Funding you earn now, next payment 10:00 UTC−0.0187%/8h= −20.5% APRnext payment −$0.23 per $10,000 · paid last 24h −0.049%
Price spread now: Nado against Phoenix−0.091%7-day average −0.033% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$43as in the Price arb table
costs, in and out, $10k−$370.371% of the position
Funding, last 4 days (all we have)−0.073%−$7 on $10k
+Price spread, last 4 days (all we have)+0.079%+$8 · spread now −0.091%, 7d avg −0.033%
=Together, before fees+0.006%+ Points / potential airdropNado: Active · farm board+$1 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Nado is 0.058% cheaper against Phoenix than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.033%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix MU | 1,040.4 | 0.0308 | pay 0.0038% / 1h | 51m 36s | $532K | $159K | 15x |
| Short | Nado MU-PERP | 1,039.4 | 0.0121 | get 0.0015% / 1h | 51m 36s | $277K | $841K | 10x |
Phoenix MU
Nado MU-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado 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
- −$39.24
- Price spread: −0.091% → −0.033%
- −$5.85
- Slippage, 4 orders
- −$23.05
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$82.14
- Costs to cover
- 0.371%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 59 min ago; Nado: live order book, 59 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, 59 min ago | 3.87 bp | 13.2 bp −$13 | 29.1 bp −$291 | doesn't fit | doesn't fit |
| Sell Nado live order book, 59 min ago | 0.05 bp | 4.5 bp −$5 | 20.6 bp −$206 | doesn't fit | doesn't fit |
MU on 37 exchanges
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 | −0.0510% | 4h | 1,040.2 | −0.014% | $1.3M | $695K | 10x | as long as short |
| Aster MUUSD1 | 0.0000% | 8h | 1,040.3 | −0.012% | $21.2M | $73.4M | 20x | as long as short |
| Binance MUUSDT | 0.0000% | 8h | 1,040.4 | +0.005% | $121.7M | $555.4M | 50x | as long as short |
| OKX MU-USDT-SWAP | 0.0000% | 8h | 1,040.6 | +0.018% | $29.7M | $107.9M | 50x | as long as short |
| Gate MU_USDT | 0.0000% | 8h | 1,039.9 | −0.044% | $61.2M | $27.9M | 75x | as long as short |
| Bitget MUUSDT | 0.0000% | 8h | 1,040.6 | +0.018% | $19.9M | $43.6M | 50x | as long as short |
| Variational Omni MU | 0.0000% | 8h | 1,039.5 | −0.090% | $2.6M | $2.6M | — | as long as short |
| StandX MU-USD | 0.0000% | 1h | 1,039.3 | −0.111% | $188K | $3.7M | 20x | as long as short |
| SunX MU-USDT | 0.0000% | 8h | 1,041.6 | +0.118% | $11K | $5.0M | 10x | as long as short |
| Deribit MU_USDC-PERPETUAL | 0.0000% | 1h | 1,039.7 | −0.069% | $36K | $718K | 10x | as long as short |
edgeX MUUSDC
Aster MUUSD1
Binance MUUSDT
OKX MU-USDT-SWAP
Gate MU_USDT
Bitget MUUSDT
Variational Omni MU
StandX MU-USD
SunX MU-USDT
Deribit MU_USDC-PERPETUALShow all 37 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX MU-USDT | 0.0000% | 8h | 1,040.2 | −0.016% | $119K | $474K | 50x | as long as short |
