MU

Alert: funding

Alert: spread

Funding you earn now, next payment 19:00 UTC+0.0185%/8hnext payment +$0.23 per $10,000 · paid last 24h 0.000%

Price spread now: Phoenix against Coinbase International+0.143%72s7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as 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−$350.350% of the position

Long on Coinbase International Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.058%+$6 on $10k

Price spread, last 3 days (all we have)−0.133%−$13 · spread now +0.143%, 7d avg +0.045%

Together, before fees−0.075%−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Phoenix is 0.097% dearer against Coinbase International than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.045%. The two prices were read 72 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.058% in total (about 3.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.23 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	Coinbase International MU-PERP-INTX	1,045.2	0.0120	pay 0.0015% / 1h	3m 52s	$758K	$1.8M	10x
Short	Phoenix MU	1,046.7	0.0305	get 0.0038% / 1h	3m 52s	$535K	$219K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Coinbase International. 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 Coinbase InternationalbpFee PhoenixbpOrdersPrice spread, now +0.143%Rate

Funding earned: $38.84
Price spread: +0.143% → +0.045%: $9.71
Slippage, 4 orders: −$18.05
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $13.51
Costs to cover: 0.350%
Break-even: 4.6 days

Slippage from Coinbase International: live order book, 4 min ago; Phoenix: live order book, 28 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 Coinbase International live order book, 4 min ago	3.59 bp	8.6 bp −$9	13.1 bp −$131	42.4 bp −$4,245	doesn't fit
Sell Phoenix live order book, 28 min ago	1.91 bp	8.9 bp −$9	18.9 bp −$189	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	−0.0407%	4h	1,047.8	+0.248%	$1.3M	$673K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,046	+0.076%	$21.5M	$27.6M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,046.3	+0.105%	$125.7M	$529.3M	50x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,047	+0.174%	$31.0M	$103.2M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,044.4	−0.077%	$287K	$334K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,045.6	+0.033%	$63.4M	$28.3M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,046.4	+0.110%	$2.7M	$2.7M	—	as long as short
StandX MU-USD	0.0000%	1h	1,045.7	+0.043%	$189K	$3.2M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,047.4	+0.212%	$11K	$6.7M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,045.3	+0.008%	$125K	$441K	50x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MU_USDT_Perp	+0.0010%	8h	1,046.7	+0.142%	$82K	$1.3M	10x	as long as short
Bybit MUUSDT	+0.0015%	8h	1,046.2	+0.098%	$19.0M	$31.7M	100x	as long as short
Bitget MUUSDT	+0.0024%	8h	1,046.9	+0.165%	$20.6M	$42.3M	50x	as long as short
Lighter RH MU	+0.0032%	1h	1,045.9	+0.067%	$1.1M	$4.3M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.526%	$14K	$302	12x	as long as short
Arcus MU-USD	+0.0041%	1h	1,044	−0.121%	$63K	$236K	10x	as long as short
QFEX MU-USD	+0.0045%	1h	1,044.5	−0.071%	$7.8M	$23.7M	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,045	−0.023%	—	$190K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,044	−0.116%	$165K	$177K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,045.9	+0.063%	$686K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,044.1	−0.106%	$1.9M	$2.6M	10x	as long as short
Paradex MU-USD-PERP	+0.0057%	8h	1,045	−0.022%	$2K	—	5x	as long as short
Lighter MU	+0.0080%	1h	1,046.3	+0.107%	$972K	$4.8M	20x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,044.7	−0.051%	$33K	—	10x	as long as short
Bullet MU-USD	+0.0084%	1h	1,045	−0.020%	$25K	$397K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,044.5	−0.068%	$153K	$181K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,045.9	+0.062%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,046.3	+0.102%	$71K	$267K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,044.9	−0.029%	$831	$799	20x	as long as short
tradeXYZ xyz:MU	+0.0102%	1h	1,046.8	+0.152%	$178.8M	$99.4M	10x	as long as short
Coinbase International MU-PERP-INTXlong	+0.0120%	1h	1,045.2	long leg	$758K	$1.8M	10x
BloFin MU-USDT	+0.0120%	8h	1,046.2	+0.091%	$1.5M	$2.0M	20x	as long as short
Extended MU_24_5-USD	+0.0128%	1h	1,045.5	+0.031%	$526K	$1.0M	10x	as long as short
Nado MU-PERP	+0.0132%	1h	1,043	−0.213%	$333K	$809K	10x	as long as short
Aftermath Perps MUUSD	+0.0171%	1h	1,046.2	+0.098%	$3K	$44K	10x	as long as short
Phoenix MUshort	+0.0305%	1h	1,046.7	+0.143%	$535K	$219K	15x
Deribit MU_USDC-PERPETUAL	+0.0372%	1h	1,045.7	+0.049%	$54K	$154K	10x	as long as short