Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0034%/8h= −3.7% APRpaid last 24h −0.006%

Price spread now: Binance against Bullet+0.011%7-day average −0.017% · 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−$21as in the Price arb table

costs, in and out, $10k−$240.242% of the position

Long on Bullet Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.063%−$6 on $10k

Price spread, last 4 days (all we have)+0.182%+$18 · spread now +0.011%, 7d avg −0.017%

Together, before fees+0.119%+$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.028% dearer against Bullet than usual: you sell high and buy low (spread +0.011% now, against its 7-day average of −0.017%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet MU-USD	1,043.6	0.0034	pay 0.0004% / 1h	51m 25s	$26K	$392K	10x
Short	Binance MUUSDT	1,043.7	0	get 0.0000% / 8h	2h 51m	$123.0M	$526.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.011%Rate

Funding earned: −$7.09
Price spread: +0.011% → −0.017%: $2.81
Slippage, 4 orders: −$6.23
Fee Bullet: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$28.51
Costs to cover: 0.242%
Break-even: never at this rate

Slippage from Bullet: live order book, 63 min ago; Binance: live order book, 7 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, 63 min ago	0.48 bp	6.4 bp −$6	20.6 bp −$206	doesn't fit	doesn't fit
Sell Binance live order book, 7 min ago	0.05 bp	6.0 bp −$6	8.0 bp −$80	16.0 bp −$1,597	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	−0.0859%	4h	1,043	−0.055%	$1.3M	$672K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,044.1	+0.052%	$21.2M	$57.2M	20x	as long as short
Binance MUUSDTshort	0.0000%	8h	1,043.7	+0.011%	$123.0M	$526.3M	50x
Bybit MUUSDT	0.0000%	8h	1,043.7	+0.013%	$18.6M	$32.0M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,043.6	+0.004%	$30.5M	$100.0M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,043.6	+0.004%	$337K	$354K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,043.7	+0.005%	$61.9M	$27.9M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,043.8	+0.015%	$20.5M	$41.2M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,042.8	−0.074%	$2.7M	$2.4M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,043.5	−0.011%	$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	1,043.1	−0.053%	$189K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,045.5	+0.182%	$11K	$5.7M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,043.6	+0.003%	$73K	$501K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,043.3	−0.029%	$128K	$440K	50x	as long as short
Nado MU-PERP	+0.0018%	1h	1,043.3	−0.029%	$281K	$821K	10x	as long as short
Aftermath Perps MUUSD	+0.0019%	1h	1,042.2	−0.133%	$3K	$44K	10x	as long as short
QFEX MU-USD	+0.0023%	1h	1,043.6	−0.002%	$7.0M	$18.0M	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,043.9	+0.025%	$1.2M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,043	−0.055%	$546K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.744%	$19K	$5K	12x	as long as short
Bullet MU-USDlong	+0.0034%	1h	1,043.6	long leg	$26K	$392K	10x
Arcus MU-USD	+0.0040%	1h	1,042.7	−0.086%	$70K	$232K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,044.2	+0.059%	—	$176K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,043.5	−0.010%	$177.3M	$93.5M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,043.5	−0.010%	$169K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,043.3	−0.028%	$685K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,043	−0.062%	$1.9M	$2.3M	10x	as long as short
Paradex MU-USD-PERP	+0.0051%	8h	1,043.8	+0.018%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,043.2	−0.043%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,043.6	+0.002%	$147K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,043.6	−0.005%	$5.2M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,043.1	−0.044%	$71K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,043.7	+0.005%	$830	$799	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,043.3	−0.027%	$1.5M	$2.0M	20x	as long as short
Lighter MU	+0.0144%	1h	1,043.8	+0.019%	$1.1M	$4.9M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0144%	1h	1,043.3	−0.027%	$745K	$1.2M	10x	as long as short
Phoenix MU	+0.0231%	1h	1,043	−0.057%	$534K	$270K	15x	as long as short