Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0235%/8h= +25.7% APRpaid last 24h −0.006%

Price spread now: SoDEX against Bitget+0.005%7-day average −0.020% · 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−$37as in the Price arb table

costs, in and out, $10k−$390.391% of the position

Long on Bitget Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.026%+$3 on $10k

Price spread, last 4 days (all we have)−0.040%−$4 · spread now +0.005%, 7d avg −0.020%

Together, before fees−0.014%−$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and SoDEX is 0.025% dearer against Bitget than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.020%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.026% in total (about 2.7% 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	1,037.9	−0.0185	get 0.0185% / 8h	19m 53s	$20.2M	$40.1M	50x
Short	SoDEX MU-USD	1,037.9	0.0050	get 0.0006% / 1h	19m 53s	$681K	$15K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.005%Rate

Funding earned: $49.35
Price spread: +0.005% → −0.020%: $2.5
Slippage, 4 orders: −$19.14
Fee Bitget: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $12.71
Costs to cover: 0.391%
Break-even: 5.2 days

Slippage from Bitget: live order book, 4 min ago; SoDEX: live order book, 19 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, 4 min ago	0.05 bp	7.7 bp −$8	10.7 bp −$107	doesn't fit	doesn't fit
Sell SoDEX live order book, 19 min ago	0.05 bp	11.9 bp −$12	39.7 bp −$397	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	−0.0298%	4h	1,036.5	−0.133%	$1.3M	$673K	10x	as long as short
Bitget MUUSDTlong	−0.0185%	8h	1,037.9	long leg	$20.2M	$40.1M	50x
Aster MUUSD1	0.0000%	8h	1,038.2	+0.028%	$21.2M	$66.2M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,038.2	+0.028%	$122.2M	$538.4M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,038.2	+0.031%	$18.8M	$32.3M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,038	+0.013%	$29.8M	$100.2M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,037.9	+0.007%	$313K	$384K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,037.8	−0.005%	$61.5M	$28.4M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,037.5	−0.031%	$2.5M	$2.6M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,036.6	−0.118%	$71K	$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	1,037.9	+0.005%	$188K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,039.6	+0.170%	$11K	$5.5M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,037.8	−0.004%	$74K	$615K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,037.6	−0.022%	$127K	$480K	50x	as long as short
Bullet MU-USD	+0.0009%	1h	1,038.1	+0.020%	$26K	$389K	10x	as long as short
Nado MU-PERP	+0.0016%	1h	1,037.6	−0.026%	$280K	$805K	10x	as long as short
Aftermath Perps MUUSD	+0.0018%	1h	1,037	−0.079%	$3K	$44K	10x	as long as short
QFEX MU-USD	+0.0021%	1h	1,037.8	−0.009%	$7.0M	$18.8M	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,037.9	+0.004%	$1.1M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,037.4	−0.045%	$545K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.301%	$19K	$5K	12x	as long as short
Lighter MU	+0.0040%	1h	1,038	+0.014%	$1.0M	$4.9M	20x	as long as short
Arcus MU-USD	+0.0040%	1h	1,037	−0.079%	$90K	$245K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,037.7	−0.012%	—	$175K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,037.7	−0.015%	$176.3M	$81.4M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,037.8	−0.006%	$168K	$195K	10x	as long as short
SoDEX MU-USDshort	+0.0050%	1h	1,037.9	+0.005%	$681K	$15K	10x
Ondo Perps MU-USD.P	+0.0050%	1h	1,037.4	−0.043%	$1.8M	$2.7M	10x	as long as short
Paradex MU-USD-PERP	+0.0051%	8h	1,037.8	−0.010%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,037.5	−0.033%	$32K	$1K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0080%	1h	1,036.7	−0.113%	$725K	$1.2M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,037.4	−0.042%	$143K	$190K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,037.7	−0.018%	$5.2M	$4.0M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,037.3	−0.051%	$70K	$270K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,038	+0.010%	$825	$799	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,037.9	+0.008%	$1.5M	$2.1M	20x	as long as short
Phoenix MU	+0.0232%	1h	1,037.8	−0.006%	$531K	$270K	15x	as long as short