Funding arb · Price arb /

MU

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.014%

Price spread now: Injective against HTX+0.244%65s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on HTX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.029%−$3 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Injective is 0.244% dearer against HTX than usual: you sell high and buy low: +$24 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 65 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	1,048.2	0	get 0.0000% / 8h	7h 56m	$130K	$418K	50x
Short	Injective MU/USDC PERP	1,050.7	0.0033	get 0.0004% / 1h	56m 20s	$14K	$251	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.244%Rate

Funding earned: $7
Price spread: +0.244% → 0.000%: $24.42
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $19.4
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: HTX: live order book, 17 min ago; Injective: no order-book sample. Net counts fees only.

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, 17 min ago	1.72 bp	10.3 bp −$10	14.8 bp −$148	20.1 bp −$2,006	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0299%	4h	1,044.8	−0.317%	$1.3M	$671K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,047.7	−0.046%	$63.1M	$28.3M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,046.4	−0.170%	$189K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,050.1	+0.188%	$11K	$6.4M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,048.2	0.000%	$62K	$291K	10x	as long as short
HTX MU-USDTlong	0.0000%	8h	1,048.2	long leg	$130K	$418K	50x
Aftermath Perps MUUSD	+0.0025%	1h	1,045.4	−0.261%	$3K	$45K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,048.4	+0.019%	$1.2M	$4.1M	10x	as long as short
Injective MU/USDC PERPshort	+0.0033%	1h	1,050.7	+0.244%	$14K	$251	12x
Lighter MU	+0.0040%	1h	1,048.2	0.000%	$1.1M	$4.7M	20x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MU-USD-PERP	+0.0046%	1h	1,048.3	+0.012%	—	$194K	25x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,046.4	−0.164%	$2.0M	$2.2M	10x	as long as short
QFEX MU-USD	+0.0054%	1h	1,047.5	−0.060%	$7.9M	$23.6M	10x	as long as short
Nado MU-PERP	+0.0056%	1h	1,046.8	−0.126%	$271K	$864K	10x	as long as short
OKX MU-USDT-SWAP	+0.0084%	8h	1,048.4	+0.025%	$30.9M	$102.0M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,047.7	−0.039%	$153K	$180K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,047	−0.113%	$5.3M	$3.8M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,045.8	−0.221%	$71K	$266K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,048.2	+0.001%	$833	$799	20x	as long as short
Paradex MU-USD-PERP	+0.0104%	8h	1,047.7	−0.043%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0128%	1h	1,046.7	−0.142%	$33K	—	10x	as long as short
Bitget MUUSDT	+0.0129%	8h	1,048	−0.016%	$20.6M	$41.7M	50x	as long as short
Variational Omni MU	+0.0168%	8h	1,048.2	0.000%	$2.7M	$2.5M	—	as long as short
Aster MUUSD1	+0.0172%	8h	1,047.7	−0.041%	$21.6M	$47.8M	20x	as long as short
Binance MUUSDT	+0.0182%	8h	1,048.2	+0.007%	$125.3M	$526.9M	50x	as long as short
Coinbase International MU-PERP-INTX	+0.0184%	1h	1,046.7	−0.142%	$759K	$1.3M	10x	as long as short
Bybit MUUSDT	+0.0187%	8h	1,048.4	+0.024%	$19.2M	$32.6M	100x	as long as short
GRVT MU_USDT_Perp	+0.0204%	8h	1,045.8	−0.226%	$82K	$1.4M	10x	as long as short
Arcus MU-USD	+0.0240%	1h	1,046.2	−0.190%	$71K	$243K	10x	as long as short
BloFin MU-USDT	+0.0301%	8h	1,048	−0.011%	$1.5M	$2.0M	20x	as long as short
RISEx MU/USDC	+0.0312%	1h	1,047.9	−0.028%	$315K	$339K	20x	as long as short
Extended MU_24_5-USD	+0.0448%	1h	1,044.4	−0.362%	$550K	$1.0M	10x	as long as short
Phoenix MU	+0.0460%	1h	1,046	−0.205%	$535K	$306K	15x	as long as short
SoDEX MU-USD	+0.0464%	1h	1,048	−0.014%	$688K	$16K	10x	as long as short
Polymarket Perps MU-USD	+0.0532%	1h	1,046.6	−0.148%	$169K	$202K	10x	as long as short
Bullet MU-USD	+0.0819%	1h	1,048.1	0.000%	$26K	$394K	10x	as long as short
tradeXYZ xyz:MU	+0.0893%	1h	1,046.7	−0.138%	$177.3M	$105.2M	10x	as long as short