MU

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0254%/8h= +27.9% APRnext payment +$0.32 per $10,000 · paid last 24h +0.073%

Price spread now: Phoenix against SoDEX+0.010%70s7-day average +0.027% · 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−$480.478% of the position

Long on SoDEX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.013%+$1 on $10k

Price spread, last 3 days (all we have)−0.002%$0 · spread now +0.010%, 7d avg +0.027%

Together, before fees+0.011%+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.027%, so right now this pair is about funding alone: +$8 a day on $10k at the current rate. The two prices were read 70 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 3 days it paid 0.013% in total (about 1.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.32 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	SoDEX MU-USD	1,049.1	0.0050	pay 0.0006% / 1h	34m 20s	$688K	$16K	10x
Short	Phoenix MU	1,049.2	0.0304	get 0.0038% / 1h	34m 20s	$537K	$273K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against SoDEX. 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 SoDEXbpFee PhoenixbpOrdersPrice spread, now +0.010%Rate

Funding earned: $53.41
Price spread: +0.010% → +0.027%: −$1.68
Slippage, 4 orders: −$32.79
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $3.94
Costs to cover: 0.478%
Break-even: 6.5 days

Slippage from SoDEX: live order book, 34 min ago; Phoenix: live order book, 33 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 SoDEX live order book, 34 min ago	0.05 bp	11.6 bp −$12	39.4 bp −$394	doesn't fit	doesn't fit
Sell Phoenix live order book, 33 min ago	3.80 bp	12.1 bp −$12	26.4 bp −$264	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	−0.062%	$1.3M	$671K	10x	as long as short
Nado MU-PERP	−0.0006%	1h	1,049.3	+0.016%	$274K	$858K	10x	as long as short
Bybit MUUSDT	0.0000%	8h	1,049.4	+0.030%	$19.2M	$32.6M	100x	as long as short
Gate MU_USDT	0.0000%	8h	1,049.1	−0.002%	$62.1M	$27.6M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,048.8	−0.029%	$190K	$3.4M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,049.1	+0.004%	$26K	$395K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,050.1	+0.100%	$11K	$6.0M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,048.7	−0.036%	$66K	$330K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,048.9	−0.023%	$129K	$430K	50x	as long as short
Aftermath Perps MUUSD	+0.0020%	1h	1,048.7	−0.036%	$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	1,049.3	+0.021%	$1.1M	$4.8M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,049.4	+0.031%	$1.1M	$4.2M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,048.7	−0.041%	$567K	$1.2M	10x	as long as short
QFEX MU-USD	+0.0040%	1h	1,049.1	+0.005%	$7.5M	$20.0M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,048.9	−0.020%	$71K	$237K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,050	+0.089%	—	$176K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,048.9	−0.018%	$178.0M	$99.9M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,048.9	−0.018%	$170K	$203K	10x	as long as short
SoDEX MU-USDlong	+0.0050%	1h	1,049.1	long leg	$688K	$16K	10x
Ondo Perps MU-USD.P	+0.0050%	1h	1,048.4	−0.066%	$1.9M	$2.4M	10x	as long as short
OKX MU-USDT-SWAP	+0.0066%	8h	1,049.2	+0.007%	$30.8M	$100.7M	50x	as long as short
Paradex MU-USD-PERP	+0.0067%	8h	1,049.5	+0.040%	$2K	—	5x	as long as short
Pacifica MU	+0.0100%	1h	1,049.1	+0.002%	$148K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,049	−0.008%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,048.9	−0.021%	$71K	$267K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,049.1	−0.004%	$834	$799	20x	as long as short
Injective MU/USDC PERP	+0.0107%	1h	1,051.4	+0.216%	$19K	$5K	12x	as long as short
Coinbase International MU-PERP-INTX	+0.0128%	1h	1,048.1	−0.096%	$759K	$1.2M	10x	as long as short
Aevo MU-PERP	+0.0136%	1h	1,048.9	−0.017%	$32K	$1K	10x	as long as short
GRVT MU_USDT_Perp	+0.0158%	8h	1,049	−0.012%	$81K	$1.3M	10x	as long as short
Aster MUUSD1	+0.0197%	8h	1,049.3	+0.025%	$21.6M	$50.1M	20x	as long as short
Variational Omni MU	+0.0204%	8h	1,049.1	0.000%	$2.7M	$2.4M	—	as long as short
Binance MUUSDT	+0.0217%	8h	1,049.2	+0.008%	$126.9M	$525.0M	50x	as long as short
Bitget MUUSDT	+0.0269%	8h	1,049.2	+0.008%	$20.3M	$41.9M	50x	as long as short
Phoenix MUshort	+0.0304%	1h	1,049.2	+0.010%	$537K	$273K	15x
BloFin MU-USDT	+0.0368%	8h	1,049.8	+0.069%	$1.5M	$2.0M	20x	as long as short
RISEx MU/USDC	+0.0507%	1h	1,049.3	+0.024%	$333K	$348K	20x	as long as short