | 1,043.9 | −0.054% | $82K | $1.4M | 10x | as long as short |
| Coinbase International MU-PERP-INTX | +0.0152% | 1h | 1,043.3 | −0.114% | $756K | $1.8M | 10x | as long as short |
| Bybit MUUSDT | +0.0163% | 8h | 1,044.3 | −0.014% | $19.1M | $32.5M | 100x | as long as short |
| tradeXYZ xyz:MU | +0.0175% | 1h | 1,044 | −0.042% | $176.4M | $107.0M | 10x | as long as short |
| BloFin MU-USDT | +0.0191% | 8h | 1,044.3 | −0.016% | $1.5M | $2.1M | 20x | as long as short |
| Nado MU-PERP | +0.0194% | 1h | 1,043.2 | −0.114% | $307K | $845K | 10x | as long as short |
| RISEx MU/USDC | +0.0202% | 1h | 1,044.1 | −0.032% | $288K | $331K | 20x | as long as short |
| Lighter MU | +0.0224% | 1h | 1,044 | −0.046% | $1.0M | $4.8M | 20x | as long as short |
| Arcus MU-USD | +0.0226% | 1h | 1,044 | −0.039% | $63K | $236K | 10x | as long as short |
| Bullet MU-USD | +0.0230% | 1h | 1,044.1 | −0.033% | $25K | $399K | 10x | as long as short |
| Phoenix MUshort | +0.0230% | 1h | 1,044.1 | −0.033% | $534K | $303K | 15x | |
| Deribit MU_USDC-PERPETUAL | +0.0315% | 1h | 1,044.1 | −0.036% | $57K | $212K | 10x | as long as short |
| Extended MU_24_5-USD | +0.0616% | 1h | 1,042.9 | −0.144% | $539K | $1.0M | 10x | as long as short |
Variational Omni MU
Vest MU-USD-PERP
Polymarket Perps MU-USD
Ondo Perps MU-USD.P
QFEX MU-USD
SoDEX MU-USD
Bitget MUUSDT
Binance MUUSDT
Aevo MU-PERP
Pacifica MU
KuCoin MUUSDTM
ApeX Omni MUUSDT
Orderly PERP_MU_USDC_mythos
Paradex MU-USD-PERP
GRVT MU_USDT_Perp
Coinbase International MU-PERP-INTX
Bybit MUUSDT
tradeXYZ xyz:MU
BloFin MU-USDT
Nado MU-PERP
RISEx MU/USDC
Lighter MU
Arcus MU-USD
Bullet MU-USD
Deribit MU_USDC-PERPETUAL
Extended MU_24_5-USD