Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0335%/8h= +36.6% APRpaid last 24h +0.007%

Price spread now: Deribit against Binance−0.035%7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$380.377% of the position

Long on Binance Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.004%$0 on $10k

Price spread, last 2 days (all we have)+0.010%+$1 · spread now −0.035%, 7d avg −0.002%

Together, before fees+0.006%+$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.033% cheaper against Binance than usual: you would sell low and buy high (spread −0.035% now, against its 7-day average of −0.002%). If the spread goes back, that is −$3 on $10k: about 8 hours of funding at the current rate (+$10 a day).

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.004% in total (about -0.4% a year). A funding rate is set anew for every payment. 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	Binance MUUSDT	1,044.5	0.0153	pay 0.0153% / 8h	1h 25m	$125.0M	$536.0M	50x
Short	Deribit MU_USDC-PERPETUAL	1,044.1	0.0488	get 0.0061% / 1h	25m 11s	$61K	$247K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Binance. 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 BinancebpFee DeribitbpOrdersPrice spread, now −0.035%Rate

Funding earned: $70.28
Price spread: −0.035% → −0.002%: −$3.25
Slippage, 4 orders: −$20.71
Fee Binance: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $29.31
Costs to cover: 0.377%
Break-even: 4.1 days

Slippage from Binance: live order book, 4 min ago; Deribit: live order book, 58 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 Binance live order book, 4 min ago	0.05 bp	5.3 bp −$5	6.6 bp −$66	16.7 bp −$1,667	doesn't fit
Sell Deribit live order book, 58 min ago	0.05 bp	16.4 bp −$16	21.1 bp −$211	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	−0.0856%	4h	1,044.1	−0.041%	$1.3M	$671K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,044.3	−0.015%	$63.0M	$29.0M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,043.5	−0.097%	$189K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,046.5	+0.190%	$11K	$6.6M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,044.2	−0.027%	$125K	$441K	50x	as long as short
OKX MU-USDT-SWAP	+0.0029%	8h	1,044.3	−0.021%	$30.8M	$104.9M	50x	as long as short
Aftermath Perps MUUSD	+0.0031%	1h	1,043.9	−0.056%	$3K	$45K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,044.1	−0.035%	$1.2M	$4.2M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.595%	$14K	$302	12x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,043.8	−0.067%	—	$194K	25x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps MU-USD	+0.0050%	1h	1,044	−0.047%	$165K	$193K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,044.4	−0.013%	$685K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,043.3	−0.119%	$2.0M	$2.7M	10x	as long as short
QFEX MU-USD	+0.0071%	1h	1,044.2	−0.032%	$7.8M	$24.2M	10x	as long as short
Aster MUUSD1	+0.0076%	8h	1,044.7	+0.024%	$21.5M	$47.4M	20x	as long as short
Bitget MUUSDT	+0.0098%	8h	1,044.5	−0.004%	$20.5M	$43.1M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,044	−0.050%	$154K	$181K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,043.6	−0.087%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,044	−0.045%	$71K	$266K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,044.4	−0.008%	$830	$799	20x	as long as short
Aevo MU-PERP	+0.0120%	1h	1,044.1	−0.038%	$33K	—	10x	as long as short
Paradex MU-USD-PERP	+0.0132%	8h	1,044.1	−0.040%	$2K	—	5x	as long as short
Variational Omni MU	+0.0135%	8h	1,044.2	−0.030%	$2.6M	$2.7M	—	as long as short
Binance MUUSDTlong	+0.0153%	8h	1,044.5	long leg	$125.0M	$536.0M	50x
Coinbase International MU-PERP-INTX	+0.0184%	1h	1,043.9	−0.057%	$756K	$1.4M	10x	as long as short
Lighter MU	+0.0192%	1h	1,044.3	−0.021%	$1.0M	$4.8M	20x	as long as short
Nado MU-PERP	+0.0209%	1h	1,043.4	−0.108%	$266K	$868K	10x	as long as short
GRVT MU_USDT_Perp	+0.0210%	8h	1,044.6	+0.006%	$82K	$1.4M	10x	as long as short
Bybit MUUSDT	+0.0238%	8h	1,044.6	+0.009%	$19.2M	$32.6M	100x	as long as short
Bullet MU-USD	+0.0266%	1h	1,044.4	−0.012%	$26K	$398K	10x	as long as short
BloFin MU-USDT	+0.0273%	8h	1,044.6	+0.012%	$1.4M	$2.0M	20x	as long as short
tradeXYZ xyz:MU	+0.0325%	1h	1,044.1	−0.038%	$176.3M	$107.2M	10x	as long as short
Phoenix MU	+0.0383%	1h	1,044.4	−0.009%	$534K	$306K	15x	as long as short
Arcus MU-USD	+0.0435%	1h	1,043.8	−0.071%	$73K	$241K	10x	as long as short
Deribit MU_USDC-PERPETUALshort	+0.0488%	1h	1,044.1	−0.035%	$61K	$247K	10x
RISEx MU/USDC	+0.0499%	1h	1,044.6	+0.010%	$295K	$338K	20x	as long as short
Extended MU_24_5-USD	+0.0656%	1h	1,043.1	−0.137%	$541K	$1.1M	10x	as long as short