Funding you earn now, next payment 08:00 UTC+0.0019%/8h= +2.1% APRnext payment +$0.02 per $10,000 · paid last 24h +0.054%
Price spread now: Phoenix against Bullet+0.108%62s7-day average +0.002% · 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—prices read too far apart to compare
costs, in and out, $10k−$420.415% of the position
Funding, last 4 days (all we have)−0.036%−$4 on $10k
+Price spread, last 4 days (all we have)−0.112%−$11 · spread now +0.108%, 7d avg +0.002%
=Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Phoenix is 0.106% dearer against Bullet than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.002%. The two prices were read 62 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bullet MU-USD | 1,032 | 0.0212 | pay 0.0027% / 1h | 53m 56s | $26K | $387K | 10x |
| Short | Phoenix MU | 1,033.1 | 0.0231 | get 0.0029% / 1h | 53m 56s | $529K | $269K | 15x |
Bullet MU-USD
Phoenix MUFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Bullet. 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
- $3.98
- Price spread: +0.108% → +0.002%
- $10.59
- Slippage, 4 orders
- −$26.52
- Fee Bullet: 4 bp × 2 orders
- −$8
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$26.94
- Costs to cover
- 0.415%
- Break-even
- 54.4 days
Slippage from Bullet: live order book, 40 min ago; Phoenix: live order book, 39 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 Bullet live order book, 40 min ago | 1.46 bp | 7.8 bp −$8 | 20.4 bp −$204 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 39 min ago | 3.90 bp | 13.2 bp −$13 | 29.4 bp −$294 | 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 | −0.0959% | 4h | 1,032.8 | +0.078% | $1.3M | $694K | 10x | as long as short |
| Aster MUUSD1 | 0.0000% | 8h | 1,032.7 | +0.066% | $21.1M | $69.9M | 20x | as long as short |
| Binance MUUSDT | 0.0000% | 8h | 1,032.1 | +0.015% | $121.3M | $552.6M | 50x | as long as short |
| OKX MU-USDT-SWAP | 0.0000% | 8h | 1,031.8 | −0.023% | $29.2M | $104.9M | 50x | as long as short |
| Gate MU_USDT | 0.0000% | 8h | 1,032 | −0.003% | $61.6M | $27.5M | 75x | as long as short |
| Bitget MUUSDT | 0.0000% | 8h | 1,032.1 | +0.011% | $19.6M | $42.1M | 50x | as long as short |
| Variational Omni MU | 0.0000% | 8h | 1,033.1 | +0.108% | $2.6M | $2.7M | — | as long as short |
| StandX MU-USD | 0.0000% | 1h | 1,032.8 | +0.074% | $187K | $3.7M | 20x | as long as short |
| SunX MU-USDT | 0.0000% | 8h | 1,033.2 | +0.115% | $11K | $5.2M | 10x | as long as short |
| HTX MU-USDT | 0.0000% | 8h | 1,031.9 | −0.005% | $119K | $489K | 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 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aftermath Perps MUUSD | +0.0030% | 1h | 1,031.6 | −0.037% | $3K | $42K | 10x | as long as short |
| Lighter RH MU | +0.0032% | 1h | 1,031.8 | −0.017% | $1.1M | $4.5M | 10x | as long as short |
| Injective MU/USDC PERP | +0.0033% | 1h | 1,051.4 | +1.878% | $19K | $5K | 12x | as long as short |
| Vest MU-USD-PERP | +0.0046% | 1h | 1,031.9 | −0.004% | — | $178K | 25x | as long as short |
| Polymarket Perps MU-USD | +0.0050% | 1h | 1,031.3 | −0.066% | $167K | $177K | 10x | as long as short |
| SoDEX MU-USD | +0.0050% | 1h | 1,031.6 | −0.033% | $677K | $13K | 10x | as long as short |
| Ondo Perps MU-USD.P | +0.0050% | 1h | 1,030.4 | −0.157% | $1.9M | $3.2M | 10x | as long as short |
| QFEX MU-USD | +0.0059% | 1h | 1,031.3 | −0.064% | $7.0M | $19.0M | 10x | as long as short |
| Aevo MU-PERP | +0.0080% | 1h | 1,031.6 | −0.037% | $32K | $1K | 10x | as long as short |
| Lighter MU | +0.0088% | 1h | 1,032 | −0.002% | $1.0M | $5.0M | 20x | as long as short |
| Paradex MU-USD-PERP | +0.0090% | 8h | 1,031.2 | −0.075% | $2K | — | 5x | as long as short |
| Bybit MUUSDT | +0.0091% | 8h | 1,032.3 | +0.033% | $18.7M | $32.6M | 100x | as long as short |
| Pacifica MU | +0.0100% | 1h | 1,031.3 | −0.070% | $146K | $227K | 10x | as long as short |
| KuCoin MUUSDTM | +0.0100% | 8h | 1,031.7 | −0.025% | $5.2M | $5.1M | 20x | as long as short |
| ApeX Omni MUUSDT | +0.0100% | 1h | 1,032.8 | +0.077% | $70K | $270K | 50x | as long as short |
| Orderly PERP_MU_USDC_mythos | +0.0100% | 8h | 1,032 | 0.000% | $820 | $799 | 20x | as long as short |
| RISEx MU/USDC | +0.0107% | 1h | 1,031.8 | −0.023% | $295K | $373K | 20x | as long as short |
| tradeXYZ xyz:MU | +0.0119% | 1h | 1,031.6 | −0.037% | $174.5M | $77.3M | 10x | as long as short |
| Nado MU-PERP | +0.0119% | 1h | 1,031.1 | −0.084% | $263K | $809K | 10x | as long as short |
| BloFin MU-USDT | +0.0120% | 8h | 1,031.2 | −0.073% | $1.4M | $2.3M | 20x | as long as short |
| Arcus MU-USD | +0.0139% | 1h | 1,030.9 | −0.105% | $89K | $233K | 10x | as long as short |
| Coinbase International MU-PERP-INTX | +0.0152% | 1h | 1,031.6 | −0.033% | $730K | $1.2M | 10x | as long as short |
| Bullet MU-USDlong | +0.0212% | 1h | 1,032 | long leg | $26K | $387K | 10x | |
| Deribit MU_USDC-PERPETUAL | +0.0225% | 1h | 1,031.5 | −0.047% | $72K | $636K | 10x | as long as short |
| Phoenix MUshort | +0.0231% | 1h | 1,033.1 | +0.108% | $529K | $269K | 15x | |
| Extended MU_24_5-USD | +0.0240% | 1h | 1,031.5 | −0.045% | $542K | $1.1M | 10x | as long as short |
| GRVT MU_USDT_Perp | +0.0356% | 8h | 1,033.3 | +0.132% | $73K | $1.4M | 10x | as long as short |
Aftermath Perps MUUSD
Lighter RH MU
Injective MU/USDC PERP
Vest MU-USD-PERP
Polymarket Perps MU-USD
SoDEX MU-USD
Ondo Perps MU-USD.P
QFEX MU-USD
Aevo MU-PERP
Lighter MU
Paradex MU-USD-PERP
Bybit MUUSDT
Pacifica MU
KuCoin MUUSDTM
ApeX Omni MUUSDT
Orderly PERP_MU_USDC_mythos
RISEx MU/USDC
tradeXYZ xyz:MU
Nado MU-PERP
BloFin MU-USDT
Arcus MU-USD
Coinbase International MU-PERP-INTX
Deribit MU_USDC-PERPETUAL
Extended MU_24_5-USD
GRVT MU_USDT_Perp