Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0126%/8h= +13.8% APRpaid last 24h +0.015%

Price spread now: Deribit against Bybit−0.013%7-day average −0.025% · 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−$40as in the Price arb table

costs, in and out, $10k−$410.412% of the position

Long on Bybit Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.011%+$1 on $10k

Price spread, last 4 days (all we have)−0.027%−$3 · spread now −0.013%, 7d avg −0.025%

Together, before fees−0.016%−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.025%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MUUSDT	1,038.5	0	get 0.0000% / 8h	1h 06m	$18.7M	$32.3M	100x
Short	Deribit MU_USDC-PERPETUAL	1,038.4	0.0126	get 0.0016% / 1h	6m 08s	$74K	$577K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.013%Rate

Funding earned: $26.4
Price spread: −0.013% → −0.025%: $1.25
Slippage, 4 orders: −$23.23
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$13.58
Costs to cover: 0.412%
Break-even: 10.6 days

Slippage from Bybit: live order book, 3 min ago; Deribit: live order book, 38 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, 3 min ago	0.29 bp	7.4 bp −$7	11.6 bp −$116	40.1 bp −$4,013	doesn't fit
Sell Deribit live order book, 38 min ago	0.05 bp	11.4 bp −$11	16.8 bp −$168	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	−0.0729%	4h	1,038.8	+0.026%	$1.3M	$672K	10x	as long as short
Bitget MUUSDT	−0.0144%	8h	1,038.7	+0.019%	$20.2M	$40.4M	50x	as long as short
Nado MU-PERP	−0.0008%	1h	1,038.3	−0.021%	$279K	$810K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,038.8	+0.028%	$21.2M	$63.1M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,038.5	+0.002%	$122.2M	$538.8M	50x	as long as short
Bybit MUUSDTlong	0.0000%	8h	1,038.5	long leg	$18.7M	$32.3M	100x
OKX MU-USDT-SWAP	0.0000%	8h	1,038.6	+0.005%	$29.8M	$100.2M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,038.6	+0.014%	$313K	$387K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,038.4	−0.013%	$61.5M	$28.7M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,039.1	+0.053%	$2.5M	$2.6M	—	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MU_USDT_Perp	0.0000%	8h	1,039.1	+0.062%	$84K	$1.4M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,038.6	+0.012%	$188K	$3.5M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,038.6	+0.007%	$24K	$390K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,040	+0.143%	$11K	$5.6M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,038.2	−0.026%	$128K	$442K	50x	as long as short
Aftermath Perps MUUSD	+0.0014%	1h	1,038.5	−0.005%	$3K	$44K	10x	as long as short
Lighter MU	+0.0032%	1h	1,038.6	+0.008%	$1.0M	$5.0M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,038.4	−0.008%	$1.2M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,037.8	−0.070%	$537K	$1.1M	10x	as long as short
QFEX MU-USD	+0.0032%	1h	1,038.3	−0.018%	$7.0M	$18.8M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.238%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,038.2	−0.027%	$90K	$244K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,038.6	+0.009%	—	$175K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,038.4	−0.010%	$176.5M	$85.5M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,038.3	−0.019%	$169K	$195K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,038.4	−0.007%	$681K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,038.1	−0.043%	$1.8M	$2.7M	10x	as long as short
Paradex MU-USD-PERP	+0.0051%	8h	1,038.8	+0.025%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,038	−0.045%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,038.4	−0.012%	$147K	$189K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,038.2	−0.031%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,039	+0.050%	$70K	$270K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,038.3	−0.017%	$825	$799	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0104%	1h	1,038.8	+0.027%	$734K	$1.2M	10x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,039	+0.050%	$1.4M	$2.1M	20x	as long as short
Deribit MU_USDC-PERPETUALshort	+0.0126%	1h	1,038.4	−0.013%	$74K	$577K	10x
Phoenix MU	+0.0231%	1h	1,039.2	+0.067%	$532K	$270K	15x	as long as short