MU

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0204%/8h= −22.4% APRnext payment −$0.26 per $10,000 · paid last 24h −0.058%

Price spread now: ApeX Omni against Phoenix−0.054%7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$570.572% of the position

Long on Phoenix Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.233%−$23 on $10k

Price spread, last 4 days (all we have)+0.006%+$1 · spread now −0.054%, 7d avg −0.009%

Together, before fees−0.228%−$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and ApeX Omni is 0.045% cheaper against Phoenix than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.009%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix MU	1,049.2	0.0304	pay 0.0038% / 1h	36m 05s	$537K	$273K	15x
Short	ApeX Omni MUUSDT	1,048.6	0.0100	get 0.0013% / 1h	36m 05s	$71K	$268K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni 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 ApeX OmnibpOrdersPrice spread, now −0.054%Rate

Funding earned: −$42.91
Price spread: −0.054% → −0.009%: −$4.54
Slippage, 4 orders: −$40.16
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$104.61
Costs to cover: 0.572%
Break-even: never at this rate

Slippage from Phoenix: live order book, 31 min ago; ApeX Omni: live order book, 31 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, 31 min ago	3.80 bp	12.1 bp −$12	26.3 bp −$263	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 31 min ago	5.61 bp	17.0 bp −$17	194.7 bp −$1,947	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	−0.0949%	4h	1,048.4	−0.072%	$1.3M	$671K	10x	as long as short
Nado MU-PERP	−0.0007%	1h	1,048.4	−0.078%	$274K	$858K	10x	as long as short
Bybit MUUSDT	0.0000%	8h	1,049.5	+0.032%	$19.2M	$32.6M	100x	as long as short
Gate MU_USDT	0.0000%	8h	1,049.1	−0.007%	$62.1M	$27.6M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,048.7	−0.044%	$190K	$3.4M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,049.2	+0.002%	$26K	$395K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,050.2	+0.095%	$11K	$6.0M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,049	−0.021%	$66K	$329K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,049.1	−0.012%	$129K	$430K	50x	as long as short
Aftermath Perps MUUSD	+0.0021%	1h	1,048.6	−0.058%	$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	−0.004%	$1.1M	$4.8M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,049.2	−0.004%	$1.1M	$4.1M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,048.6	−0.057%	$567K	$1.2M	10x	as long as short
QFEX MU-USD	+0.0040%	1h	1,048.6	−0.062%	$7.5M	$20.1M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,048.7	−0.047%	$71K	$237K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,049.8	+0.059%	—	$176K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,049	−0.019%	$178.1M	$99.9M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,048.9	−0.029%	$170K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,048.9	−0.029%	$688K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,048.4	−0.076%	$1.9M	$2.4M	10x	as long as short
Paradex MU-USD-PERP	+0.0068%	8h	1,048.7	−0.049%	$2K	—	5x	as long as short
OKX MU-USDT-SWAP	+0.0070%	8h	1,049.5	+0.025%	$30.8M	$100.7M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,048.5	−0.067%	$148K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,049	−0.018%	$5.2M	$3.5M	20x	as long as short
ApeX Omni MUUSDTshort	+0.0100%	1h	1,048.6	−0.054%	$71K	$268K	50x
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,049	−0.021%	$834	$799	20x	as long as short
Injective MU/USDC PERP	+0.0107%	1h	1,051.4	+0.206%	$19K	$5K	12x	as long as short
Coinbase International MU-PERP-INTX	+0.0128%	1h	1,048.1	−0.107%	$759K	$1.2M	10x	as long as short
Aevo MU-PERP	+0.0136%	1h	1,048.9	−0.029%	$32K	$1K	10x	as long as short
GRVT MU_USDT_Perp	+0.0158%	8h	1,049	−0.022%	$81K	$1.3M	10x	as long as short
Aster MUUSD1	+0.0203%	8h	1,049.2	0.000%	$21.6M	$50.1M	20x	as long as short
Variational Omni MU	+0.0204%	8h	1,049.1	−0.010%	$2.7M	$2.4M	—	as long as short
Binance MUUSDT	+0.0221%	8h	1,049.2	+0.004%	$126.9M	$524.9M	50x	as long as short
Bitget MUUSDT	+0.0278%	8h	1,049.3	+0.010%	$20.3M	$41.9M	50x	as long as short
Phoenix MUlong	+0.0304%	1h	1,049.2	long leg	$537K	$273K	15x
BloFin MU-USDT	+0.0368%	8h	1,049.8	+0.058%	$1.5M	$2.0M	20x	as long as short
RISEx MU/USDC	+0.0507%	1h	1,049.1	−0.013%	$333K	$348K	20x	as long as short