Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0024%/8h= +2.6% APRpaid last 24h −0.054%

Price spread now: GRVT against Coinbase International−0.062%7-day average +0.061% · you buy dearer than you sell

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$280.280% of the position

Long on Coinbase International Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.212%−$21 on $10k

Price spread, last 3 days (all we have)+0.163%+$16 · spread now −0.062%, 7d avg +0.061%

Together, before fees−0.048%+ Points / potential airdropGRVT: Active · farm board−$5 on $10k · with fees, hour by hour

Funding pays, the price is against you. GRVT is 0.123% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.062% now, against its 7-day average of +0.061%). If the spread goes back, that is −$12 on $10k: about 17 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.212%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MU-PERP-INTX	1,043.8	0.0152	pay 0.0019% / 1h	9m 15s	$756K	$1.4M	10x
Short	GRVT MU_USDT_Perp	1,043.2	0.0176	get 0.0176% / 8h	2h 09m	$82K	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.062%Rate

Funding earned: $5.04
Price spread: −0.062% → +0.061%: −$12.31
Slippage, 4 orders: −$9.03
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$35.3
Costs to cover: 0.280%
Break-even: 56.0 days

Slippage from Coinbase International: live order book, 4 min ago; GRVT: 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, 4 min ago	2.21 bp	7.7 bp −$8	13.9 bp −$139	80.7 bp −$8,075	doesn't fit
Sell GRVT live order book, 4 min ago	1.10 bp	6.2 bp −$6	10.1 bp −$101	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	−0.0291%	4h	1,043	−0.078%	$1.3M	$672K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,043	−0.081%	$21.5M	$46.4M	20x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,042.5	−0.126%	$30.7M	$104.2M	50x	as long as short
Gate MU_USDT	0.0000%	8h	1,042.4	−0.133%	$62.9M	$29.1M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,042.6	−0.114%	$188K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,044.5	+0.066%	$11K	$6.7M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,042.5	−0.126%	$125K	$442K	50x	as long as short
Aftermath Perps MUUSD	+0.0028%	1h	1,042.6	−0.113%	$3K	$44K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,042.3	−0.142%	$1.1M	$4.3M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.660%	$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
Vest MU-USD-PERP	+0.0046%	1h	1,042.2	−0.152%	—	$193K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,042.2	−0.155%	$165K	$180K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,042.5	−0.131%	$684K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,041.4	−0.231%	$2.0M	$2.6M	10x	as long as short
QFEX MU-USD	+0.0057%	1h	1,042.6	−0.120%	$7.8M	$24.1M	10x	as long as short
Bitget MUUSDT	+0.0072%	8h	1,042.4	−0.133%	$20.4M	$42.9M	50x	as long as short
Variational Omni MU	+0.0082%	8h	1,043	−0.079%	$2.7M	$2.7M	—	as long as short
Pacifica MU	+0.0100%	1h	1,041.9	−0.187%	$153K	$182K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,042.2	−0.153%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,041.9	−0.184%	$71K	$267K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,042.6	−0.120%	$829	$799	20x	as long as short
Aevo MU-PERP	+0.0104%	1h	1,042.4	−0.139%	$33K	—	10x	as long as short
Binance MUUSDT	+0.0107%	8h	1,042.6	−0.114%	$124.7M	$540.4M	50x	as long as short
Paradex MU-USD-PERP	+0.0118%	8h	1,042.5	−0.126%	$2K	—	5x	as long as short
Coinbase International MU-PERP-INTXlong	+0.0152%	1h	1,043.8	long leg	$756K	$1.4M	10x
GRVT MU_USDT_Perpshort	+0.0176%	8h	1,043.2	−0.062%	$82K	$1.4M	10x
Bybit MUUSDT	+0.0188%	8h	1,042.7	−0.105%	$19.1M	$32.5M	100x	as long as short
Lighter MU	+0.0192%	1h	1,042.4	−0.139%	$998K	$4.8M	20x	as long as short
Nado MU-PERP	+0.0194%	1h	1,041.7	−0.205%	$306K	$845K	10x	as long as short
RISEx MU/USDC	+0.0202%	1h	1,042.8	−0.095%	$285K	$333K	20x	as long as short
tradeXYZ xyz:MU	+0.0212%	1h	1,042.4	−0.136%	$176.2M	$107.2M	10x	as long as short
Arcus MU-USD	+0.0226%	1h	1,042.4	−0.139%	$63K	$230K	10x	as long as short
BloFin MU-USDT	+0.0227%	8h	1,043	−0.077%	$1.5M	$2.1M	20x	as long as short
Phoenix MU	+0.0230%	1h	1,043.3	−0.050%	$534K	$303K	15x	as long as short
Bullet MU-USD	+0.0231%	1h	1,042.7	−0.107%	$25K	$400K	10x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0268%	1h	1,042.5	−0.131%	$59K	$229K	10x	as long as short
Extended MU_24_5-USD	+0.0696%	1h	1,041.7	−0.205%	$540K	$1.1M	10x	as long as short