Funding you earn now, next payment 10:00 UTC−0.0262%/8h= −28.7% APRnext payment −$0.33 per $10,000 · paid last 24h −0.068%
Price spread now: Vest against Phoenix−0.062%58s7-day average +0.578% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.056%−$6 on $10k
+Price spread, last 4 days (all we have)+0.102%+$10 · spread now −0.062%, 7d avg +0.578%
=Together, before fees+0.046%+ Points / potential airdropVest: Active · farm board+$5 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Vest is 0.640% cheaper against Phoenix than usual: you would sell low and buy high (−$64 if the spread goes back to its 7-day average of +0.578%). Swap the legs. The two prices were read 58 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 -0.056% in total (about -5.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.33 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix MU | 1,040.4 | 0.0308 | pay 0.0038% / 1h | 44m 33s | $532K | $159K | 15x |
| Short | Vest MU-USD-PERP | 1,039.8 | 0.0046 | get 0.0006% / 1h | 44m 33s | — | $177K | 25x |
Phoenix MU
Vest MU-USD-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Vest 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
- −$55
- Price spread: −0.062% → +0.578%
- −$63.98
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Vest: 1 bp × 2 orders
- −$2
- Net
- −$127.98
- Costs to cover
- 0.090%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 66 min ago; Vest: no order-book sample. 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 Phoenix live order book, 66 min ago | 3.87 bp | 13.2 bp −$13 | 29.1 bp −$291 | doesn't fit | doesn't fit |
| Sell Vest no order-book sample | — | — | — | — | — |
Vest: 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 exchanges
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 | −0.0300% | 4h | 1,039.7 | −0.072% | $1.3M | $696K | 10x | as long as short |
| Aster MUUSD1 | 0.0000% | 8h | 1,039.4 | −0.100% | $21.2M | $73.6M | 20x | as long as short |
| Binance MUUSDT | 0.0000% | 8h | 1,039.1 | −0.126% | $121.6M | $555.5M | 50x | as long as short |
| OKX MU-USDT-SWAP | 0.0000% | 8h | 1,039.1 | −0.129% | $29.7M | $107.7M | 50x | as long as short |
| Gate MU_USDT | 0.0000% | 8h | 1,038.8 | −0.156% | $61.3M | $28.0M | 75x | as long as short |
| Bitget MUUSDT | 0.0000% | 8h | 1,038.8 | −0.151% | $19.8M | $43.6M | 50x | as long as short |
| Variational Omni MU | 0.0000% | 8h | 1,039.1 | −0.129% | $2.6M | $2.6M | — | as long as short |
| StandX MU-USD | 0.0000% | 1h | 1,038.7 | −0.165% | $188K | $3.7M | 20x | as long as short |
| SunX MU-USDT | 0.0000% | 8h | 1,040.8 | +0.042% | $11K | $5.0M | 10x | as long as short |
| Deribit MU_USDC-PERPETUAL | 0.0000% | 1h | 1,038.1 | −0.217% | $34K | $725K | 10x | as long as short |
edgeX MUUSDC
Aster MUUSD1
Binance MUUSDT
OKX MU-USDT-SWAP
Gate MU_USDT
Bitget MUUSDT
Variational Omni MU
StandX MU-USD
SunX MU-USDT
Deribit MU_USDC-PERPETUALShow all 37 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX MU-USDT | 0.0000% | 8h | 1,038.9 | −0.143% | $119K | $474K | 50x | as long as short |
