Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0107%/8h= −11.7% APRpaid last 24h −0.050%

Price spread now: HTX against RISEx+0.047%7-day average −0.013% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$280.280% of the position

Long on RISEx Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.055%−$5 on $10k

Price spread, last 4 days (all we have)−0.079%−$8 · spread now +0.047%, 7d avg −0.013%

Together, before fees−0.133%−$13 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.060% dearer against RISEx than usual: you sell high and buy low (spread +0.047% now, against its 7-day average of −0.013%): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 45 hours. At the pace of the last 4 days (−0.055% in total) that is about 4.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx MU/USDC	1,034.5	0.0107	pay 0.0013% / 1h	15m 46s	$295K	$350K	20x
Short	HTX MU-USDT	1,034.9	0	get 0.0000% / 8h	6h 15m	$119K	$475K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against RISEx. 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 RISExbpFee HTXbpOrdersPrice spread, now +0.047%Rate

Funding earned: −$22.47
Price spread: +0.047% → −0.013%: $5.99
Slippage, 4 orders: −$9.98
Fee RISEx: 3 bp × 2 orders: −$6
Fee HTX: 6 bp × 2 orders: −$12
Net: −$44.46
Costs to cover: 0.280%
Break-even: never at this rate

Slippage from RISEx: live order book, 35 min ago; HTX: live order book, 35 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 RISEx live order book, 35 min ago	1.07 bp	4.1 bp −$4	5.7 bp −$57	doesn't fit	doesn't fit
Sell HTX live order book, 35 min ago	3.88 bp	10.0 bp −$10	10.0 bp −$100	16.3 bp −$1,629	doesn't fit

MU on 37 exchanges

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	−0.0255%	4h	1,033	−0.137%	$1.3M	$695K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,034.7	+0.024%	$21.1M	$72.4M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,034.6	+0.018%	$120.8M	$549.9M	50x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,034.6	+0.017%	$29.4M	$106.4M	50x	as long as short
Gate MU_USDT	0.0000%	8h	1,034.5	+0.002%	$61.6M	$28.0M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,034.6	+0.011%	$19.8M	$42.8M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,034.5	+0.009%	$2.6M	$2.6M	—	as long as short
StandX MU-USD	0.0000%	1h	1,033.5	−0.095%	$187K	$3.7M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,036.3	+0.183%	$11K	$5.1M	10x	as long as short
HTX MU-USDTshort	0.0000%	8h	1,034.9	+0.047%	$119K	$475K	50x

Show all 37 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit MU_USDC-PERPETUAL	+0.0021%	1h	1,034.4	−0.007%	$43K	$700K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,034.5	0.000%	$1.1M	$4.5M	10x	as long as short
Aftermath Perps MUUSD	+0.0032%	1h	1,033.5	−0.096%	$3K	$42K	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.634%	$19K	$5K	12x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,035	+0.056%	—	$177K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,034.8	+0.034%	$167K	$178K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,034.5	+0.006%	$679K	$13K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,032.5	−0.193%	$1.9M	$3.2M	10x	as long as short
Bybit MUUSDT	+0.0051%	8h	1,034.5	+0.007%	$18.8M	$32.4M	100x	as long as short
QFEX MU-USD	+0.0059%	1h	1,034.5	+0.007%	$7.0M	$19.0M	10x	as long as short
Paradex MU-USD-PERP	+0.0067%	8h	1,034.2	−0.028%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,034.5	+0.005%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,034	−0.045%	$146K	$223K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,034	−0.043%	$5.2M	$5.6M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,033.6	−0.087%	$70K	$270K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,034.3	−0.016%	$822	$799	20x	as long as short
RISEx MU/USDClong	+0.0107%	1h	1,034.5	long leg	$295K	$350K	20x
GRVT MU_USDT_Perp	+0.0115%	8h	1,033.5	−0.092%	$76K	$1.4M	10x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,033.7	−0.074%	$1.4M	$2.5M	20x	as long as short
Nado MU-PERP	+0.0122%	1h	1,034.5	+0.001%	$270K	$840K	10x	as long as short
Lighter MU	+0.0136%	1h	1,034.6	+0.013%	$1.0M	$5.0M	20x	as long as short
Arcus MU-USD	+0.0139%	1h	1,034.5	+0.006%	$90K	$148K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0152%	1h	1,033.5	−0.092%	$732K	$1.2M	10x	as long as short
tradeXYZ xyz:MU	+0.0178%	1h	1,034.2	−0.024%	$175.4M	$75.8M	10x	as long as short
Bullet MU-USD	+0.0213%	1h	1,035.1	+0.063%	$25K	$386K	10x	as long as short
Extended MU_24_5-USD	+0.0264%	1h	1,033.7	−0.070%	$549K	$1.1M	10x	as long as short
Phoenix MU	+0.0310%	1h	1,033.4	−0.102%	$529K	$269K	15x	as long as short