Funding you earn now, next payment 09:00 UTC+0.0185%/8h= +20.2% APRnext payment +$0.23 per $10,000 · paid last 24h +0.050%
Price spread now: Phoenix against Nado+0.091%7-day average +0.033% · 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−$31as in the Price arb table
costs, in and out, $10k−$370.371% of the position
Funding, last 4 days (all we have)+0.073%+$7 on $10k
+Price spread, last 4 days (all we have)−0.078%−$8 · spread now +0.091%, 7d avg +0.033%
=Together, before fees−0.006%+ Points / potential airdropNado: Active · farm board−$1 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Phoenix is 0.058% dearer against Nado than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.033%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Nado MU-PERP | 1,034.6 | 0.0125 | pay 0.0016% / 1h | 8m 49s | $270K | $839K | 10x |
| Short | Phoenix MU | 1,035.5 | 0.0310 | get 0.0039% / 1h | 8m 49s | $530K | $269K | 15x |
Nado MU-PERP
Phoenix MUFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Nado. 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
- $38.77
- Price spread: +0.091% → +0.033%
- $5.79
- Slippage, 4 orders
- −$23.05
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $7.52
- Costs to cover
- 0.371%
- Break-even
- 5.6 days
Slippage from Nado: live order book, 42 min ago; Phoenix: live order book, 42 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 Nado live order book, 42 min ago | 0.05 bp | 6.2 bp −$6 | 15.8 bp −$158 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 42 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 | −0.0330% | 4h | 1,035.1 | +0.055% | $1.3M | $694K | 10x | as long as short |
| Aster MUUSD1 | 0.0000% | 8h | 1,035.8 | +0.124% | $21.2M | $73.0M | 20x | as long as short |
| Binance MUUSDT | 0.0000% | 8h | 1,035.3 | +0.073% | $120.9M | $550.3M | 50x | as long as short |
| OKX MU-USDT-SWAP | 0.0000% | 8h | 1,035.2 | +0.057% | $29.4M | $106.5M | 50x | as long as short |
| Gate MU_USDT | 0.0000% | 8h | 1,034.9 | +0.036% | $61.6M | $28.0M | 75x | as long as short |
| Bitget MUUSDT | 0.0000% | 8h | 1,035.3 | +0.067% | $19.8M | $42.8M | 50x | as long as short |
| Variational Omni MU | 0.0000% | 8h | 1,035.2 | +0.065% | $2.6M | $2.6M | — | as long as short |
| StandX MU-USD | 0.0000% | 1h | 1,034.2 | −0.036% | $187K | $3.7M | 20x | as long as short |
| SunX MU-USDT | 0.0000% | 8h | 1,037 | +0.237% | $11K | $5.1M | 10x | as long as short |
| Deribit MU_USDC-PERPETUAL | 0.0000% | 1h | 1,034.6 | +0.007% | $39K | $707K | 10x | 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
Deribit MU_USDC-PERPETUALShow all 37 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX MU-USDT | 0.0000% | 8h | 1,035.1 | +0.052% | $119K | $475K | 50x | as long as short |
| Lighter RH MU | +0.0032% | 1h | 1,035.2 | +0.063% | $1.1M | $4.6M | 10x | as long as short |
| Aftermath Perps MUUSD | +0.0032% | 1h | 1,034.4 | −0.019% | $3K | $42K | 10x | as long as short |
| Injective MU/USDC PERP | +0.0033% | 1h | 1,051.4 | +1.624% | $19K | $5K | 12x | as long as short |
| Vest MU-USD-PERP | +0.0046% | 1h | 1,035.7 | +0.107% | — | $177K | 25x | as long as short |
| Bybit MUUSDT | +0.0048% | 8h | 1,035.5 | +0.088% | $18.8M | $32.4M | 100x | as long as short |
| Polymarket Perps MU-USD | +0.0050% | 1h | 1,034.9 | +0.033% | $167K | $178K | 10x | as long as short |
| SoDEX MU-USD | +0.0050% | 1h | 1,035.2 | +0.057% | $679K | $13K | 10x | as long as short |
| Ondo Perps MU-USD.P | +0.0050% | 1h | 1,033.9 | −0.064% | $1.9M | $3.2M | 10x | as long as short |
| QFEX MU-USD | +0.0059% | 1h | 1,035 | +0.038% | $7.0M | $19.1M | 10x | as long as short |
| Paradex MU-USD-PERP | +0.0070% | 8h | 1,035.1 | +0.053% | $2K | — | 5x | as long as short |
| Aevo MU-PERP | +0.0080% | 1h | 1,034.8 | +0.024% | $32K | $1K | 10x | as long as short |
| Pacifica MU | +0.0100% | 1h | 1,035.2 | +0.059% | $146K | $223K | 10x | as long as short |
| KuCoin MUUSDTM | +0.0100% | 8h | 1,034.5 | −0.004% | $5.2M | $5.7M | 20x | as long as short |
| ApeX Omni MUUSDT | +0.0100% | 1h | 1,035.7 | +0.106% | $70K | $270K | 50x | as long as short |
| Orderly PERP_MU_USDC_mythos | +0.0100% | 8h | 1,035.1 | +0.055% | $823 | $799 | 20x | as long as short |
| RISEx MU/USDC | +0.0107% | 1h | 1,035.4 | +0.078% | $295K | $351K | 20x | as long as short |
| BloFin MU-USDT | +0.0120% | 8h | 1,035.4 | +0.085% | $1.4M | $2.5M | 20x | as long as short |
| Nado MU-PERPlong | +0.0125% | 1h | 1,034.6 | long leg | $270K | $839K | 10x | |
| Arcus MU-USD | +0.0139% | 1h | 1,034.8 | +0.019% | $90K | $148K | 10x | as long as short |
| Lighter MU | +0.0144% | 1h | 1,035.3 | +0.067% | $1.0M | $5.1M | 20x | as long as short |
| Coinbase International MU-PERP-INTX | +0.0152% | 1h | 1,033.5 | −0.102% | $732K | $1.1M | 10x | as long as short |
| tradeXYZ xyz:MU | +0.0181% | 1h | 1,035.1 | +0.052% | $175.6M | $75.0M | 10x | as long as short |
| GRVT MU_USDT_Perp | +0.0183% | 8h | 1,035.5 | +0.090% | $76K | $1.4M | 10x | as long as short |
| Bullet MU-USD | +0.0210% | 1h | 1,035.3 | +0.076% | $25K | $386K | 10x | as long as short |
| Extended MU_24_5-USD | +0.0296% | 1h | 1,034.3 | −0.027% | $549K | $1.1M | 10x | as long as short |
| Phoenix MUshort | +0.0310% | 1h | 1,035.5 | +0.091% | $530K | $269K | 15x |
HTX MU-USDT
Lighter RH MU
Aftermath Perps MUUSD
Injective MU/USDC PERP
Vest MU-USD-PERP
Bybit MUUSDT
Polymarket Perps MU-USD
SoDEX MU-USD
Ondo Perps MU-USD.P
QFEX MU-USD
Paradex MU-USD-PERP
Aevo MU-PERP
Pacifica MU
KuCoin MUUSDTM
ApeX Omni MUUSDT
Orderly PERP_MU_USDC_mythos
RISEx MU/USDC
BloFin MU-USDT
Arcus MU-USD
Lighter MU
Coinbase International MU-PERP-INTX
tradeXYZ xyz:MU
GRVT MU_USDT_Perp
Bullet MU-USD
Extended MU_24_5-USD