Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0038%/8h= +4.2% APRpaid last 24h +0.023%

Price spread now: Coinbase International against GRVT+0.115%76s7-day average −0.071% · you sell dearer than you buy

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$300.303% of the position

Long on GRVT Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.188%+$19 on $10k

Price spread, last 4 days (all we have)−0.193%−$19 · spread now +0.115%, 7d avg −0.071%

Together, before fees−0.005%+ Points / potential airdropGRVT: Active · farm board$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Coinbase International is 0.186% dearer against GRVT than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of −0.071%. The two prices were read 76 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT MU_USDT_Perp	1,034.8	0.0098	pay 0.0098% / 8h	4h 08m	$84K	$1.4M	10x
Short	Coinbase International MU-PERP-INTX	1,036	0.0136	get 0.0017% / 1h	8m 15s	$726K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against GRVT. 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 GRVTbpFee Coinbase InternationalbpOrdersPrice spread, now +0.115%Rate

Funding earned: $7.98
Price spread: +0.115% → −0.071%: $18.58
Slippage, 4 orders: −$11.27
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$3.71
Costs to cover: 0.303%
Break-even: 10.3 days

Slippage from GRVT: live order book, 3 min ago; Coinbase International: 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 GRVT live order book, 3 min ago	0.53 bp	6.3 bp −$6	9.0 bp −$90	doesn't fit	doesn't fit
Sell Coinbase International live order book, 3 min ago	4.21 bp	9.2 bp −$9	10.0 bp −$100	49.0 bp −$4,900	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	−0.0583%	4h	1,034.9	+0.018%	$1.3M	$694K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,034.2	−0.059%	$21.1M	$74.2M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,033.8	−0.091%	$121.1M	$552.6M	50x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,033.8	−0.090%	$29.8M	$106.3M	50x	as long as short
Gate MU_USDT	0.0000%	8h	1,033.5	−0.121%	$61.0M	$27.9M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,033.6	−0.114%	$19.8M	$43.1M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,034.1	−0.065%	$2.6M	$2.4M	—	as long as short
StandX MU-USD	0.0000%	1h	1,034.2	−0.056%	$187K	$3.8M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,035	+0.019%	$11K	$4.7M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,032.9	−0.180%	$31K	$763K	10x	as long as short

Show all 37 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX MU-USDT	0.0000%	8h	1,033.5	−0.120%	$119K	$455K	50x	as long as short
Lighter RH MU	+0.0032%	1h	1,033.3	−0.139%	$1.1M	$4.4M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.604%	$19K	$5K	12x	as long as short
Aftermath Perps MUUSD	+0.0039%	1h	1,033.6	−0.117%	$3K	$41K	10x	as long as short
RISEx MU/USDC	+0.0045%	1h	1,033.8	−0.092%	$295K	$330K	20x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,033.9	−0.082%	—	$175K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,033.3	−0.142%	$168K	$173K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,033.6	−0.113%	$680K	$14K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,033.4	−0.135%	$1.9M	$3.2M	10x	as long as short
QFEX MU-USD	+0.0059%	1h	1,033.5	−0.127%	$7.0M	$19.3M	10x	as long as short
Paradex MU-USD-PERP	+0.0069%	8h	1,033.4	−0.131%	$2K	—	5x	as long as short
Bybit MUUSDT	+0.0079%	8h	1,033.8	−0.094%	$18.7M	$31.4M	100x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,033.2	−0.146%	$32K	$1K	10x	as long as short
GRVT MU_USDT_Perplong	+0.0098%	8h	1,034.8	long leg	$84K	$1.4M	10x
Pacifica MU	+0.0100%	1h	1,033.2	−0.154%	$151K	$211K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,033.3	−0.139%	$5.2M	$7.1M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,033.9	−0.082%	$70K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,033.7	−0.102%	$822	$799	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,034.1	−0.066%	$1.5M	$2.8M	20x	as long as short
Extended MU_24_5-USD	+0.0128%	1h	1,032.6	−0.205%	$545K	$1.1M	10x	as long as short
Coinbase International MU-PERP-INTXshort	+0.0136%	1h	1,036	+0.115%	$726K	$1.2M	10x
Nado MU-PERP	+0.0142%	1h	1,033.5	−0.122%	$275K	$831K	10x	as long as short
tradeXYZ xyz:MU	+0.0147%	1h	1,033.2	−0.151%	$175.9M	$70.8M	10x	as long as short
Lighter MU	+0.0160%	1h	1,033.5	−0.120%	$1.0M	$5.0M	20x	as long as short
Arcus MU-USD	+0.0186%	1h	1,033.2	−0.153%	$90K	$166K	10x	as long as short
Bullet MU-USD	+0.0253%	1h	1,033.7	−0.103%	$25K	$385K	10x	as long as short
Phoenix MU	+0.0461%	1h	1,034	−0.074%	$529K	$159K	15x	as long as short