Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0092%/8h= −10.1% APRpaid last 24h −0.036%

Price spread now: OKX against Deribit+0.028%7-day average +0.019% · 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−$39as in the Price arb table

costs, in and out, $10k−$400.400% of the position

Long on Deribit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.019%−$2 on $10k

Price spread, last 4 days (all we have)+0.032%+$3 · spread now +0.028%, 7d avg +0.019%

Together, before fees+0.013%+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.019%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MU_USDC-PERPETUAL	1,051.9	0.0092	pay 0.0012% / 1h	16m 54s	$71K	$437K	10x
Short	OKX MU-USDT-SWAP	1,052.2	0	get 0.0000% / 8h	4h 16m	$31.2M	$99.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.028%Rate

Funding earned: −$19.39
Price spread: +0.028% → +0.019%: $0.88
Slippage, 4 orders: −$23.03
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$58.54
Costs to cover: 0.400%
Break-even: never at this rate

Slippage from Deribit: live order book, 42 min ago; OKX: live order book, 2 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, 42 min ago	1.90 bp	15.3 bp −$15	17.8 bp −$178	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.05 bp	5.7 bp −$6	6.9 bp −$69	17.2 bp −$1,722	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	−0.0763%	4h	1,052.5	+0.054%	$1.3M	$672K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,052.5	+0.056%	$21.4M	$55.0M	20x	as long as short
OKX MU-USDT-SWAPshort	0.0000%	8h	1,052.2	+0.028%	$31.2M	$99.7M	50x
RISEx MU/USDC	0.0000%	1h	1,052.5	+0.055%	$334K	$348K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,052.2	+0.026%	$62.3M	$27.5M	75x	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,052.6	+0.065%	$82K	$1.4M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,052.1	+0.015%	$190K	$3.4M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,052.4	+0.045%	$11K	$5.8M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,052.3	+0.038%	$131K	$434K	50x	as long as short
Variational Omni MU	+0.0012%	8h	1,053	+0.106%	$2.7M	$2.4M	—	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps MUUSD	+0.0021%	1h	1,052.5	+0.051%	$3K	$44K	10x	as long as short
Bybit MUUSDT	+0.0024%	8h	1,052.6	+0.064%	$19.1M	$32.3M	100x	as long as short
Lighter RH MU	+0.0032%	1h	1,052.1	+0.018%	$1.3M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,051.7	−0.025%	$566K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	−0.053%	$19K	$5K	12x	as long as short
QFEX MU-USD	+0.0034%	1h	1,052.1	+0.020%	$7.2M	$17.9M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,052.3	+0.036%	$71K	$234K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,053.3	+0.132%	—	$176K	25x	as long as short
Binance MUUSDT	+0.0046%	8h	1,052.2	+0.030%	$126.6M	$516.6M	50x	as long as short
Nado MU-PERP	+0.0047%	1h	1,051.9	−0.004%	$282K	$837K	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,052	+0.008%	$171K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,052.1	+0.017%	$690K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,051.6	−0.034%	$1.9M	$2.2M	10x	as long as short
Bullet MU-USD	+0.0051%	1h	1,052.3	+0.036%	$25K	$395K	10x	as long as short
Paradex MU-USD-PERP	+0.0051%	8h	1,052.4	+0.043%	$2K	—	5x	as long as short
Lighter MU	+0.0056%	1h	1,052.2	+0.024%	$1.1M	$5.1M	20x	as long as short
tradeXYZ xyz:MU	+0.0075%	1h	1,052	+0.008%	$178.8M	$99.0M	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0080%	1h	1,052.9	+0.092%	$759K	$1.2M	10x	as long as short
Bitget MUUSDT	+0.0090%	8h	1,052.4	+0.048%	$20.5M	$41.1M	50x	as long as short
Deribit MU_USDC-PERPETUALlong	+0.0092%	1h	1,051.9	long leg	$71K	$437K	10x
Aevo MU-PERP	+0.0096%	1h	1,051.8	−0.007%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,052.4	+0.046%	$148K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,052	+0.010%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,052.8	+0.087%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,052	+0.011%	$836	$799	20x	as long as short
BloFin MU-USDT	+0.0166%	8h	1,052.3	+0.035%	$1.5M	$2.0M	20x	as long as short
Phoenix MU	+0.0304%	1h	1,052.5	+0.055%	$538K	$271K	15x	as long as short