Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.063%

Price spread now: Coinbase International against Gate−0.070%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$3as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$400.396% of the position

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.363%+$36 on $10k

Price spread, last 4 days (all we have)−0.045%−$4 · spread now −0.070%, 7d avg −0.008%

Together, before fees+0.318%+$32 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.062% cheaper against Gate than usual: you would sell low and buy high (spread −0.070% now, against its 7-day average of −0.008%). If the spread goes back, that is −$6 on $10k: about 2.2 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MU_USDT	1,050.7	0	get 0.0000% / 8h	5h 36m	$62.1M	$27.4M	75x
Short	Coinbase International MU-PERP-INTX	1,049.9	0.0096	get 0.0012% / 1h	36m 36s	$756K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.070%Rate

Funding earned: $20.16
Price spread: −0.070% → −0.008%: −$6.22
Slippage, 4 orders: −$14.56
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$25.62
Costs to cover: 0.396%
Break-even: 15.9 days

Slippage from Gate: live order book, 2 min ago; Coinbase International: 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	0.90 bp	12.1 bp −$12	17.3 bp −$173	39.7 bp −$3,967	76.8 bp −$38.4K
Sell Coinbase International live order book, 2 min ago	3.19 bp	8.2 bp −$8	11.3 bp −$113	63.2 bp −$6,321	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	−0.0447%	4h	1,050	−0.069%	$1.3M	$671K	10x	as long as short
RISEx MU/USDC	0.0000%	1h	1,050.9	+0.020%	$333K	$348K	20x	as long as short
Gate MU_USDTlong	0.0000%	8h	1,050.7	long leg	$62.1M	$27.4M	75x
GRVT MU_USDT_Perp	0.0000%	8h	1,050.7	+0.004%	$85K	$1.3M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,050.1	−0.056%	$190K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,052.5	+0.173%	$11K	$5.9M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,050.8	+0.009%	$129K	$428K	50x	as long as short
Bybit MUUSDT	+0.0007%	8h	1,050.7	+0.005%	$19.1M	$32.3M	100x	as long as short
Aftermath Perps MUUSD	+0.0020%	1h	1,050.1	−0.052%	$3K	$44K	10x	as long as short
QFEX MU-USD	+0.0030%	1h	1,050.6	−0.008%	$7.2M	$18.2M	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX MU-USDT-SWAP	+0.0030%	8h	1,050.8	+0.013%	$31.0M	$99.9M	50x	as long as short
Lighter RH MU	+0.0032%	1h	1,050.6	−0.011%	$1.2M	$4.3M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.065%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,050.2	−0.042%	$71K	$235K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,051.3	+0.062%	—	$175K	25x	as long as short
Extended MU_24_5-USD	+0.0048%	1h	1,050	−0.066%	$564K	$1.1M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,050.2	−0.046%	$170K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,050.7	−0.003%	$689K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,050.1	−0.060%	$1.9M	$2.3M	10x	as long as short
Lighter MU	+0.0056%	1h	1,050.7	+0.002%	$1.1M	$4.9M	20x	as long as short
Paradex MU-USD-PERP	+0.0057%	8h	1,050.9	+0.022%	$2K	—	5x	as long as short
Nado MU-PERP	+0.0066%	1h	1,050	−0.066%	$282K	$849K	10x	as long as short
tradeXYZ xyz:MU	+0.0075%	1h	1,050.5	−0.017%	$178.3M	$99.1M	10x	as long as short
Aster MUUSD1	+0.0084%	8h	1,050.6	−0.009%	$21.4M	$52.1M	20x	as long as short
Bullet MU-USD	+0.0090%	1h	1,050.8	+0.011%	$25K	$398K	10x	as long as short
Coinbase International MU-PERP-INTXshort	+0.0096%	1h	1,049.9	−0.070%	$756K	$1.2M	10x
Pacifica MU	+0.0100%	1h	1,050.1	−0.051%	$149K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,050.4	−0.025%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,050.3	−0.039%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050.6	−0.004%	$835	$799	20x	as long as short
Aevo MU-PERP	+0.0120%	1h	1,050.4	−0.030%	$32K	$1K	10x	as long as short
Variational Omni MU	+0.0128%	8h	1,049.8	−0.088%	$2.7M	$2.4M	—	as long as short
Bitget MUUSDT	+0.0137%	8h	1,050.8	+0.012%	$20.6M	$41.1M	50x	as long as short
Binance MUUSDT	+0.0146%	8h	1,050.8	+0.008%	$126.6M	$518.5M	50x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0150%	1h	1,050.5	−0.022%	$67K	$364K	10x	as long as short
Phoenix MU	+0.0229%	1h	1,050.7	+0.002%	$537K	$271K	15x	as long as short
BloFin MU-USDT	+0.0267%	8h	1,050.8	+0.012%	$1.5M	$2.0M	20x	as long as short