Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0107%/8h= −11.7% APRpaid last 24h −0.014%

Price spread now: SunX against Injective−0.050%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 SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.023%+$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 −$3 a day on $10k at the current rate, and SunX is 0.050% cheaper against Injective than usual: you would sell low and buy high (−$5 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	0.0107	pay 0.0013% / 1h	45m 12s	$19K	$5K	12x
Short	SunX MU-USDT	1,050.8	0	get 0.0000% / 8h	6h 45m	$11K	$6.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.050%Rate

Funding earned: −$22.46
Price spread: −0.050% → 0.000%: −$5.04
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee SunX: 4 bp × 2 orders: −$8
Net: −$35.52
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; SunX: live order book, 3 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 SunX live order book, 3 min ago	21.56 bp	32.8 bp −$33	doesn't fit	doesn't fit	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	−0.0702%	4h	1,049.5	−0.181%	$1.3M	$672K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,049.6	−0.170%	$62.2M	$27.5M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,049.5	−0.179%	$190K	$3.4M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,049.4	−0.186%	$26K	$396K	10x	as long as short
SunX MU-USDTshort	0.0000%	8h	1,050.8	−0.050%	$11K	$6.1M	10x
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,049.1	−0.214%	$65K	$323K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,049.1	−0.218%	$129K	$429K	50x	as long as short
Nado MU-PERP	0.0000%	1h	1,049.6	−0.163%	$273K	$858K	10x	as long as short
Aftermath Perps MUUSD	+0.0022%	1h	1,049.6	−0.165%	$3K	$45K	10x	as long as short
Lighter MU	+0.0032%	1h	1,049.4	−0.186%	$1.1M	$4.8M	20x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH MU	+0.0032%	1h	1,049.3	−0.201%	$1.1M	$4.1M	10x	as long as short
QFEX MU-USD	+0.0040%	1h	1,049.7	−0.163%	$7.5M	$20.3M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,049.6	−0.165%	$71K	$242K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,050.6	−0.069%	—	$178K	25x	as long as short
Bybit MUUSDT	+0.0047%	8h	1,049.8	−0.148%	$19.3M	$32.6M	100x	as long as short
Extended MU_24_5-USD	+0.0048%	1h	1,048.9	−0.230%	$563K	$1.2M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,049.4	−0.186%	$170K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,049.5	−0.182%	$689K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,049	−0.221%	$1.9M	$2.4M	10x	as long as short
tradeXYZ xyz:MU	+0.0068%	1h	1,049.4	−0.186%	$178.3M	$100.0M	10x	as long as short
Paradex MU-USD-PERP	+0.0072%	8h	1,049.9	−0.140%	$2K	—	5x	as long as short
OKX MU-USDT-SWAP	+0.0081%	8h	1,049.5	−0.173%	$30.9M	$100.8M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,049.5	−0.176%	$148K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,049.7	−0.160%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,049.8	−0.148%	$71K	$267K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,049.4	−0.184%	$834	$799	20x	as long as short
Injective MU/USDC PERPlong	+0.0107%	1h	1,051.4	long leg	$19K	$5K	12x
Coinbase International MU-PERP-INTX	+0.0128%	1h	1,050.3	−0.104%	$761K	$1.2M	10x	as long as short
Aevo MU-PERP	+0.0144%	1h	1,049.2	−0.207%	$32K	$1K	10x	as long as short
Variational Omni MU	+0.0230%	8h	1,049.6	−0.168%	$2.7M	$2.4M	—	as long as short
Aster MUUSD1	+0.0231%	8h	1,049.7	−0.154%	$21.6M	$49.2M	20x	as long as short
Binance MUUSDT	+0.0240%	8h	1,049.4	−0.182%	$126.3M	$523.8M	50x	as long as short
GRVT MU_USDT_Perp	+0.0291%	8h	1,049.8	−0.146%	$81K	$1.3M	10x	as long as short
Phoenix MU	+0.0304%	1h	1,050	−0.129%	$537K	$273K	15x	as long as short
Bitget MUUSDT	+0.0337%	8h	1,049.7	−0.161%	$20.3M	$41.8M	50x	as long as short
BloFin MU-USDT	+0.0368%	8h	1,049.8	−0.147%	$1.5M	$2.0M	20x	as long as short
RISEx MU/USDC	+0.0507%	1h	1,050	−0.132%	$334K	$349K	20x	as long as short