Funding you earn now, next payment 00:00 UTC−0.0351%/8h= −38.4% APRnext payment −$0.44 per $10,000 · paid last 24h −0.075%
Price spread now: Lighter RH against Phoenix+0.035%7-day average −0.033% · you sell dearer than you buy
Net, funding: paid 7d − costs−$64as in the Funding arb table
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$270.272% of the position
Funding, last 7 days−0.367%−$37 on $10k
+Price spread, last 3 days (all we have)−0.025%−$2 · spread now +0.035%, 7d avg −0.033%
=Together, before fees−0.392%+ Points / potential airdropLighter RH: Points live · farm board−$39 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter RH is 0.068% dearer against Phoenix than usual: you sell high and buy low (spread +0.035% now, against its 7-day average of −0.033%): +$7 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 15 hours. At the pace of the last 7 days (−0.367% in total) that is about 31 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix MU | 1,050.3 | 0.0383 | pay 0.0048% / 1h | 45m 29s | $537K | $306K | 15x |
| Short | Lighter RH MU | 1,050.7 | 0.0032 | get 0.0004% / 1h | 45m 29s | $1.2M | $4.1M | 10x |
Phoenix MU
Lighter RH MUFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH 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
- −$73.62
- Price spread: +0.035% → −0.033%
- $6.79
- Slippage, 4 orders
- −$20.21
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$94.05
- Costs to cover
- 0.272%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 27 min ago; Lighter RH: live order book, 3 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, 27 min ago | 2.87 bp | 10.8 bp −$11 | 22.7 bp −$227 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 3 min ago | 1.19 bp | 2.4 bp −$2 | 4.7 bp −$47 | 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 | −0.0892% | 4h | 1,050.2 | −0.005% | $1.3M | $673K | 10x | as long as short |
| Gate MU_USDT | 0.0000% | 8h | 1,050.7 | +0.036% | $62.9M | $28.7M | 75x | as long as short |
| StandX MU-USD | 0.0000% | 1h | 1,050.9 | +0.054% | $190K | $3.3M | 20x | as long as short |
| SunX MU-USDT | 0.0000% | 8h | 1,052.8 | +0.233% | $11K | $6.3M | 10x | as long as short |
| HTX MU-USDT | 0.0000% | 8h | 1,051.2 | +0.086% | $129K | $426K | 50x | as long as short |
| Deribit MU_USDC-PERPETUAL | +0.0016% | 1h | 1,051 | +0.065% | $63K | $294K | 10x | as long as short |
| Aftermath Perps MUUSD | +0.0020% | 1h | 1,050.1 | −0.022% | $3K | $45K | 10x | as long as short |
| Lighter MU | +0.0032% | 1h | 1,050.8 | +0.043% | $1.1M | $4.7M | 20x | as long as short |
| Lighter RH MUshort | +0.0032% | 1h | 1,050.7 | +0.035% | $1.2M | $4.1M | 10x | |
| Injective MU/USDC PERP | +0.0033% | 1h | 1,051.4 | +0.101% | $19K | $5K | 12x | as long as short |
edgeX MUUSDC
Gate MU_USDT
StandX MU-USD
SunX MU-USDT
HTX MU-USDT
Deribit MU_USDC-PERPETUAL
Aftermath Perps MUUSD
Lighter MU
Injective MU/USDC PERPShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest MU-USD-PERP | +0.0046% | 1h | 1,051.7 | +0.131% | — | $195K | 25x | as long as short |
