Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0152%/8h= −16.6% APRpaid last 24h −0.069%

Price spread now: Aster against Coinbase International+0.131%7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$240.241% of the position

Long on Coinbase International Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.344%−$34 on $10k

Price spread, last 3 days (all we have)−0.005%−$1 · spread now +0.131%, 7d avg +0.043%

Together, before fees−0.349%+ Points / potential airdropAster: Stage 5 · farm board−$35 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.089% dearer against Coinbase International than usual: you sell high and buy low (spread +0.131% now, against its 7-day average of +0.043%): +$9 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 47 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MU-PERP-INTX	1,043.3	0.0152	pay 0.0019% / 1h	26m 48s	$756K	$1.8M	10x
Short	Aster MUUSD1	1,044.6	0	get 0.0000% / 8h	2h 26m	$21.5M	$43.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Coinbase International. 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 Coinbase InternationalbpFee AsterbpOrdersPrice spread, now +0.131%Rate

Funding earned: −$31.92
Price spread: +0.131% → +0.043%: $8.85
Slippage, 4 orders: −$6.14
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$47.21
Costs to cover: 0.241%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; Aster: 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 Coinbase International live order book, 2 min ago	1.20 bp	7.4 bp −$7	12.4 bp −$124	76.3 bp −$7,632	doesn't fit
Sell Aster live order book, 2 min ago	0.86 bp	5.6 bp −$6	9.2 bp −$92	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	−0.0845%	4h	1,043.7	+0.046%	$1.3M	$674K	10x	as long as short
Aster MUUSD1short	0.0000%	8h	1,044.6	+0.131%	$21.5M	$43.2M	20x
OKX MU-USDT-SWAP	0.0000%	8h	1,044.2	+0.086%	$30.7M	$104.4M	50x	as long as short
Gate MU_USDT	0.0000%	8h	1,044.2	+0.092%	$63.0M	$28.9M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,043	−0.024%	$189K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,046.1	+0.272%	$11K	$6.7M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,043.9	+0.058%	$125K	$443K	50x	as long as short
Aftermath Perps MUUSD	+0.0023%	1h	1,043.7	+0.043%	$3K	$44K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,044	+0.073%	$1.1M	$4.3M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.715%	$14K	$302	12x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MU	+0.0038%	8h	1,043.9	+0.062%	$2.7M	$2.7M	—	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,043.9	+0.060%	—	$193K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,043.6	+0.034%	$165K	$176K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,043.1	−0.019%	$2.0M	$2.7M	10x	as long as short
QFEX MU-USD	+0.0057%	1h	1,044.2	+0.093%	$7.8M	$24.1M	10x	as long as short
SoDEX MU-USD	+0.0057%	1h	1,044.3	+0.096%	$685K	$16K	10x	as long as short
Bitget MUUSDT	+0.0061%	8h	1,044.1	+0.083%	$20.5M	$42.9M	50x	as long as short
Binance MUUSDT	+0.0076%	8h	1,044.3	+0.099%	$124.8M	$540.3M	50x	as long as short
Aevo MU-PERP	+0.0096%	1h	1,044	+0.068%	$33K	—	10x	as long as short
Pacifica MU	+0.0100%	1h	1,043.4	+0.010%	$153K	$182K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,043.6	+0.030%	$5.2M	$4.0M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,043.5	+0.020%	$71K	$267K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,044.3	+0.097%	$830	$799	20x	as long as short
Paradex MU-USD-PERP	+0.0109%	8h	1,043.8	+0.054%	$2K	—	5x	as long as short
GRVT MU_USDT_Perp	+0.0126%	8h	1,043.9	+0.060%	$82K	$1.4M	10x	as long as short
Coinbase International MU-PERP-INTXlong	+0.0152%	1h	1,043.3	long leg	$756K	$1.8M	10x
Bybit MUUSDT	+0.0163%	8h	1,044.6	+0.127%	$19.1M	$32.5M	100x	as long as short
tradeXYZ xyz:MU	+0.0182%	1h	1,044.2	+0.091%	$176.5M	$107.0M	10x	as long as short
Nado MU-PERP	+0.0194%	1h	1,043.2	0.000%	$307K	$845K	10x	as long as short
BloFin MU-USDT	+0.0196%	8h	1,044.2	+0.092%	$1.5M	$2.1M	20x	as long as short
RISEx MU/USDC	+0.0202%	1h	1,044.1	+0.082%	$288K	$331K	20x	as long as short
Lighter MU	+0.0224%	1h	1,044.2	+0.092%	$1.0M	$4.8M	20x	as long as short
Arcus MU-USD	+0.0226%	1h	1,044	+0.075%	$63K	$236K	10x	as long as short
Bullet MU-USD	+0.0229%	1h	1,044.2	+0.090%	$25K	$399K	10x	as long as short
Phoenix MU	+0.0230%	1h	1,044.1	+0.081%	$534K	$303K	15x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0325%	1h	1,044	+0.076%	$57K	$213K	10x	as long as short
Extended MU_24_5-USD	+0.0632%	1h	1,042.8	−0.041%	$539K	$1.0M	10x	as long as short