MU

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0254%/8h= −27.9% APRnext payment −$0.32 per $10,000 · paid last 24h −0.073%

Price spread now: Polymarket Perps against Phoenix+0.010%7-day average −0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$390.387% of the position

Long on Phoenix Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.316%−$32 on $10k

Price spread, last 4 days (all we have)−0.129%−$13 · spread now +0.010%, 7d avg −0.054%

Together, before fees−0.445%−$44 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.064% dearer against Phoenix than usual: you sell high and buy low (spread +0.010% now, against its 7-day average of −0.054%): +$6 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 20 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix MU	1,049.7	0.0304	pay 0.0038% / 1h	4m 45s	$537K	$273K	15x
Short	Polymarket Perps MU-USD	1,049.8	0.0050	get 0.0006% / 1h	4m 45s	$170K	$202K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket 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 it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PhoenixbpFee Polymarket PerpsbpOrdersPrice spread, now +0.010%Rate

Funding earned: −$53.41
Price spread: +0.010% → −0.054%: $6.4
Slippage, 4 orders: −$23.74
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$85.76
Costs to cover: 0.387%
Break-even: never at this rate

Slippage from Phoenix: live order book, 63 min ago; Polymarket Perps: live order book, 62 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, 63 min ago	3.80 bp	12.1 bp −$12	26.3 bp −$263	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 62 min ago	2.86 bp	7.6 bp −$8	8.1 bp −$81	10.1 bp −$1,006	doesn't fit

MU on 36 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	−0.0984%	4h	1,049.3	−0.035%	$1.3M	$671K	10x	as long as short
Bybit MUUSDT	0.0000%	8h	1,050.3	+0.053%	$19.2M	$32.6M	100x	as long as short
Gate MU_USDT	0.0000%	8h	1,049.9	+0.016%	$62.0M	$27.8M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,049.1	−0.053%	$190K	$3.4M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,050	+0.029%	$25K	$394K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,051.5	+0.167%	$11K	$6.0M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,049.8	+0.011%	$129K	$426K	50x	as long as short
Nado MU-PERP	+0.0004%	1h	1,049.5	−0.016%	$278K	$854K	10x	as long as short
GRVT MU_USDT_Perp	+0.0013%	8h	1,048.9	−0.078%	$80K	$1.3M	10x	as long as short
Aftermath Perps MUUSD	+0.0017%	1h	1,049.1	−0.058%	$3K	$45K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MU	+0.0032%	1h	1,049.9	+0.017%	$1.2M	$4.9M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,049.8	+0.010%	$1.2M	$4.2M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,049.3	−0.041%	$564K	$1.1M	10x	as long as short
QFEX MU-USD	+0.0040%	1h	1,049.9	+0.016%	$7.3M	$19.0M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,049.3	−0.037%	$71K	$236K	10x	as long as short
OKX MU-USDT-SWAP	+0.0040%	8h	1,050	+0.027%	$30.8M	$100.3M	50x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0045%	1h	1,049.7	−0.002%	$66K	$347K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,050.7	+0.097%	—	$175K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,049.9	+0.019%	$178.2M	$99.4M	10x	as long as short
Polymarket Perps MU-USDshort	+0.0050%	1h	1,049.8	+0.010%	$170K	$202K	10x
SoDEX MU-USD	+0.0050%	1h	1,049.8	+0.010%	$689K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,049.4	−0.031%	$1.9M	$2.2M	10x	as long as short
Paradex MU-USD-PERP	+0.0059%	8h	1,050.1	+0.042%	$2K	—	5x	as long as short
Pacifica MU	+0.0100%	1h	1,049.7	+0.001%	$148K	$187K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,049.7	−0.004%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,050	+0.029%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,049.9	+0.023%	$835	$799	20x	as long as short
Injective MU/USDC PERP	+0.0107%	1h	1,051.4	+0.158%	$19K	$5K	12x	as long as short
Aster MUUSD1	+0.0126%	8h	1,049.8	+0.011%	$21.6M	$51.7M	20x	as long as short
Aevo MU-PERP	+0.0128%	1h	1,049.6	−0.007%	$32K	$1K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0128%	1h	1,048.1	−0.157%	$755K	$1.2M	10x	as long as short
Variational Omni MU	+0.0154%	8h	1,049.9	+0.022%	$2.7M	$2.4M	—	as long as short
Binance MUUSDT	+0.0174%	8h	1,050.1	+0.036%	$126.5M	$522.1M	50x	as long as short
Bitget MUUSDT	+0.0183%	8h	1,050	+0.029%	$20.6M	$41.3M	50x	as long as short
Phoenix MUlong	+0.0304%	1h	1,049.7	long leg	$537K	$273K	15x
RISEx MU/USDC	+0.0507%	1h	1,050.2	+0.051%	$334K	$349K	20x	as long as short