MU

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0351%/8h= +38.4% APRnext payment +$0.44 per $10,000 · paid last 24h +0.075%

Price spread now: Phoenix against Lighter RH−0.012%7-day average +0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs+$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$270.266% of the position

Long on Lighter RH Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.367%+$37 on $10k

Price spread, last 3 days (all we have)+0.002%$0 · spread now −0.012%, 7d avg +0.033%

Together, before fees+0.369%+ Points / potential airdropLighter RH: Points live · farm board+$37 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.045% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.012% now, against its 7-day average of +0.033%). If the spread goes back, that is −$4 on $10k: about 10 hours of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.367% in total) that is about 21 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH MU	1,051	0.0032	pay 0.0004% / 1h	22m 27s	$1.2M	$4.1M	10x
Short	Phoenix MU	1,050.9	0.0383	get 0.0048% / 1h	22m 27s	$538K	$306K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Lighter RH. 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 Lighter RHbpFee PhoenixbpOrdersPrice spread, now −0.012%Rate

Funding earned: $73.62
Price spread: −0.012% → +0.033%: −$4.5
Slippage, 4 orders: −$19.6
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $42.52
Costs to cover: 0.266%
Break-even: 3.0 days

Slippage from Lighter RH: live order book, 6 min ago; Phoenix: live order book, 50 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 Lighter RH live order book, 6 min ago	2.47 bp	2.5 bp −$3	4.1 bp −$41	doesn't fit	doesn't fit
Sell Phoenix live order book, 50 min ago	2.87 bp	10.8 bp −$11	22.7 bp −$227	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	−0.0040%	4h	1,051.4	+0.035%	$1.3M	$672K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,051.1	+0.007%	$62.8M	$28.9M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,049.6	−0.134%	$190K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,052.1	+0.104%	$11K	$6.2M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,050.4	−0.059%	$129K	$424K	50x	as long as short
Aftermath Perps MUUSD	+0.0022%	1h	1,050.5	−0.052%	$3K	$45K	10x	as long as short
Lighter RH MUlong	+0.0032%	1h	1,051	long leg	$1.2M	$4.1M	10x
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.031%	$19K	$5K	12x	as long as short
Lighter MU	+0.0040%	1h	1,051.4	+0.031%	$1.1M	$4.8M	20x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,051.9	+0.083%	—	$179K	25x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps MU-USD	+0.0050%	1h	1,051	−0.003%	$171K	$203K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,050.3	−0.067%	$1.9M	$2.3M	10x	as long as short
QFEX MU-USD	+0.0054%	1h	1,051.2	+0.019%	$7.7M	$21.9M	10x	as long as short
Nado MU-PERP	+0.0086%	1h	1,050.8	−0.020%	$274K	$858K	10x	as long as short
Paradex MU-USD-PERP	+0.0092%	8h	1,051.4	+0.032%	$2K	—	5x	as long as short
Pacifica MU	+0.0100%	1h	1,050.9	−0.015%	$148K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,050.6	−0.040%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,052	+0.088%	$71K	$267K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050.9	−0.011%	$835	$799	20x	as long as short
OKX MU-USDT-SWAP	+0.0105%	8h	1,051.2	+0.014%	$30.9M	$101.8M	50x	as long as short
SoDEX MU-USD	+0.0106%	1h	1,050.7	−0.033%	$690K	$16K	10x	as long as short
Aevo MU-PERP	+0.0136%	1h	1,050.6	−0.041%	$32K	$1K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0184%	1h	1,048.4	−0.254%	$759K	$1.2M	10x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0188%	1h	1,050.8	−0.019%	$64K	$305K	10x	as long as short
Bybit MUUSDT	+0.0208%	8h	1,051.5	+0.042%	$19.5M	$32.7M	100x	as long as short
Bullet MU-USD	+0.0214%	1h	1,051.3	+0.026%	$25K	$395K	10x	as long as short
Variational Omni MU	+0.0224%	8h	1,051.7	+0.059%	$2.7M	$2.4M	—	as long as short
Aster MUUSD1	+0.0238%	8h	1,050.6	−0.044%	$21.6M	$48.3M	20x	as long as short
Binance MUUSDT	+0.0238%	8h	1,051.2	+0.015%	$126.1M	$522.2M	50x	as long as short
Arcus MU-USD	+0.0240%	1h	1,050.8	−0.024%	$71K	$243K	10x	as long as short
tradeXYZ xyz:MU	+0.0242%	1h	1,050.8	−0.022%	$178.4M	$100.3M	10x	as long as short
RISEx MU/USDC	+0.0312%	1h	1,051.3	+0.023%	$316K	$339K	20x	as long as short
BloFin MU-USDT	+0.0356%	8h	1,051.1	+0.007%	$1.5M	$2.0M	20x	as long as short
Bitget MUUSDT	+0.0381%	8h	1,051.4	+0.033%	$20.6M	$41.6M	50x	as long as short
Phoenix MUshort	+0.0383%	1h	1,050.9	−0.012%	$538K	$306K	15x
Extended MU_24_5-USD	+0.0384%	1h	1,050.7	−0.033%	$566K	$1.2M	10x	as long as short
GRVT MU_USDT_Perp	+0.0550%	8h	1,051.5	+0.045%	$83K	$1.3M	10x	as long as short