Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0576%/8h= −63.1% APRpaid last 24h −0.043%

Price spread now: HTX against Extended+0.010%7-day average +0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$270.271% of the position

Long on Extended Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.183%−$18 on $10k

Price spread, last 3 days (all we have)+0.083%+$8 · spread now +0.010%, 7d avg +0.037%

Together, before fees−0.100%+ Points / potential airdropExtended: Active · farm board−$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and HTX is 0.027% cheaper against Extended than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.037%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.183% in total (about -9.5% 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	1,049.5	0.0576	pay 0.0072% / 1h	51m 11s	$548K	$1.1M	10x
Short	HTX MU-USDT	1,049.6	0	get 0.0000% / 8h	7h 51m	$130K	$418K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.010%Rate

Funding earned: −$120.96
Price spread: +0.010% → +0.037%: −$2.68
Slippage, 4 orders: −$10.07
Fee Extended: 2.5 bp × 2 orders: −$5
Fee HTX: 6 bp × 2 orders: −$12
Net: −$150.7
Costs to cover: 0.271%
Break-even: never at this rate

Slippage from Extended: live order book, 2 min ago; HTX: live order book, 22 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	0.19 bp	4.2 bp −$4	10.6 bp −$106	doesn't fit	doesn't fit
Sell HTX live order book, 22 min ago	1.72 bp	9.4 bp −$9	9.4 bp −$94	14.9 bp −$1,487	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	−0.0156%	4h	1,048.4	−0.108%	$1.3M	$672K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,049.5	+0.002%	$63.2M	$28.4M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,047.9	−0.155%	$189K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,051.6	+0.198%	$11K	$6.3M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,049.9	+0.038%	$62K	$293K	10x	as long as short
HTX MU-USDTshort	0.0000%	8h	1,049.6	+0.010%	$130K	$418K	50x
Aftermath Perps MUUSD	+0.0021%	1h	1,047.2	−0.222%	$3K	$45K	10x	as long as short
Lighter MU	+0.0032%	1h	1,049.8	+0.030%	$1.1M	$4.7M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,050	+0.043%	$1.2M	$4.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.115%	$14K	$251	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	1,050.1	+0.061%	—	$195K	25x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,049	−0.051%	$1.9M	$2.3M	10x	as long as short
QFEX MU-USD	+0.0054%	1h	1,049.6	+0.013%	$7.8M	$23.3M	10x	as long as short
Nado MU-PERP	+0.0066%	1h	1,049.2	−0.026%	$271K	$859K	10x	as long as short
OKX MU-USDT-SWAP	+0.0090%	8h	1,049.9	+0.042%	$30.9M	$101.5M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,049.3	−0.021%	$154K	$180K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,049.3	−0.021%	$5.3M	$3.7M	20x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,049.7	+0.018%	$835	$799	20x	as long as short
Paradex MU-USD-PERP	+0.0105%	8h	1,049.7	+0.015%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0128%	1h	1,049.5	−0.001%	$32K	$1K	10x	as long as short
Variational Omni MU	+0.0177%	8h	1,049.9	+0.040%	$2.7M	$2.4M	—	as long as short
Bitget MUUSDT	+0.0178%	8h	1,049.9	+0.035%	$20.6M	$41.4M	50x	as long as short
Aster MUUSD1	+0.0182%	8h	1,049.3	−0.020%	$21.6M	$47.8M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0184%	1h	1,048.4	−0.110%	$759K	$1.3M	10x	as long as short
Binance MUUSDT	+0.0191%	8h	1,050	+0.051%	$125.8M	$524.2M	50x	as long as short
Bybit MUUSDT	+0.0232%	8h	1,050.3	+0.071%	$19.3M	$32.5M	100x	as long as short
Arcus MU-USD	+0.0240%	1h	1,048	−0.145%	$71K	$243K	10x	as long as short
SoDEX MU-USD	+0.0282%	1h	1,049.6	+0.011%	$689K	$16K	10x	as long as short
BloFin MU-USDT	+0.0311%	8h	1,049.6	+0.006%	$1.5M	$2.1M	20x	as long as short
RISEx MU/USDC	+0.0312%	1h	1,049.6	+0.009%	$316K	$339K	20x	as long as short
Phoenix MU	+0.0383%	1h	1,048.9	−0.057%	$536K	$306K	15x	as long as short
Polymarket Perps MU-USD	+0.0431%	1h	1,049.6	+0.010%	$170K	$202K	10x	as long as short
GRVT MU_USDT_Perp	+0.0533%	8h	1,048.8	−0.070%	$83K	$1.4M	10x	as long as short
Extended MU_24_5-USDlong	+0.0576%	1h	1,049.5	long leg	$548K	$1.1M	10x
Bullet MU-USD	+0.0670%	1h	1,050	+0.051%	$26K	$394K	10x	as long as short
ApeX Omni MUUSDT	+0.0705%	1h	1,047.7	−0.168%	$71K	$267K	50x	as long as short
tradeXYZ xyz:MU	+0.0730%	1h	1,049.7	+0.019%	$178.5M	$101.0M	10x	as long as short