Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0087%/8h= +9.6% APRpaid last 24h +0.061%

Price spread now: Coinbase International against OKX−0.116%7-day average −0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$2as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$270.266% of the position

Long on OKX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.244%+$24 on $10k

Price spread, last 3 days (all we have)+0.051%+$5 · spread now −0.116%, 7d avg −0.033%

Together, before fees+0.295%+$30 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.083% cheaper against OKX than usual: you would sell low and buy high (spread −0.116% now, against its 7-day average of −0.033%). If the spread goes back, that is −$8 on $10k: about 3.2 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MU-USDT-SWAP	1,049.6	0.0097	pay 0.0097% / 8h	7h 31m	$30.9M	$101.9M	50x
Short	Coinbase International MU-PERP-INTX	1,048.4	0.0184	get 0.0023% / 1h	31m 05s	$759K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against OKX. 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 OKXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.116%Rate

Funding earned: $18.34
Price spread: −0.116% → −0.033%: −$8.32
Slippage, 4 orders: −$6.63
Fee OKX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$16.61
Costs to cover: 0.266%
Break-even: 13.3 days

Slippage from OKX: live order book, 3 min ago; Coinbase International: live order book, 2 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 OKX live order book, 3 min ago	0.05 bp	5.1 bp −$5	7.1 bp −$71	21.4 bp −$2,138	doesn't fit
Sell Coinbase International live order book, 2 min ago	2.77 bp	7.8 bp −$8	7.8 bp −$78	60.4 bp −$6,037	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	−0.0111%	4h	1,049.2	−0.032%	$1.3M	$673K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,049.4	−0.017%	$62.8M	$28.9M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,048.9	−0.068%	$190K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,051.2	+0.152%	$11K	$6.2M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,049.5	−0.010%	$129K	$425K	50x	as long as short
Aftermath Perps MUUSD	+0.0022%	1h	1,049.4	−0.022%	$3K	$45K	10x	as long as short
Lighter MU	+0.0032%	1h	1,049.5	−0.008%	$1.1M	$4.8M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,049.4	−0.018%	$1.2M	$4.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.170%	$19K	$5K	12x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,050.3	+0.065%	—	$179K	25x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps MU-USD	+0.0050%	1h	1,049.5	−0.008%	$171K	$203K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,048.9	−0.067%	$1.9M	$2.3M	10x	as long as short
QFEX MU-USD	+0.0054%	1h	1,049.6	+0.004%	$7.8M	$22.6M	10x	as long as short
Nado MU-PERP	+0.0077%	1h	1,049.1	−0.044%	$275K	$858K	10x	as long as short
SoDEX MU-USD	+0.0087%	1h	1,049.5	−0.009%	$689K	$16K	10x	as long as short
Paradex MU-USD-PERP	+0.0090%	8h	1,049.8	+0.020%	$2K	—	5x	as long as short
OKX MU-USDT-SWAPlong	+0.0097%	8h	1,049.6	long leg	$30.9M	$101.9M	50x
Pacifica MU	+0.0100%	1h	1,049.6	+0.006%	$148K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,049.2	−0.032%	$5.3M	$3.6M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,048.8	−0.071%	$71K	$267K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,049.6	−0.003%	$834	$799	20x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0103%	1h	1,049.4	−0.021%	$64K	$302K	10x	as long as short
Aevo MU-PERP	+0.0136%	1h	1,049.4	−0.016%	$32K	$1K	10x	as long as short
Bybit MUUSDT	+0.0162%	8h	1,049.9	+0.026%	$19.1M	$32.5M	100x	as long as short
Coinbase International MU-PERP-INTXshort	+0.0184%	1h	1,048.4	−0.116%	$759K	$1.2M	10x
Variational Omni MU	+0.0211%	8h	1,049.7	+0.010%	$2.7M	$2.4M	—	as long as short
Aster MUUSD1	+0.0217%	8h	1,049	−0.055%	$21.6M	$48.3M	20x	as long as short
Binance MUUSDT	+0.0222%	8h	1,049.7	+0.015%	$126.0M	$524.3M	50x	as long as short
Arcus MU-USD	+0.0240%	1h	1,049	−0.051%	$71K	$243K	10x	as long as short
Bullet MU-USD	+0.0245%	1h	1,049.8	+0.021%	$26K	$395K	10x	as long as short
tradeXYZ xyz:MU	+0.0282%	1h	1,049.3	−0.027%	$178.0M	$101.1M	10x	as long as short
RISEx MU/USDC	+0.0312%	1h	1,049.8	+0.026%	$316K	$339K	20x	as long as short
Bitget MUUSDT	+0.0329%	8h	1,049.6	+0.003%	$20.6M	$41.6M	50x	as long as short
BloFin MU-USDT	+0.0342%	8h	1,049.6	+0.006%	$1.5M	$2.0M	20x	as long as short
Phoenix MU	+0.0383%	1h	1,048.3	−0.122%	$536K	$306K	15x	as long as short
Extended MU_24_5-USD	+0.0416%	1h	1,049	−0.058%	$566K	$1.2M	10x	as long as short
GRVT MU_USDT_Perp	+0.0570%	8h	1,048.5	−0.102%	$83K	$1.3M	10x	as long as short