Funding you earn now, next payment 08:00 UTC+0.0105%/8h= +11.5% APRpaid last 24h +0.058%
Price spread now: Phoenix against Bybit+0.022%7-day average +0.008% · you sell dearer than you buy
Net, funding: paid 7d − costs−$13as in the Funding arb table
Net, price: spread back to 7d avg − costs−$40as in the Price arb table
costs, in and out, $10k−$410.411% of the position
Funding, last 7 days+0.286%+$29 on $10k
+Price spread, last 4 days (all we have)−0.058%−$6 · spread now +0.022%, 7d avg +0.008%
=The price spread sits at its 7-day average of +0.008%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit MUUSDT | 1,032.5 | 0.0126 | pay 0.0126% / 8h | 7h 00m | $18.6M | $32.5M | 100x |
| Short | Phoenix MU | 1,032.7 | 0.0231 | get 0.0029% / 1h | 0m 52s | $529K | $270K | 15x |
Bybit MUUSDT
Phoenix MUFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Bybit. 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
- $22.13
- Price spread: +0.022% → +0.008%
- $1.43
- Slippage, 4 orders
- −$23.09
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$17.54
- Costs to cover
- 0.411%
- Break-even
- 12.5 days
Slippage from Bybit: live order book, 3 min ago; Phoenix: live order book, 32 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 Bybit live order book, 3 min ago | 0.53 bp | 7.7 bp −$8 | 13.0 bp −$130 | 32.6 bp −$3,263 | doesn't fit |
| Sell Phoenix live order book, 32 min ago | 3.90 bp | 13.2 bp −$13 | 29.4 bp −$294 | 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 | −0.0053% | 4h | 1,033.2 | +0.069% | $1.3M | $695K | 10x | as long as short |
| Aster MUUSD1 | 0.0000% | 8h | 1,032.9 | +0.040% | $21.1M | $69.6M | 20x | as long as short |
| Binance MUUSDT | 0.0000% | 8h | 1,032.5 | −0.002% | $121.5M | $550.9M | 50x | as long as short |
| OKX MU-USDT-SWAP | 0.0000% | 8h | 1,032.4 | −0.008% | $29.1M | $104.4M | 50x | as long as short |
| RISEx MU/USDC | 0.0000% | 1h | 1,032.8 | +0.029% | $294K | $375K | 20x | as long as short |
| Gate MU_USDT | 0.0000% | 8h | 1,032.2 | −0.024% | $61.6M | $28.8M | 75x | as long as short |
| Bitget MUUSDT | 0.0000% | 8h | 1,032.3 | −0.015% | $19.4M | $41.8M | 50x | as long as short |
| Variational Omni MU | 0.0000% | 8h | 1,032.4 | −0.007% | $2.5M | $2.7M | — | as long as short |
| StandX MU-USD | 0.0000% | 1h | 1,032.1 | −0.040% | $187K | $3.7M | 20x | as long as short |
| SunX MU-USDT | 0.0000% | 8h | 1,034.4 | +0.184% | $11K | $5.3M | 10x | as long as short |
edgeX MUUSDC
Aster MUUSD1
Binance MUUSDT
OKX MU-USDT-SWAP
RISEx MU/USDC
Gate MU_USDT
Bitget MUUSDT
Variational Omni MU
StandX MU-USD
SunX MU-USDTShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX MU-USDT | 0.0000% | 8h | 1,032.9 | +0.045% | $119K | $493K | 50x | as long as short |
| QFEX MU-USD | +0.0027% | 1h | 1,033.2 | +0.072% | $7.0M | $19.0M | 10x | as long as short |
