Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0001%/8h= +0.1% APRpaid last 24h +0.045%

Price spread now: Coinbase International against Bybit+0.005%7-day average −0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$350.345% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.247%+$25 on $10k

Price spread, last 3 days (all we have)−0.068%−$7 · spread now +0.005%, 7d avg −0.038%

Together, before fees+0.180%+$18 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: Coinbase International is 0.043% dearer against Bybit than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MUUSDT	1,049.8	0.0183	pay 0.0183% / 8h	7h 36m	$19.2M	$32.6M	100x
Short	Coinbase International MU-PERP-INTX	1,049.8	0.0184	get 0.0023% / 1h	36m 16s	$760K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bybit. 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 BybitbpFee Coinbase InternationalbpOrdersPrice spread, now +0.005%Rate

Funding earned: $0.23
Price spread: +0.005% → −0.038%: $4.28
Slippage, 4 orders: −$13.51
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$30
Costs to cover: 0.345%
Break-even: 908.0 days

Slippage from Bybit: live order book, 2 min ago; Coinbase International: 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 Bybit live order book, 2 min ago	1.05 bp	8.3 bp −$8	11.0 bp −$110	33.6 bp −$3,356	doesn't fit
Sell Coinbase International live order book, 2 min ago	4.05 bp	9.1 bp −$9	9.1 bp −$91	67.3 bp −$6,726	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	−0.0674%	4h	1,050.2	+0.042%	$1.3M	$672K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,049.6	−0.019%	$62.8M	$28.8M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,049.3	−0.046%	$190K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,051.4	+0.153%	$11K	$6.2M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,049.5	−0.024%	$129K	$427K	50x	as long as short
Aftermath Perps MUUSD	+0.0022%	1h	1,049.6	−0.020%	$3K	$45K	10x	as long as short
Lighter MU	+0.0032%	1h	1,049.5	−0.028%	$1.1M	$4.7M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,049.4	−0.032%	$1.2M	$4.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.152%	$19K	$5K	12x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,050.6	+0.082%	—	$179K	25x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps MU-USD	+0.0050%	1h	1,049.4	−0.034%	$170K	$202K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,049.1	−0.063%	$1.9M	$2.3M	10x	as long as short
QFEX MU-USD	+0.0054%	1h	1,049.9	+0.010%	$7.8M	$22.8M	10x	as long as short
Nado MU-PERP	+0.0075%	1h	1,049.6	−0.013%	$275K	$858K	10x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0084%	1h	1,049.3	−0.049%	$63K	$299K	10x	as long as short
Paradex MU-USD-PERP	+0.0094%	8h	1,049.8	+0.005%	$2K	—	5x	as long as short
OKX MU-USDT-SWAP	+0.0097%	8h	1,049.5	−0.022%	$30.8M	$102.0M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,050.1	+0.032%	$148K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,049.8	+0.001%	$5.3M	$3.6M	20x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,049.7	−0.003%	$835	$799	20x	as long as short
ApeX Omni MUUSDT	+0.0118%	1h	1,049.3	−0.043%	$71K	$267K	50x	as long as short
SoDEX MU-USD	+0.0128%	1h	1,049.5	−0.022%	$689K	$16K	10x	as long as short
Aevo MU-PERP	+0.0136%	1h	1,049.3	−0.042%	$32K	$1K	10x	as long as short
Bybit MUUSDTlong	+0.0183%	8h	1,049.8	long leg	$19.2M	$32.6M	100x
Coinbase International MU-PERP-INTXshort	+0.0184%	1h	1,049.8	+0.005%	$760K	$1.2M	10x
Variational Omni MU	+0.0210%	8h	1,049.5	−0.025%	$2.7M	$2.4M	—	as long as short
Aster MUUSD1	+0.0215%	8h	1,049.2	−0.053%	$21.6M	$48.3M	20x	as long as short
Binance MUUSDT	+0.0222%	8h	1,049.7	−0.004%	$126.1M	$524.4M	50x	as long as short
Arcus MU-USD	+0.0240%	1h	1,049.8	+0.004%	$71K	$243K	10x	as long as short
Bullet MU-USD	+0.0283%	1h	1,049.7	−0.006%	$26K	$395K	10x	as long as short
RISEx MU/USDC	+0.0312%	1h	1,050.1	+0.029%	$316K	$339K	20x	as long as short
tradeXYZ xyz:MU	+0.0321%	1h	1,049.4	−0.034%	$178.0M	$101.1M	10x	as long as short
Bitget MUUSDT	+0.0330%	8h	1,049.7	−0.007%	$20.6M	$41.6M	50x	as long as short
BloFin MU-USDT	+0.0340%	8h	1,050.4	+0.060%	$1.5M	$2.0M	20x	as long as short
Phoenix MU	+0.0383%	1h	1,050.3	+0.051%	$537K	$306K	15x	as long as short
Extended MU_24_5-USD	+0.0456%	1h	1,048.9	−0.085%	$568K	$1.2M	10x	as long as short
GRVT MU_USDT_Perp	+0.0639%	8h	1,050.2	+0.045%	$83K	$1.4M	10x	as long as short