Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0056%/8h= +6.2% APRpaid last 24h +0.021%

Price spread now: Deribit against GRVT−0.027%45s7-day average −0.028% · 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—prices read too far apart to compare

costs, in and out, $10k−$400.398% of the position

Long on GRVT Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.003%$0 on $10k

Price spread, last 3 days (all we have)−0.049%−$5 · spread now −0.027%, 7d avg −0.028%

Together, before fees−0.052%+ Points / potential airdropGRVT: Active · farm board−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.028%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. The two prices were read 45 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	1,050.1	0.0008	pay 0.0008% / 8h	6h 03m	$79K	$1.3M	10x
Short	Deribit MU_USDC-PERPETUAL	1,049.8	0.0064	get 0.0008% / 1h	3m 19s	$66K	$348K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.027%Rate

Funding earned: $11.85
Price spread: −0.027% → −0.028%: $0.15
Slippage, 4 orders: −$23.8
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$27.8
Costs to cover: 0.398%
Break-even: 23.4 days

Slippage from GRVT: live order book, 5 min ago; Deribit: live order book, 65 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, 5 min ago	1.29 bp	6.4 bp −$6	8.1 bp −$81	doesn't fit	doesn't fit
Sell Deribit live order book, 65 min ago	3.09 bp	14.5 bp −$15	19.9 bp −$199	doesn't fit	doesn't fit

MU on 36 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	−0.0984%	4h	1,049.3	−0.075%	$1.3M	$671K	10x	as long as short
Bybit MUUSDT	0.0000%	8h	1,050.6	+0.041%	$19.2M	$32.6M	100x	as long as short
Gate MU_USDT	0.0000%	8h	1,050.1	−0.001%	$62.1M	$27.8M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,049.7	−0.041%	$190K	$3.4M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,050.3	+0.021%	$25K	$395K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,051.8	+0.155%	$11K	$5.9M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,050	−0.009%	$129K	$426K	50x	as long as short
Nado MU-PERP	+0.0007%	1h	1,049.7	−0.039%	$278K	$853K	10x	as long as short
GRVT MU_USDT_Perplong	+0.0008%	8h	1,050.1	long leg	$79K	$1.3M	10x
Aftermath Perps MUUSD	+0.0017%	1h	1,049.4	−0.068%	$3K	$45K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MU	+0.0032%	1h	1,050.1	−0.005%	$1.2M	$4.9M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,050	−0.009%	$1.2M	$4.2M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,049.3	−0.074%	$564K	$1.1M	10x	as long as short
QFEX MU-USD	+0.0040%	1h	1,049.9	−0.019%	$7.3M	$18.9M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,049.7	−0.045%	$71K	$235K	10x	as long as short
OKX MU-USDT-SWAP	+0.0042%	8h	1,050.4	+0.022%	$30.9M	$100.3M	50x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,050.7	+0.058%	—	$175K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,050	−0.012%	$178.2M	$99.4M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,049.9	−0.021%	$170K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,050.1	−0.003%	$689K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,049.4	−0.072%	$1.9M	$2.2M	10x	as long as short
Paradex MU-USD-PERP	+0.0059%	8h	1,050.3	+0.015%	$2K	—	5x	as long as short
Deribit MU_USDC-PERPETUALshort	+0.0064%	1h	1,049.8	−0.027%	$66K	$348K	10x
Pacifica MU	+0.0100%	1h	1,049.8	−0.036%	$148K	$187K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,049.9	−0.017%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,050	−0.012%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050.3	+0.019%	$835	$799	20x	as long as short
Injective MU/USDC PERP	+0.0107%	1h	1,051.4	+0.118%	$19K	$5K	12x	as long as short
Aster MUUSD1	+0.0125%	8h	1,050.1	−0.006%	$21.6M	$51.7M	20x	as long as short
Aevo MU-PERP	+0.0128%	1h	1,049.9	−0.021%	$32K	$1K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0128%	1h	1,048.1	−0.197%	$755K	$1.2M	10x	as long as short
Variational Omni MU	+0.0154%	8h	1,049.9	−0.018%	$2.7M	$2.4M	—	as long as short
Binance MUUSDT	+0.0172%	8h	1,050.3	+0.018%	$126.6M	$521.6M	50x	as long as short
Bitget MUUSDT	+0.0181%	8h	1,050.2	+0.008%	$20.6M	$41.3M	50x	as long as short
Phoenix MU	+0.0304%	1h	1,049.7	−0.040%	$537K	$273K	15x	as long as short
RISEx MU/USDC	+0.0507%	1h	1,050.3	+0.014%	$334K	$347K	20x	as long as short