| Aftermath Perps MUUSD | +0.0029% | 1h | 1,032.1 | −0.033% | $3K | $43K | 10x | as long as short |
| Lighter RH MU | +0.0032% | 1h | 1,032.3 | −0.015% | $1.1M | $4.6M | 10x | as long as short |
| Injective MU/USDC PERP | +0.0033% | 1h | 1,051.4 | +1.830% | $19K | $5K | 12x | as long as short |
| Arcus MU-USD | +0.0040% | 1h | 1,032.9 | +0.041% | $90K | $234K | 10x | as long as short |
| Vest MU-USD-PERP | +0.0046% | 1h | 1,033.4 | +0.088% | — | $179K | 25x | as long as short |
| Polymarket Perps MU-USD | +0.0050% | 1h | 1,032.9 | +0.042% | $167K | $177K | 10x | as long as short |
| Ondo Perps MU-USD.P | +0.0050% | 1h | 1,032.1 | −0.041% | $1.9M | $3.2M | 10x | as long as short |
| Aevo MU-PERP | +0.0080% | 1h | 1,032.7 | +0.020% | $32K | $1K | 10x | as long as short |
| Paradex MU-USD-PERP | +0.0088% | 8h | 1,033 | +0.053% | $2K | — | 5x | as long as short |
| Coinbase International MU-PERP-INTX | +0.0096% | 1h | 1,030.9 | −0.149% | $720K | $1.1M | 10x | as long as short |
| Pacifica MU | +0.0100% | 1h | 1,033.2 | +0.074% | $146K | $214K | 10x | as long as short |
| KuCoin MUUSDTM | +0.0100% | 8h | 1,032.2 | −0.028% | $5.1M | $5.0M | 20x | as long as short |
| ApeX Omni MUUSDT | +0.0100% | 1h | 1,033.2 | +0.067% | $70K | $270K | 50x | as long as short |
| Orderly PERP_MU_USDC_mythos | +0.0100% | 8h | 1,033.1 | +0.057% | $821 | $799 | 20x | as long as short |
| Nado MU-PERP | +0.0116% | 1h | 1,032.2 | −0.027% | $264K | $811K | 10x | as long as short |
| BloFin MU-USDT | +0.0120% | 8h | 1,033 | +0.055% | $1.4M | $2.3M | 20x | as long as short |
| SoDEX MU-USD | +0.0124% | 1h | 1,032.8 | +0.036% | $678K | $14K | 10x | as long as short |
| Bybit MUUSDTlong | +0.0126% | 8h | 1,032.5 | long leg | $18.6M | $32.5M | 100x | |
| tradeXYZ xyz:MU | +0.0130% | 1h | 1,032.2 | −0.026% | $174.7M | $78.3M | 10x | as long as short |
| Lighter MU | +0.0144% | 1h | 1,032.6 | +0.008% | $997K | $5.1M | 20x | as long as short |
| Bullet MU-USD | +0.0182% | 1h | 1,033.2 | +0.071% | $26K | $388K | 10x | as long as short |
| Extended MU_24_5-USD | +0.0224% | 1h | 1,031.7 | −0.070% | $542K | $1.1M | 10x | as long as short |
| Phoenix MUshort | +0.0231% | 1h | 1,032.7 | +0.022% | $529K | $270K | 15x | |
| GRVT MU_USDT_Perp | +0.0373% | 8h | 1,033.3 | +0.081% | $81K | $1.4M | 10x | as long as short |
| Deribit MU_USDC-PERPETUAL | +0.0389% | 1h | 1,032.8 | +0.033% | $72K | $636K | 10x | as long as short |
HTX MU-USDT
QFEX MU-USD
Aftermath Perps MUUSD
Lighter RH MU
Injective MU/USDC PERP
Arcus MU-USD
Vest MU-USD-PERP
Polymarket Perps MU-USD
Ondo Perps MU-USD.P
Aevo MU-PERP
Paradex MU-USD-PERP
Coinbase International MU-PERP-INTX
Pacifica MU
KuCoin MUUSDTM
ApeX Omni MUUSDT
Orderly PERP_MU_USDC_mythos
Nado MU-PERP
BloFin MU-USDT
SoDEX MU-USD
tradeXYZ xyz:MU
Lighter MU
Bullet MU-USD
Extended MU_24_5-USD
GRVT MU_USDT_Perp
Deribit MU_USDC-PERPETUAL