Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0251%/8h= −27.4% APRpaid last 24h −0.023%

Price spread now: Bitget against Deribit+0.022%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$450.451% of the position

Long on Deribit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.014%−$1 on $10k

Price spread, last 3 days (all we have)+0.043%+$4 · spread now +0.022%, 7d avg +0.026%

Together, before fees+0.029%+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.026%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.014% in total (about -1.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MU_USDC-PERPETUAL	1,043.7	0.0316	pay 0.0039% / 1h	24m 13s	$57K	$216K	10x
Short	Bitget MUUSDT	1,043.9	0.0065	get 0.0065% / 8h	2h 24m	$20.5M	$42.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Deribit. 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 DeribitbpFee BitgetbpOrdersPrice spread, now +0.022%Rate

Funding earned: −$52.63
Price spread: +0.022% → +0.026%: −$0.37
Slippage, 4 orders: −$26.07
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$98.07
Costs to cover: 0.451%
Break-even: never at this rate

Slippage from Deribit: live order book, 64 min ago; Bitget: 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 Deribit live order book, 64 min ago	2.16 bp	15.3 bp −$15	18.2 bp −$182	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	0.05 bp	7.8 bp −$8	9.7 bp −$97	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	−0.0044%	4h	1,044.1	+0.044%	$1.3M	$672K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,044.4	+0.068%	$21.5M	$43.8M	20x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,044.2	+0.047%	$30.7M	$104.3M	50x	as long as short
Gate MU_USDT	0.0000%	8h	1,044.1	+0.043%	$63.0M	$29.0M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,043	−0.061%	$189K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,046.2	+0.241%	$11K	$6.7M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,043.8	+0.015%	$125K	$443K	50x	as long as short
Aftermath Perps MUUSD	+0.0024%	1h	1,043.9	+0.018%	$3K	$44K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,043.5	−0.012%	$1.1M	$4.3M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.675%	$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	1,044	+0.031%	—	$193K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,043.8	+0.012%	$165K	$176K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,043.3	−0.037%	$2.0M	$2.7M	10x	as long as short
Variational Omni MU	+0.0053%	8h	1,044.3	+0.058%	$2.7M	$2.7M	—	as long as short
SoDEX MU-USD	+0.0054%	1h	1,044.1	+0.041%	$685K	$16K	10x	as long as short
QFEX MU-USD	+0.0057%	1h	1,044.3	+0.056%	$7.8M	$24.1M	10x	as long as short
Bitget MUUSDTshort	+0.0065%	8h	1,043.9	+0.022%	$20.5M	$42.9M	50x
Binance MUUSDT	+0.0085%	8h	1,044	+0.036%	$124.9M	$540.4M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,044	+0.035%	$153K	$182K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,043.6	−0.006%	$5.2M	$4.0M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,044.6	+0.085%	$71K	$267K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,044	+0.031%	$830	$799	20x	as long as short
Aevo MU-PERP	+0.0104%	1h	1,043.9	+0.022%	$33K	—	10x	as long as short
Paradex MU-USD-PERP	+0.0115%	8h	1,044.2	+0.053%	$2K	—	5x	as long as short
GRVT MU_USDT_Perp	+0.0143%	8h	1,044.3	+0.061%	$82K	$1.4M	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0152%	1h	1,043.3	−0.040%	$756K	$1.6M	10x	as long as short
Bybit MUUSDT	+0.0169%	8h	1,044.1	+0.043%	$19.1M	$32.5M	100x	as long as short
Nado MU-PERP	+0.0195%	1h	1,042.9	−0.072%	$307K	$845K	10x	as long as short
tradeXYZ xyz:MU	+0.0195%	1h	1,044	+0.032%	$176.4M	$106.9M	10x	as long as short
RISEx MU/USDC	+0.0202%	1h	1,044.4	+0.072%	$286K	$332K	20x	as long as short
BloFin MU-USDT	+0.0203%	8h	1,044.2	+0.055%	$1.5M	$2.1M	20x	as long as short
Lighter MU	+0.0224%	1h	1,043.7	+0.007%	$1.0M	$4.8M	20x	as long as short
Arcus MU-USD	+0.0226%	1h	1,044.2	+0.046%	$63K	$236K	10x	as long as short
Phoenix MU	+0.0230%	1h	1,044.7	+0.099%	$534K	$303K	15x	as long as short
Bullet MU-USD	+0.0231%	1h	1,044.2	+0.051%	$25K	$399K	10x	as long as short
Deribit MU_USDC-PERPETUALlong	+0.0316%	1h	1,043.7	long leg	$57K	$216K	10x
Extended MU_24_5-USD	+0.0664%	1h	1,043	−0.060%	$541K	$1.1M	10x	as long as short