Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.011%

Price spread now: KuCoin against Deribit+0.019%7-day average −0.017% · 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−$48as in the Price arb table

costs, in and out, $10k−$520.518% of the position

Long on Deribit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.002%$0 on $10k

Price spread, last 4 days (all we have)−0.010%−$1 · spread now +0.019%, 7d avg −0.017%

Together, before fees−0.008%−$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and KuCoin is 0.036% dearer against Deribit than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.017%.

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	23m 46s	$74K	$567K	10x
Short	KuCoin MUUSDTM	1,038.1	0.0100	get 0.0100% / 8h	1h 23m	$5.2M	$3.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.019%Rate

Funding earned: $21
Price spread: +0.019% → −0.017%: $3.62
Slippage, 4 orders: −$32.81
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$27.19
Costs to cover: 0.518%
Break-even: 16.1 days

Slippage from Deribit: live order book, 20 min ago; KuCoin: 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 Deribit live order book, 20 min ago	0.05 bp	14.3 bp −$14	17.9 bp −$179	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	2.75 bp	13.8 bp −$14	26.2 bp −$262	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	−0.0957%	4h	1,037.7	−0.024%	$1.3M	$672K	10x	as long as short
Bitget MUUSDT	−0.0206%	8h	1,038.7	+0.077%	$20.2M	$40.3M	50x	as long as short
Nado MU-PERP	−0.0004%	1h	1,037.8	−0.014%	$279K	$815K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,038.7	+0.078%	$21.1M	$59.8M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,038.4	+0.043%	$121.7M	$537.7M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,038.5	+0.058%	$18.6M	$32.2M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,038.3	+0.031%	$29.9M	$100.0M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,038.1	+0.011%	$313K	$387K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,038.4	+0.046%	$61.7M	$28.6M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,038.1	+0.017%	$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	1,037.9	−0.002%	$83K	$1.4M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,038	+0.010%	$188K	$3.5M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,038.2	+0.030%	$25K	$389K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,039.5	+0.151%	$11K	$5.6M	10x	as long as short
Deribit MU_USDC-PERPETUALlong	0.0000%	1h	1,037.9	long leg	$74K	$567K	10x
HTX MU-USDT	0.0000%	8h	1,037.9	−0.002%	$128K	$441K	50x	as long as short
Aftermath Perps MUUSD	+0.0013%	1h	1,037.2	−0.067%	$3K	$44K	10x	as long as short
Lighter MU	+0.0032%	1h	1,038.6	+0.067%	$1.1M	$4.9M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,038.6	+0.066%	$1.2M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,038.2	+0.022%	$537K	$1.1M	10x	as long as short
QFEX MU-USD	+0.0032%	1h	1,037.9	−0.001%	$7.0M	$18.6M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.293%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,037.4	−0.051%	$70K	$230K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,038.3	+0.032%	—	$175K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,038.4	+0.044%	$176.4M	$86.7M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,037.9	−0.004%	$168K	$195K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,038.2	+0.028%	$681K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,036.8	−0.111%	$1.8M	$2.6M	10x	as long as short
Paradex MU-USD-PERP	+0.0052%	8h	1,038.7	+0.073%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,037.9	−0.003%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,038.3	+0.034%	$147K	$190K	10x	as long as short
KuCoin MUUSDTMshort	+0.0100%	8h	1,038.1	+0.019%	$5.2M	$3.9M	20x
ApeX Omni MUUSDT	+0.0100%	1h	1,037.6	−0.033%	$70K	$270K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,038	+0.007%	$825	$799	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0104%	1h	1,036	−0.185%	$731K	$1.2M	10x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,037.9	−0.002%	$1.5M	$2.1M	20x	as long as short
Phoenix MU	+0.0231%	1h	1,037.8	−0.013%	$531K	$270K	15x	as long as short