Funding you earn now, next payment 23:00 UTC−0.0409%/8h= −44.8% APRnext payment −$0.51 per $10,000 · paid last 24h −0.046%
Price spread now: Ondo Perps against Phoenix−0.146%48s7-day average −0.117% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.336%−$34 on $10k
+Price spread, last 3 days (all we have)+0.101%+$10 · spread now −0.146%, 7d avg −0.117%
=Together, before fees−0.235%+ Points / potential airdropOndo Perps: Active · farm board−$24 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Ondo Perps is 0.029% cheaper against Phoenix than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.117%). Swap the legs. The two prices were read 48 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 | 1,046.1 | 0.0460 | pay 0.0057% / 1h | 22m 16s | $535K | $306K | 15x |
| Short | Ondo Perps MU-USD.P | 1,044.6 | 0.0050 | get 0.0006% / 1h | 22m 16s | $2.0M | $2.7M | 10x |
Phoenix MU
Ondo Perps MU-USD.PFunding history
latest
Range statsloading…
Price spread between the two exchanges
Ondo Perps 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
- −$85.94
- Price spread: −0.146% → −0.117%
- −$2.93
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Net
- −$100.87
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 55 min ago; Ondo Perps: no order-book sample. Net counts fees only.
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, 55 min ago | 3.83 bp | 13.1 bp −$13 | 28.0 bp −$280 | doesn't fit | doesn't fit |
| Sell Ondo Perps no order-book sample | — | — | — | — | — |
Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0561% | 4h | 1,045.3 | −0.073% | $1.3M | $672K | 10x | as long as short |
| Gate MU_USDT | 0.0000% | 8h | 1,045.7 | −0.043% | $63.0M | $29.1M | 75x | as long as short |
| StandX MU-USD | 0.0000% | 1h | 1,045.2 | −0.084% | $189K | $3.3M | 20x | as long as short |
| SunX MU-USDT | 0.0000% | 8h | 1,047.4 | +0.122% | $12K | $6.5M | 10x | as long as short |
| HTX MU-USDT | 0.0000% | 8h | 1,045.5 | −0.054% | $129K | $455K | 50x | as long as short |
| Aftermath Perps MUUSD | +0.0030% | 1h | 1,045.2 | −0.087% | $3K | $45K | 10x | as long as short |
| Lighter RH MU | +0.0032% | 1h | 1,045.6 | −0.047% | $1.2M | $4.3M | 10x | as long as short |
| Injective MU/USDC PERP | +0.0033% | 1h | 1,050.7 | +0.441% | $14K | $302 | 12x | as long as short |
| Vest MU-USD-PERP | +0.0046% | 1h | 1,045.8 | −0.027% | — | $194K | 25x | as long as short |
| Polymarket Perps MU-USD | +0.0050% | 1h | 1,045.4 | −0.067% | $169K | $193K | 10x | as long as short |
edgeX MUUSDC
Gate MU_USDT
StandX MU-USD
SunX MU-USDT
HTX MU-USDT
Aftermath Perps MUUSD
Lighter RH MU
Injective MU/USDC PERP
Vest MU-USD-PERP
Polymarket Perps MU-USDShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SoDEX MU-USD | +0.0050% | 1h | 1,045.7 | −0.037% | $686K | $16K | 10x | as long as short |
| Ondo Perps MU-USD.Pshort | +0.0050% | 1h | 1,044.6 | −0.146% | $2.0M | $2.7M | 10x | |
