Funding you earn now, next payment 09:00 UTC+0.0210%/8h= +23.0% APRnext payment +$0.26 per $10,000 · paid last 24h +0.052%
Price spread now: Phoenix against ApeX Omni+0.074%7-day average +0.010% · you sell dearer than you buy
Net, funding: paid 7d − costs−$38as in the Funding arb table
Net, price: spread back to 7d avg − costs−$54as in the Price arb table
costs, in and out, $10k−$600.600% of the position
Funding, last 7 days+0.218%+$22 on $10k
+Price spread, last 4 days (all we have)−0.105%−$10 · spread now +0.074%, 7d avg +0.010%
=Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Phoenix is 0.064% dearer against ApeX Omni than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.010%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | ApeX Omni MUUSDT | 1,033.6 | 0.0100 | pay 0.0013% / 1h | 13m 19s | $70K | $270K | 50x |
| Short | Phoenix MU | 1,034.4 | 0.0310 | get 0.0039% / 1h | 13m 19s | $529K | $269K | 15x |
ApeX Omni MUUSDT
Phoenix MUFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against ApeX 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
- $44.05
- Price spread: +0.074% → +0.010%
- $6.41
- Slippage, 4 orders
- −$42.97
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$9.51
- Costs to cover
- 0.600%
- Break-even
- 8.5 days
Slippage from ApeX Omni: live order book, 36 min ago; Phoenix: live order book, 37 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 ApeX Omni live order book, 36 min ago | 5.18 bp | 17.6 bp −$18 | 185.2 bp −$1,852 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 37 min ago | 3.87 bp | 13.2 bp −$13 | 29.2 bp −$292 | doesn't fit | doesn't fit |
MU on 37 exchanges
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 | −0.0919% | 4h | 1,034.4 | +0.077% | $1.3M | $696K | 10x | as long as short |
| Aster MUUSD1 | 0.0000% | 8h | 1,035.9 | +0.223% | $21.2M | $72.6M | 20x | as long as short |
| Binance MUUSDT | 0.0000% | 8h | 1,035.3 | +0.164% | $120.9M | $550.3M | 50x | as long as short |
| OKX MU-USDT-SWAP | 0.0000% | 8h | 1,035.3 | +0.161% | $29.4M | $106.5M | 50x | as long as short |
| Gate MU_USDT | 0.0000% | 8h | 1,035 | +0.136% | $61.6M | $28.0M | 75x | as long as short |
| Bitget MUUSDT | 0.0000% | 8h | 1,035.2 | +0.147% | $19.8M | $42.8M | 50x | as long as short |
| Variational Omni MU | 0.0000% | 8h | 1,034.5 | +0.088% | $2.6M | $2.6M | — | as long as short |
| StandX MU-USD | 0.0000% | 1h | 1,034.2 | +0.054% | $187K | $3.7M | 20x | as long as short |
| SunX MU-USDT | 0.0000% | 8h | 1,036.3 | +0.254% | $11K | $5.1M | 10x | as long as short |
| HTX MU-USDT | 0.0000% | 8h | 1,034.5 | +0.087% | $119K | $475K | 50x | as long as short |
edgeX MUUSDC
Aster MUUSD1
Binance MUUSDT
OKX MU-USDT-SWAP
Gate MU_USDT
Bitget MUUSDT
Variational Omni MU
StandX MU-USD
SunX MU-USDT
HTX MU-USDTShow all 37 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH MU | +0.0032% | 1h | 1,035.1 | +0.139% | $1.1M | $4.6M | 10x | as long as short |
