Funding you earn now, next payment 07:00 UTC−0.0995%/8h= −109.0% APRpaid last 24h −0.072%
Price spread now: edgeX against Phoenix−0.106%7-day average −0.020% · you buy dearer than you sell
Net, funding: paid 7d − costs+$12as in the Funding arb table
Net, price: spread back to 7d avg − costs−$40as in the Price arb table
costs, in and out, $10k−$320.315% of the position
Funding, last 7 days+0.435%+$44 on $10k
+Price spread, last 4 days (all we have)+0.106%+$11 · spread now −0.106%, 7d avg −0.020%
=Together, before fees+0.542%+ Points / potential airdropedgeX: Active · farm board+$54 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$30 a day on $10k at the current rate, and edgeX is 0.086% cheaper against Phoenix than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.020%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.435%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.435% in total (about 22.7% a year). A funding rate is set anew for every payment. 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 | Phoenix MU | 1,038.9 | 0.0232 | pay 0.0029% / 1h | 7m 43s | $531K | $270K | 15x |
| Short | edgeX MUUSDC | 1,037.8 | −0.0764 | pay 0.0382% / 4h | 7m 43s | $1.3M | $672K | 10x |
Phoenix MU
edgeX MUUSDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
edgeX against Phoenix. 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
- −$209.01
- Price spread: −0.106% → −0.020%
- −$8.58
- Slippage, 4 orders
- −$15.53
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Net
- −$249.12
- Costs to cover
- 0.315%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 30 min ago; edgeX: live order book, 1 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 Phoenix live order book, 30 min ago | 2.89 bp | 10.8 bp −$11 | 23.4 bp −$234 | doesn't fit | doesn't fit |
| Sell edgeX live order book, 1 min ago | 0.34 bp | 4.9 bp −$5 | 6.7 bp −$67 | 29.3 bp −$2,927 | 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 MUUSDCshort | −0.0764% | 4h | 1,037.8 | −0.106% | $1.3M | $672K | 10x | |
| Bitget MUUSDT | −0.0143% | 8h | 1,038.5 | −0.041% | $20.2M | $39.9M | 50x | as long as short |
| Aster MUUSD1 | 0.0000% | 8h | 1,038.4 | −0.047% | $21.2M | $67.3M | 20x | as long as short |
| Binance MUUSDT | 0.0000% | 8h | 1,038.2 | −0.065% | $122.5M | $536.9M | 50x | as long as short |
| Bybit MUUSDT | 0.0000% | 8h | 1,038.3 | −0.060% | $18.8M | $32.2M | 100x | as long as short |
| OKX MU-USDT-SWAP | 0.0000% | 8h | 1,038.1 | −0.076% | $29.8M | $100.1M | 50x | as long as short |
| RISEx MU/USDC | 0.0000% | 1h | 1,038.3 | −0.055% | $313K | $384K | 20x | as long as short |
| Gate MU_USDT | 0.0000% | 8h | 1,038.1 | −0.079% | $61.5M | $28.4M | 75x | as long as short |
| Variational Omni MU | 0.0000% | 8h | 1,037.8 | −0.110% | $2.5M | $2.6M | — | as long as short |
| GRVT MU_USDT_Perp | 0.0000% | 8h | 1,037.9 | −0.094% | $71K | $1.4M | 10x | as long as short |
Bitget MUUSDT
Aster MUUSD1
Binance MUUSDT
Bybit MUUSDT
OKX MU-USDT-SWAP
RISEx MU/USDC
Gate MU_USDT
Variational Omni MU
