Funding you earn now, next payment 05:00 UTC−0.0131%/8h= −14.3% APRnext payment −$0.16 per $10,000 · paid last 24h −0.061%
Price spread now: ApeX Omni against Phoenix−0.178%7-day average −0.010% · you buy dearer than you sell
Net, funding: paid 7d − costs−$87as in the Funding arb table
Net, price: spread back to 7d avg − costs−$81as in the Price arb table
costs, in and out, $10k−$640.638% of the position
Funding, last 7 days−0.228%−$23 on $10k
+Price spread, last 4 days (all we have)+0.225%+$22 · spread now −0.178%, 7d avg −0.010%
=Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and ApeX Omni is 0.169% cheaper against Phoenix than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of −0.010%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix MU | 1,037.1 | 0.0231 | pay 0.0029% / 1h | 28m 57s | $530K | $270K | 15x |
| Short | ApeX Omni MUUSDT | 1,035.3 | 0.0100 | get 0.0013% / 1h | 28m 57s | $70K | $269K | 50x |
Phoenix MU
ApeX Omni MUUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
ApeX Omni against Phoenix. 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
- −$27.45
- Price spread: −0.178% → −0.010%
- −$16.85
- Slippage, 4 orders
- −$46.79
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Net
- −$108.09
- Costs to cover
- 0.638%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 19 min ago; ApeX Omni: live order book, 18 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 Phoenix live order book, 19 min ago | 3.84 bp | 12.2 bp −$12 | 26.7 bp −$267 | doesn't fit | doesn't fit |
| Sell ApeX Omni live order book, 18 min ago | 7.68 bp | 19.7 bp −$20 | 184.9 bp −$1,849 | 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 | −0.0955% | 4h | 1,035.8 | −0.127% | $1.3M | $673K | 10x | as long as short |
| Bitget MUUSDT | −0.0001% | 8h | 1,036.7 | −0.042% | $20.4M | $41.0M | 50x | as long as short |
| Aster MUUSD1 | 0.0000% | 8h | 1,036.5 | −0.058% | $21.1M | $57.2M | 20x | as long as short |
| Binance MUUSDT | 0.0000% | 8h | 1,035.8 | −0.126% | $121.7M | $530.8M | 50x | as long as short |
| Bybit MUUSDT | 0.0000% | 8h | 1,036.1 | −0.099% | $18.5M | $32.0M | 100x | as long as short |
| OKX MU-USDT-SWAP | 0.0000% | 8h | 1,035.7 | −0.136% | $29.9M | $100.2M | 50x | as long as short |
| RISEx MU/USDC | 0.0000% | 1h | 1,036.6 | −0.052% | $334K | $370K | 20x | as long as short |
| Gate MU_USDT | 0.0000% | 8h | 1,036.6 | −0.050% | $61.5M | $28.3M | 75x | as long as short |
| Variational Omni MU | 0.0000% | 8h | 1,036 | −0.105% | $2.6M | $2.4M | — | as long as short |
| GRVT MU_USDT_Perp | 0.0000% | 8h | 1,036.4 | −0.063% | $75K | $1.4M | 10x | as long as short |
edgeX MUUSDC
Bitget MUUSDT
Aster MUUSD1
Binance MUUSDT
Bybit MUUSDT
OKX MU-USDT-SWAP
RISEx MU/USDC
Gate MU_USDT
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 | 1,037.4 | +0.027% | $188K | $3.5M | 20x | as long as short |
