Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0184%/8h= +20.1% APRpaid last 24h +0.076%

Price spread now: Coinbase International against HTX−0.023%59s7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs$0as 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−$370.371% of the position

Long on HTX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.369%+$37 on $10k

Price spread, last 3 days (all we have)−0.030%−$3 · spread now −0.023%, 7d avg −0.035%

Together, before fees+0.339%+$34 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.035%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate. The two prices were read 59 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	HTX MU-USDT	1,044.1	0	get 0.0000% / 8h	1h 27m	$125K	$441K	50x
Short	Coinbase International MU-PERP-INTX	1,043.9	0.0184	get 0.0023% / 1h	27m 24s	$756K	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.023%Rate

Funding earned: $38.64
Price spread: −0.023% → −0.035%: $1.18
Slippage, 4 orders: −$15.13
Fee HTX: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $2.69
Costs to cover: 0.371%
Break-even: 6.5 days

Slippage from HTX: live order book, 56 min ago; Coinbase International: live order book, 1 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, 56 min ago	3.40 bp	10.6 bp −$11	15.1 bp −$151	24.0 bp −$2,396	doesn't fit
Sell Coinbase International live order book, 1 min ago	3.40 bp	8.4 bp −$8	8.5 bp −$85	66.0 bp −$6,599	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	−0.0856%	4h	1,044.1	−0.007%	$1.3M	$671K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,044.2	+0.005%	$62.9M	$29.0M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,043.2	−0.088%	$189K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,046.4	+0.219%	$11K	$6.6M	10x	as long as short
HTX MU-USDTlong	0.0000%	8h	1,044.1	long leg	$125K	$441K	50x
OKX MU-USDT-SWAP	+0.0026%	8h	1,044.2	+0.007%	$30.9M	$104.9M	50x	as long as short
Aftermath Perps MUUSD	+0.0031%	1h	1,043.8	−0.034%	$3K	$45K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,044.1	−0.006%	$1.2M	$4.2M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.629%	$14K	$302	12x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,043.9	−0.025%	—	$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	1,044	−0.013%	$165K	$189K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,044.1	−0.001%	$685K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,043.1	−0.101%	$2.0M	$2.7M	10x	as long as short
QFEX MU-USD	+0.0071%	1h	1,044.4	+0.022%	$7.8M	$24.2M	10x	as long as short
Aster MUUSD1	+0.0072%	8h	1,044.8	+0.066%	$21.5M	$47.4M	20x	as long as short
Bitget MUUSDT	+0.0096%	8h	1,044.3	+0.013%	$20.4M	$43.1M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,043.7	−0.042%	$154K	$181K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,043.6	−0.054%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,044	−0.011%	$71K	$266K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,044.2	+0.008%	$830	$799	20x	as long as short
Aevo MU-PERP	+0.0120%	1h	1,043.9	−0.020%	$33K	—	10x	as long as short
Variational Omni MU	+0.0129%	8h	1,043.8	−0.030%	$2.6M	$2.7M	—	as long as short
Paradex MU-USD-PERP	+0.0132%	8h	1,044.2	+0.007%	$2K	—	5x	as long as short
Binance MUUSDT	+0.0151%	8h	1,044.3	+0.013%	$124.9M	$536.0M	50x	as long as short
Coinbase International MU-PERP-INTXshort	+0.0184%	1h	1,043.9	−0.023%	$756K	$1.4M	10x
Lighter MU	+0.0192%	1h	1,044.3	+0.013%	$1.0M	$4.8M	20x	as long as short
Nado MU-PERP	+0.0209%	1h	1,043.4	−0.068%	$266K	$868K	10x	as long as short
GRVT MU_USDT_Perp	+0.0210%	8h	1,044.6	+0.040%	$82K	$1.4M	10x	as long as short
Bybit MUUSDT	+0.0235%	8h	1,044.6	+0.039%	$19.2M	$32.6M	100x	as long as short
Bullet MU-USD	+0.0267%	1h	1,044.4	+0.025%	$26K	$398K	10x	as long as short
BloFin MU-USDT	+0.0268%	8h	1,044.6	+0.044%	$1.4M	$2.1M	20x	as long as short
tradeXYZ xyz:MU	+0.0332%	1h	1,043.9	−0.023%	$176.4M	$107.1M	10x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0383%	1h	1,044	−0.013%	$61K	$247K	10x	as long as short
Phoenix MU	+0.0383%	1h	1,044.4	+0.025%	$534K	$306K	15x	as long as short
Arcus MU-USD	+0.0435%	1h	1,044	−0.016%	$73K	$241K	10x	as long as short
RISEx MU/USDC	+0.0499%	1h	1,044.7	+0.049%	$295K	$338K	20x	as long as short
Extended MU_24_5-USD	+0.0648%	1h	1,043.2	−0.085%	$541K	$1.1M	10x	as long as short