Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0052%/8h= −5.7% APRpaid last 24h +0.009%

Price spread now: Bullet against Paradex+0.035%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Paradex Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Bullet is 0.035% dearer against Paradex than usual: you sell high and buy low (spread +0.035% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex MU-USD-PERP	1,037.7	0.0052	pay 0.0052% / 8h	1h 29m	$2K	—	5x
Short	Bullet MU-USD	1,038.1	0	get 0.0000% / 1h	29m 53s	$26K	$389K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Paradex. 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 ParadexbpFee BulletbpOrdersPrice spread, now +0.035%Rate

Funding earned: −$10.9
Price spread: +0.035% → 0.000%: $3.52
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$19.38
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Bullet: live order book, 14 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 Paradex no order-book sample	—	—	—	—	—
Sell Bullet live order book, 14 min ago	0.96 bp	6.6 bp −$7	20.6 bp −$206	doesn't fit	doesn't fit

Paradex: 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	−0.0296%	4h	1,036.7	−0.103%	$1.3M	$673K	10x	as long as short
Bitget MUUSDT	−0.0216%	8h	1,038.1	+0.031%	$20.2M	$40.3M	50x	as long as short
Aster MUUSD1	0.0000%	8h	1,038.6	+0.081%	$21.2M	$59.0M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,038.2	+0.045%	$121.6M	$537.5M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,038.2	+0.043%	$18.5M	$32.2M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,038.1	+0.031%	$29.9M	$100.1M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,037.8	+0.010%	$314K	$387K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,038	+0.022%	$61.9M	$28.5M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,037.4	−0.036%	$2.5M	$2.6M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,037	−0.071%	$73K	$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	1,036.5	−0.120%	$187K	$3.5M	20x	as long as short
Bullet MU-USDshort	0.0000%	1h	1,038.1	+0.035%	$26K	$389K	10x
SunX MU-USDT	0.0000%	8h	1,039	+0.123%	$11K	$5.6M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,038	+0.029%	$74K	$562K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,037.8	+0.006%	$128K	$441K	50x	as long as short
Nado MU-PERP	+0.0002%	1h	1,037.6	−0.015%	$277K	$815K	10x	as long as short
Aftermath Perps MUUSD	+0.0014%	1h	1,036.3	−0.139%	$3K	$44K	10x	as long as short
Lighter MU	+0.0032%	1h	1,038.2	+0.049%	$1.1M	$4.9M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,038.1	+0.033%	$1.2M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,037.5	−0.018%	$540K	$1.1M	10x	as long as short
QFEX MU-USD	+0.0032%	1h	1,037.8	+0.003%	$7.0M	$18.6M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.313%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,036.7	−0.101%	$70K	$230K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,037.7	+0.001%	—	$175K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,037.9	+0.016%	$176.3M	$88.0M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,037.6	−0.013%	$168K	$195K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,037.7	+0.001%	$681K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,037	−0.074%	$1.8M	$2.6M	10x	as long as short
Paradex MU-USD-PERPlong	+0.0052%	8h	1,037.7	long leg	$2K	—	5x
Aevo MU-PERP	+0.0080%	1h	1,037.5	−0.021%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,037.3	−0.039%	$147K	$190K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,037.8	+0.005%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,037.2	−0.056%	$70K	$270K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,038	+0.028%	$825	$799	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0104%	1h	1,036	−0.165%	$731K	$1.2M	10x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,037.6	−0.014%	$1.5M	$2.1M	20x	as long as short
Phoenix MU	+0.0231%	1h	1,037	−0.071%	$530K	$270K	15x	as long as short