Funding you earn now, next payment 22:00 UTC−0.0292%/8h= −32.0% APRpaid last 24h −0.066%
Price spread now: Bitget against Phoenix−0.061%7-day average −0.004% · you buy dearer than you sell
Net, funding: paid 7d − costs−$59as in the Funding arb table
Net, price: spread back to 7d avg − costs−$43as in the Price arb table
costs, in and out, $10k−$370.370% of the position
Funding, last 7 days−0.221%−$22 on $10k
+Price spread, last 3 days (all we have)+0.114%+$11 · spread now −0.061%, 7d avg −0.004%
=Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Bitget is 0.057% cheaper against Phoenix than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.004%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix MU | 1,044.6 | 0.0383 | pay 0.0048% / 1h | 32m 51s | $534K | $306K | 15x |
| Short | Bitget MUUSDT | 1,044 | 0.0091 | get 0.0091% / 8h | 1h 32m | $20.4M | $43.0M | 50x |
Phoenix MU
Bitget MUUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget 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
- −$61.41
- Price spread: −0.061% → −0.004%
- −$5.7
- Slippage, 4 orders
- −$17.98
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$104.09
- Costs to cover
- 0.370%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 50 min ago; Bitget: live order book, 1 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, 50 min ago | 2.87 bp | 10.4 bp −$10 | 21.9 bp −$219 | doesn't fit | doesn't fit |
| Sell Bitget live order book, 1 min ago | 0.57 bp | 8.5 bp −$8 | 10.4 bp −$104 | 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 | −0.0897% | 4h | 1,044.1 | −0.047% | $1.3M | $673K | 10x | as long as short |
| Gate MU_USDT | 0.0000% | 8h | 1,043.8 | −0.075% | $62.9M | $29.0M | 75x | as long as short |
| StandX MU-USD | 0.0000% | 1h | 1,043.2 | −0.133% | $189K | $3.3M | 20x | as long as short |
| SunX MU-USDT | 0.0000% | 8h | 1,046.4 | +0.168% | $11K | $6.6M | 10x | as long as short |
| HTX MU-USDT | 0.0000% | 8h | 1,043.9 | −0.067% | $125K | $441K | 50x | as long as short |
| OKX MU-USDT-SWAP | +0.0020% | 8h | 1,043.9 | −0.063% | $30.9M | $104.8M | 50x | as long as short |
| Aftermath Perps MUUSD | +0.0030% | 1h | 1,043.7 | −0.086% | $3K | $45K | 10x | as long as short |
| Lighter RH MU | +0.0032% | 1h | 1,043.8 | −0.078% | $1.2M | $4.2M | 10x | as long as short |
| Injective MU/USDC PERP | +0.0033% | 1h | 1,050.7 | +0.585% | $14K | $302 | 12x | as long as short |
| Vest MU-USD-PERP | +0.0046% | 1h | 1,043.6 | −0.097% | — | $193K | 25x | as long as short |
edgeX MUUSDC
Gate MU_USDT
StandX MU-USD
SunX MU-USDT
HTX MU-USDT
OKX MU-USDT-SWAP
Aftermath Perps MUUSD
Lighter RH MU
Injective MU/USDC PERP
Vest MU-USD-PERPShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Polymarket Perps MU-USD | +0.0050% | 1h | 1,043.8 | −0.077% | $165K | $180K | 10x | as long as short |
| SoDEX MU-USD | +0.0050% | 1h | 1,043.9 | −0.063% | $685K | $16K | 10x | as long as short |
