Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0008%/8h= −0.9% APRpaid last 24h −0.022%

Price spread now: OKX against Bullet−0.051%7-day average −0.013% · 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−$28as in the Price arb table

costs, in and out, $10k−$240.240% of the position

Long on Bullet Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.085%−$9 on $10k

Price spread, last 4 days (all we have)+0.157%+$16 · spread now −0.051%, 7d avg −0.013%

Together, before fees+0.071%+$7 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.038% cheaper against Bullet than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet MU-USD	1,038.2	0.0008	pay 0.0001% / 1h	11m 45s	$25K	$388K	10x
Short	OKX MU-USDT-SWAP	1,037.7	0	get 0.0000% / 8h	11m 45s	$29.8M	$100.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.051%Rate

Funding earned: −$1.66
Price spread: −0.051% → −0.013%: −$3.83
Slippage, 4 orders: −$6.03
Fee Bullet: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$29.52
Costs to cover: 0.240%
Break-even: never at this rate

Slippage from Bullet: live order book, 27 min ago; OKX: 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, 27 min ago	0.48 bp	6.3 bp −$6	20.2 bp −$202	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.05 bp	5.1 bp −$5	6.6 bp −$66	19.1 bp −$1,910	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	−0.0799%	4h	1,038.2	0.000%	$1.3M	$674K	10x	as long as short
Bitget MUUSDT	−0.0156%	8h	1,038.1	−0.010%	$20.2M	$40.0M	50x	as long as short
Aster MUUSD1	0.0000%	8h	1,038.4	+0.015%	$21.2M	$66.9M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,037.9	−0.033%	$122.3M	$538.4M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,037.9	−0.029%	$18.8M	$32.3M	100x	as long as short
OKX MU-USDT-SWAPshort	0.0000%	8h	1,037.7	−0.051%	$29.8M	$100.0M	50x
RISEx MU/USDC	0.0000%	1h	1,038.3	+0.012%	$313K	$384K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,037.8	−0.043%	$61.5M	$28.4M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,038	−0.020%	$2.5M	$2.6M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,038.4	+0.017%	$71K	$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	1,038.7	+0.044%	$188K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,039.4	+0.118%	$11K	$5.5M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,037.9	−0.031%	$74K	$617K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,038.2	+0.002%	$126K	$482K	50x	as long as short
Bullet MU-USDlong	+0.0008%	1h	1,038.2	long leg	$25K	$388K	10x
Nado MU-PERP	+0.0016%	1h	1,038	−0.019%	$280K	$805K	10x	as long as short
Aftermath Perps MUUSD	+0.0018%	1h	1,038.1	−0.005%	$3K	$44K	10x	as long as short
QFEX MU-USD	+0.0021%	1h	1,038.1	−0.011%	$7.0M	$18.7M	10x	as long as short
Lighter MU	+0.0032%	1h	1,037.9	−0.025%	$1.0M	$4.9M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,037.9	−0.033%	$1.1M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,037.4	−0.073%	$545K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.268%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,037.9	−0.034%	$90K	$245K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,038.4	+0.021%	—	$175K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,037.6	−0.058%	$176.3M	$81.5M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,038	−0.019%	$168K	$177K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,037.8	−0.037%	$681K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,038	−0.015%	$1.9M	$2.7M	10x	as long as short
Paradex MU-USD-PERP	+0.0050%	8h	1,038.1	−0.008%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,037.5	−0.064%	$32K	$1K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0080%	1h	1,038.3	+0.013%	$726K	$1.2M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,037.8	−0.034%	$144K	$192K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,037.8	−0.039%	$5.2M	$4.1M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,038	−0.022%	$70K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,037.9	−0.029%	$825	$799	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,038.7	+0.049%	$1.5M	$2.1M	20x	as long as short
Phoenix MU	+0.0232%	1h	1,038.9	+0.067%	$531K	$270K	15x	as long as short