Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0184%/8h= −20.1% APRpaid last 24h −0.071%

Price spread now: HTX against Coinbase International+0.061%7-day average +0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$360.362% of the position

Long on Coinbase International Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.367%−$37 on $10k

Price spread, last 3 days (all we have)+0.032%+$3 · spread now +0.061%, 7d avg +0.035%

Together, before fees−0.335%−$33 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.026% dearer against Coinbase International than usual: you sell high and buy low (spread +0.061% now, against its 7-day average of +0.035%): +$3 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 11 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MU-PERP-INTX	1,050.5	0.0184	pay 0.0023% / 1h	4m 06s	$762K	$1.2M	10x
Short	HTX MU-USDT	1,051.1	0	get 0.0000% / 8h	7h 04m	$129K	$424K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.061%Rate

Funding earned: −$38.64
Price spread: +0.061% → +0.035%: $2.61
Slippage, 4 orders: −$14.17
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$72.2
Costs to cover: 0.362%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; HTX: 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	1.81 bp	7.7 bp −$8	12.3 bp −$123	61.2 bp −$6,119	doesn't fit
Sell HTX live order book, 4 min ago	3.09 bp	9.8 bp −$10	11.0 bp −$110	25.9 bp −$2,588	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	−0.0631%	4h	1,051.5	+0.096%	$1.3M	$671K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,050.9	+0.041%	$62.7M	$29.1M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,050.5	−0.001%	$190K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,052	+0.147%	$11K	$6.1M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,050.8	+0.027%	$65K	$312K	10x	as long as short
HTX MU-USDTshort	0.0000%	8h	1,051.1	+0.061%	$129K	$424K	50x
Aftermath Perps MUUSD	+0.0022%	1h	1,051.1	+0.055%	$3K	$45K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,051	+0.045%	$1.2M	$4.2M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.084%	$19K	$5K	12x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,052.2	+0.162%	—	$179K	25x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps MU-USD	+0.0050%	1h	1,051.2	+0.069%	$171K	$203K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,050.4	−0.012%	$2.0M	$2.3M	10x	as long as short
QFEX MU-USD	+0.0054%	1h	1,051.3	+0.079%	$7.6M	$21.1M	10x	as long as short
Lighter MU	+0.0056%	1h	1,051	+0.048%	$1.1M	$4.8M	20x	as long as short
SoDEX MU-USD	+0.0057%	1h	1,050.9	+0.043%	$690K	$16K	10x	as long as short
Paradex MU-USD-PERP	+0.0084%	8h	1,051.6	+0.107%	$2K	—	5x	as long as short
Nado MU-PERP	+0.0086%	1h	1,051.2	+0.066%	$274K	$858K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,051.3	+0.074%	$149K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,051.1	+0.056%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,050.6	+0.015%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050.7	+0.022%	$835	$799	20x	as long as short
OKX MU-USDT-SWAP	+0.0107%	8h	1,051	+0.050%	$30.9M	$101.6M	50x	as long as short
Aevo MU-PERP	+0.0152%	1h	1,050.8	+0.035%	$32K	$1K	10x	as long as short
Bullet MU-USD	+0.0172%	1h	1,051.3	+0.078%	$26K	$396K	10x	as long as short
Coinbase International MU-PERP-INTXlong	+0.0184%	1h	1,050.5	long leg	$762K	$1.2M	10x
Bybit MUUSDT	+0.0196%	8h	1,051.3	+0.074%	$19.4M	$32.6M	100x	as long as short
tradeXYZ xyz:MU	+0.0197%	1h	1,050.8	+0.030%	$178.5M	$100.2M	10x	as long as short
Arcus MU-USD	+0.0240%	1h	1,051.2	+0.067%	$71K	$242K	10x	as long as short
Variational Omni MU	+0.0256%	8h	1,051.6	+0.102%	$2.7M	$2.4M	—	as long as short
Aster MUUSD1	+0.0267%	8h	1,051	+0.047%	$21.6M	$48.4M	20x	as long as short
Binance MUUSDT	+0.0270%	8h	1,051	+0.047%	$126.3M	$521.5M	50x	as long as short
Extended MU_24_5-USD	+0.0296%	1h	1,050.6	+0.008%	$564K	$1.1M	10x	as long as short
RISEx MU/USDC	+0.0312%	1h	1,051.5	+0.097%	$316K	$339K	20x	as long as short
Phoenix MU	+0.0383%	1h	1,051.6	+0.107%	$538K	$306K	15x	as long as short
BloFin MU-USDT	+0.0389%	8h	1,051.5	+0.097%	$1.5M	$2.0M	20x	as long as short
Bitget MUUSDT	+0.0418%	8h	1,051.2	+0.064%	$20.6M	$41.6M	50x	as long as short
GRVT MU_USDT_Perp	+0.0569%	8h	1,051.2	+0.068%	$83K	$1.3M	10x	as long as short