MU

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0172%/8h= −18.8% APRnext payment −$0.21 per $10,000 · paid last 24h −0.040%

Price spread now: tradeXYZ against Phoenix−0.019%7-day average −0.060% · you buy dearer than you sell

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$420.420% of the position

Long on Phoenix Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.210%−$21 on $10k

Price spread, last 4 days (all we have)−0.001%$0 · spread now −0.019%, 7d avg −0.060%

Together, before fees−0.211%+ Points / potential airdroptradeXYZ: Active · farm board−$21 on $10k · with fees, hour by hour

The price spread pays, funding is against you. tradeXYZ is 0.041% dearer against Phoenix than usual: you sell high and buy low (spread −0.019% now, against its 7-day average of −0.060%): +$4 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 19 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix MU	1,050.4	0.0229	pay 0.0029% / 1h	23m 34s	$537K	$271K	15x
Short	tradeXYZ xyz:MU	1,050.2	0.0057	get 0.0007% / 1h	23m 34s	$178.1M	$98.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.019%Rate

Funding earned: −$36.07
Price spread: −0.019% → −0.060%: $4.07
Slippage, 4 orders: −$17
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$74
Costs to cover: 0.420%
Break-even: never at this rate

Slippage from Phoenix: live order book, 39 min ago; tradeXYZ: 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, 39 min ago	2.85 bp	10.7 bp −$11	22.6 bp −$226	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 5 min ago	0.48 bp	9.8 bp −$10	10.7 bp −$107	15.2 bp −$1,521	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	−0.0738%	4h	1,050.1	−0.031%	$1.3M	$671K	10x	as long as short
Bybit MUUSDT	0.0000%	8h	1,050.7	+0.032%	$19.1M	$32.3M	100x	as long as short
RISEx MU/USDC	0.0000%	1h	1,050.7	+0.024%	$333K	$348K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,050.4	+0.003%	$62.0M	$27.5M	75x	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,050.2	−0.018%	$85K	$1.3M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,050.2	−0.022%	$190K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,052.4	+0.190%	$11K	$5.9M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,050.4	−0.002%	$67K	$377K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,050.4	+0.004%	$129K	$429K	50x	as long as short
OKX MU-USDT-SWAP	+0.0020%	8h	1,050.4	+0.002%	$31.0M	$99.7M	50x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps MUUSD	+0.0020%	1h	1,050	−0.037%	$3K	$45K	10x	as long as short
QFEX MU-USD	+0.0030%	1h	1,050.3	−0.010%	$7.2M	$18.1M	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,050.3	−0.007%	$1.2M	$4.3M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.091%	$19K	$5K	12x	as long as short
Extended MU_24_5-USD	+0.0040%	1h	1,049.8	−0.060%	$564K	$1.1M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,050.1	−0.026%	$71K	$235K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,051.3	+0.088%	—	$175K	25x	as long as short
Lighter MU	+0.0048%	1h	1,050.6	+0.018%	$1.1M	$5.0M	20x	as long as short
Nado MU-PERP	+0.0049%	1h	1,050.3	−0.013%	$282K	$847K	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,050.1	−0.029%	$170K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,050.5	+0.007%	$689K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,049.3	−0.108%	$1.9M	$2.3M	10x	as long as short
Paradex MU-USD-PERP	+0.0055%	8h	1,050.4	+0.004%	$2K	—	5x	as long as short
tradeXYZ xyz:MUshort	+0.0057%	1h	1,050.2	−0.019%	$178.1M	$98.9M	10x
Aster MUUSD1	+0.0059%	8h	1,050.4	+0.002%	$21.4M	$53.0M	20x	as long as short
Bullet MU-USD	+0.0065%	1h	1,050.7	+0.029%	$25K	$398K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0096%	1h	1,049.9	−0.044%	$756K	$1.2M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,050.5	+0.012%	$149K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,050.2	−0.016%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,050	−0.043%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050.4	−0.003%	$835	$799	20x	as long as short
Variational Omni MU	+0.0101%	8h	1,050.2	−0.022%	$2.7M	$2.4M	—	as long as short
Aevo MU-PERP	+0.0112%	1h	1,050.3	−0.006%	$32K	$1K	10x	as long as short
Bitget MUUSDT	+0.0114%	8h	1,050.5	+0.011%	$20.6M	$41.1M	50x	as long as short
Binance MUUSDT	+0.0125%	8h	1,050.4	+0.001%	$126.5M	$518.5M	50x	as long as short
Phoenix MUlong	+0.0229%	1h	1,050.4	long leg	$537K	$271K	15x
BloFin MU-USDT	+0.0248%	8h	1,050.3	−0.009%	$1.5M	$2.0M	20x	as long as short