| Lighter RH MU | +0.0032% | 1h | 1,039.9 | −0.047% | $1.2M | $4.5M | 10x | as long as short |
| Injective MU/USDC PERP | +0.0033% | 1h | 1,051.4 | +1.053% | $19K | $5K | 12x | as long as short |
| Aftermath Perps MUUSD | +0.0034% | 1h | 1,039.6 | −0.080% | $3K | $41K | 10x | as long as short |
| Vest MU-USD-PERP | +0.0046% | 1h | 1,041.3 | +0.087% | — | $177K | 25x | as long as short |
| Polymarket Perps MU-USD | +0.0050% | 1h | 1,040.2 | −0.019% | $170K | $180K | 10x | as long as short |
| SoDEX MU-USD | +0.0050% | 1h | 1,040.2 | −0.019% | $684K | $14K | 10x | as long as short |
| Ondo Perps MU-USD.P | +0.0050% | 1h | 1,039.3 | −0.111% | $1.9M | $3.2M | 10x | as long as short |
| QFEX MU-USD | +0.0058% | 1h | 1,040.1 | −0.025% | $7.0M | $19.3M | 10x | as long as short |
| Bybit MUUSDT | +0.0076% | 8h | 1,040.7 | +0.024% | $18.8M | $32.3M | 100x | as long as short |
| Aevo MU-PERP | +0.0080% | 1h | 1,039.7 | −0.071% | $32K | $1K | 10x | as long as short |
| Paradex MU-USD-PERP | +0.0081% | 8h | 1,040.1 | −0.030% | $2K | — | 5x | as long as short |
| Pacifica MU | +0.0100% | 1h | 1,039.6 | −0.082% | $151K | $227K | 10x | as long as short |
| KuCoin MUUSDTM | +0.0100% | 8h | 1,039.4 | −0.099% | $5.2M | $6.0M | 20x | as long as short |
| ApeX Omni MUUSDT | +0.0100% | 1h | 1,040.8 | +0.039% | $71K | $270K | 50x | as long as short |
| Orderly PERP_MU_USDC_mythos | +0.0100% | 8h | 1,040 | −0.038% | $827 | $799 | 20x | as long as short |
| RISEx MU/USDC | +0.0118% | 1h | 1,040.3 | −0.005% | $300K | $351K | 20x | as long as short |
| BloFin MU-USDT | +0.0120% | 8h | 1,040.9 | +0.043% | $1.5M | $2.6M | 20x | as long as short |
| Nado MU-PERPshort | +0.0121% | 1h | 1,039.4 | −0.091% | $277K | $841K | 10x | |
| Arcus MU-USD | +0.0139% | 1h | 1,039.8 | −0.056% | $90K | $148K | 10x | as long as short |
| Coinbase International MU-PERP-INTX | +0.0192% | 1h | 1,039.7 | −0.071% | $728K | $1.2M | 10x | as long as short |
| Bullet MU-USD | +0.0207% | 1h | 1,040.3 | −0.011% | $24K | $386K | 10x | as long as short |
| Lighter MU | +0.0216% | 1h | 1,040.1 | −0.031% | $1.0M | $5.0M | 20x | as long as short |
| GRVT MU_USDT_Perp | +0.0224% | 8h | 1,040.8 | +0.039% | $81K | $1.4M | 10x | as long as short |
| tradeXYZ xyz:MU | +0.0243% | 1h | 1,040.4 | 0.000% | $177.4M | $75.6M | 10x | as long as short |
| Phoenix MUlong | +0.0308% | 1h | 1,040.4 | long leg | $532K | $159K | 15x | |
| Extended MU_24_5-USD | +0.0344% | 1h | 1,039.2 | −0.112% | $551K | $1.1M | 10x | as long as short |
HTX MU-USDT
Lighter RH MU
Injective MU/USDC PERP
Aftermath Perps MUUSD
Vest MU-USD-PERP
Polymarket Perps MU-USD
SoDEX MU-USD
Ondo Perps MU-USD.P
QFEX MU-USD
Bybit MUUSDT
Aevo MU-PERP
Paradex MU-USD-PERP
Pacifica MU
KuCoin MUUSDTM
ApeX Omni MUUSDT
Orderly PERP_MU_USDC_mythos
RISEx MU/USDC
BloFin MU-USDT
Arcus MU-USD
Coinbase International MU-PERP-INTX
Bullet MU-USD
Lighter MU
GRVT MU_USDT_Perp
tradeXYZ xyz:MU
Extended MU_24_5-USD