Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.053%

Price spread now: HTX against Bullet−0.005%50s7-day average −0.015% · 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—prices read too far apart to compare

costs, in and out, $10k−$320.320% of the position

Long on Bullet Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.129%−$13 on $10k

Price spread, last 3 days (all we have)+0.001%$0 · spread now −0.005%, 7d avg −0.015%

Together, before fees−0.128%−$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.015%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet MU-USD	1,045.7	0.0104	pay 0.0013% / 1h	15m 28s	$25K	$395K	10x
Short	HTX MU-USDT	1,045.7	0	get 0.0000% / 8h	15m 28s	$129K	$456K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.005%Rate

Funding earned: −$21.92
Price spread: −0.005% → −0.015%: $1.02
Slippage, 4 orders: −$11.95
Fee Bullet: 4 bp × 2 orders: −$8
Fee HTX: 6 bp × 2 orders: −$12
Net: −$52.86
Costs to cover: 0.320%
Break-even: never at this rate

Slippage from Bullet: live order book, 64 min ago; HTX: live order book, 63 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, 64 min ago	0.48 bp	6.2 bp −$6	19.3 bp −$193	doesn't fit	doesn't fit
Sell HTX live order book, 63 min ago	3.69 bp	9.7 bp −$10	9.9 bp −$99	16.7 bp −$1,673	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	−0.0252%	4h	1,045.9	+0.016%	$1.3M	$674K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,045.6	−0.014%	$63.0M	$29.1M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,045.5	−0.021%	$189K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,047.5	+0.175%	$11K	$6.5M	10x	as long as short
HTX MU-USDTshort	0.0000%	8h	1,045.7	−0.005%	$129K	$456K	50x
Aftermath Perps MUUSD	+0.0028%	1h	1,045.5	−0.021%	$3K	$45K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,045.7	−0.005%	$1.2M	$4.3M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.479%	$14K	$302	12x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,046.1	+0.037%	—	$194K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,045.5	−0.019%	$169K	$193K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX MU-USD	+0.0050%	1h	1,045.7	−0.005%	$686K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,044.7	−0.097%	$2.0M	$2.7M	10x	as long as short
OKX MU-USDT-SWAP	+0.0070%	8h	1,045.7	−0.003%	$30.8M	$104.7M	50x	as long as short
Lighter MU	+0.0072%	1h	1,045.5	−0.017%	$1.0M	$4.9M	20x	as long as short
QFEX MU-USD	+0.0080%	1h	1,045.7	−0.001%	$7.9M	$23.9M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,045.4	−0.030%	$153K	$183K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,045.5	−0.016%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,046	+0.027%	$71K	$266K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,045.8	+0.006%	$831	$799	20x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0104%	1h	1,045.6	−0.008%	$62K	$282K	10x	as long as short
Bullet MU-USDlong	+0.0104%	1h	1,045.7	long leg	$25K	$395K	10x
Paradex MU-USD-PERP	+0.0106%	8h	1,045.7	+0.002%	$2K	—	5x	as long as short
Bitget MUUSDT	+0.0116%	8h	1,045.6	−0.008%	$20.5M	$43.5M	50x	as long as short
Aevo MU-PERP	+0.0128%	1h	1,045.6	−0.009%	$33K	—	10x	as long as short
Nado MU-PERP	+0.0154%	1h	1,045.4	−0.033%	$271K	$875K	10x	as long as short
Aster MUUSD1	+0.0165%	8h	1,046.3	+0.055%	$21.5M	$47.3M	20x	as long as short
Variational Omni MU	+0.0178%	8h	1,045.8	+0.006%	$2.7M	$2.5M	—	as long as short
tradeXYZ xyz:MU	+0.0184%	1h	1,045.5	−0.019%	$176.7M	$104.6M	10x	as long as short
Binance MUUSDT	+0.0188%	8h	1,045.7	+0.001%	$124.4M	$532.0M	50x	as long as short
GRVT MU_USDT_Perp	+0.0218%	8h	1,045.9	+0.017%	$82K	$1.4M	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0224%	1h	1,044.9	−0.075%	$757K	$1.3M	10x	as long as short
Bybit MUUSDT	+0.0262%	8h	1,045.8	+0.013%	$19.2M	$32.4M	100x	as long as short
BloFin MU-USDT	+0.0310%	8h	1,045.9	+0.021%	$1.5M	$2.0M	20x	as long as short
Extended MU_24_5-USD	+0.0360%	1h	1,045.2	−0.050%	$545K	$1.1M	10x	as long as short
Phoenix MU	+0.0460%	1h	1,046	+0.029%	$535K	$306K	15x	as long as short
Arcus MU-USD	+0.0462%	1h	1,045.7	−0.002%	$70K	$244K	10x	as long as short
RISEx MU/USDC	+0.0525%	1h	1,046.1	+0.034%	$316K	$339K	20x	as long as short