Funding you earn now, next payment 01:00 UTC+0.0272%/8h= +29.8% APRnext payment +$0.34 per $10,000 · paid last 24h +0.042%
Price spread now: Phoenix against Extended+0.128%108s7-day average +0.049% · you sell dearer than you buy
Net, funding: paid 7d − costs−$10as 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−$330.328% of the position
Funding, last 7 days+0.233%+$23 on $10k
+Price spread, last 4 days (all we have)−0.088%−$9 · spread now +0.128%, 7d avg +0.049%
=Together, before fees+0.145%+ Points / potential airdropExtended: Active · farm board+$14 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Phoenix is 0.079% dearer against Extended than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.049%. The two prices were read 108 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 | Extended MU_24_5-USD | 1,049.5 | 0.0032 | pay 0.0004% / 1h | 21m 35s | $567K | $1.1M | 10x |
| Short | Phoenix MU | 1,050.8 | 0.0304 | get 0.0038% / 1h | 21m 35s | $537K | $273K | 15x |
Extended MU_24_5-USD
Phoenix MUFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Extended. 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
- $57.19
- Price spread: +0.128% → +0.049%
- $7.9
- Slippage, 4 orders
- −$20.81
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $32.28
- Costs to cover
- 0.328%
- Break-even
- 3.0 days
Slippage from Extended: 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 Extended live order book, 2 min ago | 0.14 bp | 3.3 bp −$3 | 19.2 bp −$192 | doesn't fit | 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 | −0.0272% | 4h | 1,050.6 | +0.106% | $1.3M | $671K | 10x | as long as short |
| Nado MU-PERP | −0.0007% | 1h | 1,050.4 | +0.092% | $277K | $855K | 10x | as long as short |
| Bybit MUUSDT | 0.0000% | 8h | 1,050.2 | +0.067% | $19.2M | $32.6M | 100x | as long as short |
| Gate MU_USDT | 0.0000% | 8h | 1,050.2 | +0.069% | $62.1M | $27.7M | 75x | as long as short |
| StandX MU-USD | 0.0000% | 1h | 1,050.4 | +0.091% | $190K | $3.4M | 20x | as long as short |
| Bullet MU-USD | 0.0000% | 1h | 1,050.8 | +0.130% | $25K | $395K | 10x | as long as short |
| SunX MU-USDT | 0.0000% | 8h | 1,051.8 | +0.223% | $11K | $6.0M | 10x | as long as short |
| Deribit MU_USDC-PERPETUAL | 0.0000% | 1h | 1,050.3 | +0.083% | $66K | $337K | 10x | as long as short |
| HTX MU-USDT | 0.0000% | 8h | 1,050.7 | +0.120% | $129K | $425K | 50x | as long as short |
| Aftermath Perps MUUSD | +0.0018% | 1h | 1,050 | +0.049% | $3K | $45K | 10x | as long as short |
edgeX MUUSDC
Nado MU-PERP
Bybit MUUSDT
Gate MU_USDT
StandX MU-USD
Bullet MU-USD
SunX MU-USDT
Deribit MU_USDC-PERPETUAL
HTX MU-USDT
Aftermath Perps MUUSDShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter MU | +0.0032% | 1h | 1,050.1 | +0.059% | $1.1M | $4.8M | 20x | as long as short |
| Lighter RH MU | +0.0032% | 1h | 1,050.1 | +0.064% | $1.1M | $4.2M | 10x | as long as short |
| Extended MU_24_5-USDlong | +0.0032% | 1h | 1,049.5 | long leg | $567K | $1.1M | 10x | |
| QFEX MU-USD | +0.0040% | 1h | 1,050 | +0.051% | $7.4M | $19.5M | 10x | as long as short |
| Arcus MU-USD | +0.0040% | 1h | 1,050.1 | +0.062% | $71K | $236K | 10x | as long as short |
| Vest MU-USD-PERP | +0.0046% | 1h | 1,051.1 | +0.159% | — | $177K | 25x | as long as short |
| tradeXYZ xyz:MU | +0.0050% | 1h | 1,050 | +0.051% | $178.2M | $99.6M | 10x | as long as short |
| Polymarket Perps MU-USD | +0.0050% | 1h | 1,050.6 | +0.109% | $171K | $203K | 10x | as long as short |
| SoDEX MU-USD | +0.0050% | 1h | 1,050.4 | +0.086% | $689K | $16K | 10x | as long as short |
| Ondo Perps MU-USD.P | +0.0050% | 1h | 1,049.9 | +0.042% | $1.9M | $2.4M | 10x | as long as short |
| OKX MU-USDT-SWAP | +0.0056% | 8h | 1,050 | +0.052% | $30.8M | $100.6M | 50x | as long as short |
| Paradex MU-USD-PERP | +0.0063% | 8h | 1,050.2 | +0.069% | $2K | — | 5x | as long as short |
| GRVT MU_USDT_Perp | +0.0085% | 8h | 1,050.7 | +0.122% | $81K | $1.3M | 10x | as long as short |
| Pacifica MU | +0.0100% | 1h | 1,050.2 | +0.072% | $149K | $187K | 10x | as long as short |
| KuCoin MUUSDTM | +0.0100% | 8h | 1,050.2 | +0.074% | $5.3M | $3.5M | 20x | as long as short |
| ApeX Omni MUUSDT | +0.0100% | 1h | 1,050.9 | +0.141% | $71K | $268K | 50x | as long as short |
| Orderly PERP_MU_USDC_mythos | +0.0100% | 8h | 1,050.7 | +0.114% | $835 | $799 | 20x | as long as short |
| Injective MU/USDC PERP | +0.0107% | 1h | 1,051.4 | +0.181% | $19K | $5K | 12x | as long as short |
| Aevo MU-PERP | +0.0128% | 1h | 1,050.4 | +0.089% | $32K | $1K | 10x | as long as short |
| Coinbase International MU-PERP-INTX | +0.0128% | 1h | 1,050.3 | +0.078% | $757K | $1.2M | 10x | as long as short |
| Aster MUUSD1 | +0.0164% | 8h | 1,050.5 | +0.101% | $21.6M | $51.5M | 20x | as long as short |
| Variational Omni MU | +0.0186% | 8h | 1,050.5 | +0.098% | $2.7M | $2.4M | — | as long as short |
| Binance MUUSDT | +0.0201% | 8h | 1,050 | +0.050% | $126.5M | $523.5M | 50x | as long as short |
| Bitget MUUSDT | +0.0245% | 8h | 1,050.2 | +0.071% | $20.6M | $42.0M | 50x | as long as short |
| Phoenix MUshort | +0.0304% | 1h | 1,050.8 | +0.128% | $537K | $273K | 15x | |
| RISEx MU/USDC | +0.0507% | 1h | 1,050.3 | +0.076% | $334K | $348K | 20x | as long as short |
Lighter MU
Lighter RH MU
QFEX MU-USD
Arcus MU-USD
Vest MU-USD-PERP
tradeXYZ xyz:MU
Polymarket Perps MU-USD
SoDEX MU-USD
Ondo Perps MU-USD.P
OKX MU-USDT-SWAP
Paradex MU-USD-PERP
GRVT MU_USDT_Perp
Pacifica MU
KuCoin MUUSDTM
ApeX Omni MUUSDT
Orderly PERP_MU_USDC_mythos
Injective MU/USDC PERP
Aevo MU-PERP
Coinbase International MU-PERP-INTX
Aster MUUSD1
Variational Omni MU
Binance MUUSDT
Bitget MUUSDT
RISEx MU/USDC