Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0128%/8h= −14.0% APRpaid last 24h −0.066%

Price spread now: Gate against Coinbase International+0.040%7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$360.355% of the position

Long on Coinbase International Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.365%−$36 on $10k

Price spread, last 3 days (all we have)−0.018%−$2 · spread now +0.040%, 7d avg +0.008%

Together, before fees−0.383%−$38 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.032% dearer against Coinbase International than usual: you sell high and buy low (spread +0.040% now, against its 7-day average of +0.008%): +$3 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 20 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MU-PERP-INTX	1,050.3	0.0128	pay 0.0016% / 1h	23m 56s	$757K	$1.2M	10x
Short	Gate MU_USDT	1,050.7	0	get 0.0000% / 8h	6h 23m	$62.1M	$27.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.040%Rate

Funding earned: −$26.88
Price spread: +0.040% → +0.008%: $3.15
Slippage, 4 orders: −$10.55
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$59.27
Costs to cover: 0.355%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; Gate: live order book, 5 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, 5 min ago	0.05 bp	5.0 bp −$5	12.2 bp −$122	56.5 bp −$5,648	doesn't fit
Sell Gate live order book, 5 min ago	0.67 bp	10.9 bp −$11	16.9 bp −$169	34.2 bp −$3,420	54.9 bp −$27.5K

MU on 36 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	−0.0953%	4h	1,050.1	−0.017%	$1.3M	$670K	10x	as long as short
Nado MU-PERP	−0.0005%	1h	1,050.3	−0.002%	$276K	$855K	10x	as long as short
Bybit MUUSDT	0.0000%	8h	1,050.8	+0.053%	$19.2M	$32.6M	100x	as long as short
Gate MU_USDTshort	0.0000%	8h	1,050.7	+0.040%	$62.1M	$27.7M	75x
StandX MU-USD	0.0000%	1h	1,050	−0.023%	$190K	$3.4M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,051.1	+0.075%	$25K	$395K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,052.2	+0.186%	$11K	$6.0M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,050.8	+0.046%	$66K	$336K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,050.5	+0.024%	$129K	$427K	50x	as long as short
Aftermath Perps MUUSD	+0.0019%	1h	1,049.7	−0.051%	$3K	$45K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MU	+0.0032%	1h	1,051.1	+0.080%	$1.1M	$4.8M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,050.9	+0.058%	$1.1M	$4.2M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,050.3	+0.006%	$567K	$1.1M	10x	as long as short
QFEX MU-USD	+0.0040%	1h	1,050.8	+0.053%	$7.4M	$19.6M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,050	−0.027%	$71K	$236K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,051.8	+0.140%	—	$177K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,050.7	+0.040%	$178.3M	$99.6M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,050.8	+0.050%	$171K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,050.9	+0.059%	$690K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,049.5	−0.078%	$1.9M	$2.4M	10x	as long as short
OKX MU-USDT-SWAP	+0.0059%	8h	1,050.8	+0.050%	$30.8M	$100.7M	50x	as long as short
Paradex MU-USD-PERP	+0.0064%	8h	1,051.1	+0.083%	$2K	—	5x	as long as short
GRVT MU_USDT_Perp	+0.0082%	8h	1,050.1	−0.014%	$81K	$1.3M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,050.9	+0.055%	$149K	$187K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,050.4	+0.013%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,049.2	−0.103%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050.9	+0.060%	$835	$799	20x	as long as short
Injective MU/USDC PERP	+0.0107%	1h	1,051.4	+0.103%	$19K	$5K	12x	as long as short
Coinbase International MU-PERP-INTXlong	+0.0128%	1h	1,050.3	long leg	$757K	$1.2M	10x
Aevo MU-PERP	+0.0136%	1h	1,050.6	+0.033%	$32K	$1K	10x	as long as short
Aster MUUSD1	+0.0173%	8h	1,050.7	+0.044%	$21.6M	$51.4M	20x	as long as short
Variational Omni MU	+0.0186%	8h	1,050.5	+0.020%	$2.7M	$2.4M	—	as long as short
Binance MUUSDT	+0.0203%	8h	1,050.7	+0.036%	$126.7M	$524.1M	50x	as long as short
Bitget MUUSDT	+0.0245%	8h	1,050.6	+0.033%	$20.6M	$42.0M	50x	as long as short
Phoenix MU	+0.0304%	1h	1,050.8	+0.050%	$537K	$273K	15x	as long as short
RISEx MU/USDC	+0.0507%	1h	1,051	+0.066%	$334K	$348K	20x	as long as short