Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.041%

Price spread now: Coinbase International against Bitget−0.072%57s7-day average −0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$370.372% of the position

Long on Bitget Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.199%+$20 on $10k

Price spread, last 4 days (all we have)−0.016%−$2 · spread now −0.072%, 7d avg −0.037%

Together, before fees+0.184%+$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.035% cheaper against Bitget than usual: you would sell low and buy high (spread −0.072% now, against its 7-day average of −0.037%). If the spread goes back, that is −$3 on $10k: about 29 hours of funding at the current rate (+$3 a day). The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MUUSDT	1,031.7	0	get 0.0000% / 8h	7h 12m	$19.7M	$41.2M	50x
Short	Coinbase International MU-PERP-INTX	1,030.9	0.0096	get 0.0012% / 1h	12m 26s	$720K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bitget. 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 BitgetbpFee Coinbase InternationalbpOrdersPrice spread, now −0.072%Rate

Funding earned: $20.16
Price spread: −0.072% → −0.037%: −$3.45
Slippage, 4 orders: −$15.24
Fee Bitget: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$20.54
Costs to cover: 0.372%
Break-even: 14.1 days

Slippage from Bitget: live order book, 2 min ago; Coinbase International: live order book, 1 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 Bitget live order book, 2 min ago	0.05 bp	8.6 bp −$9	10.5 bp −$105	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	5.29 bp	10.7 bp −$11	13.1 bp −$131	44.2 bp −$4,421	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	−0.0476%	4h	1,031.4	−0.029%	$1.3M	$696K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,031.4	−0.030%	$21.0M	$69.2M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,031.3	−0.034%	$121.8M	$549.7M	50x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,031.9	+0.018%	$29.2M	$103.7M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,031.3	−0.034%	$293K	$377K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,030.9	−0.072%	$61.6M	$28.6M	75x	as long as short
Bitget MUUSDTlong	0.0000%	8h	1,031.7	long leg	$19.7M	$41.2M	50x
Variational Omni MU	0.0000%	8h	1,031.9	+0.021%	$2.5M	$2.6M	—	as long as short
StandX MU-USD	0.0000%	1h	1,031.1	−0.060%	$186K	$3.7M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,032.3	+0.057%	$11K	$5.3M	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX MU-USDT	0.0000%	8h	1,030.8	−0.085%	$118K	$494K	50x	as long as short
QFEX MU-USD	+0.0027%	1h	1,030.8	−0.086%	$7.0M	$19.0M	10x	as long as short
Aftermath Perps MUUSD	+0.0028%	1h	1,030	−0.162%	$3K	$43K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,030.8	−0.088%	$1.1M	$4.5M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.909%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,030.7	−0.094%	$89K	$234K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,031	−0.068%	—	$179K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,031.3	−0.036%	$167K	$177K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,030.6	−0.106%	$1.9M	$3.2M	10x	as long as short
Extended MU_24_5-USD	+0.0072%	1h	1,030.5	−0.113%	$539K	$1.1M	10x	as long as short
Paradex MU-USD-PERP	+0.0078%	8h	1,030.9	−0.075%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,030.8	−0.084%	$32K	$1K	10x	as long as short
Bybit MUUSDT	+0.0087%	8h	1,031.4	−0.027%	$18.7M	$32.5M	100x	as long as short
Coinbase International MU-PERP-INTXshort	+0.0096%	1h	1,030.9	−0.072%	$720K	$1.1M	10x
Pacifica MU	+0.0100%	1h	1,031.1	−0.051%	$146K	$194K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,030.3	−0.138%	$5.1M	$4.8M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,031.8	+0.010%	$70K	$270K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,031.2	−0.047%	$820	$799	20x	as long as short
Nado MU-PERP	+0.0105%	1h	1,029.8	−0.179%	$263K	$813K	10x	as long as short
tradeXYZ xyz:MU	+0.0109%	1h	1,030.7	−0.094%	$174.2M	$79.2M	10x	as long as short
Lighter MU	+0.0112%	1h	1,031	−0.066%	$999K	$5.1M	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,030.7	−0.099%	$1.4M	$2.3M	20x	as long as short
SoDEX MU-USD	+0.0135%	1h	1,031.6	−0.012%	$677K	$15K	10x	as long as short
Bullet MU-USD	+0.0159%	1h	1,031.7	+0.004%	$26K	$389K	10x	as long as short
Phoenix MU	+0.0231%	1h	1,031.3	−0.036%	$528K	$270K	15x	as long as short
GRVT MU_USDT_Perp	+0.0325%	8h	1,031.6	−0.002%	$82K	$1.4M	10x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0692%	1h	1,031.2	−0.047%	$72K	$632K	10x	as long as short