Funding you earn now, next payment 06:00 UTC+0.0231%/8h= +25.3% APRnext payment +$0.29 per $10,000 · paid last 24h +0.027%
Price spread now: Phoenix against RISEx−0.035%50s7-day average +0.001% · 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—prices read too far apart to compare
costs, in and out, $10k−$340.335% of the position
Funding, last 4 days (all we have)+0.046%+$5 on $10k
+Price spread, last 4 days (all we have)−0.018%−$2 · spread now −0.035%, 7d avg +0.001%
=Funding pays, the price is against you. Phoenix is 0.036% cheaper against RISEx than usual: you would sell low and buy high (spread −0.035% now, against its 7-day average of +0.001%). If the spread goes back, that is −$4 on $10k: about 12 hours of funding at the current rate (+$7 a day). At the pace of the last 4 days (+0.046% in total) that is about 2.9 days. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.046% in total (about 4.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.29 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | RISEx MU/USDC | 1,038.2 | 0 | get 0.0000% / 1h | 28m 35s | $314K | $387K | 20x |
| Short | Phoenix MU | 1,037.8 | 0.0231 | get 0.0029% / 1h | 28m 35s | $531K | $270K | 15x |
RISEx MU/USDC
Phoenix MUFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against RISEx. 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
- $48.45
- Price spread: −0.035% → +0.001%
- −$3.57
- Slippage, 4 orders
- −$20.55
- Fee RISEx: 3 bp × 2 orders
- −$6
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $11.33
- Costs to cover
- 0.335%
- Break-even
- 5.4 days
Slippage from RISEx: live order book, 15 min ago; Phoenix: live order book, 14 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 RISEx live order book, 15 min ago | 0.63 bp | 3.6 bp −$4 | 4.9 bp −$49 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 14 min ago | 3.86 bp | 13.1 bp −$13 | 29.1 bp −$291 | doesn't fit | 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 | −0.0853% | 4h | 1,037.1 | −0.104% | $1.3M | $673K | 10x | as long as short |
| Bitget MUUSDT | −0.0212% | 8h | 1,038.3 | +0.011% | $20.2M | $40.3M | 50x | as long as short |
| Aster MUUSD1 | 0.0000% | 8h | 1,038.6 | +0.039% | $21.2M | $59.1M | 20x | as long as short |
| Binance MUUSDT | 0.0000% | 8h | 1,038.1 | −0.002% | $121.6M | $537.5M | 50x | as long as short |
| Bybit MUUSDT | 0.0000% | 8h | 1,038.3 | +0.012% | $18.5M | $32.2M | 100x | as long as short |
| OKX MU-USDT-SWAP | 0.0000% | 8h | 1,038.1 | −0.008% | $29.9M | $100.0M | 50x | as long as short |
| RISEx MU/USDClong | 0.0000% | 1h | 1,038.2 | long leg | $314K | $387K | 20x | |
| Gate MU_USDT | 0.0000% | 8h | 1,038 | −0.016% | $61.6M | $28.5M | 75x | as long as short |
| Variational Omni MU | 0.0000% | 8h | 1,037.4 | −0.077% | $2.5M | $2.6M | — | as long as short |
| GRVT MU_USDT_Perp | 0.0000% | 8h | 1,037.6 | −0.053% | $73K | $1.4M | 10x | as long as short |
edgeX MUUSDC
Bitget MUUSDT
Aster MUUSD1
Binance MUUSDT
Bybit MUUSDT
OKX MU-USDT-SWAP
Gate MU_USDT
