Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.008%

Price spread now: HTX against Injective−1.223%7-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 HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.010%+$1 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 HTX is 1.223% cheaper against Injective than usual: you would sell low and buy high (−$122 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

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	54m 35s	$19K	$5K	12x
Short	HTX MU-USDT	1,038.5	0	get 0.0000% / 8h	1h 54m	$128K	$441K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −1.223%Rate

Funding earned: −$7
Price spread: −1.223% → 0.000%: −$122.32
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee HTX: 6 bp × 2 orders: −$12
Net: −$141.34
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; HTX: live order book, 54 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 HTX live order book, 54 min ago	3.16 bp	10.6 bp −$11	10.8 bp −$108	17.5 bp −$1,749	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	−0.0729%	4h	1,040.3	−1.054%	$1.3M	$671K	10x	as long as short
Bitget MUUSDT	−0.0071%	8h	1,037.8	−1.289%	$20.2M	$41.3M	50x	as long as short
Aster MUUSD1	0.0000%	8h	1,037.7	−1.296%	$21.1M	$57.3M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,037.4	−1.328%	$121.6M	$536.7M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,037.6	−1.307%	$18.6M	$32.2M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,037.6	−1.309%	$29.9M	$101.4M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,037.6	−1.313%	$315K	$384K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,037.9	−1.277%	$61.4M	$28.2M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,038.8	−1.199%	$2.5M	$2.6M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,039.7	−1.105%	$84K	$1.4M	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX MU-USD	0.0000%	1h	1,038.7	−1.202%	$188K	$3.5M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,038.9	−1.188%	$26K	$390K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,040.3	−1.053%	$11K	$5.6M	10x	as long as short
HTX MU-USDTshort	0.0000%	8h	1,038.5	−1.223%	$128K	$441K	50x
Nado MU-PERP	+0.0003%	1h	1,037.7	−1.300%	$277K	$817K	10x	as long as short
Aftermath Perps MUUSD	+0.0019%	1h	1,039.5	−1.129%	$3K	$44K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,037.6	−1.306%	$1.2M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,036.7	−1.398%	$544K	$1.1M	10x	as long as short
QFEX MU-USD	+0.0032%	1h	1,037.2	−1.348%	$7.0M	$18.4M	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	1,038.9	−1.187%	$70K	$230K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,037.8	−1.288%	—	$175K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,037.6	−1.309%	$176.4M	$89.1M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,037.2	−1.347%	$168K	$196K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,038.5	−1.222%	$682K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,038.9	−1.187%	$1.8M	$2.5M	10x	as long as short
Paradex MU-USD-PERP	+0.0053%	8h	1,038	−1.272%	$2K	—	5x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0058%	1h	1,038.7	−1.207%	$74K	$541K	10x	as long as short
Lighter MU	+0.0064%	1h	1,037.9	−1.281%	$1.1M	$4.9M	20x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,038.3	−1.241%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,037.8	−1.293%	$147K	$190K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,037.8	−1.293%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,039.2	−1.158%	$70K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,038.6	−1.213%	$826	$799	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0104%	1h	1,036	−1.464%	$731K	$1.3M	10x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,038.7	−1.205%	$1.4M	$2.1M	20x	as long as short
Phoenix MU	+0.0231%	1h	1,039.4	−1.138%	$532K	$270K	15x	as long as short