MU

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0050%/8h= −5.5% APRnext payment −$0.06 per $10,000 · paid last 24h +0.026%

Price spread now: Deribit against Ondo Perps+0.055%7-day average +0.087% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Ondo Perps Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.030%+$3 on $10k

Price spread, last 3 days (all we have)−0.009%−$1 · spread now +0.055%, 7d avg +0.087%

Together, before fees+0.021%+ Points / potential airdropOndo Perps: Active · farm board+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Deribit is 0.032% cheaper against Ondo Perps than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.087%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps MU-USD.P	1,048.4	0.0050	pay 0.0006% / 1h	36m 14s	$1.9M	$2.4M	10x
Short	Deribit MU_USDC-PERPETUAL	1,049	0	get 0.0000% / 1h	36m 14s	$66K	$329K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Ondo Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpFee DeribitbpOrdersPrice spread, now +0.055%Rate

Funding earned: −$10.58
Price spread: +0.055% → +0.087%: −$3.17
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$25.75
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Deribit: live order book, 32 min ago. Net counts fees only.

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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Deribit live order book, 32 min ago	3.09 bp	14.5 bp −$15	19.9 bp −$199	doesn't fit	doesn't fit

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	+0.004%	$1.3M	$671K	10x	as long as short
Nado MU-PERP	−0.0007%	1h	1,048.4	−0.002%	$274K	$858K	10x	as long as short
Bybit MUUSDT	0.0000%	8h	1,049.6	+0.113%	$19.2M	$32.6M	100x	as long as short
Gate MU_USDT	0.0000%	8h	1,049	+0.057%	$62.1M	$27.6M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,048.7	+0.032%	$190K	$3.4M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,049.2	+0.078%	$26K	$395K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,050.2	+0.172%	$11K	$6.0M	10x	as long as short
Deribit MU_USDC-PERPETUALshort	0.0000%	1h	1,049	+0.055%	$66K	$329K	10x
HTX MU-USDT	0.0000%	8h	1,049.1	+0.064%	$129K	$430K	50x	as long as short
Aftermath Perps MUUSD	+0.0021%	1h	1,048.6	+0.018%	$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	1,049.2	+0.072%	$1.1M	$4.8M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,049.2	+0.072%	$1.1M	$4.1M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,048.6	+0.019%	$567K	$1.2M	10x	as long as short
QFEX MU-USD	+0.0040%	1h	1,048.6	+0.014%	$7.5M	$20.1M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,048.7	+0.030%	$71K	$237K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,049.8	+0.135%	—	$176K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,049.1	+0.067%	$178.1M	$99.9M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,048.9	+0.048%	$170K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,048.9	+0.048%	$688K	$16K	10x	as long as short
Ondo Perps MU-USD.Plong	+0.0050%	1h	1,048.4	long leg	$1.9M	$2.4M	10x
Paradex MU-USD-PERP	+0.0068%	8h	1,048.7	+0.028%	$2K	—	5x	as long as short
OKX MU-USDT-SWAP	+0.0070%	8h	1,049.3	+0.081%	$30.8M	$100.7M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,048.5	+0.010%	$148K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,048.9	+0.047%	$5.2M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,048.6	+0.022%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,049	+0.055%	$834	$799	20x	as long as short
Injective MU/USDC PERP	+0.0107%	1h	1,051.4	+0.282%	$19K	$5K	12x	as long as short
Coinbase International MU-PERP-INTX	+0.0128%	1h	1,048.1	−0.031%	$759K	$1.2M	10x	as long as short
Aevo MU-PERP	+0.0136%	1h	1,048.9	+0.047%	$32K	$1K	10x	as long as short
GRVT MU_USDT_Perp	+0.0158%	8h	1,049	+0.054%	$81K	$1.3M	10x	as long as short
Aster MUUSD1	+0.0203%	8h	1,049.3	+0.086%	$21.6M	$50.1M	20x	as long as short
Variational Omni MU	+0.0204%	8h	1,049.1	+0.066%	$2.7M	$2.4M	—	as long as short
Binance MUUSDT	+0.0221%	8h	1,049.2	+0.079%	$126.9M	$524.9M	50x	as long as short
Bitget MUUSDT	+0.0278%	8h	1,049.2	+0.074%	$20.3M	$41.9M	50x	as long as short
Phoenix MU	+0.0304%	1h	1,049.2	+0.076%	$537K	$273K	15x	as long as short
BloFin MU-USDT	+0.0368%	8h	1,049.8	+0.134%	$1.5M	$2.0M	20x	as long as short
RISEx MU/USDC	+0.0507%	1h	1,049.1	+0.063%	$333K	$348K	20x	as long as short