Funding you earn now, next payment 04:00 UTC−0.0305%/8h= −33.4% APRpaid last 24h −0.091%
Price spread now: HTX against Phoenix−0.034%72s7-day average −0.013% · you buy dearer than you sell
Net, funding: paid 7d − costs−$82as 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−$410.412% of the position
Funding, last 7 days−0.413%−$41 on $10k
+Price spread, last 4 days (all we have)+0.093%+$9 · spread now −0.034%, 7d avg −0.013%
=Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and HTX is 0.022% cheaper against Phoenix than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.013%). Swap the legs. The two prices were read 72 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 | 1,048.5 | 0.0305 | pay 0.0038% / 1h | 45m 52s | $536K | $271K | 15x |
| Short | HTX MU-USDT | 1,048.1 | 0 | get 0.0000% / 8h | 3h 45m | $130K | $431K | 50x |
Phoenix MU
HTX MU-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
HTX 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: −0.034% → −0.013%
- −$2.17
- Slippage, 4 orders
- −$22.19
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee HTX: 6 bp × 2 orders
- −$12
- Net
- −$107.36
- Costs to cover
- 0.412%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 7 min ago; HTX: live order book, 8 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, 7 min ago | 2.86 bp | 10.7 bp −$11 | 22.4 bp −$224 | doesn't fit | doesn't fit |
| Sell HTX live order book, 8 min ago | 2.81 bp | 9.2 bp −$9 | 9.2 bp −$92 | 14.0 bp −$1,402 | 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 | −0.0642% | 4h | 1,048 | −0.044% | $1.3M | $672K | 10x | as long as short |
| Aster MUUSD1 | 0.0000% | 8h | 1,049 | +0.045% | $21.3M | $55.8M | 20x | as long as short |
| Bybit MUUSDT | 0.0000% | 8h | 1,048.4 | −0.007% | $19.0M | $32.0M | 100x | as long as short |
| OKX MU-USDT-SWAP | 0.0000% | 8h | 1,048.2 | −0.028% | $31.2M | $99.6M | 50x | as long as short |
| RISEx MU/USDC | 0.0000% | 1h | 1,048.9 | +0.035% | $339K | $354K | 20x | as long as short |
| Gate MU_USDT | 0.0000% | 8h | 1,048.2 | −0.028% | $62.3M | $27.6M | 75x | as long as short |
| Bitget MUUSDT | 0.0000% | 8h | 1,048.5 | −0.001% | $20.5M | $41.3M | 50x | as long as short |
| Variational Omni MU | 0.0000% | 8h | 1,048.6 | +0.007% | $2.7M | $2.4M | — | as long as short |
| GRVT MU_USDT_Perp | 0.0000% | 8h | 1,048 | −0.050% | $82K | $1.4M | 10x | as long as short |
| StandX MU-USD | 0.0000% | 1h | 1,048.4 | −0.010% | $190K | $3.4M | 20x | as long as short |
edgeX MUUSDC
Aster MUUSD1
Bybit MUUSDT
OKX MU-USDT-SWAP
RISEx MU/USDC
Gate MU_USDT
Bitget MUUSDT
Variational Omni MU
GRVT MU_USDT_Perp
StandX MU-USDShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX MU-USDT | 0.0000% | 8h | 1,049.5 | +0.091% | $11K | $5.8M | 10x | as long as short |
| HTX MU-USDTshort | 0.0000% | 8h | 1,048.1 | −0.034% | $130K | $431K | 50x | |
| Binance MUUSDT | +0.0002% | 8h | 1,048.4 | −0.008% | $125.6M | $517.6M | 50x | as long as short |
| BloFin MU-USDT | +0.0014% | 8h | 1,048.4 | −0.008% | $1.5M | $2.0M | 20x | as long as short |
| Aftermath Perps MUUSD | +0.0024% | 1h | 1,048.5 | −0.001% | $3K | $44K | 10x | as long as short |
| Deribit MU_USDC-PERPETUAL | +0.0027% | 1h | 1,048.3 | −0.021% | $73K | $463K | 10x | as long as short |
| QFEX MU-USD | +0.0032% | 1h | 1,048.4 | −0.010% | $7.1M | $17.8M | 10x | as long as short |
| Lighter MU | +0.0032% | 1h | 1,048.5 | 0.000% | $1.1M | $5.1M | 20x | as long as short |
| Lighter RH MU | +0.0032% | 1h | 1,048.5 | −0.001% | $1.3M | $4.4M | 10x | as long as short |
| Extended MU_24_5-USD | +0.0032% | 1h | 1,047.9 | −0.055% | $553K | $1.1M | 10x | as long as short |
| Injective MU/USDC PERP | +0.0033% | 1h | 1,051.4 | +0.273% | $19K | $5K | 12x | as long as short |
| Arcus MU-USD | +0.0040% | 1h | 1,048.4 | −0.008% | $71K | $233K | 10x | as long as short |
| Vest MU-USD-PERP | +0.0046% | 1h | 1,049.5 | +0.098% | — | $176K | 25x | as long as short |
| tradeXYZ xyz:MU | +0.0050% | 1h | 1,048.1 | −0.038% | $177.8M | $97.4M | 10x | as long as short |
| Polymarket Perps MU-USD | +0.0050% | 1h | 1,048.4 | −0.010% | $170K | $202K | 10x | as long as short |
| SoDEX MU-USD | +0.0050% | 1h | 1,048.5 | −0.005% | $688K | $16K | 10x | as long as short |
| Ondo Perps MU-USD.P | +0.0050% | 1h | 1,047.7 | −0.079% | $1.9M | $2.2M | 10x | as long as short |
| Paradex MU-USD-PERP | +0.0051% | 8h | 1,048.7 | +0.017% | $2K | — | 5x | as long as short |
| Nado MU-PERP | +0.0056% | 1h | 1,048.1 | −0.042% | $282K | $830K | 10x | as long as short |
| Bullet MU-USD | +0.0065% | 1h | 1,048.8 | +0.029% | $26K | $394K | 10x | as long as short |
| Aevo MU-PERP | +0.0080% | 1h | 1,048.2 | −0.024% | $32K | $1K | 10x | as long as short |
| Pacifica MU | +0.0100% | 1h | 1,048.5 | −0.003% | $148K | $185K | 10x | as long as short |
| KuCoin MUUSDTM | +0.0100% | 8h | 1,048.3 | −0.016% | $5.3M | $3.4M | 20x | as long as short |
| ApeX Omni MUUSDT | +0.0100% | 1h | 1,047 | −0.139% | $71K | $269K | 50x | as long as short |
| Orderly PERP_MU_USDC_mythos | +0.0100% | 8h | 1,048.6 | +0.011% | $834 | $799 | 20x | as long as short |
| Coinbase International MU-PERP-INTX | +0.0120% | 1h | 1,050 | +0.146% | $757K | $1.2M | 10x | as long as short |
| Phoenix MUlong | +0.0305% | 1h | 1,048.5 | long leg | $536K | $271K | 15x |
SunX MU-USDT
Binance MUUSDT
BloFin MU-USDT
Aftermath Perps MUUSD
Deribit MU_USDC-PERPETUAL
QFEX MU-USD
Lighter MU
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
Nado MU-PERP
Bullet MU-USD
Aevo MU-PERP
Pacifica MU
KuCoin MUUSDTM
ApeX Omni MUUSDT
Orderly PERP_MU_USDC_mythos
Coinbase International MU-PERP-INTX