Funding you earn now, next payment 07:00 UTC−0.0200%/8h= −21.8% APRnext payment −$0.25 per $10,000 · paid last 24h −0.060%
Price spread now: Lighter against Phoenix−0.028%74s7-day average −0.029% · you buy dearer than you sell
Net, funding: paid 7d − costs−$41as 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−$240.236% of the position
Funding, last 7 days−0.177%−$18 on $10k
+Price spread, last 4 days (all we have)+0.006%+$1 · spread now −0.028%, 7d avg −0.029%
=Together, before fees−0.171%+ Points / potential airdropLighter: Season 3 · farm board−$17 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.029%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate. The two prices were read 74 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 | Phoenix MU | 1,038.9 | 0.0232 | pay 0.0029% / 1h | 9m 59s | $531K | $270K | 15x |
| Short | Lighter MU | 1,038.6 | 0.0032 | get 0.0004% / 1h | 9m 59s | $1.0M | $4.9M | 20x |
Phoenix MU
Lighter MUFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Phoenix. 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
- −$41.9
- Price spread: −0.028% → −0.029%
- $0.07
- Slippage, 4 orders
- −$16.58
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$65.41
- Costs to cover
- 0.236%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 28 min ago; Lighter: live order book, 3 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, 28 min ago | 2.89 bp | 10.8 bp −$11 | 23.4 bp −$234 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 3 min ago | 0.77 bp | 0.8 bp −$1 | 0.9 bp −$9 | 18.3 bp −$1,829 | 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 | −0.0799% | 4h | 1,038.2 | −0.067% | $1.3M | $674K | 10x | as long as short |
| Bitget MUUSDT | −0.0153% | 8h | 1,038.8 | −0.014% | $20.2M | $39.9M | 50x | as long as short |
| Aster MUUSD1 | 0.0000% | 8h | 1,038.8 | −0.014% | $21.2M | $67.0M | 20x | as long as short |
| Binance MUUSDT | 0.0000% | 8h | 1,038.6 | −0.029% | $122.4M | $537.2M | 50x | as long as short |
| Bybit MUUSDT | 0.0000% | 8h | 1,038.6 | −0.030% | $18.8M | $32.3M | 100x | as long as short |
| OKX MU-USDT-SWAP | 0.0000% | 8h | 1,038.4 | −0.052% | $29.8M | $100.1M | 50x | as long as short |
| RISEx MU/USDC | 0.0000% | 1h | 1,038.3 | −0.059% | $313K | $384K | 20x | as long as short |
| Gate MU_USDT | 0.0000% | 8h | 1,038.3 | −0.055% | $61.6M | $28.4M | 75x | as long as short |
| Variational Omni MU | 0.0000% | 8h | 1,037.8 | −0.110% | $2.5M | $2.6M | — | as long as short |
| GRVT MU_USDT_Perp | 0.0000% | 8h | 1,038.7 | −0.022% | $71K | $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 | 1,038 | −0.088% | $188K | $3.5M | 20x | as long as short |
| SunX MU-USDT | 0.0000% | 8h | 1,040.1 | +0.118% | $11K | $5.5M | 10x | as long as short |
| Deribit MU_USDC-PERPETUAL | 0.0000% | 1h | 1,038.3 | −0.057% | $74K | $617K | 10x | as long as short |
| HTX MU-USDT | 0.0000% | 8h | 1,038.4 | −0.045% | $126K | $481K | 50x | as long as short |
| Bullet MU-USD | +0.0006% | 1h | 1,038.6 | −0.030% | $25K | $388K | 10x | as long as short |
| Nado MU-PERP | +0.0014% | 1h | 1,037.9 | −0.096% | $280K | $804K | 10x | as long as short |
| Aftermath Perps MUUSD | +0.0019% | 1h | 1,038.2 | −0.068% | $3K | $44K | 10x | as long as short |
| QFEX MU-USD | +0.0021% | 1h | 1,038 | −0.091% | $7.0M | $18.7M | 10x | as long as short |
| Lighter MUshort | +0.0032% | 1h | 1,038.6 | −0.028% | $1.0M | $4.9M | 20x | |
| Lighter RH MU | +0.0032% | 1h | 1,038.5 | −0.039% | $1.1M | $4.5M | 10x | as long as short |
| Extended MU_24_5-USD | +0.0032% | 1h | 1,037.9 | −0.093% | $545K | $1.1M | 10x | as long as short |
| Injective MU/USDC PERP | +0.0033% | 1h | 1,051.4 | +1.199% | $19K | $5K | 12x | as long as short |
| Arcus MU-USD | +0.0040% | 1h | 1,037.6 | −0.123% | $90K | $244K | 10x | as long as short |
| Vest MU-USD-PERP | +0.0046% | 1h | 1,038.3 | −0.054% | — | $175K | 25x | as long as short |
| tradeXYZ xyz:MU | +0.0050% | 1h | 1,038.3 | −0.058% | $176.4M | $81.5M | 10x | as long as short |
| Polymarket Perps MU-USD | +0.0050% | 1h | 1,038 | −0.087% | $168K | $177K | 10x | as long as short |
| SoDEX MU-USD | +0.0050% | 1h | 1,038.1 | −0.073% | $681K | $15K | 10x | as long as short |
| Ondo Perps MU-USD.P | +0.0050% | 1h | 1,038 | −0.083% | $1.8M | $2.7M | 10x | as long as short |
| Paradex MU-USD-PERP | +0.0050% | 8h | 1,037.8 | −0.105% | $2K | — | 5x | as long as short |
| Aevo MU-PERP | +0.0080% | 1h | 1,038.1 | −0.080% | $32K | $1K | 10x | as long as short |
| Coinbase International MU-PERP-INTX | +0.0080% | 1h | 1,038.3 | −0.054% | $726K | $1.2M | 10x | as long as short |
| Pacifica MU | +0.0100% | 1h | 1,037.6 | −0.124% | $144K | $192K | 10x | as long as short |
| KuCoin MUUSDTM | +0.0100% | 8h | 1,038.2 | −0.070% | $5.2M | $4.1M | 20x | as long as short |
| ApeX Omni MUUSDT | +0.0100% | 1h | 1,038.7 | −0.017% | $70K | $269K | 50x | as long as short |
| Orderly PERP_MU_USDC_mythos | +0.0100% | 8h | 1,038.5 | −0.036% | $826 | $799 | 20x | as long as short |
| BloFin MU-USDT | +0.0120% | 8h | 1,038 | −0.091% | $1.5M | $2.1M | 20x | as long as short |
| Phoenix MUlong | +0.0232% | 1h | 1,038.9 | long leg | $531K | $270K | 15x |
StandX MU-USD
SunX MU-USDT
Deribit MU_USDC-PERPETUAL
HTX MU-USDT
Bullet MU-USD
Nado MU-PERP
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
tradeXYZ xyz:MU
Polymarket Perps MU-USD
SoDEX MU-USD
Ondo Perps MU-USD.P
Paradex MU-USD-PERP
Aevo MU-PERP
Coinbase International MU-PERP-INTX
Pacifica MU
KuCoin MUUSDTM
ApeX Omni MUUSDT
Orderly PERP_MU_USDC_mythos
BloFin MU-USDT