Variational Omni MU
GRVT MU_USDT_PerpShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| StandX MU-USD | 0.0000% | 1h | 1,038.1 | −0.004% | $188K | $3.5M | 20x | as long as short |
| Bullet MU-USD | 0.0000% | 1h | 1,038.1 | −0.008% | $26K | $389K | 10x | as long as short |
| SunX MU-USDT | 0.0000% | 8h | 1,039.6 | +0.138% | $11K | $5.6M | 10x | as long as short |
| Deribit MU_USDC-PERPETUAL | 0.0000% | 1h | 1,037.7 | −0.046% | $74K | $563K | 10x | as long as short |
| HTX MU-USDT | 0.0000% | 8h | 1,037.4 | −0.071% | $128K | $441K | 50x | as long as short |
| Nado MU-PERP | +0.0001% | 1h | 1,037.9 | −0.023% | $278K | $815K | 10x | as long as short |
| Aftermath Perps MUUSD | +0.0014% | 1h | 1,036.5 | −0.155% | $3K | $44K | 10x | as long as short |
| Lighter MU | +0.0032% | 1h | 1,038.3 | +0.009% | $1.1M | $4.9M | 20x | as long as short |
| Lighter RH MU | +0.0032% | 1h | 1,038.1 | −0.005% | $1.2M | $4.4M | 10x | as long as short |
| Extended MU_24_5-USD | +0.0032% | 1h | 1,037.8 | −0.035% | $540K | $1.1M | 10x | as long as short |
| QFEX MU-USD | +0.0032% | 1h | 1,038.1 | −0.008% | $7.0M | $18.6M | 10x | as long as short |
| Injective MU/USDC PERP | +0.0033% | 1h | 1,051.4 | +1.271% | $19K | $5K | 12x | as long as short |
| Arcus MU-USD | +0.0040% | 1h | 1,037.2 | −0.089% | $70K | $230K | 10x | as long as short |
| Vest MU-USD-PERP | +0.0046% | 1h | 1,037.9 | −0.026% | — | $175K | 25x | as long as short |
| tradeXYZ xyz:MU | +0.0050% | 1h | 1,037.9 | −0.025% | $176.3M | $88.1M | 10x | as long as short |
| Polymarket Perps MU-USD | +0.0050% | 1h | 1,037.8 | −0.035% | $168K | $195K | 10x | as long as short |
| SoDEX MU-USD | +0.0050% | 1h | 1,038 | −0.020% | $681K | $15K | 10x | as long as short |
| Ondo Perps MU-USD.P | +0.0050% | 1h | 1,037.5 | −0.066% | $1.8M | $2.6M | 10x | as long as short |
| Paradex MU-USD-PERP | +0.0052% | 8h | 1,038.3 | +0.009% | $2K | — | 5x | as long as short |
| Aevo MU-PERP | +0.0080% | 1h | 1,037.6 | −0.057% | $32K | $1K | 10x | as long as short |
| Pacifica MU | +0.0100% | 1h | 1,037.9 | −0.027% | $147K | $190K | 10x | as long as short |
| KuCoin MUUSDTM | +0.0100% | 8h | 1,037.9 | −0.028% | $5.2M | $3.9M | 20x | as long as short |
| ApeX Omni MUUSDT | +0.0100% | 1h | 1,037.2 | −0.097% | $70K | $270K | 50x | as long as short |
| Orderly PERP_MU_USDC_mythos | +0.0100% | 8h | 1,037.9 | −0.026% | $825 | $799 | 20x | as long as short |
| Coinbase International MU-PERP-INTX | +0.0104% | 1h | 1,036 | −0.206% | $731K | $1.2M | 10x | as long as short |
| BloFin MU-USDT | +0.0120% | 8h | 1,038.1 | −0.002% | $1.5M | $2.1M | 20x | as long as short |
| Phoenix MUshort | +0.0231% | 1h | 1,037.8 | −0.035% | $531K | $270K | 15x |
StandX MU-USD
Bullet MU-USD
SunX MU-USDT
Deribit MU_USDC-PERPETUAL
HTX MU-USDT
Nado MU-PERP
Aftermath Perps MUUSD
Lighter MU
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
Aevo MU-PERP
Pacifica MU
KuCoin MUUSDTM
ApeX Omni MUUSDT
Orderly PERP_MU_USDC_mythos
Coinbase International MU-PERP-INTX
BloFin MU-USDT