Funding you earn now, next payment 09:00 UTC+0.0259%/8h= +28.4% APRnext payment +$0.32 per $10,000 · paid last 24h +0.067%
Price spread now: Phoenix against Ondo Perps+0.155%48s7-day average +0.118% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.319%+$32 on $10k
+Price spread, last 4 days (all we have)−0.131%−$13 · spread now +0.155%, 7d avg +0.118%
=Together, before fees+0.189%+ Points / potential airdropOndo Perps: Active · farm board+$19 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Phoenix is 0.037% dearer against Ondo Perps than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.118%. The two prices were read 48 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 | Ondo Perps MU-USD.P | 1,033.9 | 0.0050 | pay 0.0006% / 1h | 8m 11s | $1.9M | $3.2M | 10x |
| Short | Phoenix MU | 1,035.5 | 0.0310 | get 0.0039% / 1h | 8m 11s | $530K | $269K | 15x |
Ondo Perps MU-USD.P
Phoenix MUFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Ondo Perps. 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
- $54.46
- Price spread: +0.155% → +0.118%
- $3.71
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $46.17
- Costs to cover
- 0.120%
- Break-even
- 1.1 days
Slippage unknown: Ondo Perps: no order-book sample; Phoenix: live order book, 42 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 Ondo Perps no order-book sample | — | — | — | — | — |
| 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 |
Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | +0.119% | $1.3M | $694K | 10x | as long as short |
| Aster MUUSD1 | 0.0000% | 8h | 1,036.1 | +0.214% | $21.2M | $73.0M | 20x | as long as short |
| Binance MUUSDT | 0.0000% | 8h | 1,035.3 | +0.137% | $120.9M | $550.2M | 50x | as long as short |
| OKX MU-USDT-SWAP | 0.0000% | 8h | 1,035.3 | +0.133% | $29.4M | $106.5M | 50x | as long as short |
| Gate MU_USDT | 0.0000% | 8h | 1,035.1 | +0.112% | $61.6M | $28.0M | 75x | as long as short |
| Bitget MUUSDT | 0.0000% | 8h | 1,035.4 | +0.143% | $19.8M | $42.8M | 50x | as long as short |
| Variational Omni MU | 0.0000% | 8h | 1,035.2 | +0.129% | $2.6M | $2.6M | — | as long as short |
| StandX MU-USD | 0.0000% | 1h | 1,034.3 | +0.034% | $187K | $3.7M | 20x | as long as short |
| SunX MU-USDT | 0.0000% | 8h | 1,037.2 | +0.322% | $11K | $5.1M | 10x | as long as short |
| HTX MU-USDT | 0.0000% | 8h | 1,035.2 | +0.128% | $119K | $474K | 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 | +0.120% | $1.1M | $4.6M | 10x | as long as short |
| Aftermath Perps MUUSD | +0.0032% | 1h | 1,034.4 | +0.048% | $3K | $42K | 10x | as long as short |
| Injective MU/USDC PERP | +0.0033% | 1h | 1,051.4 | +1.689% | $19K | $5K | 12x | as long as short |
| Vest MU-USD-PERP | +0.0046% | 1h | 1,036 | +0.199% | — | $177K | 25x | as long as short |
| Deribit MU_USDC-PERPETUAL | +0.0050% | 1h | 1,034.8 | +0.085% | $39K | $709K | 10x | as long as short |
| Polymarket Perps MU-USD | +0.0050% | 1h | 1,035.2 | +0.126% | $167K | $178K | 10x | as long as short |
| SoDEX MU-USD | +0.0050% | 1h | 1,035.3 | +0.131% | $679K | $13K | 10x | as long as short |
| Ondo Perps MU-USD.Plong | +0.0050% | 1h | 1,033.9 | long leg | $1.9M | $3.2M | 10x | |
| Bybit MUUSDT | +0.0052% | 8h | 1,035.5 | +0.154% | $18.8M | $32.3M | 100x | as long as short |
| QFEX MU-USD | +0.0059% | 1h | 1,035.2 | +0.125% | $7.0M | $19.1M | 10x | as long as short |
| Paradex MU-USD-PERP | +0.0070% | 8h | 1,035.1 | +0.121% | $2K | — | 5x | as long as short |
| Aevo MU-PERP | +0.0080% | 1h | 1,034.9 | +0.094% | $32K | $1K | 10x | as long as short |
| Pacifica MU | +0.0100% | 1h | 1,035.3 | +0.133% | $146K | $223K | 10x | as long as short |
| KuCoin MUUSDTM | +0.0100% | 8h | 1,034.6 | +0.072% | $5.2M | $5.7M | 20x | as long as short |
| ApeX Omni MUUSDT | +0.0100% | 1h | 1,035.7 | +0.170% | $70K | $270K | 50x | as long as short |
| Orderly PERP_MU_USDC_mythos | +0.0100% | 8h | 1,035.3 | +0.133% | $823 | $799 | 20x | as long as short |
| RISEx MU/USDC | +0.0107% | 1h | 1,035.4 | +0.143% | $295K | $351K | 20x | as long as short |
| BloFin MU-USDT | +0.0120% | 8h | 1,035.4 | +0.149% | $1.4M | $2.5M | 20x | as long as short |
| Nado MU-PERP | +0.0125% | 1h | 1,034.7 | +0.079% | $270K | $839K | 10x | as long as short |
| Arcus MU-USD | +0.0139% | 1h | 1,034.9 | +0.099% | $90K | $148K | 10x | as long as short |
| Lighter MU | +0.0144% | 1h | 1,035.3 | +0.135% | $1.0M | $5.1M | 20x | as long as short |
| Coinbase International MU-PERP-INTX | +0.0152% | 1h | 1,033.5 | −0.039% | $732K | $1.1M | 10x | as long as short |
| tradeXYZ xyz:MU | +0.0182% | 1h | 1,035.1 | +0.116% | $175.7M | $75.1M | 10x | as long as short |
| GRVT MU_USDT_Perp | +0.0183% | 8h | 1,035.5 | +0.154% | $76K | $1.4M | 10x | as long as short |
| Bullet MU-USD | +0.0209% | 1h | 1,035.4 | +0.144% | $25K | $386K | 10x | as long as short |
| Extended MU_24_5-USD | +0.0304% | 1h | 1,034.3 | +0.042% | $549K | $1.1M | 10x | as long as short |
| Phoenix MUshort | +0.0310% | 1h | 1,035.5 | +0.155% | $530K | $269K | 15x |
Lighter RH MU
Aftermath Perps MUUSD
Injective MU/USDC PERP
Vest MU-USD-PERP
Deribit MU_USDC-PERPETUAL
Polymarket Perps MU-USD
SoDEX MU-USD
Bybit MUUSDT
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
Nado MU-PERP
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