| Aftermath Perps MUUSD | +0.0033% | 1h | 1,033.8 | +0.017% | $3K | $42K | 10x | as long as short |
| Injective MU/USDC PERP | +0.0033% | 1h | 1,051.4 | +1.715% | $19K | $5K | 12x | as long as short |
| Vest MU-USD-PERP | +0.0046% | 1h | 1,035.7 | +0.196% | — | $177K | 25x | as long as short |
| Polymarket Perps MU-USD | +0.0050% | 1h | 1,035.2 | +0.152% | $167K | $178K | 10x | as long as short |
| SoDEX MU-USD | +0.0050% | 1h | 1,034.7 | +0.104% | $679K | $13K | 10x | as long as short |
| Ondo Perps MU-USD.P | +0.0050% | 1h | 1,032.5 | −0.113% | $1.9M | $3.2M | 10x | as long as short |
| Bybit MUUSDT | +0.0051% | 8h | 1,035.2 | +0.150% | $18.8M | $32.4M | 100x | as long as short |
| QFEX MU-USD | +0.0059% | 1h | 1,035.2 | +0.151% | $7.0M | $19.0M | 10x | as long as short |
| Paradex MU-USD-PERP | +0.0068% | 8h | 1,035.2 | +0.155% | $2K | — | 5x | as long as short |
| Deribit MU_USDC-PERPETUAL | +0.0079% | 1h | 1,034.1 | +0.049% | $42K | $703K | 10x | as long as short |
| Aevo MU-PERP | +0.0080% | 1h | 1,034.8 | +0.115% | $32K | $1K | 10x | as long as short |
| Pacifica MU | +0.0100% | 1h | 1,035.1 | +0.140% | $146K | $223K | 10x | as long as short |
| KuCoin MUUSDTM | +0.0100% | 8h | 1,034.5 | +0.083% | $5.2M | $5.6M | 20x | as long as short |
| ApeX Omni MUUSDTlong | +0.0100% | 1h | 1,033.6 | long leg | $70K | $270K | 50x | |
| Orderly PERP_MU_USDC_mythos | +0.0100% | 8h | 1,035.1 | +0.145% | $823 | $799 | 20x | as long as short |
| RISEx MU/USDC | +0.0107% | 1h | 1,035.2 | +0.152% | $296K | $350K | 20x | as long as short |
| GRVT MU_USDT_Perp | +0.0120% | 8h | 1,033.6 | 0.000% | $76K | $1.4M | 10x | as long as short |
| BloFin MU-USDT | +0.0120% | 8h | 1,034.4 | +0.076% | $1.4M | $2.5M | 20x | as long as short |
| Nado MU-PERP | +0.0124% | 1h | 1,034.6 | +0.091% | $270K | $840K | 10x | as long as short |
| Arcus MU-USD | +0.0139% | 1h | 1,034.8 | +0.111% | $90K | $148K | 10x | as long as short |
| Lighter MU | +0.0144% | 1h | 1,035.4 | +0.169% | $1.0M | $5.1M | 20x | as long as short |
| Coinbase International MU-PERP-INTX | +0.0152% | 1h | 1,033.5 | −0.013% | $732K | $1.2M | 10x | as long as short |
| tradeXYZ xyz:MU | +0.0180% | 1h | 1,034.9 | +0.123% | $175.5M | $75.8M | 10x | as long as short |
| Bullet MU-USD | +0.0212% | 1h | 1,035.2 | +0.147% | $25K | $386K | 10x | as long as short |
| Extended MU_24_5-USD | +0.0272% | 1h | 1,034.5 | +0.088% | $549K | $1.1M | 10x | as long as short |
| Phoenix MUshort | +0.0310% | 1h | 1,034.4 | +0.074% | $529K | $269K | 15x |
Lighter RH MU
Aftermath Perps MUUSD
Injective MU/USDC PERP
Vest MU-USD-PERP
Polymarket Perps MU-USD
SoDEX MU-USD
Ondo Perps MU-USD.P
Bybit MUUSDT
QFEX MU-USD
Paradex MU-USD-PERP
Deribit MU_USDC-PERPETUAL
Aevo MU-PERP
Pacifica MU
KuCoin MUUSDTM
Orderly PERP_MU_USDC_mythos
RISEx MU/USDC
GRVT MU_USDT_Perp
BloFin MU-USDT
Nado MU-PERP
Arcus MU-USD
Lighter MU
Coinbase International MU-PERP-INTX
tradeXYZ xyz:MU
Bullet MU-USD
Extended MU_24_5-USD