Funding you earn now, next payment 04:00 UTC−0.0305%/8h= −33.4% APRpaid last 24h −0.074%
Price spread now: Aster against Phoenix+0.223%55s7-day average −0.004% · you sell dearer than you buy
Net, funding: paid 7d − costs−$76as 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−$390.386% of the position
Funding, last 7 days−0.377%−$38 on $10k
+Price spread, last 4 days (all we have)−0.147%−$15 · spread now +0.223%, 7d avg −0.004%
=Together, before fees−0.523%+ Points / potential airdropAster: Stage 5 · farm board−$52 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Aster is 0.227% dearer against Phoenix than usual: you sell high and buy low (spread +0.223% now, against its 7-day average of −0.004%): +$23 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 2.5 days. The two prices were read 55 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 | Phoenix MU | 1,040.7 | 0.0305 | pay 0.0038% / 1h | 56m 34s | $532K | $270K | 15x |
| Short | Aster MUUSD1 | 1,043 | 0 | get 0.0000% / 8h | 2h 56m | $21.2M | $57.2M | 20x |
Phoenix MU
Aster MUUSD1Funding history
latest
Range statsloading…
Price spread between the two exchanges
Aster 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
- −$64
- Price spread: +0.223% → −0.004%
- $22.69
- Slippage, 4 orders
- −$23.56
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Aster: 4 bp × 2 orders
- −$8
- Net
- −$79.88
- Costs to cover
- 0.386%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 56 min ago; Aster: live order book, 3 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, 56 min ago | 2.86 bp | 10.7 bp −$11 | 22.4 bp −$224 | doesn't fit | doesn't fit |
| Sell Aster live order book, 3 min ago | 1.68 bp | 7.8 bp −$8 | 19.6 bp −$196 | 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 | −0.0910% | 4h | 1,040.2 | −0.048% | $1.3M | $673K | 10x | as long as short |
| Aster MUUSD1short | 0.0000% | 8h | 1,043 | +0.223% | $21.2M | $57.2M | 20x | |
| Binance MUUSDT | 0.0000% | 8h | 1,042.9 | +0.213% | $123.1M | $526.5M | 50x | as long as short |
| Bybit MUUSDT | 0.0000% | 8h | 1,042.9 | +0.211% | $18.5M | $32.0M | 100x | as long as short |
| OKX MU-USDT-SWAP | 0.0000% | 8h | 1,042.9 | +0.207% | $30.5M | $100.0M | 50x | as long as short |
| RISEx MU/USDC | 0.0000% | 1h | 1,042.7 | +0.188% | $336K | $354K | 20x | as long as short |
| Gate MU_USDT | 0.0000% | 8h | 1,042.4 | +0.161% | $61.9M | $27.8M | 75x | as long as short |
| Bitget MUUSDT | 0.0000% | 8h | 1,043 | +0.222% | $20.5M | $41.7M | 50x | as long as short |
| Variational Omni MU | 0.0000% | 8h | 1,039.9 | −0.080% | $2.7M | $2.4M | — | as long as short |
| GRVT MU_USDT_Perp | 0.0000% | 8h | 1,040.5 | −0.022% | $83K | $1.4M | 10x | as long as short |
edgeX MUUSDC
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 | 1,041.5 | +0.074% | $188K | $3.5M | 20x | as long as short |
| SunX MU-USDT | 0.0000% | 8h | 1,043.2 | +0.236% | $11K | $5.8M | 10x | as long as short |
