Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0077%/8h= +8.4% APRpaid last 24h +0.038%

Price spread now: Bullet against Gate+0.034%7-day average +0.038% · 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−$38as in the Price arb table

costs, in and out, $10k−$370.373% of the position

Long on Gate Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.133%+$13 on $10k

Price spread, last 4 days (all we have)−0.047%−$5 · spread now +0.034%, 7d avg +0.038%

Together, before fees+0.086%+$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.038%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MU_USDT	1,049.1	0	get 0.0000% / 8h	3h 52m	$62.6M	$27.6M	75x
Short	Bullet MU-USD	1,049.5	0.0077	get 0.0010% / 1h	52m 10s	$25K	$395K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Gate. 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 GatebpFee BulletbpOrdersPrice spread, now +0.034%Rate

Funding earned: $16.09
Price spread: +0.034% → +0.038%: −$0.32
Slippage, 4 orders: −$14.27
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$21.5
Costs to cover: 0.373%
Break-even: 16.4 days

Slippage from Gate: live order book, 2 min ago; Bullet: 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 Gate live order book, 2 min ago	1.10 bp	13.5 bp −$14	19.7 bp −$197	44.4 bp −$4,435	78.7 bp −$39.3K
Sell Bullet live order book, 2 min ago	0.48 bp	6.2 bp −$6	20.5 bp −$205	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	−0.0403%	4h	1,049.7	+0.051%	$1.3M	$671K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,049.5	+0.038%	$21.4M	$55.3M	20x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,049.2	+0.008%	$31.2M	$99.5M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,049.7	+0.056%	$339K	$351K	20x	as long as short
Gate MU_USDTlong	0.0000%	8h	1,049.1	long leg	$62.6M	$27.6M	75x
Bitget MUUSDT	0.0000%	8h	1,049.4	+0.025%	$20.5M	$41.3M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,049.7	+0.056%	$2.7M	$2.4M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,050.4	+0.125%	$81K	$1.4M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,049.8	+0.058%	$190K	$3.4M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,049.9	+0.071%	$11K	$5.8M	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,049	−0.016%	$73K	$459K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,049.1	−0.003%	$130K	$430K	50x	as long as short
Bybit MUUSDT	+0.0005%	8h	1,049.3	+0.016%	$19.0M	$31.9M	100x	as long as short
Binance MUUSDT	+0.0010%	8h	1,049.1	−0.003%	$125.8M	$516.8M	50x	as long as short
Aftermath Perps MUUSD	+0.0023%	1h	1,049.5	+0.034%	$3K	$44K	10x	as long as short
QFEX MU-USD	+0.0032%	1h	1,049.3	+0.019%	$7.1M	$17.8M	10x	as long as short
Lighter MU	+0.0032%	1h	1,049.1	−0.003%	$1.1M	$5.0M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,049.2	+0.006%	$1.3M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,048.7	−0.043%	$563K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.212%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,049.7	+0.051%	$71K	$233K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,050.3	+0.112%	—	$176K	25x	as long as short
BloFin MU-USDT	+0.0046%	8h	1,049.8	+0.066%	$1.5M	$2.0M	20x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,048.9	−0.023%	$178.0M	$97.1M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,049.2	+0.006%	$170K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,049.1	−0.007%	$688K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,048.8	−0.035%	$1.9M	$2.2M	10x	as long as short
Paradex MU-USD-PERP	+0.0051%	8h	1,049.5	+0.038%	$2K	—	5x	as long as short
Nado MU-PERP	+0.0067%	1h	1,049.3	+0.013%	$282K	$832K	10x	as long as short
Bullet MU-USDshort	+0.0077%	1h	1,049.5	+0.034%	$25K	$395K	10x
Aevo MU-PERP	+0.0080%	1h	1,049	−0.017%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,049.6	+0.041%	$148K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,049.1	−0.002%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,050.3	+0.106%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,049.1	−0.001%	$834	$799	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0120%	1h	1,050	+0.085%	$757K	$1.2M	10x	as long as short
Phoenix MU	+0.0305%	1h	1,050.1	+0.092%	$537K	$271K	15x	as long as short