Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0276%/8h= +30.2% APRpaid last 24h +0.056%

Price spread now: Bullet against HTX−0.004%7-day average +0.015% · 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−$35as in the Price arb table

costs, in and out, $10k−$330.332% of the position

Long on HTX Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.126%+$13 on $10k

Price spread, last 3 days (all we have)+0.018%+$2 · spread now −0.004%, 7d avg +0.015%

Together, before fees+0.144%+$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.015%, so right now this pair is about funding alone: +$8 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX MU-USDT	1,043.7	0	get 0.0000% / 8h	1h 18m	$125K	$442K	50x
Short	Bullet MU-USD	1,043.7	0.0276	get 0.0034% / 1h	18m 46s	$27K	$396K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against HTX. 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 HTXbpFee BulletbpOrdersPrice spread, now −0.004%Rate

Funding earned: $57.9
Price spread: −0.004% → +0.015%: −$1.86
Slippage, 4 orders: −$13.21
Fee HTX: 6 bp × 2 orders: −$12
Fee Bullet: 4 bp × 2 orders: −$8
Net: $22.82
Costs to cover: 0.332%
Break-even: 4.2 days

Slippage from HTX: live order book, 65 min ago; Bullet: 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 HTX live order book, 65 min ago	3.40 bp	10.6 bp −$11	15.1 bp −$151	24.0 bp −$2,396	doesn't fit
Sell Bullet live order book, 65 min ago	0.48 bp	6.7 bp −$7	20.7 bp −$207	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	−0.0865%	4h	1,044.1	+0.036%	$1.3M	$673K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,043.5	−0.020%	$62.9M	$29.1M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,043.1	−0.057%	$189K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,046	+0.222%	$11K	$6.6M	10x	as long as short
HTX MU-USDTlong	0.0000%	8h	1,043.7	long leg	$125K	$442K	50x
Lighter RH MU	+0.0032%	1h	1,043.5	−0.021%	$1.2M	$4.2M	10x	as long as short
Aftermath Perps MUUSD	+0.0033%	1h	1,043.8	+0.007%	$3K	$45K	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.673%	$14K	$302	12x	as long as short
OKX MU-USDT-SWAP	+0.0036%	8h	1,043.7	−0.004%	$30.8M	$104.8M	50x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,043.3	−0.034%	—	$194K	25x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps MU-USD	+0.0050%	1h	1,043.4	−0.028%	$165K	$197K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,043.6	−0.009%	$685K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,042.9	−0.078%	$2.0M	$2.7M	10x	as long as short
QFEX MU-USD	+0.0071%	1h	1,043.7	+0.004%	$7.8M	$24.2M	10x	as long as short
Aster MUUSD1	+0.0087%	8h	1,044.4	+0.068%	$21.5M	$47.4M	20x	as long as short
Pacifica MU	+0.0100%	1h	1,043.5	−0.014%	$154K	$181K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,043.5	−0.022%	$5.2M	$4.0M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,043.5	−0.019%	$71K	$266K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,043.8	+0.009%	$830	$799	20x	as long as short
Bitget MUUSDT	+0.0103%	8h	1,043.5	−0.018%	$20.4M	$43.0M	50x	as long as short
Aevo MU-PERP	+0.0120%	1h	1,043.6	−0.008%	$33K	—	10x	as long as short
Paradex MU-USD-PERP	+0.0135%	8h	1,043.4	−0.027%	$2K	—	5x	as long as short
Variational Omni MU	+0.0141%	8h	1,044	+0.030%	$2.6M	$2.6M	—	as long as short
Binance MUUSDT	+0.0160%	8h	1,043.8	+0.011%	$124.8M	$535.8M	50x	as long as short
Coinbase International MU-PERP-INTX	+0.0184%	1h	1,043.2	−0.044%	$755K	$1.4M	10x	as long as short
Lighter MU	+0.0200%	1h	1,043.6	−0.007%	$999K	$4.8M	20x	as long as short
Nado MU-PERP	+0.0217%	1h	1,042.8	−0.088%	$266K	$868K	10x	as long as short
GRVT MU_USDT_Perp	+0.0218%	8h	1,044.2	+0.051%	$77K	$1.4M	10x	as long as short
Bybit MUUSDT	+0.0243%	8h	1,043.9	+0.021%	$19.2M	$32.6M	100x	as long as short
Bullet MU-USDshort	+0.0276%	1h	1,043.7	−0.004%	$27K	$396K	10x
BloFin MU-USDT	+0.0280%	8h	1,043.8	+0.011%	$1.4M	$2.0M	20x	as long as short
tradeXYZ xyz:MU	+0.0323%	1h	1,043.5	−0.018%	$176.2M	$106.7M	10x	as long as short
Phoenix MU	+0.0383%	1h	1,044.2	+0.049%	$534K	$306K	15x	as long as short
Arcus MU-USD	+0.0435%	1h	1,043.3	−0.041%	$73K	$241K	10x	as long as short
RISEx MU/USDC	+0.0499%	1h	1,044.1	+0.041%	$295K	$338K	20x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0613%	1h	1,043.6	−0.012%	$61K	$247K	10x	as long as short
Extended MU_24_5-USD	+0.0688%	1h	1,042.5	−0.110%	$542K	$1.1M	10x	as long as short