Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.035%

Price spread now: Deribit against OKX−0.029%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$400.400% of the position

Long on OKX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.014%+$1 on $10k

Price spread, last 3 days (all we have)−0.013%−$1 · spread now −0.029%, 7d avg −0.019%

Together, before fees+0.001%$0 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.019%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MU-USDT-SWAP	1,050.2	0.0098	pay 0.0098% / 8h	7h 30m	$30.9M	$102.0M	50x
Short	Deribit MU_USDC-PERPETUAL	1,049.9	0.0198	get 0.0025% / 1h	30m 21s	$64K	$303K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.029%Rate

Funding earned: $20.96
Price spread: −0.029% → −0.019%: −$0.95
Slippage, 4 orders: −$23.02
Fee OKX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$20
Costs to cover: 0.400%
Break-even: 13.7 days

Slippage from OKX: live order book, 4 min ago; Deribit: live order book, 43 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, 4 min ago	0.05 bp	5.1 bp −$5	7.1 bp −$71	21.4 bp −$2,138	doesn't fit
Sell Deribit live order book, 43 min ago	3.44 bp	14.8 bp −$15	18.3 bp −$183	doesn't fit	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	−0.088%	$1.3M	$673K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,049.8	−0.037%	$62.8M	$28.9M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,048.9	−0.124%	$190K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,051.6	+0.131%	$11K	$6.2M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,049.5	−0.067%	$129K	$425K	50x	as long as short
Aftermath Perps MUUSD	+0.0022%	1h	1,049.4	−0.077%	$3K	$45K	10x	as long as short
Lighter MU	+0.0032%	1h	1,049.7	−0.047%	$1.1M	$4.8M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,049.6	−0.051%	$1.2M	$4.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.113%	$19K	$5K	12x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,050.3	+0.010%	—	$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	1,049.7	−0.045%	$171K	$203K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,048.8	−0.134%	$1.9M	$2.3M	10x	as long as short
QFEX MU-USD	+0.0054%	1h	1,049.7	−0.047%	$7.8M	$22.6M	10x	as long as short
Nado MU-PERP	+0.0077%	1h	1,049.2	−0.089%	$275K	$858K	10x	as long as short
Paradex MU-USD-PERP	+0.0090%	8h	1,049.8	−0.039%	$2K	—	5x	as long as short
SoDEX MU-USD	+0.0092%	1h	1,050	−0.018%	$689K	$16K	10x	as long as short
OKX MU-USDT-SWAPlong	+0.0098%	8h	1,050.2	long leg	$30.9M	$102.0M	50x
Pacifica MU	+0.0100%	1h	1,049.9	−0.022%	$148K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,049.5	−0.068%	$5.3M	$3.6M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,048.8	−0.128%	$71K	$267K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050	−0.021%	$835	$799	20x	as long as short
Aevo MU-PERP	+0.0136%	1h	1,049.7	−0.044%	$32K	$1K	10x	as long as short
Bybit MUUSDT	+0.0180%	8h	1,050.3	+0.010%	$19.2M	$32.5M	100x	as long as short
Coinbase International MU-PERP-INTX	+0.0184%	1h	1,048.4	−0.172%	$759K	$1.2M	10x	as long as short
Deribit MU_USDC-PERPETUALshort	+0.0198%	1h	1,049.9	−0.029%	$64K	$303K	10x
Variational Omni MU	+0.0211%	8h	1,049.7	−0.046%	$2.7M	$2.4M	—	as long as short
Aster MUUSD1	+0.0219%	8h	1,049.3	−0.084%	$21.6M	$48.3M	20x	as long as short
Binance MUUSDT	+0.0224%	8h	1,050.1	−0.004%	$126.0M	$524.2M	50x	as long as short
Arcus MU-USD	+0.0240%	1h	1,049.2	−0.092%	$71K	$243K	10x	as long as short
Bullet MU-USD	+0.0241%	1h	1,050.1	−0.007%	$26K	$395K	10x	as long as short
tradeXYZ xyz:MU	+0.0280%	1h	1,049.8	−0.035%	$178.1M	$101.1M	10x	as long as short
RISEx MU/USDC	+0.0312%	1h	1,049.9	−0.026%	$316K	$339K	20x	as long as short
Bitget MUUSDT	+0.0331%	8h	1,050	−0.012%	$20.6M	$41.6M	50x	as long as short
BloFin MU-USDT	+0.0342%	8h	1,049.6	−0.050%	$1.5M	$2.0M	20x	as long as short
Phoenix MU	+0.0383%	1h	1,048.3	−0.178%	$536K	$306K	15x	as long as short
Extended MU_24_5-USD	+0.0416%	1h	1,049.4	−0.076%	$566K	$1.2M	10x	as long as short
GRVT MU_USDT_Perp	+0.0570%	8h	1,048.5	−0.158%	$83K	$1.3M	10x	as long as short