Funding you earn now, next payment 07:00 UTC−0.0200%/8h= −21.9% APRnext payment −$0.25 per $10,000 · paid last 24h −0.052%
Price spread now: Nado against Phoenix+0.153%57s7-day average −0.034% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$410.411% of the position
Funding, last 4 days (all we have)−0.069%−$7 on $10k
+Price spread, last 4 days (all we have)−0.266%−$27 · spread now +0.153%, 7d avg −0.034%
=Together, before fees−0.334%+ Points / potential airdropNado: Active · farm board−$33 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Nado is 0.187% dearer against Phoenix than usual: you sell high and buy low (spread +0.153% now, against its 7-day average of −0.034%): +$19 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 3.1 days. At the pace of the last 4 days (−0.069% in total) that is about 9.5 days. The two prices were read 57 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 4 days it paid -0.069% in total (about -7.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.25 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 | Phoenix MU | 1,035.6 | 0.0232 | pay 0.0029% / 1h | 48m 25s | $530K | $270K | 15x |
| Short | Nado MU-PERP | 1,037.2 | 0.0032 | get 0.0004% / 1h | 48m 25s | $279K | $808K | 10x |
Phoenix MU
Nado MU-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado 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
- −$41.92
- Price spread: +0.153% → −0.034%
- $18.66
- Slippage, 4 orders
- −$27.05
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$64.32
- Costs to cover
- 0.411%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 54 min ago; Nado: live order book, 55 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, 54 min ago | 3.86 bp | 13.1 bp −$13 | 29.1 bp −$291 | doesn't fit | doesn't fit |
| Sell Nado live order book, 55 min ago | 0.05 bp | 7.2 bp −$7 | 23.7 bp −$237 | 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 | −0.0547% | 4h | 1,036.2 | +0.057% | $1.3M | $673K | 10x | as long as short |
| Bitget MUUSDT | −0.0216% | 8h | 1,037.4 | +0.177% | $20.2M | $40.1M | 50x | as long as short |
| Aster MUUSD1 | 0.0000% | 8h | 1,037.7 | +0.206% | $21.1M | $64.8M | 20x | as long as short |
| Binance MUUSDT | 0.0000% | 8h | 1,037.3 | +0.167% | $122.1M | $538.3M | 50x | as long as short |
| Bybit MUUSDT | 0.0000% | 8h | 1,037.4 | +0.169% | $18.7M | $32.2M | 100x | as long as short |
| OKX MU-USDT-SWAP | 0.0000% | 8h | 1,037.5 | +0.180% | $29.8M | $100.1M | 50x | as long as short |
| RISEx MU/USDC | 0.0000% | 1h | 1,037.8 | +0.217% | $313K | $385K | 20x | as long as short |
| Gate MU_USDT | 0.0000% | 8h | 1,037.7 | +0.201% | $61.5M | $28.2M | 75x | as long as short |
| Variational Omni MU | 0.0000% | 8h | 1,036.2 | +0.061% | $2.5M | $2.6M | — | as long as short |
| GRVT MU_USDT_Perp | 0.0000% | 8h | 1,036.4 | +0.078% | $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 | 1,036.5 | +0.083% | $187K | $3.5M | 20x | as long as short |
| SunX MU-USDT | 0.0000% | 8h | 1,039.4 | +0.366% | $11K | $5.6M | 10x | as long as short |
| Deribit MU_USDC-PERPETUAL | 0.0000% | 1h | 1,037.5 | +0.180% | $74K | $593K | 10x | as long as short |
| HTX MU-USDT | 0.0000% | 8h | 1,037.3 | +0.162% | $128K | $460K | 50x | as long as short |
| Aftermath Perps MUUSD | +0.0016% | 1h | 1,036.2 | +0.062% | $3K | $44K | 10x | as long as short |
| QFEX MU-USD | +0.0021% | 1h | 1,037.7 | +0.199% | $7.0M | $18.8M | 10x | as long as short |
| Nado MU-PERPshort | +0.0032% | 1h | 1,037.2 | +0.153% | $279K | $808K | 10x | |
| Lighter RH MU | +0.0032% | 1h | 1,037.7 | +0.207% | $1.1M | $4.4M | 10x | as long as short |
| Extended MU_24_5-USD | +0.0032% | 1h | 1,037.2 | +0.155% | $546K | $1.1M | 10x | as long as short |
| Injective MU/USDC PERP | +0.0033% | 1h | 1,051.4 | +1.522% | $19K | $5K | 12x | as long as short |
| Arcus MU-USD | +0.0040% | 1h | 1,036.4 | +0.075% | $90K | $244K | 10x | as long as short |
| Bullet MU-USD | +0.0044% | 1h | 1,037.6 | +0.194% | $25K | $389K | 10x | as long as short |
| Vest MU-USD-PERP | +0.0046% | 1h | 1,037.4 | +0.170% | — | $175K | 25x | as long as short |
| tradeXYZ xyz:MU | +0.0050% | 1h | 1,037 | +0.135% | $176.3M | $84.0M | 10x | as long as short |
| Polymarket Perps MU-USD | +0.0050% | 1h | 1,037 | +0.135% | $168K | $195K | 10x | as long as short |
| SoDEX MU-USD | +0.0050% | 1h | 1,037.4 | +0.171% | $681K | $15K | 10x | as long as short |
| Ondo Perps MU-USD.P | +0.0050% | 1h | 1,035.7 | +0.005% | $1.8M | $2.7M | 10x | as long as short |
| Paradex MU-USD-PERP | +0.0051% | 8h | 1,037.8 | +0.210% | $2K | — | 5x | as long as short |
| Lighter MU | +0.0072% | 1h | 1,037.9 | +0.217% | $1.0M | $4.9M | 20x | as long as short |
| Aevo MU-PERP | +0.0080% | 1h | 1,037.2 | +0.152% | $32K | $1K | 10x | as long as short |
| Coinbase International MU-PERP-INTX | +0.0080% | 1h | 1,038.8 | +0.307% | $734K | $1.2M | 10x | as long as short |
| Pacifica MU | +0.0100% | 1h | 1,037.7 | +0.198% | $147K | $188K | 10x | as long as short |
| KuCoin MUUSDTM | +0.0100% | 8h | 1,037.6 | +0.188% | $5.2M | $3.9M | 20x | as long as short |
| ApeX Omni MUUSDT | +0.0100% | 1h | 1,036.5 | +0.091% | $70K | $270K | 50x | as long as short |
| Orderly PERP_MU_USDC_mythos | +0.0100% | 8h | 1,037.6 | +0.196% | $825 | $799 | 20x | as long as short |
| BloFin MU-USDT | +0.0120% | 8h | 1,037.8 | +0.210% | $1.5M | $2.1M | 20x | as long as short |
| Phoenix MUlong | +0.0232% | 1h | 1,035.6 | long leg | $530K | $270K | 15x |
StandX MU-USD
SunX MU-USDT
Deribit MU_USDC-PERPETUAL
HTX MU-USDT
Aftermath Perps MUUSD
QFEX MU-USD
Lighter RH MU
Extended MU_24_5-USD
Injective MU/USDC PERP
Arcus MU-USD
Bullet 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
Lighter MU
Aevo MU-PERP
Coinbase International MU-PERP-INTX
Pacifica MU
KuCoin MUUSDTM
ApeX Omni MUUSDT
Orderly PERP_MU_USDC_mythos
BloFin MU-USDT