Funding you earn now, next payment 04:00 UTC+0.0273%/8h= +29.9% APRnext payment +$0.34 per $10,000 · paid last 24h +0.082%
Price spread now: Phoenix against Lighter RH+0.050%7-day average +0.035% · you sell dearer than you buy
Net, funding: paid 7d − costs+$12as in the Funding arb table
Net, price: spread back to 7d avg − costs−$23as in the Price arb table
costs, in and out, $10k−$240.243% of the position
Funding, last 7 days+0.361%+$36 on $10k
+Price spread, last 4 days (all we have)−0.060%−$6 · spread now +0.050%, 7d avg +0.035%
=Together, before fees+0.301%+ Points / potential airdropLighter RH: Points live · farm board+$30 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.035%, so right now this pair is about funding alone: +$8 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH MU | 1,044.4 | 0.0032 | pay 0.0004% / 1h | 20m 23s | $1.3M | $4.4M | 10x |
| Short | Phoenix MU | 1,044.9 | 0.0305 | get 0.0038% / 1h | 20m 23s | $534K | $271K | 15x |
Lighter RH MU
Phoenix MUFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Lighter RH. 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
- $57.28
- Price spread: +0.050% → +0.035%
- $1.53
- Slippage, 4 orders
- −$17.29
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $34.52
- Costs to cover
- 0.243%
- Break-even
- 2.8 days
Slippage from Lighter RH: 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 Lighter RH live order book, 3 min ago | 0.77 bp | 1.9 bp −$2 | 5.8 bp −$58 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 32 min ago | 2.86 bp | 10.7 bp −$11 | 22.5 bp −$225 | 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 | −0.0096% | 4h | 1,044 | −0.038% | $1.3M | $672K | 10x | as long as short |
| Aster MUUSD1 | 0.0000% | 8h | 1,043.9 | −0.043% | $21.2M | $56.6M | 20x | as long as short |
| Binance MUUSDT | 0.0000% | 8h | 1,043.7 | −0.064% | $123.9M | $522.4M | 50x | as long as short |
| Bybit MUUSDT | 0.0000% | 8h | 1,043.9 | −0.042% | $18.7M | $31.8M | 100x | as long as short |
| OKX MU-USDT-SWAP | 0.0000% | 8h | 1,044.2 | −0.021% | $30.9M | $99.5M | 50x | as long as short |
| RISEx MU/USDC | 0.0000% | 1h | 1,044.2 | −0.020% | $337K | $353K | 20x | as long as short |
| Gate MU_USDT | 0.0000% | 8h | 1,044.2 | −0.022% | $61.9M | $27.9M | 75x | as long as short |
| Bitget MUUSDT | 0.0000% | 8h | 1,044.4 | −0.003% | $20.5M | $41.6M | 50x | as long as short |
| Variational Omni MU | 0.0000% | 8h | 1,045.1 | +0.064% | $2.7M | $2.4M | — | as long as short |
| GRVT MU_USDT_Perp | 0.0000% | 8h | 1,045.6 | +0.119% | $79K | $1.4M | 10x | as long as short |
edgeX MUUSDC
Aster MUUSD1
Binance MUUSDT
Bybit MUUSDT
OKX MU-USDT-SWAP
RISEx MU/USDC
Gate MU_USDT
Bitget MUUSDT
Variational Omni MU
GRVT MU_USDT_PerpShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| StandX MU-USD | 0.0000% | 1h | 1,045 | +0.057% | $189K | $3.4M | 20x | as long as short |
