Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.042%

Price spread now: Deribit against HTX+0.009%7-day average −0.021% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$460.458% of the position

Long on HTX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.068%+$7 on $10k

Price spread, last 4 days (all we have)−0.075%−$8 · spread now +0.009%, 7d avg −0.021%

Together, before fees−0.007%−$1 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 0.030% dearer against HTX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX MU-USDT	1,038.8	0	get 0.0000% / 8h	2h 12m	$127K	$449K	50x
Short	Deribit MU_USDC-PERPETUAL	1,038.8	0	get 0.0000% / 1h	12m 30s	$74K	$527K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.009%Rate

Funding earned: $0
Price spread: +0.009% → −0.021%: $2.97
Slippage, 4 orders: −$26.84
Fee HTX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$42.87
Costs to cover: 0.458%
Break-even: never at this rate

Slippage from HTX: live order book, 36 min ago; Deribit: live order book, 36 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, 36 min ago	3.16 bp	9.2 bp −$9	13.6 bp −$136	19.1 bp −$1,909	doesn't fit
Sell Deribit live order book, 36 min ago	3.65 bp	9.4 bp −$9	13.4 bp −$134	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
Bitget MUUSDT	−0.0159%	8h	1,039.9	+0.111%	$20.3M	$41.2M	50x	as long as short
edgeX MUUSDC	−0.0146%	4h	1,036.6	−0.204%	$1.3M	$673K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,039.1	+0.031%	$21.1M	$57.2M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,039.6	+0.084%	$122.0M	$534.9M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,039.8	+0.104%	$18.6M	$32.1M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,039.5	+0.076%	$30.0M	$101.3M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,039.6	+0.083%	$316K	$382K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,039.5	+0.069%	$61.6M	$28.5M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,036.4	−0.227%	$2.5M	$2.5M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,037.3	−0.136%	$84K	$1.4M	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX MU-USD	0.0000%	1h	1,038.1	−0.061%	$188K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,040.6	+0.174%	$11K	$5.7M	10x	as long as short
Deribit MU_USDC-PERPETUALshort	0.0000%	1h	1,038.8	+0.009%	$74K	$527K	10x
HTX MU-USDTlong	0.0000%	8h	1,038.8	long leg	$127K	$449K	50x
Aftermath Perps MUUSD	+0.0015%	1h	1,037	−0.164%	$3K	$44K	10x	as long as short
QFEX MU-USD	+0.0023%	1h	1,039.6	+0.081%	$7.0M	$18.2M	10x	as long as short
Nado MU-PERP	+0.0023%	1h	1,039.4	+0.066%	$277K	$817K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,039.6	+0.082%	$1.2M	$4.6M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,039.2	+0.048%	$538K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.214%	$19K	$5K	12x	as long as short
Bullet MU-USD	+0.0036%	1h	1,039.3	+0.055%	$25K	$389K	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,037.8	−0.089%	$70K	$231K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,039.6	+0.084%	—	$175K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,039.5	+0.072%	$176.8M	$91.9M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,039.6	+0.082%	$169K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,038.8	+0.002%	$682K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,037.1	−0.164%	$1.9M	$2.5M	10x	as long as short
Paradex MU-USD-PERP	+0.0054%	8h	1,039.7	+0.089%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,038.6	−0.011%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,039.3	+0.054%	$147K	$189K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,039	+0.025%	$5.2M	$3.8M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,037.1	−0.157%	$70K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,038.7	−0.010%	$826	$799	20x	as long as short
Lighter MU	+0.0104%	1h	1,039.8	+0.098%	$1.0M	$5.0M	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,039	+0.022%	$1.5M	$2.0M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0144%	1h	1,036	−0.268%	$731K	$1.3M	10x	as long as short
Phoenix MU	+0.0231%	1h	1,039	+0.024%	$531K	$270K	15x	as long as short