MU

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0176%/8h= +19.3% APRnext payment +$0.22 per $10,000 · paid last 24h +0.022%

Price spread now: Phoenix against Coinbase International+0.050%72s7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as 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−$410.406% of the position

Long on Coinbase International Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.053%+$5 on $10k

Price spread, last 3 days (all we have)−0.040%−$4 · spread now +0.050%, 7d avg +0.045%

Together, before fees+0.013%+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.045%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate. The two prices were read 72 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	Coinbase International MU-PERP-INTX	1,050.3	0.0128	pay 0.0016% / 1h	21m 50s	$757K	$1.2M	10x
Short	Phoenix MU	1,050.8	0.0304	get 0.0038% / 1h	21m 50s	$537K	$273K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Coinbase InternationalbpFee PhoenixbpOrdersPrice spread, now +0.050%Rate

Funding earned: $37.03
Price spread: +0.050% → +0.045%: $0.42
Slippage, 4 orders: −$23.61
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$3.15
Costs to cover: 0.406%
Break-even: 7.6 days

Slippage from Coinbase International: live order book, 2 min ago; Phoenix: live order book, 46 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 Coinbase International live order book, 2 min ago	2.95 bp	8.3 bp −$8	12.5 bp −$125	60.7 bp −$6,068	doesn't fit
Sell Phoenix live order book, 46 min ago	3.80 bp	12.1 bp −$12	26.4 bp −$264	doesn't fit	doesn't fit

MU on 36 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	−0.0953%	4h	1,050.1	−0.017%	$1.3M	$670K	10x	as long as short
Nado MU-PERP	−0.0005%	1h	1,050.4	+0.012%	$277K	$855K	10x	as long as short
Bybit MUUSDT	0.0000%	8h	1,050.8	+0.047%	$19.2M	$32.6M	100x	as long as short
Gate MU_USDT	0.0000%	8h	1,050.3	+0.005%	$62.1M	$27.7M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,050.5	+0.016%	$190K	$3.4M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,050.8	+0.051%	$25K	$395K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,051.8	+0.145%	$11K	$6.0M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,050.3	+0.005%	$66K	$337K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,050.7	+0.042%	$129K	$425K	50x	as long as short
Aftermath Perps MUUSD	+0.0018%	1h	1,050	−0.029%	$3K	$45K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MU	+0.0032%	1h	1,050.3	+0.004%	$1.1M	$4.8M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,050.2	−0.010%	$1.1M	$4.2M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,049.8	−0.045%	$567K	$1.1M	10x	as long as short
QFEX MU-USD	+0.0040%	1h	1,050.4	+0.015%	$7.4M	$19.6M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,050.2	−0.010%	$71K	$236K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,051.7	+0.130%	—	$177K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,050.1	−0.017%	$178.2M	$99.6M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,050.6	+0.030%	$171K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,050.4	+0.008%	$689K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,049.9	−0.036%	$1.9M	$2.4M	10x	as long as short
OKX MU-USDT-SWAP	+0.0056%	8h	1,050.4	+0.012%	$30.8M	$100.6M	50x	as long as short
Paradex MU-USD-PERP	+0.0063%	8h	1,050.7	+0.039%	$2K	—	5x	as long as short
GRVT MU_USDT_Perp	+0.0083%	8h	1,050.6	+0.032%	$81K	$1.3M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,050.6	+0.031%	$149K	$187K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,050.3	0.000%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,050.2	−0.004%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050.7	+0.036%	$835	$799	20x	as long as short
Injective MU/USDC PERP	+0.0107%	1h	1,051.4	+0.103%	$19K	$5K	12x	as long as short
Aevo MU-PERP	+0.0128%	1h	1,050.4	+0.011%	$32K	$1K	10x	as long as short
Coinbase International MU-PERP-INTXlong	+0.0128%	1h	1,050.3	long leg	$757K	$1.2M	10x
Aster MUUSD1	+0.0168%	8h	1,050.4	+0.016%	$21.6M	$51.6M	20x	as long as short
Variational Omni MU	+0.0186%	8h	1,050.5	+0.020%	$2.7M	$2.4M	—	as long as short
Binance MUUSDT	+0.0203%	8h	1,050.4	+0.016%	$126.6M	$523.7M	50x	as long as short
Bitget MUUSDT	+0.0246%	8h	1,050.4	+0.010%	$20.6M	$42.0M	50x	as long as short
Phoenix MUshort	+0.0304%	1h	1,050.8	+0.050%	$537K	$273K	15x
RISEx MU/USDC	+0.0507%	1h	1,050.8	+0.050%	$334K	$348K	20x	as long as short