Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.039%

Price spread now: HTX against Arcus+0.005%7-day average +0.037% · 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−$43as in the Price arb table

costs, in and out, $10k−$400.400% of the position

Long on Arcus Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.145%−$15 on $10k

Price spread, last 4 days (all we have)+0.013%+$1 · spread now +0.005%, 7d avg +0.037%

Together, before fees−0.133%−$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and HTX is 0.032% cheaper against Arcus than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.037%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus MU-USD	1,040.2	0.0040	pay 0.0005% / 1h	2m 37s	$70K	$231K	10x
Short	HTX MU-USDT	1,040.3	0	get 0.0000% / 8h	2h 02m	$128K	$442K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Arcus. 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 ArcusbpFee HTXbpOrdersPrice spread, now +0.005%Rate

Funding earned: −$8.46
Price spread: +0.005% → +0.037%: −$3.23
Slippage, 4 orders: −$23.54
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee HTX: 6 bp × 2 orders: −$12
Net: −$51.73
Costs to cover: 0.400%
Break-even: never at this rate

Slippage from Arcus: live order book, 46 min ago; HTX: live order book, 46 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 Arcus live order book, 46 min ago	3.74 bp	9.4 bp −$9	13.5 bp −$135	doesn't fit	doesn't fit
Sell HTX live order book, 46 min ago	3.16 bp	10.6 bp −$11	10.8 bp −$108	17.5 bp −$1,749	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
Bitget MUUSDT	−0.0085%	8h	1,040.8	+0.057%	$20.3M	$41.2M	50x	as long as short
edgeX MUUSDC	−0.0008%	4h	1,041.1	+0.089%	$1.3M	$672K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,041.1	+0.082%	$21.2M	$57.2M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,040.7	+0.046%	$122.1M	$536.4M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,040.7	+0.052%	$18.7M	$32.2M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,040.7	+0.051%	$30.0M	$101.7M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,040.7	+0.050%	$316K	$382K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,040.5	+0.031%	$61.7M	$28.6M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,041.3	+0.110%	$2.5M	$2.6M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,041.6	+0.131%	$84K	$1.4M	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX MU-USD	0.0000%	1h	1,040.6	+0.036%	$188K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,041.9	+0.161%	$11K	$5.7M	10x	as long as short
HTX MU-USDTshort	0.0000%	8h	1,040.3	+0.005%	$128K	$442K	50x
Aftermath Perps MUUSD	+0.0017%	1h	1,040.4	+0.015%	$3K	$44K	10x	as long as short
Nado MU-PERP	+0.0022%	1h	1,040	−0.022%	$277K	$816K	10x	as long as short
QFEX MU-USD	+0.0023%	1h	1,040.6	+0.038%	$7.0M	$18.3M	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,040.6	+0.040%	$1.2M	$4.6M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,040.3	+0.008%	$544K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.073%	$19K	$5K	12x	as long as short
Bullet MU-USD	+0.0038%	1h	1,040.4	+0.019%	$26K	$389K	10x	as long as short
Arcus MU-USDlong	+0.0040%	1h	1,040.2	long leg	$70K	$231K	10x
Vest MU-USD-PERP	+0.0046%	1h	1,040.6	+0.041%	—	$175K	25x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0048%	1h	1,040.1	−0.012%	$74K	$535K	10x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,040.5	+0.029%	$177.0M	$90.8M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,040.1	−0.010%	$169K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,040.8	+0.053%	$683K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,040	−0.015%	$1.9M	$2.5M	10x	as long as short
Paradex MU-USD-PERP	+0.0053%	8h	1,040.6	+0.040%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,040.2	0.000%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,040.3	+0.011%	$148K	$189K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,040.5	+0.026%	$5.2M	$3.8M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,040.9	+0.070%	$71K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,040.6	+0.037%	$827	$799	20x	as long as short
Lighter MU	+0.0112%	1h	1,040.8	+0.059%	$1.1M	$5.0M	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,040.9	+0.067%	$1.4M	$2.1M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0144%	1h	1,036	−0.407%	$731K	$1.3M	10x	as long as short
Phoenix MU	+0.0231%	1h	1,041.2	+0.096%	$533K	$270K	15x	as long as short