Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.012%

Price spread now: Gate against Injective−0.083%84s7-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 Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.019%+$2 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Gate is 0.083% cheaper against Injective than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 84 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	33m 53s	$19K	$5K	12x
Short	Gate MU_USDT	1,050.5	0	get 0.0000% / 8h	5h 33m	$62.1M	$27.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.083%Rate

Funding earned: −$7
Price spread: −0.083% → 0.000%: −$8.27
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$30.29
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Gate: live order book, 5 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 Gate live order book, 5 min ago	0.90 bp	10.8 bp −$11	15.7 bp −$157	35.9 bp −$3,595	62.5 bp −$31.2K

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	−0.0394%	4h	1,050.5	−0.080%	$1.3M	$671K	10x	as long as short
RISEx MU/USDC	0.0000%	1h	1,050.7	−0.066%	$333K	$348K	20x	as long as short
Gate MU_USDTshort	0.0000%	8h	1,050.5	−0.083%	$62.1M	$27.4M	75x
GRVT MU_USDT_Perp	0.0000%	8h	1,050.7	−0.062%	$85K	$1.3M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,050	−0.127%	$190K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,052.3	+0.086%	$11K	$5.9M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,050.2	−0.109%	$67K	$369K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,050.2	−0.110%	$129K	$428K	50x	as long as short
Bybit MUUSDT	+0.0003%	8h	1,050.7	−0.064%	$19.1M	$32.3M	100x	as long as short
Aftermath Perps MUUSD	+0.0020%	1h	1,050.1	−0.118%	$3K	$45K	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	+0.0028%	8h	1,050.6	−0.069%	$31.0M	$99.8M	50x	as long as short
QFEX MU-USD	+0.0030%	1h	1,050.3	−0.101%	$7.2M	$18.2M	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,050.5	−0.085%	$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	1,050.2	−0.110%	$71K	$235K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,051.3	−0.007%	—	$175K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,050.2	−0.110%	$170K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,050.4	−0.091%	$689K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,049.5	−0.174%	$1.9M	$2.3M	10x	as long as short
Lighter MU	+0.0056%	1h	1,050.6	−0.077%	$1.1M	$4.9M	20x	as long as short
Paradex MU-USD-PERP	+0.0057%	8h	1,050.4	−0.087%	$2K	—	5x	as long as short
Extended MU_24_5-USD	+0.0064%	1h	1,050	−0.132%	$564K	$1.1M	10x	as long as short
Nado MU-PERP	+0.0065%	1h	1,050.1	−0.120%	$282K	$848K	10x	as long as short
tradeXYZ xyz:MU	+0.0068%	1h	1,050.4	−0.091%	$178.2M	$99.2M	10x	as long as short
Aster MUUSD1	+0.0080%	8h	1,050.6	−0.076%	$21.4M	$52.1M	20x	as long as short
Bullet MU-USD	+0.0085%	1h	1,050.5	−0.079%	$25K	$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	1,050.3	−0.104%	$149K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,050.4	−0.089%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,051.1	−0.026%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050.5	−0.085%	$835	$799	20x	as long as short
Aevo MU-PERP	+0.0120%	1h	1,050.1	−0.116%	$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	+0.0134%	8h	1,050.5	−0.083%	$20.6M	$41.1M	50x	as long as short
Binance MUUSDT	+0.0144%	8h	1,050.7	−0.065%	$126.6M	$518.5M	50x	as long as short
Phoenix MU	+0.0229%	1h	1,050.7	−0.063%	$537K	$271K	15x	as long as short
BloFin MU-USDT	+0.0265%	8h	1,050.5	−0.081%	$1.5M	$2.0M	20x	as long as short