| SunX MU-USDT | 0.0000% | 8h | 1,047.5 | +0.299% | $11K | $5.8M | 10x | as long as short |
| HTX MU-USDT | 0.0000% | 8h | 1,044.8 | +0.038% | $130K | $435K | 50x | as long as short |
| Aftermath Perps MUUSD | +0.0023% | 1h | 1,044.6 | +0.021% | $3K | $44K | 10x | as long as short |
| QFEX MU-USD | +0.0032% | 1h | 1,043.9 | −0.051% | $7.0M | $18.0M | 10x | as long as short |
| Lighter MU | +0.0032% | 1h | 1,044.3 | −0.010% | $1.1M | $5.1M | 20x | as long as short |
| Lighter RH MUlong | +0.0032% | 1h | 1,044.4 | long leg | $1.3M | $4.4M | 10x | |
| Extended MU_24_5-USD | +0.0032% | 1h | 1,043.5 | −0.080% | $548K | $1.1M | 10x | as long as short |
| Injective MU/USDC PERP | +0.0033% | 1h | 1,051.4 | +0.668% | $19K | $5K | 12x | as long as short |
| Nado MU-PERP | +0.0037% | 1h | 1,044.5 | +0.009% | $281K | $828K | 10x | as long as short |
| Arcus MU-USD | +0.0040% | 1h | 1,044.5 | +0.014% | $70K | $233K | 10x | as long as short |
| Bullet MU-USD | +0.0043% | 1h | 1,044 | −0.032% | $25K | $393K | 10x | as long as short |
| Vest MU-USD-PERP | +0.0046% | 1h | 1,044.6 | +0.020% | — | $176K | 25x | as long as short |
| Deribit MU_USDC-PERPETUAL | +0.0047% | 1h | 1,045 | +0.056% | $73K | $477K | 10x | as long as short |
| tradeXYZ xyz:MU | +0.0050% | 1h | 1,043.6 | −0.075% | $176.6M | $95.3M | 10x | as long as short |
| Polymarket Perps MU-USD | +0.0050% | 1h | 1,043.8 | −0.056% | $169K | $203K | 10x | as long as short |
| SoDEX MU-USD | +0.0050% | 1h | 1,044.7 | +0.034% | $686K | $16K | 10x | as long as short |
| Paradex MU-USD-PERP | +0.0050% | 8h | 1,044.2 | −0.020% | $2K | — | 5x | as long as short |
| Ondo Perps MU-USD.P | +0.0050% | 1h | 1,044.3 | −0.008% | $1.9M | $2.2M | 10x | as long as short |
| Aevo MU-PERP | +0.0080% | 1h | 1,044.7 | +0.034% | $32K | $1K | 10x | as long as short |
| Pacifica MU | +0.0100% | 1h | 1,044.4 | 0.000% | $147K | $186K | 10x | as long as short |
| KuCoin MUUSDTM | +0.0100% | 8h | 1,044 | −0.039% | $5.2M | $3.4M | 20x | as long as short |
| ApeX Omni MUUSDT | +0.0100% | 1h | 1,044 | −0.035% | $71K | $269K | 50x | as long as short |
| Orderly PERP_MU_USDC_mythos | +0.0100% | 8h | 1,045 | +0.058% | $831 | $799 | 20x | as long as short |
| Coinbase International MU-PERP-INTX | +0.0120% | 1h | 1,044.8 | +0.035% | $749K | $1.2M | 10x | as long as short |
| BloFin MU-USDT | +0.0120% | 8h | 1,045.3 | +0.086% | $1.5M | $2.0M | 20x | as long as short |
| Phoenix MUshort | +0.0305% | 1h | 1,044.9 | +0.050% | $534K | $271K | 15x |
StandX MU-USD
SunX MU-USDT
HTX MU-USDT
Aftermath Perps MUUSD
QFEX MU-USD
Lighter MU
Extended MU_24_5-USD
Injective MU/USDC PERP
Nado MU-PERP
Arcus MU-USD
Bullet MU-USD
Vest MU-USD-PERP
Deribit MU_USDC-PERPETUAL
tradeXYZ xyz:MU
Polymarket Perps MU-USD
SoDEX MU-USD
Paradex MU-USD-PERP
Ondo Perps MU-USD.P
Aevo MU-PERP
Pacifica MU
KuCoin MUUSDTM
ApeX Omni MUUSDT
Orderly PERP_MU_USDC_mythos
Coinbase International MU-PERP-INTX
BloFin MU-USDT