| Ondo Perps MU-USD.P | +0.0050% | 1h | 1,049.6 | −0.065% | $1.9M | $2.3M | 10x | as long as short |
| QFEX MU-USD | +0.0054% | 1h | 1,050.5 | +0.023% | $7.8M | $23.2M | 10x | as long as short |
| Nado MU-PERP | +0.0060% | 1h | 1,050.6 | +0.024% | $274K | $861K | 10x | as long as short |
| Bybit MUUSDT | +0.0091% | 8h | 1,050.9 | +0.055% | $19.2M | $32.6M | 100x | as long as short |
| OKX MU-USDT-SWAP | +0.0093% | 8h | 1,051 | +0.064% | $30.9M | $102.2M | 50x | as long as short |
| Pacifica MU | +0.0100% | 1h | 1,050.8 | +0.043% | $152K | $177K | 10x | as long as short |
| KuCoin MUUSDTM | +0.0100% | 8h | 1,050.4 | +0.008% | $5.3M | $3.6M | 20x | as long as short |
| Orderly PERP_MU_USDC_mythos | +0.0100% | 8h | 1,051.8 | +0.141% | $836 | $799 | 20x | as long as short |
| Paradex MU-USD-PERP | +0.0100% | 8h | 1,050.9 | +0.056% | $2K | — | 5x | as long as short |
| Aevo MU-PERP | +0.0136% | 1h | 1,051.2 | +0.085% | $32K | $1K | 10x | as long as short |
| Polymarket Perps MU-USD | +0.0174% | 1h | 1,050.5 | +0.019% | $170K | $202K | 10x | as long as short |
| Coinbase International MU-PERP-INTX | +0.0184% | 1h | 1,052.2 | +0.177% | $762K | $1.3M | 10x | as long as short |
| Variational Omni MU | +0.0192% | 8h | 1,051.7 | +0.136% | $2.7M | $2.4M | — | as long as short |
| Aster MUUSD1 | +0.0203% | 8h | 1,050.4 | +0.006% | $21.6M | $47.8M | 20x | as long as short |
| Binance MUUSDT | +0.0210% | 8h | 1,050.8 | +0.047% | $126.4M | $526.1M | 50x | as long as short |
| Arcus MU-USD | +0.0240% | 1h | 1,050.9 | +0.059% | $71K | $242K | 10x | as long as short |
| Bitget MUUSDT | +0.0276% | 8h | 1,050.8 | +0.050% | $20.6M | $41.7M | 50x | as long as short |
| RISEx MU/USDC | +0.0312% | 1h | 1,051 | +0.062% | $316K | $339K | 20x | as long as short |
| BloFin MU-USDT | +0.0326% | 8h | 1,053 | +0.255% | $1.5M | $2.1M | 20x | as long as short |
| Phoenix MUlong | +0.0383% | 1h | 1,050.3 | long leg | $537K | $306K | 15x | |
| ApeX Omni MUUSDT | +0.0397% | 1h | 1,052.9 | +0.249% | $71K | $267K | 50x | as long as short |
| Bullet MU-USD | +0.0425% | 1h | 1,051.8 | +0.138% | $26K | $394K | 10x | as long as short |
| tradeXYZ xyz:MU | +0.0441% | 1h | 1,050.4 | +0.010% | $178.2M | $101.6M | 10x | as long as short |
| SoDEX MU-USD | +0.0493% | 1h | 1,051.2 | +0.081% | $690K | $16K | 10x | as long as short |
| Extended MU_24_5-USD | +0.0496% | 1h | 1,049.8 | −0.043% | $558K | $1.1M | 10x | as long as short |
| GRVT MU_USDT_Perp | +0.0707% | 8h | 1,050.8 | +0.048% | $83K | $1.4M | 10x | as long as short |
Vest MU-USD-PERP
Ondo Perps MU-USD.P
QFEX MU-USD
Nado MU-PERP
Bybit MUUSDT
OKX MU-USDT-SWAP
Pacifica MU
KuCoin MUUSDTM
Orderly PERP_MU_USDC_mythos
Paradex MU-USD-PERP
Aevo MU-PERP
Polymarket Perps MU-USD
Coinbase International MU-PERP-INTX
Variational Omni MU
Aster MUUSD1
Binance MUUSDT
Arcus MU-USD
Bitget MUUSDT
RISEx MU/USDC
BloFin MU-USDT
ApeX Omni MUUSDT
Bullet MU-USD
tradeXYZ xyz:MU
SoDEX MU-USD
Extended MU_24_5-USD
GRVT MU_USDT_Perp