Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.039%

Price spread now: Bitget against Coinbase International−0.015%57s7-day average +0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$320.322% of the position

Long on Coinbase International Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.195%−$20 on $10k

Price spread, last 4 days (all we have)+0.069%+$7 · spread now −0.015%, 7d avg +0.038%

Together, before fees−0.126%−$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Bitget is 0.054% cheaper against Coinbase International than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.038%). Swap the legs. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MU-PERP-INTX	1,050	0.0120	pay 0.0015% / 1h	55m 25s	$757K	$1.2M	10x
Short	Bitget MUUSDT	1,049.9	0	get 0.0000% / 8h	3h 55m	$20.5M	$41.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.015%Rate

Funding earned: −$25.2
Price spread: −0.015% → +0.038%: −$5.36
Slippage, 4 orders: −$10.24
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$62.79
Costs to cover: 0.322%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; Bitget: live order book, 4 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, 3 min ago	2.90 bp	8.3 bp −$8	12.5 bp −$125	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	0.05 bp	7.6 bp −$8	9.9 bp −$99	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	−0.0879%	4h	1,050.2	+0.012%	$1.3M	$671K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,050.2	+0.015%	$21.4M	$55.0M	20x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,049.8	−0.022%	$31.2M	$99.5M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,050	−0.003%	$339K	$351K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,049.6	−0.040%	$62.6M	$27.5M	75x	as long as short
Bitget MUUSDTshort	0.0000%	8h	1,049.9	−0.015%	$20.5M	$41.3M	50x
Variational Omni MU	0.0000%	8h	1,049.7	−0.028%	$2.7M	$2.4M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,050.4	+0.040%	$81K	$1.4M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,049.5	−0.053%	$190K	$3.4M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,050.2	+0.015%	$11K	$5.8M	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX MU-USDT	0.0000%	8h	1,049.5	−0.048%	$130K	$430K	50x	as long as short
Bybit MUUSDT	+0.0007%	8h	1,049.9	−0.011%	$19.0M	$31.9M	100x	as long as short
Binance MUUSDT	+0.0015%	8h	1,049.8	−0.024%	$126.0M	$516.9M	50x	as long as short
Aftermath Perps MUUSD	+0.0023%	1h	1,049.8	−0.018%	$3K	$44K	10x	as long as short
QFEX MU-USD	+0.0032%	1h	1,049.7	−0.033%	$7.1M	$17.8M	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,049.8	−0.026%	$1.3M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,049.2	−0.083%	$566K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.127%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,049.9	−0.014%	$71K	$233K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,050.6	+0.051%	—	$176K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,049.3	−0.070%	$178.1M	$98.2M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,049.4	−0.060%	$170K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,049.7	−0.031%	$689K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,049.6	−0.038%	$1.9M	$2.2M	10x	as long as short
Paradex MU-USD-PERP	+0.0051%	8h	1,049.9	−0.009%	$2K	—	5x	as long as short
Nado MU-PERP	+0.0069%	1h	1,049.5	−0.053%	$282K	$835K	10x	as long as short
BloFin MU-USDT	+0.0073%	8h	1,050.3	+0.022%	$1.5M	$2.0M	20x	as long as short
Lighter MU	+0.0080%	1h	1,049.8	−0.021%	$1.1M	$5.0M	20x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0084%	1h	1,049.5	−0.055%	$73K	$456K	10x	as long as short
Bullet MU-USD	+0.0084%	1h	1,049.7	−0.029%	$26K	$395K	10x	as long as short
Aevo MU-PERP	+0.0088%	1h	1,049.4	−0.059%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,049.6	−0.039%	$148K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,049.6	−0.043%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,050.3	+0.022%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,049.9	−0.017%	$835	$799	20x	as long as short
Coinbase International MU-PERP-INTXlong	+0.0120%	1h	1,050	long leg	$757K	$1.2M	10x
Phoenix MU	+0.0304%	1h	1,050.6	+0.054%	$537K	$271K	15x	as long as short