Funding arb · Price arb /

MU

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0720%/8h= +78.8% APRpaid last 24h +0.058%

Price spread now: Extended against HTX−0.073%7-day average −0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$8as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$260.259% of the position

Long on HTX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.182%+$18 on $10k

Price spread, last 3 days (all we have)−0.021%−$2 · spread now −0.073%, 7d avg −0.037%

Together, before fees+0.162%+ Points / potential airdropExtended: Active · farm board+$16 on $10k · with fees, hour by hour

Funding pays, the price is against you. Extended is 0.035% cheaper against HTX than usual: you would sell low and buy high (spread −0.073% now, against its 7-day average of −0.037%). If the spread goes back, that is −$4 on $10k: about 4 hours of funding at the current rate (+$22 a day). At the pace of the last 7 days (+0.182% in total) that is about 33 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.182% in total (about 9.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX MU-USDT	1,045.8	0	get 0.0000% / 8h	47m 06s	$124K	$446K	50x
Short	Extended MU_24_5-USD	1,045.1	0.0720	get 0.0090% / 1h	47m 06s	$540K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.073%Rate

Funding earned: $151.2
Price spread: −0.073% → −0.037%: −$3.53
Slippage, 4 orders: −$8.92
Fee HTX: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $121.74
Costs to cover: 0.259%
Break-even: 1.4 days

Slippage from HTX: live order book, 31 min ago; Extended: 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, 31 min ago	3.69 bp	9.7 bp −$10	14.5 bp −$145	19.6 bp −$1,963	doesn't fit
Sell Extended live order book, 1 min ago	0.05 bp	2.8 bp −$3	8.5 bp −$85	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	−0.0477%	4h	1,045.5	−0.035%	$1.3M	$673K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,046.1	+0.024%	$63.1M	$28.9M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,044.9	−0.089%	$189K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,048.4	+0.244%	$11K	$6.6M	10x	as long as short
HTX MU-USDTlong	0.0000%	8h	1,045.8	long leg	$124K	$446K	50x
Lighter RH MU	+0.0032%	1h	1,046.1	+0.024%	$1.2M	$4.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.467%	$14K	$302	12x	as long as short
Aftermath Perps MUUSD	+0.0036%	1h	1,044.7	−0.107%	$3K	$45K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,045.8	−0.001%	—	$194K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,045.6	−0.022%	$166K	$197K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MU-USD.P	+0.0050%	1h	1,044.6	−0.115%	$2.0M	$2.7M	10x	as long as short
OKX MU-USDT-SWAP	+0.0079%	8h	1,046.3	+0.040%	$30.8M	$105.2M	50x	as long as short
QFEX MU-USD	+0.0080%	1h	1,045.9	+0.003%	$7.9M	$23.9M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,046	+0.014%	$153K	$182K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,045.3	−0.050%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,045.9	+0.005%	$71K	$266K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,046.2	+0.031%	$832	$799	20x	as long as short
SoDEX MU-USD	+0.0132%	1h	1,046.1	+0.024%	$687K	$16K	10x	as long as short
Bitget MUUSDT	+0.0135%	8h	1,046.2	+0.032%	$20.5M	$43.6M	50x	as long as short
Aevo MU-PERP	+0.0136%	1h	1,045.9	+0.008%	$33K	—	10x	as long as short
Paradex MU-USD-PERP	+0.0158%	8h	1,045.9	+0.006%	$2K	—	5x	as long as short
Aster MUUSD1	+0.0160%	8h	1,046.6	+0.071%	$21.6M	$47.3M	20x	as long as short
Variational Omni MU	+0.0189%	8h	1,045.5	−0.032%	$2.6M	$2.5M	—	as long as short
Lighter MU	+0.0200%	1h	1,046.1	+0.026%	$1.0M	$4.8M	20x	as long as short
Binance MUUSDT	+0.0209%	8h	1,046.2	+0.039%	$124.9M	$533.0M	50x	as long as short
Coinbase International MU-PERP-INTX	+0.0224%	1h	1,045.6	−0.027%	$757K	$1.4M	10x	as long as short
GRVT MU_USDT_Perp	+0.0253%	8h	1,045.7	−0.009%	$77K	$1.4M	10x	as long as short
Nado MU-PERP	+0.0265%	1h	1,045.3	−0.047%	$270K	$875K	10x	as long as short
Bullet MU-USD	+0.0265%	1h	1,046	+0.016%	$24K	$396K	10x	as long as short
Bybit MUUSDT	+0.0284%	8h	1,046.4	+0.057%	$19.2M	$32.6M	100x	as long as short
tradeXYZ xyz:MU	+0.0313%	1h	1,046.2	+0.035%	$176.8M	$105.6M	10x	as long as short
BloFin MU-USDT	+0.0329%	8h	1,046.4	+0.050%	$1.4M	$2.0M	20x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0353%	1h	1,045.9	+0.010%	$62K	$257K	10x	as long as short
Phoenix MU	+0.0460%	1h	1,045.9	+0.007%	$535K	$306K	15x	as long as short
Arcus MU-USD	+0.0462%	1h	1,045.5	−0.036%	$74K	$240K	10x	as long as short
RISEx MU/USDC	+0.0525%	1h	1,046.2	+0.039%	$317K	$339K	20x	as long as short
Extended MU_24_5-USDshort	+0.0720%	1h	1,045.1	−0.073%	$540K	$1.1M	10x