MU

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0254%/8h= −27.9% APRnext payment −$0.32 per $10,000 · paid last 24h −0.073%

Price spread now: SoDEX against Phoenix−0.071%7-day average −0.027% · 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−$52as in the Price arb table

costs, in and out, $10k−$480.478% of the position

Long on Phoenix Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.013%−$1 on $10k

Price spread, last 3 days (all we have)+0.063%+$6 · spread now −0.071%, 7d avg −0.027%

Together, before fees+0.050%+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and SoDEX is 0.044% cheaper against Phoenix than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.027%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.013% in total (about -1.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.32 per $10,000. 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	1,049.2	0.0304	pay 0.0038% / 1h	37m 02s	$537K	$273K	15x
Short	SoDEX MU-USD	1,048.5	0.0050	get 0.0006% / 1h	37m 02s	$688K	$16K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Phoenix. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PhoenixbpFee SoDEXbpOrdersPrice spread, now −0.071%Rate

Funding earned: −$53.41
Price spread: −0.071% → −0.027%: −$4.41
Slippage, 4 orders: −$32.79
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$105.62
Costs to cover: 0.478%
Break-even: never at this rate

Slippage from Phoenix: live order book, 30 min ago; SoDEX: live order book, 32 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	3.80 bp	12.1 bp −$12	26.3 bp −$263	doesn't fit	doesn't fit
Sell SoDEX live order book, 32 min ago	0.05 bp	11.9 bp −$12	41.5 bp −$415	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	−0.0949%	4h	1,048.4	−0.072%	$1.3M	$671K	10x	as long as short
Nado MU-PERP	−0.0007%	1h	1,049	−0.019%	$274K	$858K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,048.5	−0.067%	$62.1M	$27.6M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,048.7	−0.044%	$190K	$3.4M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,048.9	−0.031%	$26K	$395K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,050.1	+0.085%	$11K	$6.0M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,048.2	−0.098%	$66K	$328K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,048.5	−0.070%	$129K	$429K	50x	as long as short
Bybit MUUSDT	+0.0003%	8h	1,048.9	−0.030%	$19.2M	$32.6M	100x	as long as short
Aftermath Perps MUUSD	+0.0021%	1h	1,048.9	−0.033%	$3K	$45K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MU	+0.0032%	1h	1,048.4	−0.074%	$1.1M	$4.8M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,048.4	−0.073%	$1.1M	$4.1M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,048.3	−0.083%	$567K	$1.2M	10x	as long as short
QFEX MU-USD	+0.0040%	1h	1,048.9	−0.030%	$7.5M	$20.1M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,048.8	−0.039%	$71K	$237K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,049.8	+0.061%	—	$176K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,048.4	−0.076%	$178.0M	$99.9M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,048.6	−0.057%	$170K	$203K	10x	as long as short
SoDEX MU-USDshort	+0.0050%	1h	1,048.5	−0.071%	$688K	$16K	10x
Ondo Perps MU-USD.P	+0.0050%	1h	1,047.9	−0.127%	$1.9M	$2.4M	10x	as long as short
Paradex MU-USD-PERP	+0.0068%	8h	1,049.3	+0.005%	$2K	—	5x	as long as short
OKX MU-USDT-SWAP	+0.0071%	8h	1,048.5	−0.065%	$30.8M	$100.6M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,048.9	−0.027%	$148K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,048.7	−0.049%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,048.6	−0.054%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,048.8	−0.042%	$834	$799	20x	as long as short
Injective MU/USDC PERP	+0.0107%	1h	1,051.4	+0.206%	$19K	$5K	12x	as long as short
Coinbase International MU-PERP-INTX	+0.0128%	1h	1,048.1	−0.107%	$759K	$1.2M	10x	as long as short
Aevo MU-PERP	+0.0136%	1h	1,048.4	−0.079%	$32K	$1K	10x	as long as short
GRVT MU_USDT_Perp	+0.0158%	8h	1,049	−0.022%	$81K	$1.3M	10x	as long as short
Aster MUUSD1	+0.0207%	8h	1,048.9	−0.031%	$21.6M	$50.1M	20x	as long as short
Variational Omni MU	+0.0219%	8h	1,049	−0.015%	$2.7M	$2.4M	—	as long as short
Binance MUUSDT	+0.0223%	8h	1,048.7	−0.048%	$126.8M	$524.7M	50x	as long as short
Bitget MUUSDT	+0.0285%	8h	1,048.8	−0.041%	$20.3M	$41.9M	50x	as long as short
Phoenix MUlong	+0.0304%	1h	1,049.2	long leg	$537K	$273K	15x
BloFin MU-USDT	+0.0368%	8h	1,049.8	+0.058%	$1.5M	$2.0M	20x	as long as short
RISEx MU/USDC	+0.0507%	1h	1,049.2	−0.003%	$333K	$348K	20x	as long as short