Funding you earn now, next payment 03:00 UTC+0.0264%/8h= +28.9% APRnext payment +$0.33 per $10,000 · paid last 24h +0.052%
Price spread now: Phoenix against Arcus+0.029%7-day average +0.050% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$48as in the Price arb table
costs, in and out, $10k−$460.462% of the position
Funding, last 4 days (all we have)−0.054%−$5 on $10k
+Price spread, last 4 days (all we have)−0.087%−$9 · spread now +0.029%, 7d avg +0.050%
=Funding pays, the price is against you. Phoenix is 0.021% cheaper against Arcus than usual: you would sell low and buy high (spread +0.029% now, against its 7-day average of +0.050%). If the spread goes back, that is −$2 on $10k: about 6 hours of funding at the current rate (+$8 a day). Mind the row above: over the last 4 days funding on this pair cost −0.054%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.054% in total (about -5.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.33 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 | Arcus MU-USD | 1,052 | 0.0040 | pay 0.0005% / 1h | 35m 31s | $71K | $234K | 10x |
| Short | Phoenix MU | 1,052.3 | 0.0304 | get 0.0038% / 1h | 35m 31s | $538K | $271K | 15x |
Arcus MU-USD
Phoenix MUFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Arcus. 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
- $55.38
- Price spread: +0.029% → +0.050%
- −$2.14
- Slippage, 4 orders
- −$34.69
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $7.05
- Costs to cover
- 0.462%
- Break-even
- 6.1 days
Slippage from Arcus: live order book, 23 min ago; Phoenix: live order book, 22 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 Arcus live order book, 23 min ago | 3.42 bp | 8.5 bp −$8 | 12.7 bp −$127 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 22 min ago | 3.80 bp | 13.0 bp −$13 | 29.3 bp −$293 | 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 | −0.0619% | 4h | 1,052.1 | +0.005% | $1.3M | $672K | 10x | as long as short |
| OKX MU-USDT-SWAP | 0.0000% | 8h | 1,052.4 | +0.033% | $31.2M | $99.8M | 50x | as long as short |
| RISEx MU/USDC | 0.0000% | 1h | 1,052.5 | +0.048% | $334K | $348K | 20x | as long as short |
| Gate MU_USDT | 0.0000% | 8h | 1,052.3 | +0.027% | $62.3M | $27.4M | 75x | as long as short |
| GRVT MU_USDT_Perp | 0.0000% | 8h | 1,052.3 | +0.031% | $82K | $1.3M | 10x | as long as short |
| StandX MU-USD | 0.0000% | 1h | 1,051.6 | −0.035% | $190K | $3.4M | 20x | as long as short |
| SunX MU-USDT | 0.0000% | 8h | 1,054.1 | +0.202% | $11K | $5.8M | 10x | as long as short |
| HTX MU-USDT | 0.0000% | 8h | 1,052.4 | +0.037% | $131K | $436K | 50x | as long as short |
| Aster MUUSD1 | +0.0004% | 8h | 1,052.1 | +0.014% | $21.4M | $55.0M | 20x | as long as short |
| Aftermath Perps MUUSD | +0.0018% | 1h | 1,052.3 | +0.027% | $3K | $45K | 10x | as long as short |
edgeX MUUSDC
OKX MU-USDT-SWAP
RISEx MU/USDC
Gate MU_USDT
GRVT MU_USDT_Perp
StandX MU-USD
SunX MU-USDT
HTX MU-USDT
Aster MUUSD1