| SunX MU-USDT | 0.0000% | 8h | 1,037.8 | +0.065% | $11K | $5.7M | 10x | as long as short |
| HTX MU-USDT | 0.0000% | 8h | 1,036.7 | −0.035% | $127K | $448K | 50x | as long as short |
| Aftermath Perps MUUSD | +0.0019% | 1h | 1,036.7 | −0.039% | $3K | $44K | 10x | as long as short |
| QFEX MU-USD | +0.0023% | 1h | 1,036 | −0.104% | $7.0M | $18.0M | 10x | as long as short |
| Nado MU-PERP | +0.0025% | 1h | 1,036.5 | −0.060% | $276K | $819K | 10x | as long as short |
| Bullet MU-USD | +0.0030% | 1h | 1,037 | −0.010% | $25K | $390K | 10x | as long as short |
| Lighter RH MU | +0.0032% | 1h | 1,036.6 | −0.050% | $1.2M | $4.5M | 10x | as long as short |
| Extended MU_24_5-USD | +0.0032% | 1h | 1,036.6 | −0.046% | $538K | $1.1M | 10x | as long as short |
| Injective MU/USDC PERP | +0.0033% | 1h | 1,051.4 | +1.375% | $19K | $5K | 12x | as long as short |
| Arcus MU-USD | +0.0040% | 1h | 1,036.5 | −0.061% | $70K | $231K | 10x | as long as short |
| Vest MU-USD-PERP | +0.0046% | 1h | 1,036.3 | −0.074% | — | $174K | 25x | as long as short |
| tradeXYZ xyz:MU | +0.0050% | 1h | 1,036.1 | −0.096% | $176.0M | $92.7M | 10x | as long as short |
| Polymarket Perps MU-USD | +0.0050% | 1h | 1,036 | −0.106% | $168K | $203K | 10x | as long as short |
| SoDEX MU-USD | +0.0050% | 1h | 1,036.8 | −0.027% | $680K | $15K | 10x | as long as short |
| Ondo Perps MU-USD.P | +0.0050% | 1h | 1,036.2 | −0.089% | $1.9M | $2.4M | 10x | as long as short |
| Paradex MU-USD-PERP | +0.0052% | 8h | 1,036.4 | −0.065% | $2K | — | 5x | as long as short |
| Aevo MU-PERP | +0.0080% | 1h | 1,036.7 | −0.035% | $32K | $1K | 10x | as long as short |
| Pacifica MU | +0.0100% | 1h | 1,036.3 | −0.073% | $147K | $189K | 10x | as long as short |
| KuCoin MUUSDTM | +0.0100% | 8h | 1,036.5 | −0.059% | $5.2M | $3.6M | 20x | as long as short |
| ApeX Omni MUUSDTshort | +0.0100% | 1h | 1,035.3 | −0.178% | $70K | $269K | 50x | |
| Orderly PERP_MU_USDC_mythos | +0.0100% | 8h | 1,036.8 | −0.032% | $824 | $799 | 20x | as long as short |
| Lighter MU | +0.0104% | 1h | 1,036.8 | −0.030% | $1.0M | $4.9M | 20x | as long as short |
| BloFin MU-USDT | +0.0120% | 8h | 1,036.8 | −0.033% | $1.5M | $2.0M | 20x | as long as short |
| Coinbase International MU-PERP-INTX | +0.0144% | 1h | 1,035.9 | −0.120% | $731K | $1.2M | 10x | as long as short |
| Deribit MU_USDC-PERPETUAL | +0.0145% | 1h | 1,037.1 | −0.004% | $73K | $513K | 10x | as long as short |
| Phoenix MUlong | +0.0231% | 1h | 1,037.1 | long leg | $530K | $270K | 15x |
StandX MU-USD
SunX MU-USDT
HTX MU-USDT
Aftermath Perps MUUSD
QFEX MU-USD
Nado MU-PERP
Bullet MU-USD
Lighter RH MU
Extended MU_24_5-USD
Injective MU/USDC PERP
Arcus MU-USD
Vest MU-USD-PERP
tradeXYZ xyz:MU
Polymarket Perps MU-USD
SoDEX MU-USD
Ondo Perps MU-USD.P
Paradex MU-USD-PERP
Aevo MU-PERP
Pacifica MU
KuCoin MUUSDTM
Orderly PERP_MU_USDC_mythos
Lighter MU
BloFin MU-USDT
Coinbase International MU-PERP-INTX
Deribit MU_USDC-PERPETUAL