Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.041%

Price spread now: HTX against Deribit−0.013%7-day average +0.021% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$460.463% of the position

Long on Deribit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.068%−$7 on $10k

Price spread, last 4 days (all we have)+0.082%+$8 · spread now −0.013%, 7d avg +0.021%

Together, before fees+0.014%+$1 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: HTX is 0.033% cheaper against Deribit than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MU_USDC-PERPETUAL	1,037.9	0	get 0.0000% / 1h	27m 28s	$74K	$564K	10x
Short	HTX MU-USDT	1,037.8	0	get 0.0000% / 8h	1h 27m	$128K	$442K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.013%Rate

Funding earned: $0
Price spread: −0.013% → +0.021%: −$3.32
Slippage, 4 orders: −$27.28
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$49.6
Costs to cover: 0.463%
Break-even: never at this rate

Slippage from Deribit: live order book, 16 min ago; HTX: live order book, 16 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, 16 min ago	0.05 bp	14.3 bp −$14	17.9 bp −$179	doesn't fit	doesn't fit
Sell HTX live order book, 16 min ago	0.19 bp	13.6 bp −$14	14.6 bp −$146	27.3 bp −$2,728	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	−0.0477%	4h	1,038	+0.008%	$1.3M	$674K	10x	as long as short
Bitget MUUSDT	−0.0210%	8h	1,038	+0.008%	$20.2M	$40.3M	50x	as long as short
Nado MU-PERP	0.0000%	1h	1,037.8	−0.011%	$278K	$815K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,038.2	+0.033%	$21.2M	$59.2M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,037.8	−0.007%	$121.5M	$537.6M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,037.9	−0.004%	$18.5M	$32.2M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,037.6	−0.030%	$29.9M	$100.0M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,037.8	−0.007%	$313K	$387K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,037.9	−0.001%	$61.6M	$28.5M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,037.4	−0.051%	$2.5M	$2.6M	—	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MU_USDT_Perp	0.0000%	8h	1,037.6	−0.027%	$73K	$1.4M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,038.1	+0.024%	$188K	$3.5M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,038.2	+0.031%	$26K	$389K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,039.2	+0.128%	$11K	$5.6M	10x	as long as short
Deribit MU_USDC-PERPETUALlong	0.0000%	1h	1,037.9	long leg	$74K	$564K	10x
HTX MU-USDTshort	0.0000%	8h	1,037.8	−0.013%	$128K	$442K	50x
Aftermath Perps MUUSD	+0.0014%	1h	1,036.7	−0.111%	$3K	$44K	10x	as long as short
Lighter MU	+0.0032%	1h	1,037.9	+0.005%	$1.1M	$4.9M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,037.9	0.000%	$1.2M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,037.2	−0.066%	$537K	$1.1M	10x	as long as short
QFEX MU-USD	+0.0032%	1h	1,037.7	−0.021%	$7.0M	$18.6M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.298%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,037.3	−0.055%	$70K	$230K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,037.9	−0.003%	—	$175K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,037.7	−0.018%	$176.3M	$88.1M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,037.5	−0.038%	$168K	$195K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,038.1	+0.016%	$681K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,037.5	−0.040%	$1.8M	$2.6M	10x	as long as short
Paradex MU-USD-PERP	+0.0052%	8h	1,038	+0.008%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,037.6	−0.026%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,037.6	−0.026%	$147K	$190K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,037.6	−0.027%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,038.4	+0.046%	$70K	$270K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,038.1	+0.017%	$825	$799	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0104%	1h	1,036	−0.180%	$731K	$1.2M	10x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,038.1	+0.024%	$1.5M	$2.1M	20x	as long as short
Phoenix MU	+0.0231%	1h	1,037.8	−0.009%	$531K	$270K	15x	as long as short