Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0249%/8h= −27.3% APRpaid last 24h −0.031%

Price spread now: Gate against Bullet−0.028%7-day average −0.034% · 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−$36as in the Price arb table

costs, in and out, $10k−$370.367% of the position

Long on Bullet Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.140%−$14 on $10k

Price spread, last 4 days (all we have)+0.030%+$3 · spread now −0.028%, 7d avg −0.034%

Together, before fees−0.110%−$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.034%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet MU-USD	1,038.3	0.0249	pay 0.0031% / 1h	50m 37s	$25K	$383K	10x
Short	Gate MU_USDT	1,038	0	get 0.0000% / 8h	4h 50m	$61.3M	$27.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.028%Rate

Funding earned: −$52.3
Price spread: −0.028% → −0.034%: $0.66
Slippage, 4 orders: −$13.69
Fee Bullet: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$88.33
Costs to cover: 0.367%
Break-even: never at this rate

Slippage from Bullet: live order book, 56 min ago; Gate: live order book, 1 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, 56 min ago	1.92 bp	8.3 bp −$8	20.4 bp −$204	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	0.77 bp	10.1 bp −$10	15.1 bp −$151	33.1 bp −$3,306	58.6 bp −$29.3K

MU on 37 exchanges

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	−0.0171%	4h	1,038.9	+0.059%	$1.3M	$695K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,038.7	+0.036%	$21.2M	$73.6M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,038.4	+0.009%	$121.9M	$554.0M	50x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,038.6	+0.024%	$29.8M	$106.8M	50x	as long as short
Gate MU_USDTshort	0.0000%	8h	1,038	−0.028%	$61.3M	$27.4M	75x
Bitget MUUSDT	0.0000%	8h	1,038.1	−0.022%	$19.8M	$43.6M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,038.2	−0.008%	$2.6M	$2.5M	—	as long as short
StandX MU-USD	0.0000%	1h	1,038.5	+0.016%	$188K	$3.7M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,040	+0.163%	$11K	$4.9M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,037.9	−0.036%	$119K	$472K	50x	as long as short

Show all 37 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH MU	+0.0032%	1h	1,037.9	−0.040%	$1.2M	$4.4M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.258%	$19K	$5K	12x	as long as short
Aftermath Perps MUUSD	+0.0038%	1h	1,038.4	+0.005%	$3K	$41K	10x	as long as short
RISEx MU/USDC	+0.0045%	1h	1,038.5	+0.021%	$298K	$333K	20x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,038.9	+0.058%	—	$177K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,038	−0.029%	$169K	$163K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,038.2	−0.014%	$683K	$14K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,037.3	−0.096%	$1.9M	$3.2M	10x	as long as short
QFEX MU-USD	+0.0059%	1h	1,038	−0.034%	$7.0M	$19.4M	10x	as long as short
Paradex MU-USD-PERP	+0.0078%	8h	1,037.9	−0.036%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,037.7	−0.060%	$32K	$1K	10x	as long as short
Bybit MUUSDT	+0.0082%	8h	1,038.6	+0.028%	$18.8M	$32.2M	100x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0087%	1h	1,037.6	−0.068%	$32K	$734K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,037.6	−0.072%	$151K	$227K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,038.1	−0.021%	$5.2M	$6.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,038.4	+0.006%	$70K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,038.2	−0.014%	$825	$799	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,038.5	+0.021%	$1.5M	$2.7M	20x	as long as short
Lighter MU	+0.0128%	1h	1,037.9	−0.041%	$1.0M	$4.9M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0136%	1h	1,037.9	−0.040%	$727K	$1.2M	10x	as long as short
Nado MU-PERP	+0.0140%	1h	1,037.5	−0.075%	$275K	$834K	10x	as long as short
GRVT MU_USDT_Perp	+0.0156%	8h	1,039.1	+0.082%	$72K	$1.4M	10x	as long as short
Arcus MU-USD	+0.0186%	1h	1,037.8	−0.052%	$90K	$159K	10x	as long as short
Bullet MU-USDlong	+0.0249%	1h	1,038.3	long leg	$25K	$383K	10x
tradeXYZ xyz:MU	+0.0251%	1h	1,037.9	−0.038%	$177.5M	$74.5M	10x	as long as short
Extended MU_24_5-USD	+0.0256%	1h	1,037.7	−0.059%	$551K	$1.1M	10x	as long as short
Phoenix MU	+0.0461%	1h	1,038.6	+0.029%	$532K	$159K	15x	as long as short