| Ondo Perps MU-USD.P | +0.0050% | 1h | 1,042.9 | −0.161% | $2.0M | $2.7M | 10x | as long as short |
| Aster MUUSD1 | +0.0061% | 8h | 1,044.5 | −0.013% | $21.5M | $47.4M | 20x | as long as short |
| QFEX MU-USD | +0.0071% | 1h | 1,044 | −0.056% | $7.8M | $24.2M | 10x | as long as short |
| Bitget MUUSDTshort | +0.0091% | 8h | 1,044 | −0.061% | $20.4M | $43.0M | 50x | |
| Pacifica MU | +0.0100% | 1h | 1,043.6 | −0.100% | $154K | $182K | 10x | as long as short |
| KuCoin MUUSDTM | +0.0100% | 8h | 1,043.1 | −0.143% | $5.2M | $3.9M | 20x | as long as short |
| ApeX Omni MUUSDT | +0.0100% | 1h | 1,044.7 | +0.010% | $71K | $266K | 50x | as long as short |
| Orderly PERP_MU_USDC_mythos | +0.0100% | 8h | 1,044.1 | −0.044% | $830 | $799 | 20x | as long as short |
| Aevo MU-PERP | +0.0120% | 1h | 1,044 | −0.057% | $33K | — | 10x | as long as short |
| Variational Omni MU | +0.0122% | 8h | 1,044.2 | −0.035% | $2.6M | $2.7M | — | as long as short |
| Paradex MU-USD-PERP | +0.0129% | 8h | 1,044 | −0.060% | $2K | — | 5x | as long as short |
| Binance MUUSDT | +0.0145% | 8h | 1,044.1 | −0.053% | $124.9M | $536.8M | 50x | as long as short |
| Coinbase International MU-PERP-INTX | +0.0184% | 1h | 1,043.9 | −0.070% | $756K | $1.4M | 10x | as long as short |
| Lighter MU | +0.0192% | 1h | 1,043.9 | −0.068% | $1.0M | $4.8M | 20x | as long as short |
| Nado MU-PERP | +0.0202% | 1h | 1,043.1 | −0.141% | $302K | $847K | 10x | as long as short |
| GRVT MU_USDT_Perp | +0.0205% | 8h | 1,044.4 | −0.020% | $82K | $1.4M | 10x | as long as short |
| Bybit MUUSDT | +0.0226% | 8h | 1,044.2 | −0.034% | $19.2M | $32.6M | 100x | as long as short |
| Bullet MU-USD | +0.0263% | 1h | 1,044.2 | −0.039% | $26K | $397K | 10x | as long as short |
| BloFin MU-USDT | +0.0265% | 8h | 1,044.1 | −0.044% | $1.5M | $2.0M | 20x | as long as short |
| tradeXYZ xyz:MU | +0.0340% | 1h | 1,043.8 | −0.077% | $176.4M | $107.0M | 10x | as long as short |
| Phoenix MUlong | +0.0383% | 1h | 1,044.6 | long leg | $534K | $306K | 15x | |
| Arcus MU-USD | +0.0435% | 1h | 1,043.6 | −0.094% | $63K | $230K | 10x | as long as short |
| RISEx MU/USDC | +0.0499% | 1h | 1,044.4 | −0.016% | $285K | $333K | 20x | as long as short |
| Extended MU_24_5-USD | +0.0640% | 1h | 1,043 | −0.156% | $541K | $1.1M | 10x | as long as short |
| Deribit MU_USDC-PERPETUAL | +0.0709% | 1h | 1,044.1 | −0.053% | $61K | $246K | 10x | as long as short |
Polymarket Perps MU-USD
SoDEX MU-USD
Ondo Perps MU-USD.P
Aster MUUSD1
QFEX MU-USD
Pacifica MU
KuCoin MUUSDTM
ApeX Omni MUUSDT
Orderly PERP_MU_USDC_mythos
Aevo MU-PERP
Variational Omni MU
Paradex MU-USD-PERP
Binance MUUSDT
Coinbase International MU-PERP-INTX
Lighter MU
Nado MU-PERP
GRVT MU_USDT_Perp
Bybit MUUSDT
Bullet MU-USD
BloFin MU-USDT
tradeXYZ xyz:MU
Arcus MU-USD
RISEx MU/USDC
Extended MU_24_5-USD
Deribit MU_USDC-PERPETUAL