Funding you earn now, next payment 05:00 UTC−0.0131%/8h= −14.3% APRpaid last 24h −0.061%
Price spread now: Orderly against Phoenix−0.042%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Orderly is 0.042% cheaper against Phoenix than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix MU | 1,040.7 | 0.0231 | pay 0.0029% / 1h | 57m 11s | $532K | $270K | 15x |
| Short | Orderly PERP_MU_USDC_mythos | 1,040.3 | 0.0100 | get 0.0100% / 8h | 1h 57m | $827 | $799 | 20x |
Phoenix MU
Orderly PERP_MU_USDC_mythosFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- −$27.45
- Price spread: −0.042% → 0.000%
- −$4.23
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$44.68
- Costs to cover
- 0.130%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 50 min ago; Orderly: 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, 50 min ago | 3.84 bp | 12.2 bp −$12 | 26.7 bp −$267 | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 | −0.0729% | 4h | 1,040.3 | −0.041% | $1.3M | $671K | 10x | as long as short |
| Bitget MUUSDT | −0.0066% | 8h | 1,039.8 | −0.084% | $20.3M | $41.3M | 50x | as long as short |
| Nado MU-PERP | −0.0030% | 1h | 1,040.5 | −0.019% | $278K | $816K | 10x | as long as short |
| Aster MUUSD1 | 0.0000% | 8h | 1,040.2 | −0.051% | $21.2M | $57.3M | 20x | as long as short |
| Binance MUUSDT | 0.0000% | 8h | 1,039.5 | −0.111% | $121.9M | $536.5M | 50x | as long as short |
| Bybit MUUSDT | 0.0000% | 8h | 1,039.7 | −0.093% | $18.6M | $32.2M | 100x | as long as short |
| OKX MU-USDT-SWAP | 0.0000% | 8h | 1,039.5 | −0.120% | $30.0M | $101.5M | 50x | as long as short |
| RISEx MU/USDC | 0.0000% | 1h | 1,040.2 | −0.051% | $316K | $384K | 20x | as long as short |
| Gate MU_USDT | 0.0000% | 8h | 1,040.1 | −0.056% | $61.5M | $28.2M | 75x | as long as short |
| Variational Omni MU | 0.0000% | 8h | 1,040.8 | +0.005% | $2.5M | $2.6M | — | as long as short |
edgeX MUUSDC
Bitget MUUSDT
Nado MU-PERP
Aster MUUSD1
Binance MUUSDT
Bybit MUUSDT
OKX MU-USDT-SWAP
RISEx MU/USDC
Gate MU_USDT
Variational Omni MUShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT MU_USDT_Perp | 0.0000% | 8h | 1,041 | +0.027% | $84K | $1.4M | 10x | as long as short |
| StandX MU-USD | 0.0000% | 1h | 1,041.3 | +0.061% | $188K | $3.5M | 20x | as long as short |
| Bullet MU-USD | 0.0000% | 1h | 1,040.3 | −0.038% | $26K | $390K | 10x | as long as short |
| SunX MU-USDT | 0.0000% | 8h | 1,041.3 | +0.061% | $11K | $5.6M | 10x | as long as short |
| Deribit MU_USDC-PERPETUAL | 0.0000% | 1h | 1,039.9 | −0.078% | $74K | $539K | 10x | as long as short |
| HTX MU-USDT | 0.0000% | 8h | 1,040.1 | −0.060% | $128K | $442K | 50x | as long as short |
| Aftermath Perps MUUSD | +0.0017% | 1h | 1,040.2 | −0.045% | $3K | $44K | 10x | as long as short |
| Lighter RH MU | +0.0032% | 1h | 1,039.7 | −0.093% | $1.2M | $4.4M | 10x | as long as short |
| Extended MU_24_5-USD | +0.0032% | 1h | 1,039.5 | −0.111% | $544K | $1.1M | 10x | as long as short |
| QFEX MU-USD | +0.0032% | 1h | 1,039.9 | −0.075% | $7.0M | $18.3M | 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 | 1,040 | −0.067% | $70K | $231K | 10x | as long as short |
| Vest MU-USD-PERP | +0.0046% | 1h | 1,040.6 | −0.006% | — | $175K | 25x | as long as short |
| tradeXYZ xyz:MU | +0.0050% | 1h | 1,039.9 | −0.077% | $176.8M | $90.9M | 10x | as long as short |
| Polymarket Perps MU-USD | +0.0050% | 1h | 1,040 | −0.067% | $169K | $203K | 10x | as long as short |
| SoDEX MU-USD | +0.0050% | 1h | 1,039.9 | −0.074% | $682K | $15K | 10x | as long as short |
| Ondo Perps MU-USD.P | +0.0050% | 1h | 1,039.5 | −0.120% | $1.9M | $2.5M | 10x | as long as short |
| Paradex MU-USD-PERP | +0.0053% | 8h | 1,040.6 | −0.005% | $2K | — | 5x | as long as short |
| Lighter MU | +0.0056% | 1h | 1,039.9 | −0.077% | $1.1M | $4.9M | 20x | as long as short |
| Aevo MU-PERP | +0.0080% | 1h | 1,039.6 | −0.103% | $32K | $1K | 10x | as long as short |
| Pacifica MU | +0.0100% | 1h | 1,040.2 | −0.043% | $148K | $190K | 10x | as long as short |
| KuCoin MUUSDTM | +0.0100% | 8h | 1,039.7 | −0.099% | $5.2M | $3.9M | 20x | as long as short |
| ApeX Omni MUUSDT | +0.0100% | 1h | 1,040.6 | −0.012% | $71K | $269K | 50x | as long as short |
| Orderly PERP_MU_USDC_mythosshort | +0.0100% | 8h | 1,040.3 | −0.042% | $827 | $799 | 20x | |
| Coinbase International MU-PERP-INTX | +0.0104% | 1h | 1,036 | −0.455% | $731K | $1.3M | 10x | as long as short |
| BloFin MU-USDT | +0.0120% | 8h | 1,039.6 | −0.102% | $1.4M | $2.1M | 20x | as long as short |
| Phoenix MUlong | +0.0231% | 1h | 1,040.7 | long leg | $532K | $270K | 15x |
GRVT MU_USDT_Perp
StandX MU-USD
Bullet MU-USD
SunX MU-USDT
Deribit MU_USDC-PERPETUAL
HTX MU-USDT
Aftermath Perps MUUSD
Lighter RH MU
Extended MU_24_5-USD
QFEX MU-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
Lighter MU
Aevo MU-PERP
Pacifica MU
KuCoin MUUSDTM
ApeX Omni MUUSDT
Coinbase International MU-PERP-INTX
BloFin MU-USDT