GRVT MU_USDT_PerpShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| StandX MU-USD | 0.0000% | 1h | 1,038.4 | −0.051% | $188K | $3.5M | 20x | as long as short |
| SunX MU-USDT | 0.0000% | 8h | 1,039.6 | +0.066% | $11K | $5.5M | 10x | as long as short |
| HTX MU-USDT | 0.0000% | 8h | 1,038.3 | −0.058% | $126K | $481K | 50x | as long as short |
| Bullet MU-USD | +0.0007% | 1h | 1,038.1 | −0.075% | $25K | $388K | 10x | as long as short |
| Deribit MU_USDC-PERPETUAL | +0.0010% | 1h | 1,038 | −0.085% | $74K | $619K | 10x | as long as short |
| Nado MU-PERP | +0.0015% | 1h | 1,037.8 | −0.108% | $280K | $804K | 10x | as long as short |
| Aftermath Perps MUUSD | +0.0019% | 1h | 1,038.2 | −0.065% | $3K | $44K | 10x | as long as short |
| QFEX MU-USD | +0.0021% | 1h | 1,038.3 | −0.058% | $7.0M | $18.7M | 10x | as long as short |
| Lighter MU | +0.0032% | 1h | 1,038.2 | −0.071% | $1.0M | $4.9M | 20x | as long as short |
| Lighter RH MU | +0.0032% | 1h | 1,038.1 | −0.082% | $1.1M | $4.5M | 10x | as long as short |
| Extended MU_24_5-USD | +0.0032% | 1h | 1,037.9 | −0.096% | $545K | $1.1M | 10x | as long as short |
| Injective MU/USDC PERP | +0.0033% | 1h | 1,051.4 | +1.199% | $19K | $5K | 12x | as long as short |
| Arcus MU-USD | +0.0040% | 1h | 1,037.8 | −0.107% | $90K | $244K | 10x | as long as short |
| Vest MU-USD-PERP | +0.0046% | 1h | 1,038.5 | −0.041% | — | $175K | 25x | as long as short |
| tradeXYZ xyz:MU | +0.0050% | 1h | 1,038 | −0.087% | $176.3M | $80.2M | 10x | as long as short |
| Polymarket Perps MU-USD | +0.0050% | 1h | 1,038 | −0.087% | $168K | $177K | 10x | as long as short |
| SoDEX MU-USD | +0.0050% | 1h | 1,038.1 | −0.077% | $681K | $15K | 10x | as long as short |
| Paradex MU-USD-PERP | +0.0050% | 8h | 1,038.1 | −0.082% | $2K | — | 5x | as long as short |
| Ondo Perps MU-USD.P | +0.0050% | 1h | 1,037.8 | −0.103% | $1.8M | $2.7M | 10x | as long as short |
| Aevo MU-PERP | +0.0080% | 1h | 1,037.8 | −0.102% | $32K | $1K | 10x | as long as short |
| Coinbase International MU-PERP-INTX | +0.0080% | 1h | 1,038.3 | −0.054% | $726K | $1.2M | 10x | as long as short |
| Pacifica MU | +0.0100% | 1h | 1,037.8 | −0.110% | $144K | $191K | 10x | as long as short |
| KuCoin MUUSDTM | +0.0100% | 8h | 1,037.9 | −0.097% | $5.2M | $4.1M | 20x | as long as short |
| ApeX Omni MUUSDT | +0.0100% | 1h | 1,038 | −0.089% | $70K | $269K | 50x | as long as short |
| Orderly PERP_MU_USDC_mythos | +0.0100% | 8h | 1,038.1 | −0.076% | $825 | $799 | 20x | as long as short |
| BloFin MU-USDT | +0.0120% | 8h | 1,038.5 | −0.036% | $1.5M | $2.1M | 20x | as long as short |
| Phoenix MUlong | +0.0232% | 1h | 1,038.9 | long leg | $531K | $270K | 15x |
StandX MU-USD
SunX MU-USDT
HTX MU-USDT
Bullet MU-USD
Deribit MU_USDC-PERPETUAL
Nado MU-PERP
Aftermath Perps MUUSD
QFEX MU-USD
Lighter MU
Lighter RH MU
Extended MU_24_5-USD
Injective MU/USDC PERP
Arcus MU-USD
Vest MU-USD-PERP
tradeXYZ xyz:MU
Polymarket Perps MU-USD
SoDEX MU-USD
Paradex MU-USD-PERP
Ondo Perps MU-USD.P
Aevo MU-PERP
Coinbase International MU-PERP-INTX
Pacifica MU
KuCoin MUUSDTM
ApeX Omni MUUSDT
Orderly PERP_MU_USDC_mythos
BloFin MU-USDT