Aftermath Perps MUUSDShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit MUUSDT | +0.0025% | 8h | 1,052.7 | +0.067% | $19.1M | $32.3M | 100x | as long as short |
| Variational Omni MU | +0.0032% | 8h | 1,052.2 | +0.022% | $2.7M | $2.4M | — | as long as short |
| Lighter RH MU | +0.0032% | 1h | 1,052.3 | +0.030% | $1.3M | $4.4M | 10x | as long as short |
| Extended MU_24_5-USD | +0.0032% | 1h | 1,051.7 | −0.029% | $564K | $1.1M | 10x | as long as short |
| Injective MU/USDC PERP | +0.0033% | 1h | 1,051.4 | −0.061% | $19K | $5K | 12x | as long as short |
| QFEX MU-USD | +0.0034% | 1h | 1,052.1 | +0.013% | $7.2M | $17.9M | 10x | as long as short |
| Arcus MU-USDlong | +0.0040% | 1h | 1,052 | long leg | $71K | $234K | 10x | |
| Bullet MU-USD | +0.0041% | 1h | 1,052.4 | +0.034% | $24K | $398K | 10x | as long as short |
| Vest MU-USD-PERP | +0.0046% | 1h | 1,053.2 | +0.118% | — | $176K | 25x | as long as short |
| Nado MU-PERP | +0.0046% | 1h | 1,051.9 | −0.008% | $282K | $842K | 10x | as long as short |
| Lighter MU | +0.0048% | 1h | 1,052.4 | +0.034% | $1.1M | $5.1M | 20x | as long as short |
| Polymarket Perps MU-USD | +0.0050% | 1h | 1,052.1 | +0.010% | $171K | $202K | 10x | as long as short |
| SoDEX MU-USD | +0.0050% | 1h | 1,052.3 | +0.028% | $691K | $16K | 10x | as long as short |
| Ondo Perps MU-USD.P | +0.0050% | 1h | 1,051.4 | −0.054% | $1.9M | $2.2M | 10x | as long as short |
| Paradex MU-USD-PERP | +0.0052% | 8h | 1,052.4 | +0.038% | $2K | — | 5x | as long as short |
| Binance MUUSDT | +0.0067% | 8h | 1,052.5 | +0.046% | $126.8M | $517.0M | 50x | as long as short |
| Deribit MU_USDC-PERPETUAL | +0.0073% | 1h | 1,052.1 | +0.011% | $69K | $420K | 10x | as long as short |
| tradeXYZ xyz:MU | +0.0078% | 1h | 1,052 | 0.000% | $178.9M | $99.0M | 10x | as long as short |
| Coinbase International MU-PERP-INTX | +0.0080% | 1h | 1,052.1 | +0.012% | $758K | $1.2M | 10x | as long as short |
| Aevo MU-PERP | +0.0096% | 1h | 1,051.9 | −0.012% | $32K | $1K | 10x | as long as short |
| Pacifica MU | +0.0100% | 1h | 1,052.4 | +0.037% | $148K | $185K | 10x | as long as short |
| KuCoin MUUSDTM | +0.0100% | 8h | 1,052 | +0.003% | $5.3M | $3.4M | 20x | as long as short |
| ApeX Omni MUUSDT | +0.0100% | 1h | 1,052.3 | +0.030% | $71K | $268K | 50x | as long as short |
| Orderly PERP_MU_USDC_mythos | +0.0100% | 8h | 1,052.2 | +0.017% | $836 | $799 | 20x | as long as short |
| Bitget MUUSDT | +0.0113% | 8h | 1,052.3 | +0.029% | $20.6M | $41.1M | 50x | as long as short |
| BloFin MU-USDT | +0.0188% | 8h | 1,052.3 | +0.028% | $1.5M | $2.0M | 20x | as long as short |
| Phoenix MUshort | +0.0304% | 1h | 1,052.3 | +0.029% | $538K | $271K | 15x |
Bybit MUUSDT
Variational Omni MU
Lighter RH MU
Extended MU_24_5-USD
Injective MU/USDC PERP
QFEX MU-USD
Bullet MU-USD
Vest MU-USD-PERP
Nado MU-PERP
Lighter MU
Polymarket Perps MU-USD
SoDEX MU-USD
Ondo Perps MU-USD.P
Paradex MU-USD-PERP
Binance MUUSDT
Deribit MU_USDC-PERPETUAL
tradeXYZ xyz:MU
Coinbase International MU-PERP-INTX
Aevo MU-PERP
Pacifica MU
KuCoin MUUSDTM
ApeX Omni MUUSDT
Orderly PERP_MU_USDC_mythos
Bitget MUUSDT
BloFin MU-USDT