Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0105%/8h= +11.4% APRpaid last 24h +0.017%

Price spread now: Binance against Injective−0.036%117s7-day average — · you buy dearer than you sell

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

Long on Injective Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.179%+$18 on $10k

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

Together, before fees—needs both histories

Funding pays, the price is against you. Binance is 0.036% cheaper against Injective than usual: you would sell low and buy high (spread −0.036% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 28 hours of funding at the current rate (+$3 a day). The two prices were read 117 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	Injective MU/USDC PERP	1,051.4	0.0033	pay 0.0004% / 1h	31m 20s	$19K	$5K	12x
Short	Binance MUUSDT	1,051	0.0138	get 0.0138% / 8h	5h 31m	$126.6M	$518.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Injective. 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 InjectivebpFee BinancebpOrdersPrice spread, now −0.036%Rate

Funding earned: $21.95
Price spread: −0.036% → 0.000%: −$3.65
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: $8.28
Costs to cover: 0.100%
Break-even: 4.4 days

Slippage unknown: Injective: no order-book sample; Binance: live order book, 12 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell Binance live order book, 12 min ago	0.05 bp	5.3 bp −$5	7.1 bp −$71	15.8 bp −$1,580	doesn't fit

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	−0.0330%	4h	1,050.5	−0.082%	$1.3M	$672K	10x	as long as short
Bybit MUUSDT	0.0000%	8h	1,051.3	−0.007%	$19.2M	$32.3M	100x	as long as short
RISEx MU/USDC	0.0000%	1h	1,051.3	−0.007%	$333K	$348K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,050.9	−0.041%	$62.1M	$27.4M	75x	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,050.8	−0.055%	$85K	$1.3M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,050.3	−0.097%	$190K	$3.4M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,052.5	+0.110%	$11K	$5.9M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,050.4	−0.096%	$67K	$370K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,050.6	−0.076%	$129K	$428K	50x	as long as short
Aftermath Perps MUUSD	+0.0020%	1h	1,050.1	−0.122%	$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
OKX MU-USDT-SWAP	+0.0026%	8h	1,051.2	−0.015%	$31.0M	$99.9M	50x	as long as short
QFEX MU-USD	+0.0030%	1h	1,050.7	−0.059%	$7.2M	$18.2M	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,050.7	−0.065%	$1.2M	$4.3M	10x	as long as short
Injective MU/USDC PERPlong	+0.0033%	1h	1,051.4	long leg	$19K	$5K	12x
Arcus MU-USD	+0.0040%	1h	1,050.4	−0.095%	$71K	$235K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,051.8	+0.044%	—	$175K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,050.8	−0.053%	$171K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,050.8	−0.057%	$690K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,049.8	−0.151%	$1.9M	$2.3M	10x	as long as short
Lighter MU	+0.0056%	1h	1,050.8	−0.049%	$1.1M	$4.9M	20x	as long as short
Extended MU_24_5-USD	+0.0056%	1h	1,050.2	−0.107%	$564K	$1.1M	10x	as long as short
Paradex MU-USD-PERP	+0.0056%	8h	1,051	−0.036%	$2K	—	5x	as long as short
Nado MU-PERP	+0.0058%	1h	1,050.7	−0.066%	$282K	$848K	10x	as long as short
tradeXYZ xyz:MU	+0.0063%	1h	1,050.8	−0.053%	$178.2M	$99.2M	10x	as long as short
Aster MUUSD1	+0.0075%	8h	1,051	−0.030%	$21.4M	$52.1M	20x	as long as short
Bullet MU-USD	+0.0077%	1h	1,051.1	−0.026%	$26K	$398K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0096%	1h	1,049.9	−0.135%	$756K	$1.2M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,050.5	−0.083%	$149K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,050.8	−0.057%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,050	−0.129%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050.9	−0.046%	$835	$799	20x	as long as short
Aevo MU-PERP	+0.0120%	1h	1,050.7	−0.067%	$32K	$1K	10x	as long as short
Variational Omni MU	+0.0122%	8h	1,050.5	−0.085%	$2.7M	$2.4M	—	as long as short
Bitget MUUSDT	+0.0131%	8h	1,050.9	−0.040%	$20.6M	$41.1M	50x	as long as short
Binance MUUSDTshort	+0.0138%	8h	1,051	−0.036%	$126.6M	$518.8M	50x
Phoenix MU	+0.0229%	1h	1,050.8	−0.053%	$537K	$271K	15x	as long as short
BloFin MU-USDT	+0.0261%	8h	1,050.8	−0.058%	$1.5M	$2.0M	20x	as long as short