Funding you earn now, next payment 02:00 UTC+0.0229%/8h= +25.0% APRpaid last 24h +0.090%
Price spread now: Phoenix against SunX−0.162%7-day average −0.135% · you buy dearer than you sell
Net, funding: paid 7d − costs−$38as in the Funding arb table
Net, price: spread back to 7d avg − costs−$83as in the Price arb table
costs, in and out, $10k−$800.800% of the position
Funding, last 7 days+0.417%+$42 on $10k
+Price spread, last 4 days (all we have)+0.172%+$17 · spread now −0.162%, 7d avg −0.135%
=Funding pays, the price is against you. Phoenix is 0.026% cheaper against SunX than usual: you would sell low and buy high (spread −0.162% now, against its 7-day average of −0.135%). If the spread goes back, that is −$3 on $10k: about 9 hours of funding at the current rate (+$7 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | SunX MU-USDT | 1,052.5 | 0 | get 0.0000% / 8h | 5h 32m | $11K | $5.9M | 10x |
| Short | Phoenix MU | 1,050.8 | 0.0229 | get 0.0029% / 1h | 32m 50s | $537K | $271K | 15x |
SunX MU-USDT
Phoenix MUFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against SunX. 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
- $48.02
- Price spread: −0.162% → −0.135%
- −$2.64
- Slippage, 4 orders
- −$64.99
- Fee SunX: 4 bp × 2 orders
- −$8
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$34.61
- Costs to cover
- 0.800%
- Break-even
- 12.0 days
Slippage from SunX: live order book, 6 min ago; Phoenix: live order book, 30 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 SunX live order book, 6 min ago | 21.59 bp | 25.6 bp −$26 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 30 min ago | 2.85 bp | 10.7 bp −$11 | 22.6 bp −$226 | 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 | −0.0868% | 4h | 1,050.2 | −0.217% | $1.3M | $672K | 10x | as long as short |
| RISEx MU/USDC | 0.0000% | 1h | 1,050.8 | −0.158% | $333K | $348K | 20x | as long as short |
| Gate MU_USDT | 0.0000% | 8h | 1,050.7 | −0.172% | $62.1M | $27.4M | 75x | as long as short |
| GRVT MU_USDT_Perp | 0.0000% | 8h | 1,050.5 | −0.194% | $85K | $1.3M | 10x | as long as short |
| StandX MU-USD | 0.0000% | 1h | 1,050.2 | −0.223% | $190K | $3.5M | 20x | as long as short |
| SunX MU-USDTlong | 0.0000% | 8h | 1,052.5 | long leg | $11K | $5.9M | 10x | |
| Deribit MU_USDC-PERPETUAL | 0.0000% | 1h | 1,050.4 | −0.200% | $67K | $369K | 10x | as long as short |
| HTX MU-USDT | 0.0000% | 8h | 1,050.4 | −0.196% | $129K | $428K | 50x | as long as short |
| Bybit MUUSDT | +0.0002% | 8h | 1,050.9 | −0.151% | $19.2M | $32.3M | 100x | as long as short |
| Aftermath Perps MUUSD | +0.0020% | 1h | 1,050 | −0.238% | $3K | $44K | 10x | as long as short |
edgeX MUUSDC
RISEx MU/USDC
Gate MU_USDT
GRVT MU_USDT_Perp
StandX MU-USD
Deribit MU_USDC-PERPETUAL
HTX MU-USDT
Bybit MUUSDT
Aftermath Perps MUUSDShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX MU-USDT-SWAP | +0.0027% | 8h | 1,050.7 | −0.170% | $31.0M | $99.8M | 50x | as long as short |
