Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0027%/8h= −2.9% APRpaid last 24h +0.001%

Price spread now: Injective against Bitget+0.637%61s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bitget Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.235%−$23 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Injective is 0.637% dearer against Bitget than usual: you sell high and buy low (spread +0.637% now, against zero (this spread has no 7-day history yet)): +$64 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3 months. At the pace of the last 7 days (−0.235% in total) that is about 19 days. The two prices were read 61 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	1,044.1	0.0060	pay 0.0060% / 8h	2h 28m	$20.5M	$42.9M	50x
Short	Injective MU/USDC PERP	1,050.7	0.0033	get 0.0004% / 1h	28m 18s	$14K	$302	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.637%Rate

Funding earned: −$5.6
Price spread: +0.637% → 0.000%: $63.69
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $46.07
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Bitget: live order book, 1 min ago; Injective: no order-book sample. Net counts fees only.

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, 1 min ago	0.05 bp	8.6 bp −$9	10.9 bp −$109	21.2 bp −$2,122	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0845%	4h	1,043.7	−0.032%	$1.3M	$674K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,044.4	+0.036%	$21.5M	$43.0M	20x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,044.1	+0.002%	$30.7M	$104.4M	50x	as long as short
Gate MU_USDT	0.0000%	8h	1,044	−0.003%	$63.0M	$28.9M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,042.7	−0.126%	$188K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,046	+0.190%	$11K	$6.7M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,044	−0.005%	$125K	$443K	50x	as long as short
Aftermath Perps MUUSD	+0.0022%	1h	1,043.6	−0.045%	$3K	$44K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,043.9	−0.013%	$1.1M	$4.3M	10x	as long as short
Injective MU/USDC PERPshort	+0.0033%	1h	1,050.7	+0.637%	$14K	$302	12x

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MU	+0.0038%	8h	1,043.9	−0.016%	$2.7M	$2.7M	—	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,043.8	−0.021%	—	$193K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,043.7	−0.034%	$165K	$176K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,043.1	−0.097%	$2.0M	$2.7M	10x	as long as short
QFEX MU-USD	+0.0057%	1h	1,044.2	+0.014%	$7.8M	$24.1M	10x	as long as short
SoDEX MU-USD	+0.0060%	1h	1,044	−0.002%	$685K	$16K	10x	as long as short
Bitget MUUSDTlong	+0.0060%	8h	1,044.1	long leg	$20.5M	$42.9M	50x
Binance MUUSDT	+0.0073%	8h	1,044.1	+0.001%	$124.8M	$540.2M	50x	as long as short
Aevo MU-PERP	+0.0096%	1h	1,044	−0.006%	$33K	—	10x	as long as short
Pacifica MU	+0.0100%	1h	1,044.1	+0.001%	$153K	$182K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,043.5	−0.053%	$5.2M	$4.0M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,043.5	−0.057%	$71K	$267K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,044.2	+0.009%	$830	$799	20x	as long as short
Paradex MU-USD-PERP	+0.0108%	8h	1,044.1	+0.008%	$2K	—	5x	as long as short
GRVT MU_USDT_Perp	+0.0126%	8h	1,043.9	−0.018%	$82K	$1.4M	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0152%	1h	1,043.3	−0.078%	$756K	$1.8M	10x	as long as short
Bybit MUUSDT	+0.0160%	8h	1,044.4	+0.030%	$19.1M	$32.4M	100x	as long as short
tradeXYZ xyz:MU	+0.0172%	1h	1,044.1	+0.004%	$176.4M	$107.0M	10x	as long as short
BloFin MU-USDT	+0.0191%	8h	1,044.3	+0.020%	$1.5M	$2.1M	20x	as long as short
Nado MU-PERP	+0.0192%	1h	1,043.3	−0.070%	$307K	$845K	10x	as long as short
RISEx MU/USDC	+0.0202%	1h	1,044.3	+0.020%	$288K	$331K	20x	as long as short
Lighter MU	+0.0224%	1h	1,044	−0.005%	$1.0M	$4.8M	20x	as long as short
Arcus MU-USD	+0.0226%	1h	1,044	−0.004%	$63K	$236K	10x	as long as short
Bullet MU-USD	+0.0230%	1h	1,044.1	+0.004%	$25K	$399K	10x	as long as short
Phoenix MU	+0.0230%	1h	1,044.1	+0.004%	$534K	$303K	15x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0315%	1h	1,044.1	0.000%	$57K	$212K	10x	as long as short
Extended MU_24_5-USD	+0.0616%	1h	1,042.9	−0.113%	$539K	$1.0M	10x	as long as short