Funding you earn now, next payment 07:00 UTC−0.0211%/8h= −23.1% APRnext payment −$0.26 per $10,000 · paid last 24h −0.072%
Price spread now: QFEX against Phoenix−0.027%52s7-day average −0.025% · you buy dearer than you sell
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−$390.386% of the position
Funding, last 4 days (all we have)−0.081%−$8 on $10k
+Price spread, last 4 days (all we have)+0.056%+$6 · spread now −0.027%, 7d avg −0.025%
=The price spread sits at its 7-day average of −0.025%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate. The two prices were read 52 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 | Phoenix MU | 1,038.3 | 0.0232 | pay 0.0029% / 1h | 34m 39s | $531K | $270K | 15x |
| Short | QFEX MU-USD | 1,038 | 0.0021 | get 0.0003% / 1h | 34m 39s | $7.0M | $18.8M | 10x |
Phoenix MU
QFEX MU-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX 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
- −$44.24
- Price spread: −0.027% → −0.025%
- −$0.19
- Slippage, 4 orders
- −$21.6
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$83.02
- Costs to cover
- 0.386%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 68 min ago; QFEX: live order book, 5 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, 68 min ago | 3.86 bp | 13.1 bp −$13 | 29.1 bp −$291 | doesn't fit | doesn't fit |
| Sell QFEX live order book, 5 min ago | 0.82 bp | 5.8 bp −$6 | 5.8 bp −$58 | 11.3 bp −$1,126 | 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 | −0.0248% | 4h | 1,037.9 | −0.034% | $1.3M | $673K | 10x | as long as short |
| Bitget MUUSDT | −0.0178% | 8h | 1,038.3 | 0.000% | $20.2M | $40.0M | 50x | as long as short |
| Aster MUUSD1 | 0.0000% | 8h | 1,038.5 | +0.020% | $21.2M | $65.5M | 20x | as long as short |
| Binance MUUSDT | 0.0000% | 8h | 1,038.3 | +0.004% | $122.1M | $538.6M | 50x | as long as short |
| Bybit MUUSDT | 0.0000% | 8h | 1,038.1 | −0.023% | $18.8M | $32.3M | 100x | as long as short |
| OKX MU-USDT-SWAP | 0.0000% | 8h | 1,037.9 | −0.035% | $29.8M | $100.1M | 50x | as long as short |
| RISEx MU/USDC | 0.0000% | 1h | 1,038.4 | +0.008% | $313K | $385K | 20x | as long as short |
| Gate MU_USDT | 0.0000% | 8h | 1,038 | −0.033% | $61.5M | $28.3M | 75x | as long as short |
| Variational Omni MU | 0.0000% | 8h | 1,037.7 | −0.058% | $2.5M | $2.6M | — | as long as short |
| GRVT MU_USDT_Perp | 0.0000% | 8h | 1,038 | −0.028% | $71K | $1.4M | 10x | as long as short |
edgeX MUUSDC
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 | 1,038.1 | −0.017% | $188K | $3.5M | 20x | as long as short |
| SunX MU-USDT | 0.0000% | 8h | 1,039.4 | +0.102% | $11K | $5.6M | 10x | as long as short |
| Deribit MU_USDC-PERPETUAL | 0.0000% | 1h | 1,037.3 | −0.093% | $74K | $608K | 10x | as long as short |
| HTX MU-USDT | 0.0000% | 8h | 1,037.5 | −0.082% | $127K | $480K | 50x | as long as short |
| Bullet MU-USD | +0.0013% | 1h | 1,037.7 | −0.056% | $25K | $390K | 10x | as long as short |
| Aftermath Perps MUUSD | +0.0017% | 1h | 1,037.8 | −0.044% | $3K | $44K | 10x | as long as short |
| Nado MU-PERP | +0.0019% | 1h | 1,037.4 | −0.087% | $279K | $808K | 10x | as long as short |
| QFEX MU-USDshort | +0.0021% | 1h | 1,038 | −0.027% | $7.0M | $18.8M | 10x | |
| Lighter RH MU | +0.0032% | 1h | 1,038.1 | −0.023% | $1.1M | $4.4M | 10x | as long as short |
| Extended MU_24_5-USD | +0.0032% | 1h | 1,037.6 | −0.069% | $545K | $1.1M | 10x | as long as short |
| Injective MU/USDC PERP | +0.0033% | 1h | 1,051.4 | +1.258% | $19K | $5K | 12x | as long as short |
| Lighter MU | +0.0040% | 1h | 1,038.2 | −0.011% | $1.0M | $4.9M | 20x | as long as short |
| Arcus MU-USD | +0.0040% | 1h | 1,037.5 | −0.081% | $90K | $245K | 10x | as long as short |
| Vest MU-USD-PERP | +0.0046% | 1h | 1,037.9 | −0.035% | — | $175K | 25x | as long as short |
| tradeXYZ xyz:MU | +0.0050% | 1h | 1,037.9 | −0.039% | $176.4M | $82.7M | 10x | as long as short |
| Polymarket Perps MU-USD | +0.0050% | 1h | 1,037.4 | −0.087% | $168K | $195K | 10x | as long as short |
| SoDEX MU-USD | +0.0050% | 1h | 1,037.9 | −0.037% | $681K | $15K | 10x | as long as short |
| Ondo Perps MU-USD.P | +0.0050% | 1h | 1,037.5 | −0.080% | $1.8M | $2.7M | 10x | as long as short |
| Paradex MU-USD-PERP | +0.0051% | 8h | 1,038.1 | −0.021% | $2K | — | 5x | as long as short |
| Aevo MU-PERP | +0.0080% | 1h | 1,037.3 | −0.094% | $32K | $1K | 10x | as long as short |
| Coinbase International MU-PERP-INTX | +0.0080% | 1h | 1,037.4 | −0.083% | $725K | $1.2M | 10x | as long as short |
| Pacifica MU | +0.0100% | 1h | 1,038 | −0.028% | $147K | $188K | 10x | as long as short |
| KuCoin MUUSDTM | +0.0100% | 8h | 1,037.9 | −0.039% | $5.2M | $3.9M | 20x | as long as short |
| ApeX Omni MUUSDT | +0.0100% | 1h | 1,037.9 | −0.041% | $70K | $270K | 50x | as long as short |
| Orderly PERP_MU_USDC_mythos | +0.0100% | 8h | 1,037.6 | −0.068% | $825 | $799 | 20x | as long as short |
| BloFin MU-USDT | +0.0120% | 8h | 1,038.3 | 0.000% | $1.4M | $2.1M | 20x | as long as short |
| Phoenix MUlong | +0.0232% | 1h | 1,038.3 | long leg | $531K | $270K | 15x |
StandX MU-USD
SunX MU-USDT
Deribit MU_USDC-PERPETUAL
HTX MU-USDT
Bullet MU-USD
Aftermath Perps MUUSD
Nado MU-PERP
Lighter RH MU
Extended MU_24_5-USD
Injective MU/USDC PERP
Lighter MU
Arcus MU-USD
Vest MU-USD-PERP
tradeXYZ xyz:MU
Polymarket Perps MU-USD
SoDEX MU-USD
Ondo Perps MU-USD.P
Paradex MU-USD-PERP
Aevo MU-PERP
Coinbase International MU-PERP-INTX
Pacifica MU
KuCoin MUUSDTM
ApeX Omni MUUSDT
Orderly PERP_MU_USDC_mythos
BloFin MU-USDT