Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: SoDEX against HTX+0.035%7-day average −0.016% · 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−$39as in the Price arb table

costs, in and out, $10k−$440.443% of the position

Long on HTX Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.062%+$6 on $10k

Price spread, last 4 days (all we have)−0.110%−$11 · spread now +0.035%, 7d avg −0.016%

Together, before fees−0.048%−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and SoDEX is 0.052% dearer against HTX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX MU-USDT	1,052	0	get 0.0000% / 8h	5h 06m	$130K	$430K	50x
Short	SoDEX MU-USD	1,052.4	0.0050	get 0.0006% / 1h	6m 35s	$691K	$16K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.035%Rate

Funding earned: $10.5
Price spread: +0.035% → −0.016%: $5.15
Slippage, 4 orders: −$24.34
Fee HTX: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$28.69
Costs to cover: 0.443%
Break-even: 26.1 days

Slippage from HTX: live order book, 57 min ago; SoDEX: live order book, 57 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, 57 min ago	3.43 bp	10.1 bp −$10	15.5 bp −$155	27.6 bp −$2,762	doesn't fit
Sell SoDEX live order book, 57 min ago	0.05 bp	12.3 bp −$12	40.0 bp −$400	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	−0.0083%	4h	1,052	+0.002%	$1.3M	$671K	10x	as long as short
RISEx MU/USDC	0.0000%	1h	1,052.5	+0.050%	$334K	$348K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,052.3	+0.025%	$62.0M	$27.6M	75x	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,052.3	+0.028%	$78K	$1.3M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,052.2	+0.014%	$190K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,054.3	+0.216%	$11K	$5.8M	10x	as long as short
HTX MU-USDTlong	0.0000%	8h	1,052	long leg	$130K	$430K	50x
Bybit MUUSDT	+0.0009%	8h	1,052.8	+0.073%	$19.2M	$32.3M	100x	as long as short
OKX MU-USDT-SWAP	+0.0017%	8h	1,052.5	+0.043%	$31.1M	$100.0M	50x	as long as short
Aftermath Perps MUUSD	+0.0018%	1h	1,051.7	−0.030%	$3K	$44K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX MU-USD	+0.0030%	1h	1,052.2	+0.014%	$7.2M	$18.1M	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,052.2	+0.013%	$1.3M	$4.5M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	−0.063%	$19K	$5K	12x	as long as short
Aster MUUSD1	+0.0038%	8h	1,052.3	+0.026%	$21.4M	$54.7M	20x	as long as short
Arcus MU-USD	+0.0040%	1h	1,051.8	−0.017%	$71K	$234K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,053.4	+0.134%	—	$175K	25x	as long as short
Nado MU-PERP	+0.0047%	1h	1,052	−0.004%	$282K	$845K	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,052.2	+0.017%	$171K	$202K	10x	as long as short
SoDEX MU-USDshort	+0.0050%	1h	1,052.4	+0.035%	$691K	$16K	10x
Ondo Perps MU-USD.P	+0.0050%	1h	1,051.5	−0.048%	$1.9M	$2.3M	10x	as long as short
Paradex MU-USD-PERP	+0.0054%	8h	1,052.5	+0.046%	$2K	—	5x	as long as short
Lighter MU	+0.0056%	1h	1,052.2	+0.021%	$1.1M	$5.1M	20x	as long as short
tradeXYZ xyz:MU	+0.0062%	1h	1,052.1	+0.008%	$178.5M	$98.9M	10x	as long as short
Bullet MU-USD	+0.0065%	1h	1,052.5	+0.048%	$26K	$398K	10x	as long as short
Extended MU_24_5-USD	+0.0072%	1h	1,051.6	−0.036%	$564K	$1.1M	10x	as long as short
Variational Omni MU	+0.0081%	8h	1,051.9	−0.011%	$2.7M	$2.4M	—	as long as short
Coinbase International MU-PERP-INTX	+0.0096%	1h	1,051.9	−0.008%	$758K	$1.2M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,052.5	+0.042%	$148K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,052	+0.001%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,051.8	−0.018%	$71K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,052.3	+0.026%	$837	$799	20x	as long as short
Aevo MU-PERP	+0.0104%	1h	1,052.1	+0.004%	$32K	$1K	10x	as long as short
Binance MUUSDT	+0.0105%	8h	1,052.4	+0.036%	$126.7M	$518.0M	50x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0111%	1h	1,052.3	+0.026%	$69K	$389K	10x	as long as short
Bitget MUUSDT	+0.0133%	8h	1,052.4	+0.031%	$20.6M	$41.0M	50x	as long as short
BloFin MU-USDT	+0.0227%	8h	1,052.2	+0.016%	$1.5M	$2.0M	20x	as long as short
Phoenix MU	+0.0229%	1h	1,052.7	+0.065%	$538K	$271K	15x	as long as short