Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.047%

Price spread now: Deribit against Gate−0.052%7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$460.455% of the position

Long on Gate Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.080%+$8 on $10k

Price spread, last 4 days (all we have)−0.004%$0 · spread now −0.052%, 7d avg +0.002%

Together, before fees+0.075%+$8 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Deribit is 0.054% cheaper against Gate than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MU_USDT	1,038.6	0	get 0.0000% / 8h	5h 30m	$61.3M	$28.1M	75x
Short	Deribit MU_USDC-PERPETUAL	1,038	0	get 0.0000% / 1h	30m 04s	$33K	$731K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.052%Rate

Funding earned: $0
Price spread: −0.052% → +0.002%: −$5.4
Slippage, 4 orders: −$23.53
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$50.93
Costs to cover: 0.455%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; Deribit: live order book, 17 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	0.82 bp	10.2 bp −$10	17.4 bp −$174	41.0 bp −$4,102	76.2 bp −$38.1K
Sell Deribit live order book, 17 min ago	0.05 bp	7.5 bp −$8	12.1 bp −$121	doesn't fit	doesn't fit

MU on 37 exchanges

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	−0.0377%	4h	1,038.3	−0.029%	$1.3M	$696K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,038.8	+0.027%	$21.2M	$73.6M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,038.7	+0.017%	$121.8M	$555.8M	50x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,038.5	−0.002%	$29.7M	$107.3M	50x	as long as short
Gate MU_USDTlong	0.0000%	8h	1,038.6	long leg	$61.3M	$28.1M	75x
Bitget MUUSDT	0.0000%	8h	1,038.6	+0.007%	$19.8M	$43.7M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,038.4	−0.011%	$2.6M	$2.5M	—	as long as short
StandX MU-USD	0.0000%	1h	1,038.5	−0.005%	$188K	$3.7M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,040.4	+0.172%	$11K	$5.0M	10x	as long as short
Deribit MU_USDC-PERPETUALshort	0.0000%	1h	1,038	−0.052%	$33K	$731K	10x

Show all 37 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX MU-USDT	0.0000%	8h	1,038.4	−0.012%	$119K	$473K	50x	as long as short
Lighter RH MU	+0.0032%	1h	1,038.3	−0.023%	$1.1M	$4.5M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.232%	$19K	$5K	12x	as long as short
Aftermath Perps MUUSD	+0.0036%	1h	1,038.2	−0.034%	$3K	$41K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,039.2	+0.059%	—	$177K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,038.3	−0.025%	$169K	$171K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,038.5	−0.008%	$683K	$14K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,036.7	−0.182%	$1.9M	$3.2M	10x	as long as short
QFEX MU-USD	+0.0058%	1h	1,038.4	−0.015%	$7.0M	$19.4M	10x	as long as short
Bybit MUUSDT	+0.0071%	8h	1,038.7	+0.010%	$18.8M	$32.4M	100x	as long as short
Paradex MU-USD-PERP	+0.0076%	8h	1,038.4	−0.018%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,038.1	−0.045%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,038.4	−0.016%	$150K	$227K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,038.2	−0.032%	$5.2M	$6.2M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,038.1	−0.048%	$70K	$270K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,038.5	−0.003%	$826	$799	20x	as long as short
RISEx MU/USDC	+0.0118%	1h	1,038.7	+0.010%	$299K	$339K	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,038.7	+0.011%	$1.5M	$2.6M	20x	as long as short
Nado MU-PERP	+0.0130%	1h	1,038	−0.057%	$276K	$840K	10x	as long as short
GRVT MU_USDT_Perp	+0.0133%	8h	1,038.6	−0.001%	$84K	$1.4M	10x	as long as short
Arcus MU-USD	+0.0139%	1h	1,037.9	−0.066%	$90K	$147K	10x	as long as short
Lighter MU	+0.0152%	1h	1,038.5	−0.011%	$1.0M	$5.0M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0192%	1h	1,038.5	−0.009%	$727K	$1.2M	10x	as long as short
Bullet MU-USD	+0.0217%	1h	1,038.6	+0.008%	$25K	$384K	10x	as long as short
tradeXYZ xyz:MU	+0.0223%	1h	1,038	−0.054%	$177.1M	$75.4M	10x	as long as short
Extended MU_24_5-USD	+0.0256%	1h	1,037.9	−0.064%	$546K	$1.1M	10x	as long as short
Phoenix MU	+0.0308%	1h	1,038.5	−0.006%	$531K	$159K	15x	as long as short