Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0789%/8h= −86.4% APRpaid last 24h −0.031%

Price spread now: GRVT against Bullet−0.026%7-day average −0.007% · 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−$30as in the Price arb table

costs, in and out, $10k−$280.283% of the position

Long on Bullet Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.083%−$8 on $10k

Price spread, last 3 days (all we have)+0.042%+$4 · spread now −0.026%, 7d avg −0.007%

Together, before fees−0.041%+ Points / potential airdropGRVT: Active · farm board−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.007%, so right now this pair is about funding alone: −$24 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.083% in total (about -9.4% 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	Bullet MU-USD	1,048.2	0.0984	pay 0.0123% / 1h	54m 53s	$26K	$394K	10x
Short	GRVT MU_USDT_Perp	1,048	0.0195	get 0.0195% / 8h	7h 54m	$82K	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.026%Rate

Funding earned: −$165.71
Price spread: −0.026% → −0.007%: −$1.89
Slippage, 4 orders: −$11.33
Fee Bullet: 4 bp × 2 orders: −$8
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$195.93
Costs to cover: 0.283%
Break-even: never at this rate

Slippage from Bullet: live order book, 19 min ago; GRVT: live order book, 3 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, 19 min ago	1.43 bp	8.5 bp −$9	20.4 bp −$204	doesn't fit	doesn't fit
Sell GRVT live order book, 3 min ago	1.15 bp	5.7 bp −$6	10.2 bp −$102	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	−0.0946%	4h	1,047	−0.123%	$1.3M	$671K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,048.6	+0.032%	$63.2M	$28.3M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,046.9	−0.130%	$189K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,049.9	+0.162%	$11K	$6.4M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,048	−0.028%	$130K	$418K	50x	as long as short
Aftermath Perps MUUSD	+0.0024%	1h	1,045.8	−0.233%	$3K	$44K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,048.2	−0.008%	$1.2M	$4.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.236%	$14K	$251	12x	as long as short
Lighter MU	+0.0040%	1h	1,048.3	+0.003%	$1.1M	$4.7M	20x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,048.7	+0.040%	—	$194K	25x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MU-USD.P	+0.0050%	1h	1,046.4	−0.173%	$2.0M	$2.2M	10x	as long as short
QFEX MU-USD	+0.0054%	1h	1,048.5	+0.020%	$7.9M	$23.5M	10x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0055%	1h	1,048	−0.025%	$62K	$291K	10x	as long as short
Nado MU-PERP	+0.0063%	1h	1,047.8	−0.040%	$271K	$863K	10x	as long as short
OKX MU-USDT-SWAP	+0.0088%	8h	1,049.1	+0.081%	$31.0M	$101.8M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,048.1	−0.015%	$153K	$180K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,047.6	−0.062%	$5.3M	$3.7M	20x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,048.3	+0.003%	$833	$799	20x	as long as short
Paradex MU-USD-PERP	+0.0106%	8h	1,048.2	−0.001%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0128%	1h	1,047.3	−0.093%	$34K	—	10x	as long as short
Bitget MUUSDT	+0.0138%	8h	1,048.8	+0.054%	$20.6M	$41.6M	50x	as long as short
Variational Omni MU	+0.0168%	8h	1,048.2	−0.008%	$2.7M	$2.5M	—	as long as short
Aster MUUSD1	+0.0175%	8h	1,048	−0.021%	$21.6M	$47.8M	20x	as long as short
Binance MUUSDT	+0.0183%	8h	1,048.9	+0.062%	$125.4M	$526.5M	50x	as long as short
Coinbase International MU-PERP-INTX	+0.0184%	1h	1,046.7	−0.151%	$759K	$1.3M	10x	as long as short
GRVT MU_USDT_Perpshort	+0.0195%	8h	1,048	−0.026%	$82K	$1.4M	10x
Arcus MU-USD	+0.0240%	1h	1,046.7	−0.144%	$71K	$243K	10x	as long as short
Bybit MUUSDT	+0.0265%	8h	1,049.1	+0.084%	$19.3M	$32.6M	100x	as long as short
BloFin MU-USDT	+0.0303%	8h	1,048.4	+0.016%	$1.5M	$2.0M	20x	as long as short
RISEx MU/USDC	+0.0312%	1h	1,048.5	+0.026%	$315K	$339K	20x	as long as short
SoDEX MU-USD	+0.0439%	1h	1,048.2	−0.009%	$688K	$16K	10x	as long as short
ApeX Omni MUUSDT	+0.0451%	1h	1,048.3	+0.008%	$71K	$267K	50x	as long as short
Phoenix MU	+0.0460%	1h	1,048	−0.023%	$536K	$306K	15x	as long as short
Extended MU_24_5-USD	+0.0536%	1h	1,044.4	−0.371%	$550K	$1.0M	10x	as long as short
Polymarket Perps MU-USD	+0.0708%	1h	1,047.3	−0.090%	$169K	$202K	10x	as long as short
Bullet MU-USDlong	+0.0984%	1h	1,048.2	long leg	$26K	$394K	10x
tradeXYZ xyz:MU	+0.1138%	1h	1,047.7	−0.052%	$177.6M	$100.3M	10x	as long as short