| Lighter RH MU | +0.0032% | 1h | 1,038.7 | −0.161% | $1.2M | $4.5M | 10x | as long as short |
| Injective MU/USDC PERP | +0.0033% | 1h | 1,051.4 | +1.053% | $19K | $5K | 12x | as long as short |
| Aftermath Perps MUUSD | +0.0035% | 1h | 1,039 | −0.130% | $3K | $41K | 10x | as long as short |
| Vest MU-USD-PERPshort | +0.0046% | 1h | 1,039.8 | −0.062% | — | $177K | 25x | |
| Polymarket Perps MU-USD | +0.0050% | 1h | 1,038.7 | −0.163% | $169K | $171K | 10x | as long as short |
| SoDEX MU-USD | +0.0050% | 1h | 1,039 | −0.132% | $683K | $14K | 10x | as long as short |
| Ondo Perps MU-USD.P | +0.0050% | 1h | 1,037.4 | −0.288% | $1.9M | $3.2M | 10x | as long as short |
| QFEX MU-USD | +0.0058% | 1h | 1,038.4 | −0.189% | $7.0M | $19.3M | 10x | as long as short |
| Bybit MUUSDT | +0.0067% | 8h | 1,039.2 | −0.115% | $18.8M | $32.3M | 100x | as long as short |
| Paradex MU-USD-PERP | +0.0079% | 8h | 1,038.8 | −0.158% | $2K | — | 5x | as long as short |
| Aevo MU-PERP | +0.0080% | 1h | 1,038.5 | −0.182% | $32K | $1K | 10x | as long as short |
| Pacifica MU | +0.0100% | 1h | 1,038.4 | −0.196% | $150K | $227K | 10x | as long as short |
| KuCoin MUUSDTM | +0.0100% | 8h | 1,038.6 | −0.169% | $5.2M | $6.0M | 20x | as long as short |
| ApeX Omni MUUSDT | +0.0100% | 1h | 1,039.8 | −0.057% | $71K | $270K | 50x | as long as short |
| Orderly PERP_MU_USDC_mythos | +0.0100% | 8h | 1,038.9 | −0.141% | $826 | $799 | 20x | as long as short |
| RISEx MU/USDC | +0.0118% | 1h | 1,039.1 | −0.126% | $299K | $351K | 20x | as long as short |
| BloFin MU-USDT | +0.0120% | 8h | 1,039.2 | −0.111% | $1.5M | $2.6M | 20x | as long as short |
| Nado MU-PERP | +0.0123% | 1h | 1,038.4 | −0.191% | $276K | $841K | 10x | as long as short |
| Arcus MU-USD | +0.0139% | 1h | 1,038.3 | −0.201% | $90K | $148K | 10x | as long as short |
| Lighter MU | +0.0176% | 1h | 1,038.7 | −0.163% | $1.0M | $5.0M | 20x | as long as short |
| Coinbase International MU-PERP-INTX | +0.0192% | 1h | 1,038.5 | −0.186% | $727K | $1.2M | 10x | as long as short |
| Bullet MU-USD | +0.0206% | 1h | 1,039.3 | −0.107% | $24K | $385K | 10x | as long as short |
| GRVT MU_USDT_Perp | +0.0221% | 8h | 1,040.4 | +0.003% | $73K | $1.4M | 10x | as long as short |
| tradeXYZ xyz:MU | +0.0236% | 1h | 1,038.7 | −0.163% | $177.1M | $75.7M | 10x | as long as short |
| Phoenix MUlong | +0.0308% | 1h | 1,040.4 | long leg | $532K | $159K | 15x | |
| Extended MU_24_5-USD | +0.0328% | 1h | 1,037.8 | −0.252% | $551K | $1.1M | 10x | as long as short |
HTX MU-USDT
Lighter RH MU
Injective MU/USDC PERP
Aftermath Perps MUUSD
Polymarket Perps MU-USD
SoDEX MU-USD
Ondo Perps MU-USD.P
QFEX MU-USD
Bybit MUUSDT
Paradex MU-USD-PERP
Aevo MU-PERP
Pacifica MU
KuCoin MUUSDTM
ApeX Omni MUUSDT
Orderly PERP_MU_USDC_mythos
RISEx MU/USDC
BloFin MU-USDT
Nado MU-PERP
Arcus MU-USD
Lighter MU
Coinbase International MU-PERP-INTX
Bullet MU-USD
GRVT MU_USDT_Perp
tradeXYZ xyz:MU
Extended MU_24_5-USD