Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0038%/8h= −4.2% APRpaid last 24h −0.021%

Price spread now: Aster against Bullet−0.040%7-day average −0.004% · 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−$31as in the Price arb table

costs, in and out, $10k−$280.276% of the position

Long on Bullet Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.105%−$10 on $10k

Price spread, last 4 days (all we have)+0.074%+$7 · spread now −0.040%, 7d avg −0.004%

Together, before fees−0.031%+ Points / potential airdropAster: Stage 5 · farm board−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Aster is 0.037% cheaper against Bullet than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.004%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet MU-USD	1,041.6	0.0038	pay 0.0005% / 1h	2m 13s	$25K	$392K	10x
Short	Aster MUUSD1	1,041.1	0	get 0.0000% / 8h	3h 02m	$21.2M	$57.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Bullet. 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 BulletbpFee AsterbpOrdersPrice spread, now −0.040%Rate

Funding earned: −$7.97
Price spread: −0.040% → −0.004%: −$3.67
Slippage, 4 orders: −$11.61
Fee Bullet: 4 bp × 2 orders: −$8
Fee Aster: 4 bp × 2 orders: −$8
Net: −$39.25
Costs to cover: 0.276%
Break-even: never at this rate

Slippage from Bullet: live order book, 52 min ago; Aster: live order book, 2 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 Bullet live order book, 52 min ago	0.48 bp	6.4 bp −$6	20.6 bp −$206	doesn't fit	doesn't fit
Sell Aster live order book, 2 min ago	1.58 bp	7.7 bp −$8	22.9 bp −$229	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	−0.0412%	4h	1,042.8	+0.116%	$1.3M	$672K	10x	as long as short
Aster MUUSD1short	0.0000%	8h	1,041.1	−0.040%	$21.2M	$57.2M	20x
Binance MUUSDT	0.0000%	8h	1,040.5	−0.102%	$123.1M	$525.8M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,040.6	−0.094%	$18.6M	$32.0M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,041	−0.050%	$30.6M	$99.6M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,041.7	+0.018%	$336K	$354K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,041.3	−0.025%	$61.8M	$28.1M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,041.5	−0.009%	$20.4M	$41.7M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,043.3	+0.168%	$2.7M	$2.4M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,043	+0.141%	$83K	$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	1,042.8	+0.116%	$188K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,043	+0.139%	$11K	$5.8M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,040.9	−0.059%	$129K	$435K	50x	as long as short
Aftermath Perps MUUSD	+0.0023%	1h	1,042.1	+0.056%	$3K	$44K	10x	as long as short
QFEX MU-USD	+0.0032%	1h	1,041.5	−0.009%	$7.0M	$18.0M	10x	as long as short
Lighter MU	+0.0032%	1h	1,040.7	−0.085%	$1.1M	$5.1M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,040.3	−0.122%	$1.3M	$4.5M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,040.4	−0.112%	$553K	$1.1M	10x	as long as short
Nado MU-PERP	+0.0032%	1h	1,041.2	−0.033%	$280K	$823K	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.941%	$19K	$5K	12x	as long as short
Bullet MU-USDlong	+0.0038%	1h	1,041.6	long leg	$25K	$392K	10x
Arcus MU-USD	+0.0040%	1h	1,042.2	+0.061%	$70K	$232K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,041.7	+0.012%	—	$176K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,041.1	−0.044%	$177.0M	$94.9M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,041.2	−0.034%	$169K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,040.9	−0.061%	$683K	$16K	10x	as long as short
Paradex MU-USD-PERP	+0.0050%	8h	1,041.7	+0.014%	$2K	—	5x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,040.7	−0.084%	$1.9M	$2.3M	10x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0067%	1h	1,040.7	−0.083%	$73K	$493K	10x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,040.7	−0.079%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,041.5	−0.005%	$147K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,041.2	−0.030%	$5.2M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,042.3	+0.069%	$71K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,040.8	−0.071%	$827	$799	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0120%	1h	1,044.6	+0.292%	$749K	$1.2M	10x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,041.8	+0.023%	$1.5M	$2.0M	20x	as long as short
Phoenix MU	+0.0305%	1h	1,043.1	+0.148%	$534K	$271K	15x	as long as short