Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0015%/8h= −1.6% APRpaid last 24h −0.044%

Price spread now: Binance against Coinbase International+0.055%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$270.268% of the position

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.196%−$20 on $10k

Price spread, last 2 days (all we have)+0.309%+$31 · spread now +0.055%, 7d avg +0.026%

Together, before fees+0.112%+$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.029% dearer against Coinbase International than usual: you sell high and buy low (spread +0.055% now, against its 7-day average of +0.026%): +$3 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 6.6 days. At the pace of the last 7 days (−0.196% in total) that is about 25 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MU-PERP-INTX	1,045.6	0.0224	pay 0.0028% / 1h	47m 13s	$757K	$1.4M	10x
Short	Binance MUUSDT	1,046.1	0.0209	get 0.0209% / 8h	47m 13s	$124.9M	$533.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.055%Rate

Funding earned: −$3.12
Price spread: +0.055% → +0.026%: $2.93
Slippage, 4 orders: −$6.82
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$27.01
Costs to cover: 0.268%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 1 min ago; Binance: live order book, 12 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, 1 min ago	3.11 bp	8.1 bp −$8	12.4 bp −$124	doesn't fit	doesn't fit
Sell Binance live order book, 12 min ago	0.05 bp	5.6 bp −$6	7.4 bp −$74	16.1 bp −$1,611	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	−0.0477%	4h	1,045.5	−0.008%	$1.3M	$673K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,045.7	+0.014%	$63.0M	$28.9M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,044.9	−0.062%	$189K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,048.4	+0.271%	$11K	$6.6M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,045.8	+0.027%	$124K	$446K	50x	as long as short
Lighter RH MU	+0.0032%	1h	1,046.1	+0.051%	$1.2M	$4.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.494%	$14K	$302	12x	as long as short
Aftermath Perps MUUSD	+0.0036%	1h	1,044.7	−0.080%	$3K	$45K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,045.8	+0.026%	—	$194K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,045.6	+0.005%	$166K	$197K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MU-USD.P	+0.0050%	1h	1,044.6	−0.088%	$2.0M	$2.7M	10x	as long as short
OKX MU-USDT-SWAP	+0.0079%	8h	1,046.1	+0.049%	$30.8M	$105.2M	50x	as long as short
QFEX MU-USD	+0.0080%	1h	1,045.9	+0.030%	$7.9M	$23.9M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,046	+0.041%	$153K	$182K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,045.1	−0.040%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,045.9	+0.032%	$71K	$266K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,046.2	+0.057%	$832	$799	20x	as long as short
SoDEX MU-USD	+0.0132%	1h	1,046.1	+0.051%	$687K	$16K	10x	as long as short
Bitget MUUSDT	+0.0135%	8h	1,046	+0.047%	$20.5M	$43.6M	50x	as long as short
Aevo MU-PERP	+0.0136%	1h	1,045.9	+0.035%	$33K	—	10x	as long as short
Paradex MU-USD-PERP	+0.0158%	8h	1,045.9	+0.033%	$2K	—	5x	as long as short
Aster MUUSD1	+0.0160%	8h	1,046.3	+0.073%	$21.6M	$47.3M	20x	as long as short
Variational Omni MU	+0.0189%	8h	1,045.5	−0.005%	$2.6M	$2.5M	—	as long as short
Lighter MU	+0.0200%	1h	1,046.1	+0.053%	$1.0M	$4.8M	20x	as long as short
Binance MUUSDTshort	+0.0209%	8h	1,046.1	+0.055%	$124.9M	$533.0M	50x
Coinbase International MU-PERP-INTXlong	+0.0224%	1h	1,045.6	long leg	$757K	$1.4M	10x
GRVT MU_USDT_Perp	+0.0253%	8h	1,045.7	+0.018%	$77K	$1.4M	10x	as long as short
Nado MU-PERP	+0.0265%	1h	1,045.3	−0.020%	$270K	$875K	10x	as long as short
Bullet MU-USD	+0.0265%	1h	1,046	+0.043%	$24K	$396K	10x	as long as short
Bybit MUUSDT	+0.0284%	8h	1,046.2	+0.058%	$19.2M	$32.6M	100x	as long as short
tradeXYZ xyz:MU	+0.0314%	1h	1,045.9	+0.033%	$176.8M	$105.6M	10x	as long as short
BloFin MU-USDT	+0.0329%	8h	1,046.4	+0.077%	$1.4M	$2.0M	20x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0353%	1h	1,045.9	+0.036%	$62K	$257K	10x	as long as short
Phoenix MU	+0.0460%	1h	1,045.9	+0.033%	$535K	$306K	15x	as long as short
Arcus MU-USD	+0.0462%	1h	1,045.5	−0.010%	$74K	$240K	10x	as long as short
RISEx MU/USDC	+0.0525%	1h	1,046.2	+0.066%	$317K	$339K	20x	as long as short
Extended MU_24_5-USD	+0.0720%	1h	1,045.1	−0.046%	$540K	$1.1M	10x	as long as short