| OKX MU-USDT-SWAP | +0.0074% | 8h | 1,045.9 | −0.017% | $30.8M | $105.0M | 50x | as long as short |
| Lighter MU | +0.0080% | 1h | 1,045.6 | −0.046% | $1.0M | $4.9M | 20x | as long as short |
| QFEX MU-USD | +0.0080% | 1h | 1,045.4 | −0.071% | $7.9M | $23.9M | 10x | as long as short |
| Pacifica MU | +0.0100% | 1h | 1,045.5 | −0.060% | $153K | $182K | 10x | as long as short |
| KuCoin MUUSDTM | +0.0100% | 8h | 1,045.3 | −0.074% | $5.2M | $3.9M | 20x | as long as short |
| ApeX Omni MUUSDT | +0.0100% | 1h | 1,045.9 | −0.021% | $71K | $266K | 50x | as long as short |
| Orderly PERP_MU_USDC_mythos | +0.0100% | 8h | 1,045.6 | −0.045% | $831 | $799 | 20x | as long as short |
| Paradex MU-USD-PERP | +0.0115% | 8h | 1,045.5 | −0.059% | $2K | — | 5x | as long as short |
| Bitget MUUSDT | +0.0118% | 8h | 1,045.6 | −0.053% | $20.5M | $43.5M | 50x | as long as short |
| Bullet MU-USD | +0.0118% | 1h | 1,045.9 | −0.017% | $25K | $394K | 10x | as long as short |
| Aevo MU-PERP | +0.0128% | 1h | 1,045.5 | −0.056% | $33K | — | 10x | as long as short |
| Aster MUUSD1 | +0.0161% | 8h | 1,045.9 | −0.022% | $21.5M | $47.3M | 20x | as long as short |
| Deribit MU_USDC-PERPETUAL | +0.0161% | 1h | 1,045.6 | −0.053% | $62K | $275K | 10x | as long as short |
| Nado MU-PERP | +0.0163% | 1h | 1,045.2 | −0.086% | $271K | $875K | 10x | as long as short |
| Variational Omni MU | +0.0183% | 8h | 1,045.3 | −0.079% | $2.7M | $2.5M | — | as long as short |
| Binance MUUSDT | +0.0189% | 8h | 1,045.8 | −0.028% | $124.4M | $532.7M | 50x | as long as short |
| tradeXYZ xyz:MU | +0.0203% | 1h | 1,045.5 | −0.057% | $176.7M | $104.5M | 10x | as long as short |
| Coinbase International MU-PERP-INTX | +0.0224% | 1h | 1,044.9 | −0.113% | $757K | $1.3M | 10x | as long as short |
| GRVT MU_USDT_Perp | +0.0226% | 8h | 1,045.3 | −0.080% | $82K | $1.4M | 10x | as long as short |
| Bybit MUUSDT | +0.0267% | 8h | 1,045.8 | −0.028% | $19.2M | $32.4M | 100x | as long as short |
| BloFin MU-USDT | +0.0310% | 8h | 1,045.5 | −0.061% | $1.5M | $2.0M | 20x | as long as short |
| Extended MU_24_5-USD | +0.0384% | 1h | 1,045 | −0.105% | $541K | $1.1M | 10x | as long as short |
| Phoenix MUlong | +0.0460% | 1h | 1,046.1 | long leg | $535K | $306K | 15x | |
| Arcus MU-USD | +0.0462% | 1h | 1,045.3 | −0.081% | $70K | $244K | 10x | as long as short |
| RISEx MU/USDC | +0.0525% | 1h | 1,045.9 | −0.021% | $316K | $339K | 20x | as long as short |
SoDEX MU-USD
OKX MU-USDT-SWAP
Lighter MU
QFEX MU-USD
Pacifica MU
KuCoin MUUSDTM
ApeX Omni MUUSDT
Orderly PERP_MU_USDC_mythos
Paradex MU-USD-PERP
Bitget MUUSDT
Bullet MU-USD
Aevo MU-PERP
Aster MUUSD1
Deribit MU_USDC-PERPETUAL
Nado MU-PERP
Variational Omni MU
Binance MUUSDT
tradeXYZ xyz:MU
Coinbase International MU-PERP-INTX
GRVT MU_USDT_Perp
Bybit MUUSDT
BloFin MU-USDT
Extended MU_24_5-USD
Arcus MU-USD
RISEx MU/USDC