Funding arb · Price arb /

MU

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0648%/8h= −71.0% APRpaid last 24h −0.046%

Price spread now: Aster against Extended+0.146%7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

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

costs, in and out, $10k−$170.171% of the position

Long on Extended Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.146%−$15 on $10k

Price spread, last 4 days (all we have)−0.073%−$7 · spread now +0.146%, 7d avg +0.043%

Together, before fees−0.220%+ Points / potential airdropExtended: Active · Aster: Stage 5 · farm board−$22 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.103% dearer against Extended than usual: you sell high and buy low (spread +0.146% now, against its 7-day average of +0.043%): +$10 on $10k if it goes back. Holding the pair costs −$19 a day in funding at the current rate, which eats that in about 13 hours. At the pace of the last 7 days (−0.146% in total) that is about 4.9 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.146% in total (about -7.6% 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	Extended MU_24_5-USD	1,043.1	0.0648	pay 0.0081% / 1h	25m 46s	$541K	$1.1M	10x
Short	Aster MUUSD1	1,044.7	0	get 0.0000% / 8h	2h 25m	$21.5M	$43.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Extended. 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 ExtendedbpFee AsterbpOrdersPrice spread, now +0.146%Rate

Funding earned: −$136.08
Price spread: +0.146% → +0.043%: $10.32
Slippage, 4 orders: −$4.09
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Aster: 4 bp × 2 orders: −$8
Net: −$142.85
Costs to cover: 0.171%
Break-even: never at this rate

Slippage from Extended: live order book, 2 min ago; Aster: live order book, 3 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 Extended live order book, 2 min ago	0.14 bp	2.9 bp −$3	9.9 bp −$99	doesn't fit	doesn't fit
Sell Aster live order book, 3 min ago	0.86 bp	5.6 bp −$6	9.2 bp −$92	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	−0.0845%	4h	1,043.7	+0.055%	$1.3M	$674K	10x	as long as short
Aster MUUSD1short	0.0000%	8h	1,044.7	+0.146%	$21.5M	$43.4M	20x
OKX MU-USDT-SWAP	0.0000%	8h	1,044.1	+0.095%	$30.7M	$104.4M	50x	as long as short
Gate MU_USDT	0.0000%	8h	1,044.3	+0.110%	$63.1M	$28.9M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,043	−0.014%	$189K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,046.3	+0.302%	$11K	$6.7M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,044.1	+0.086%	$125K	$443K	50x	as long as short
Aftermath Perps MUUSD	+0.0023%	1h	1,043.7	+0.049%	$3K	$44K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,043.9	+0.074%	$1.1M	$4.3M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.725%	$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
Variational Omni MU	+0.0038%	8h	1,043.9	+0.072%	$2.7M	$2.7M	—	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,043.9	+0.070%	—	$193K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,043.8	+0.062%	$165K	$176K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,043.3	+0.013%	$2.0M	$2.7M	10x	as long as short
QFEX MU-USD	+0.0057%	1h	1,044.1	+0.093%	$7.8M	$24.1M	10x	as long as short
SoDEX MU-USD	+0.0058%	1h	1,044.3	+0.114%	$685K	$16K	10x	as long as short
Bitget MUUSDT	+0.0063%	8h	1,044.3	+0.107%	$20.5M	$42.9M	50x	as long as short
Binance MUUSDT	+0.0083%	8h	1,044.2	+0.096%	$124.9M	$540.3M	50x	as long as short
Aevo MU-PERP	+0.0096%	1h	1,044.1	+0.089%	$33K	—	10x	as long as short
Pacifica MU	+0.0100%	1h	1,043.8	+0.063%	$153K	$182K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,043.6	+0.041%	$5.2M	$4.0M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,043.5	+0.030%	$71K	$267K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,044.3	+0.110%	$830	$799	20x	as long as short
Paradex MU-USD-PERP	+0.0112%	8h	1,044.2	+0.098%	$2K	—	5x	as long as short
GRVT MU_USDT_Perp	+0.0126%	8h	1,043.9	+0.070%	$82K	$1.4M	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0152%	1h	1,043.3	+0.010%	$756K	$1.8M	10x	as long as short
Bybit MUUSDT	+0.0166%	8h	1,044.6	+0.135%	$19.1M	$32.5M	100x	as long as short
tradeXYZ xyz:MU	+0.0188%	1h	1,044.2	+0.101%	$176.5M	$107.0M	10x	as long as short
Nado MU-PERP	+0.0195%	1h	1,043.2	+0.009%	$307K	$845K	10x	as long as short
BloFin MU-USDT	+0.0196%	8h	1,044.2	+0.102%	$1.5M	$2.1M	20x	as long as short
RISEx MU/USDC	+0.0202%	1h	1,044.4	+0.123%	$288K	$331K	20x	as long as short
Lighter MU	+0.0224%	1h	1,044.1	+0.086%	$1.0M	$4.8M	20x	as long as short
Arcus MU-USD	+0.0226%	1h	1,044.1	+0.090%	$63K	$236K	10x	as long as short
Phoenix MU	+0.0230%	1h	1,044.1	+0.091%	$534K	$303K	15x	as long as short
Bullet MU-USD	+0.0231%	1h	1,044.3	+0.114%	$25K	$399K	10x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0315%	1h	1,044	+0.084%	$57K	$214K	10x	as long as short
Extended MU_24_5-USDlong	+0.0648%	1h	1,043.1	long leg	$541K	$1.1M	10x