| HTX MU-USDT | 0.0000% | 8h | 1,041.9 | +0.115% | $128K | $439K | 50x | as long as short |
| Aftermath Perps MUUSD | +0.0021% | 1h | 1,040.9 | +0.018% | $3K | $44K | 10x | as long as short |
| QFEX MU-USD | +0.0023% | 1h | 1,042.3 | +0.158% | $7.0M | $18.1M | 10x | as long as short |
| Lighter RH MU | +0.0032% | 1h | 1,042.4 | +0.162% | $1.2M | $4.4M | 10x | as long as short |
| Extended MU_24_5-USD | +0.0032% | 1h | 1,042 | +0.125% | $546K | $1.1M | 10x | as long as short |
| Injective MU/USDC PERP | +0.0033% | 1h | 1,051.4 | +1.024% | $19K | $5K | 12x | as long as short |
| Arcus MU-USD | +0.0040% | 1h | 1,041 | +0.033% | $70K | $232K | 10x | as long as short |
| Vest MU-USD-PERP | +0.0046% | 1h | 1,042.7 | +0.192% | — | $176K | 25x | as long as short |
| Nado MU-PERP | +0.0047% | 1h | 1,042.3 | +0.151% | $281K | $821K | 10x | as long as short |
| Deribit MU_USDC-PERPETUAL | +0.0048% | 1h | 1,041.5 | +0.080% | $73K | $496K | 10x | as long as short |
| Polymarket Perps MU-USD | +0.0050% | 1h | 1,042.5 | +0.173% | $169K | $203K | 10x | as long as short |
| Ondo Perps MU-USD.P | +0.0050% | 1h | 1,041.9 | +0.114% | $1.9M | $2.3M | 10x | as long as short |
| Paradex MU-USD-PERP | +0.0051% | 8h | 1,042.6 | +0.185% | $2K | — | 5x | as long as short |
| tradeXYZ xyz:MU | +0.0056% | 1h | 1,042.1 | +0.135% | $177.1M | $95.1M | 10x | as long as short |
| SoDEX MU-USD | +0.0063% | 1h | 1,041.2 | +0.051% | $683K | $16K | 10x | as long as short |
| Aevo MU-PERP | +0.0080% | 1h | 1,041.4 | +0.071% | $32K | $1K | 10x | as long as short |
| Bullet MU-USD | +0.0092% | 1h | 1,041.9 | +0.120% | $26K | $392K | 10x | as long as short |
| Pacifica MU | +0.0100% | 1h | 1,042.2 | +0.141% | $147K | $186K | 10x | as long as short |
| KuCoin MUUSDTM | +0.0100% | 8h | 1,042 | +0.125% | $5.2M | $3.4M | 20x | as long as short |
| ApeX Omni MUUSDT | +0.0100% | 1h | 1,040.5 | −0.022% | $71K | $269K | 50x | as long as short |
| Orderly PERP_MU_USDC_mythos | +0.0100% | 8h | 1,041.8 | +0.110% | $828 | $799 | 20x | as long as short |
| BloFin MU-USDT | +0.0120% | 8h | 1,042.1 | +0.135% | $1.5M | $2.0M | 20x | as long as short |
| Lighter MU | +0.0144% | 1h | 1,042.6 | +0.183% | $1.1M | $4.8M | 20x | as long as short |
| Coinbase International MU-PERP-INTX | +0.0144% | 1h | 1,041.2 | +0.047% | $746K | $1.1M | 10x | as long as short |
| Phoenix MUlong | +0.0305% | 1h | 1,040.7 | long leg | $532K | $270K | 15x |
StandX MU-USD
SunX MU-USDT
HTX MU-USDT
Aftermath Perps MUUSD
QFEX MU-USD
Lighter RH MU
Extended MU_24_5-USD
Injective MU/USDC PERP
Arcus MU-USD
Vest MU-USD-PERP
Nado MU-PERP
Deribit MU_USDC-PERPETUAL
Polymarket Perps MU-USD
Ondo Perps MU-USD.P
Paradex MU-USD-PERP
tradeXYZ xyz:MU
SoDEX MU-USD
Aevo MU-PERP
Bullet MU-USD
Pacifica MU
KuCoin MUUSDTM
ApeX Omni MUUSDT
Orderly PERP_MU_USDC_mythos
BloFin MU-USDT
Lighter MU
Coinbase International MU-PERP-INTX