Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0251%/8h= +27.4% APRpaid last 24h +0.023%

Price spread now: Deribit against Bitget−0.034%7-day average −0.026% · 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−$46as in the Price arb table

costs, in and out, $10k−$450.451% of the position

Long on Bitget Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.014%+$1 on $10k

Price spread, last 3 days (all we have)−0.031%−$3 · spread now −0.034%, 7d avg −0.026%

Together, before fees−0.018%−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.026%, so right now this pair is about funding alone: +$8 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.014% in total (about 1.4% 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	Bitget MUUSDT	1,044	0.0065	pay 0.0065% / 8h	2h 23m	$20.5M	$42.9M	50x
Short	Deribit MU_USDC-PERPETUAL	1,043.7	0.0316	get 0.0039% / 1h	23m 45s	$57K	$216K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.034%Rate

Funding earned: $52.63
Price spread: −0.034% → −0.026%: −$0.78
Slippage, 4 orders: −$26.07
Fee Bitget: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $6.78
Costs to cover: 0.451%
Break-even: 6.1 days

Slippage from Bitget: live order book, 5 min ago; Deribit: live order book, 64 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, 5 min ago	0.05 bp	8.6 bp −$9	10.9 bp −$109	21.2 bp −$2,122	doesn't fit
Sell Deribit live order book, 64 min ago	2.16 bp	13.4 bp −$13	16.5 bp −$165	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	−0.0044%	4h	1,044.1	+0.011%	$1.3M	$672K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,044.3	+0.030%	$21.5M	$43.8M	20x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,044.1	+0.007%	$30.7M	$104.3M	50x	as long as short
Gate MU_USDT	0.0000%	8h	1,043.9	−0.011%	$63.0M	$29.0M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,043	−0.095%	$189K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,046.2	+0.208%	$11K	$6.7M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,043.8	−0.018%	$125K	$443K	50x	as long as short
Aftermath Perps MUUSD	+0.0024%	1h	1,043.9	−0.016%	$3K	$44K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,043.5	−0.046%	$1.1M	$4.3M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.641%	$14K	$302	12x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MU-USD-PERP	+0.0046%	1h	1,044	−0.003%	—	$193K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,043.8	−0.021%	$165K	$176K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,043.3	−0.071%	$2.0M	$2.7M	10x	as long as short
Variational Omni MU	+0.0053%	8h	1,044.3	+0.025%	$2.7M	$2.7M	—	as long as short
SoDEX MU-USD	+0.0054%	1h	1,044.1	+0.008%	$685K	$16K	10x	as long as short
QFEX MU-USD	+0.0057%	1h	1,044.3	+0.022%	$7.8M	$24.1M	10x	as long as short
Bitget MUUSDTlong	+0.0065%	8h	1,044	long leg	$20.5M	$42.9M	50x
Binance MUUSDT	+0.0085%	8h	1,044.1	+0.009%	$124.9M	$540.4M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,044	+0.002%	$153K	$182K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,043.6	−0.038%	$5.2M	$4.0M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,044.6	+0.052%	$71K	$267K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,044	−0.003%	$830	$799	20x	as long as short
Aevo MU-PERP	+0.0104%	1h	1,043.9	−0.011%	$33K	—	10x	as long as short
Paradex MU-USD-PERP	+0.0115%	8h	1,044.2	+0.020%	$2K	—	5x	as long as short
GRVT MU_USDT_Perp	+0.0143%	8h	1,044.3	+0.028%	$82K	$1.4M	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0152%	1h	1,043.3	−0.074%	$756K	$1.6M	10x	as long as short
Bybit MUUSDT	+0.0169%	8h	1,044.2	+0.018%	$19.1M	$32.5M	100x	as long as short
Nado MU-PERP	+0.0195%	1h	1,042.9	−0.105%	$307K	$845K	10x	as long as short
tradeXYZ xyz:MU	+0.0197%	1h	1,043.9	−0.011%	$176.4M	$106.9M	10x	as long as short
RISEx MU/USDC	+0.0202%	1h	1,044.4	+0.038%	$286K	$332K	20x	as long as short
BloFin MU-USDT	+0.0203%	8h	1,044.2	+0.021%	$1.5M	$2.1M	20x	as long as short
Lighter MU	+0.0224%	1h	1,043.7	−0.027%	$1.0M	$4.8M	20x	as long as short
Arcus MU-USD	+0.0226%	1h	1,044.2	+0.012%	$63K	$236K	10x	as long as short
Phoenix MU	+0.0230%	1h	1,044.7	+0.065%	$534K	$303K	15x	as long as short
Bullet MU-USD	+0.0231%	1h	1,044.2	+0.017%	$25K	$399K	10x	as long as short
Deribit MU_USDC-PERPETUALshort	+0.0316%	1h	1,043.7	−0.034%	$57K	$216K	10x
Extended MU_24_5-USD	+0.0664%	1h	1,042.8	−0.117%	$541K	$1.1M	10x	as long as short