Funding you earn now, next payment 08:00 UTC+0.0151%/8h= +16.6% APRnext payment +$0.19 per $10,000 · paid last 24h +0.046%
Price spread now: Phoenix against tradeXYZ+0.185%81s7-day average +0.060% · you sell dearer than you buy
Net, funding: paid 7d − costs−$21as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$410.410% of the position
Funding, last 7 days+0.203%+$20 on $10k
+Price spread, last 4 days (all we have)−0.165%−$16 · spread now +0.185%, 7d avg +0.060%
=Together, before fees+0.038%+ Points / potential airdroptradeXYZ: Active · farm board+$4 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Phoenix is 0.125% dearer against tradeXYZ than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.060%. The two prices were read 81 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 | tradeXYZ xyz:MU | 1,027.6 | 0.0080 | pay 0.0010% / 1h | 34m 00s | $173.7M | $79.7M | 10x |
| Short | Phoenix MU | 1,029.5 | 0.0231 | get 0.0029% / 1h | 34m 00s | $527K | $270K | 15x |
tradeXYZ xyz:MU
Phoenix MUFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against tradeXYZ. 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
- $31.8
- Price spread: +0.185% → +0.060%
- $12.52
- Slippage, 4 orders
- −$16.02
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $3.3
- Costs to cover
- 0.410%
- Break-even
- 6.3 days
Slippage from tradeXYZ: live order book, 5 min ago; Phoenix: live order book, 64 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 tradeXYZ live order book, 5 min ago | 0.49 bp | 9.9 bp −$10 | 11.6 bp −$116 | 16.9 bp −$1,686 | doesn't fit |
| Sell Phoenix live order book, 64 min ago | 2.89 bp | 10.8 bp −$11 | 23.4 bp −$234 | 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 | −0.0646% | 4h | 1,029.1 | +0.149% | $1.3M | $673K | 10x | as long as short |
| Bitget MUUSDT | −0.0053% | 8h | 1,028 | +0.036% | $19.8M | $40.4M | 50x | as long as short |
| Aster MUUSD1 | 0.0000% | 8h | 1,028.6 | +0.098% | $21.0M | $68.9M | 20x | as long as short |
| Binance MUUSDT | 0.0000% | 8h | 1,028 | +0.036% | $121.1M | $545.5M | 50x | as long as short |
| Bybit MUUSDT | 0.0000% | 8h | 1,028.3 | +0.067% | $18.6M | $32.3M | 100x | as long as short |
| OKX MU-USDT-SWAP | 0.0000% | 8h | 1,027.9 | +0.025% | $29.3M | $101.5M | 50x | as long as short |
| RISEx MU/USDC | 0.0000% | 1h | 1,027.6 | +0.003% | $309K | $374K | 20x | as long as short |
| Gate MU_USDT | 0.0000% | 8h | 1,027.8 | +0.022% | $61.9M | $28.0M | 75x | as long as short |
| Variational Omni MU | 0.0000% | 8h | 1,028.1 | +0.046% | $2.5M | $2.6M | — | as long as short |
| GRVT MU_USDT_Perp | 0.0000% | 8h | 1,029 | +0.132% | $72K | $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 | 1,028.5 | +0.086% | $186K | $3.6M | 20x | as long as short |
| SunX MU-USDT | 0.0000% | 8h | 1,028.4 | +0.078% | $11K | $5.4M | 10x | as long as short |
| HTX MU-USDT | 0.0000% | 8h | 1,028.1 | +0.050% | $120K | $489K | 50x | as long as short |
| Aftermath Perps MUUSD | +0.0026% | 1h | 1,028.5 | +0.086% | $3K | $43K | 10x | as long as short |
| QFEX MU-USD | +0.0027% | 1h | 1,027.6 | −0.002% | $6.9M | $18.9M | 10x | as long as short |
| Lighter RH MU | +0.0032% | 1h | 1,028.1 | +0.050% | $1.1M | $4.4M | 10x | as long as short |
| Extended MU_24_5-USD | +0.0032% | 1h | 1,027 | −0.058% | $540K | $1.1M | 10x | as long as short |
| Injective MU/USDC PERP | +0.0033% | 1h | 1,051.4 | +2.312% | $19K | $5K | 12x | as long as short |
| Arcus MU-USD | +0.0040% | 1h | 1,026.9 | −0.071% | $89K | $244K | 10x | as long as short |
| Vest MU-USD-PERP | +0.0046% | 1h | 1,027 | −0.057% | — | $177K | 25x | as long as short |
| Polymarket Perps MU-USD | +0.0050% | 1h | 1,026.6 | −0.097% | $166K | $177K | 10x | as long as short |
| SoDEX MU-USD | +0.0050% | 1h | 1,027.9 | +0.026% | $675K | $15K | 10x | as long as short |
| Ondo Perps MU-USD.P | +0.0050% | 1h | 1,028 | +0.041% | $1.9M | $2.9M | 10x | as long as short |
| Lighter MU | +0.0056% | 1h | 1,028.4 | +0.073% | $974K | $5.0M | 20x | as long as short |
| Paradex MU-USD-PERP | +0.0057% | 8h | 1,028 | +0.037% | $2K | — | 5x | as long as short |
| Nado MU-PERP | +0.0077% | 1h | 1,028.4 | +0.079% | $266K | $814K | 10x | as long as short |
| tradeXYZ xyz:MUlong | +0.0080% | 1h | 1,027.6 | long leg | $173.7M | $79.7M | 10x | |
| Aevo MU-PERP | +0.0080% | 1h | 1,027.3 | −0.029% | $32K | $1K | 10x | as long as short |
| Bullet MU-USD | +0.0095% | 1h | 1,027.4 | −0.015% | $25K | $388K | 10x | as long as short |
| Coinbase International MU-PERP-INTX | +0.0096% | 1h | 1,029.2 | +0.156% | $719K | $1.1M | 10x | as long as short |
| Pacifica MU | +0.0100% | 1h | 1,027.6 | 0.000% | $145K | $194K | 10x | as long as short |
| KuCoin MUUSDTM | +0.0100% | 8h | 1,028.1 | +0.052% | $5.1M | $4.5M | 20x | as long as short |
| ApeX Omni MUUSDT | +0.0100% | 1h | 1,028.9 | +0.123% | $70K | $270K | 50x | as long as short |
| Orderly PERP_MU_USDC_mythos | +0.0100% | 8h | 1,028 | +0.039% | $817 | $799 | 20x | as long as short |
| BloFin MU-USDT | +0.0120% | 8h | 1,028.5 | +0.086% | $1.5M | $2.2M | 20x | as long as short |
| Phoenix MUshort | +0.0231% | 1h | 1,029.5 | +0.185% | $527K | $270K | 15x | |
| Deribit MU_USDC-PERPETUAL | +0.0314% | 1h | 1,028.4 | +0.073% | $72K | $629K | 10x | as long as short |
StandX MU-USD
SunX MU-USDT
HTX MU-USDT
Aftermath Perps MUUSD
QFEX MU-USD
Lighter RH MU
Extended MU_24_5-USD
Injective MU/USDC PERP
Arcus MU-USD
Vest MU-USD-PERP
Polymarket Perps MU-USD
SoDEX MU-USD
Ondo Perps MU-USD.P
Lighter MU
Paradex MU-USD-PERP
Nado MU-PERP
Aevo MU-PERP
Bullet MU-USD
Coinbase International MU-PERP-INTX
Pacifica MU
KuCoin MUUSDTM
ApeX Omni MUUSDT
Orderly PERP_MU_USDC_mythos
BloFin MU-USDT
Deribit MU_USDC-PERPETUAL