Funding you earn now, next payment 07:00 UTC+0.0232%/8h= +25.4% APRpaid last 24h +0.063%
Price spread now: Phoenix against Variational Omni+0.161%7-day average +0.018% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.040%+$4 on $10k
+Price spread, last 4 days (all we have)−0.092%−$9 · spread now +0.161%, 7d avg +0.018%
=Together, before fees−0.052%+ Points / potential airdropVariational Omni: Active · farm board−$5 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Phoenix is 0.143% dearer against Variational Omni than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.018%.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.040% in total (about 4.0% a year). A funding rate is set anew for every payment. 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 | Variational Omni MU | 1,035.2 | 0 | get 0.0000% / 8h | 7h 54m | $2.5M | $2.6M | — |
| Short | Phoenix MU | 1,036.9 | 0.0232 | get 0.0029% / 1h | 54m 52s | $530K | $270K | 15x |
Variational Omni MU
Phoenix MUFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Variational Omni. 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
- $48.62
- Price spread: +0.161% → +0.018%
- $14.26
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $55.88
- Costs to cover
- 0.070%
- Break-even
- from the start
Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Phoenix: live order book, 43 min ago. 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 Variational Omni RFQ quote, 4 min ago | 1.88 bp | doesn't fit | 6.6 bp −$66 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 43 min ago | 2.89 bp | 10.8 bp −$11 | 23.4 bp −$234 | 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 | −0.0168% | 4h | 1,036.3 | +0.102% | $1.3M | $672K | 10x | as long as short |
| Bitget MUUSDT | −0.0116% | 8h | 1,032.8 | −0.234% | $19.9M | $40.5M | 50x | as long as short |
| Aster MUUSD1 | 0.0000% | 8h | 1,033.5 | −0.168% | $21.1M | $68.3M | 20x | as long as short |
| Binance MUUSDT | 0.0000% | 8h | 1,032.7 | −0.242% | $121.8M | $538.7M | 50x | as long as short |
| Bybit MUUSDT | 0.0000% | 8h | 1,032.4 | −0.271% | $18.8M | $32.0M | 100x | as long as short |
| OKX MU-USDT-SWAP | 0.0000% | 8h | 1,032.5 | −0.264% | $29.6M | $100.3M | 50x | as long as short |
| RISEx MU/USDC | 0.0000% | 1h | 1,034.1 | −0.112% | $311K | $381K | 20x | as long as short |
| Gate MU_USDT | 0.0000% | 8h | 1,032.5 | −0.262% | $61.9M | $27.6M | 75x | as long as short |
| Variational Omni MUlong | 0.0000% | 8h | 1,035.2 | long leg | $2.5M | $2.6M | — | |
| GRVT MU_USDT_Perp | 0.0000% | 8h | 1,036.8 | +0.155% | $80K | $1.4M | 10x | as long as short |
edgeX MUUSDC
Bitget MUUSDT
Aster MUUSD1
Binance MUUSDT
Bybit MUUSDT
OKX MU-USDT-SWAP
RISEx MU/USDC
Gate MU_USDT
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 | 1,036.1 | +0.087% | $187K | $3.5M | 20x | as long as short |
| Bullet MU-USD | 0.0000% | 1h | 1,033.4 | −0.177% | $24K | $388K | 10x | as long as short |
| SunX MU-USDT | 0.0000% | 8h | 1,034.5 | −0.068% | $11K | $5.5M | 10x | as long as short |
| Deribit MU_USDC-PERPETUAL | 0.0000% | 1h | 1,032.6 | −0.253% | $73K | $623K | 10x | as long as short |
| HTX MU-USDT | 0.0000% | 8h | 1,032.9 | −0.228% | $126K | $482K | 50x | as long as short |
| Aftermath Perps MUUSD | +0.0021% | 1h | 1,036.3 | +0.102% | $3K | $43K | 10x | as long as short |
| QFEX MU-USD | +0.0027% | 1h | 1,034.1 | −0.108% | $7.0M | $18.7M | 10x | as long as short |
| Lighter MU | +0.0032% | 1h | 1,032.3 | −0.286% | $1.0M | $4.9M | 20x | as long as short |
| Lighter RH MU | +0.0032% | 1h | 1,032.2 | −0.296% | $1.1M | $4.4M | 10x | as long as short |
| Extended MU_24_5-USD | +0.0032% | 1h | 1,032.5 | −0.265% | $550K | $1.1M | 10x | as long as short |
| Injective MU/USDC PERP | +0.0033% | 1h | 1,051.4 | +1.558% | $19K | $5K | 12x | as long as short |
| Arcus MU-USD | +0.0040% | 1h | 1,033.7 | −0.150% | $90K | $244K | 10x | as long as short |
| Vest MU-USD-PERP | +0.0046% | 1h | 1,033.9 | −0.129% | — | $176K | 25x | as long as short |
| Nado MU-PERP | +0.0048% | 1h | 1,033.3 | −0.189% | $273K | $807K | 10x | as long as short |
| tradeXYZ xyz:MU | +0.0050% | 1h | 1,032.2 | −0.293% | $175.2M | $80.8M | 10x | as long as short |
| Polymarket Perps MU-USD | +0.0050% | 1h | 1,033 | −0.216% | $167K | $177K | 10x | as long as short |
| SoDEX MU-USD | +0.0050% | 1h | 1,032.4 | −0.270% | $678K | $15K | 10x | as long as short |
| Paradex MU-USD-PERP | +0.0050% | 8h | 1,034 | −0.116% | $2K | — | 5x | as long as short |
| Ondo Perps MU-USD.P | +0.0050% | 1h | 1,033.6 | −0.162% | $1.9M | $2.8M | 10x | as long as short |
| Aevo MU-PERP | +0.0080% | 1h | 1,032.8 | −0.235% | $32K | $1K | 10x | as long as short |
| Coinbase International MU-PERP-INTX | +0.0096% | 1h | 1,035.2 | +0.001% | $724K | $1.1M | 10x | as long as short |
| Pacifica MU | +0.0100% | 1h | 1,034.2 | −0.097% | $144K | $191K | 10x | as long as short |
| KuCoin MUUSDTM | +0.0100% | 8h | 1,033.2 | −0.200% | $5.2M | $4.3M | 20x | as long as short |
| ApeX Omni MUUSDT | +0.0100% | 1h | 1,037 | +0.174% | $70K | $270K | 50x | as long as short |
| Orderly PERP_MU_USDC_mythos | +0.0100% | 8h | 1,034 | −0.119% | $822 | $799 | 20x | as long as short |
| BloFin MU-USDT | +0.0120% | 8h | 1,032.8 | −0.240% | $1.5M | $2.1M | 20x | as long as short |
| Phoenix MUshort | +0.0232% | 1h | 1,036.9 | +0.161% | $530K | $270K | 15x |
StandX MU-USD
Bullet MU-USD
SunX MU-USDT
Deribit MU_USDC-PERPETUAL
HTX MU-USDT
Aftermath Perps MUUSD
QFEX MU-USD
Lighter MU
Lighter RH MU
Extended MU_24_5-USD
Injective MU/USDC PERP
Arcus MU-USD
Vest MU-USD-PERP
Nado MU-PERP
tradeXYZ xyz:MU
Polymarket Perps MU-USD
SoDEX MU-USD
Paradex MU-USD-PERP
Ondo Perps MU-USD.P
Aevo MU-PERP
Coinbase International MU-PERP-INTX
Pacifica MU
KuCoin MUUSDTM
ApeX Omni MUUSDT
Orderly PERP_MU_USDC_mythos
BloFin MU-USDT