| QFEX MU-USD | +0.0030% | 1h | 1,050.5 | −0.188% | $7.2M | $18.2M | 10x | as long as short |
| Lighter RH MU | +0.0032% | 1h | 1,050.5 | −0.195% | $1.2M | $4.3M | 10x | as long as short |
| Injective MU/USDC PERP | +0.0033% | 1h | 1,051.4 | −0.108% | $19K | $5K | 12x | as long as short |
| Arcus MU-USD | +0.0040% | 1h | 1,050.2 | −0.216% | $71K | $235K | 10x | as long as short |
| Vest MU-USD-PERP | +0.0046% | 1h | 1,051.5 | −0.099% | — | $175K | 25x | as long as short |
| Polymarket Perps MU-USD | +0.0050% | 1h | 1,050.4 | −0.200% | $170K | $202K | 10x | as long as short |
| SoDEX MU-USD | +0.0050% | 1h | 1,050.7 | −0.167% | $690K | $16K | 10x | as long as short |
| Ondo Perps MU-USD.P | +0.0050% | 1h | 1,049.8 | −0.259% | $1.9M | $2.3M | 10x | as long as short |
| Lighter MU | +0.0056% | 1h | 1,050.7 | −0.174% | $1.1M | $4.9M | 20x | as long as short |
| Paradex MU-USD-PERP | +0.0057% | 8h | 1,050.7 | −0.172% | $2K | — | 5x | as long as short |
| Nado MU-PERP | +0.0063% | 1h | 1,050.4 | −0.203% | $282K | $848K | 10x | as long as short |
| Extended MU_24_5-USD | +0.0064% | 1h | 1,050.3 | −0.212% | $564K | $1.1M | 10x | as long as short |
| tradeXYZ xyz:MU | +0.0065% | 1h | 1,050.4 | −0.200% | $178.2M | $99.2M | 10x | as long as short |
| Aster MUUSD1 | +0.0080% | 8h | 1,050.7 | −0.170% | $21.4M | $52.1M | 20x | as long as short |
| Bullet MU-USD | +0.0083% | 1h | 1,050.8 | −0.163% | $25K | $398K | 10x | as long as short |
| Coinbase International MU-PERP-INTX | +0.0096% | 1h | 1,049.9 | −0.243% | $756K | $1.2M | 10x | as long as short |
| Pacifica MU | +0.0100% | 1h | 1,050.2 | −0.217% | $149K | $185K | 10x | as long as short |
| KuCoin MUUSDTM | +0.0100% | 8h | 1,050.6 | −0.184% | $5.3M | $3.4M | 20x | as long as short |
| ApeX Omni MUUSDT | +0.0100% | 1h | 1,050 | −0.238% | $71K | $268K | 50x | as long as short |
| Orderly PERP_MU_USDC_mythos | +0.0100% | 8h | 1,050.7 | −0.172% | $835 | $799 | 20x | as long as short |
| Aevo MU-PERP | +0.0120% | 1h | 1,050.3 | −0.207% | $32K | $1K | 10x | as long as short |
| Variational Omni MU | +0.0122% | 8h | 1,050.5 | −0.193% | $2.7M | $2.4M | — | as long as short |
| Bitget MUUSDT | +0.0132% | 8h | 1,050.8 | −0.162% | $20.6M | $41.1M | 50x | as long as short |
| Binance MUUSDT | +0.0141% | 8h | 1,050.8 | −0.163% | $126.6M | $518.5M | 50x | as long as short |
| Phoenix MUshort | +0.0229% | 1h | 1,050.8 | −0.162% | $537K | $271K | 15x | |
| BloFin MU-USDT | +0.0261% | 8h | 1,050.8 | −0.166% | $1.5M | $2.0M | 20x | as long as short |
OKX MU-USDT-SWAP
QFEX MU-USD
Lighter RH MU
Injective MU/USDC PERP
Arcus MU-USD
Vest MU-USD-PERP
Polymarket Perps MU-USD
SoDEX MU-USD
Ondo Perps MU-USD.P
Lighter MU
Paradex MU-USD-PERP
Nado MU-PERP
Extended MU_24_5-USD
tradeXYZ xyz:MU
Aster MUUSD1
Bullet MU-USD
Coinbase International MU-PERP-INTX
Pacifica MU
KuCoin MUUSDTM
ApeX Omni MUUSDT
Orderly PERP_MU_USDC_mythos
Aevo MU-PERP
Variational Omni MU
Bitget MUUSDT
Binance MUUSDT
BloFin MU-USDT