Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0335%/8h= −36.6% APRpaid last 24h −0.015%

Price spread now: Gate against SoDEX+0.004%7-day average −0.010% · 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−$44as in the Price arb table

costs, in and out, $10k−$450.455% of the position

Long on SoDEX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.060%−$6 on $10k

Price spread, last 3 days (all we have)+0.031%+$3 · spread now +0.004%, 7d avg −0.010%

Together, before fees−0.029%−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.010%, so right now this pair is about funding alone: −$10 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.060% in total (about -6.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX MU-USD	1,048.6	0.0335	pay 0.0042% / 1h	52m 57s	$688K	$16K	10x
Short	Gate MU_USDT	1,048.6	0	get 0.0000% / 8h	7h 52m	$63.2M	$28.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against SoDEX. 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 SoDEXbpFee GatebpOrdersPrice spread, now +0.004%Rate

Funding earned: −$70.27
Price spread: +0.004% → −0.010%: $1.35
Slippage, 4 orders: −$22.48
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$114.41
Costs to cover: 0.455%
Break-even: never at this rate

Slippage from SoDEX: live order book, 21 min ago; Gate: live order book, 1 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 SoDEX live order book, 21 min ago	0.05 bp	12.2 bp −$12	43.9 bp −$439	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	0.62 bp	9.4 bp −$9	15.4 bp −$154	35.3 bp −$3,529	55.5 bp −$27.8K

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	−0.0946%	4h	1,047	−0.157%	$1.3M	$671K	10x	as long as short
Gate MU_USDTshort	0.0000%	8h	1,048.6	+0.004%	$63.2M	$28.3M	75x
StandX MU-USD	0.0000%	1h	1,047.7	−0.090%	$189K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,050.1	+0.139%	$11K	$6.3M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,048.3	−0.026%	$130K	$418K	50x	as long as short
Aftermath Perps MUUSD	+0.0022%	1h	1,046.5	−0.202%	$3K	$44K	10x	as long as short
Lighter MU	+0.0032%	1h	1,048.5	−0.008%	$1.1M	$4.7M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,048.5	−0.010%	$1.2M	$4.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.201%	$14K	$251	12x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,048.9	+0.024%	—	$194K	25x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MU-USD.P	+0.0050%	1h	1,047.5	−0.109%	$2.0M	$2.3M	10x	as long as short
QFEX MU-USD	+0.0054%	1h	1,048.4	−0.021%	$7.8M	$23.4M	10x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0074%	1h	1,048.5	−0.010%	$62K	$292K	10x	as long as short
Nado MU-PERP	+0.0075%	1h	1,048.2	−0.038%	$272K	$860K	10x	as long as short
OKX MU-USDT-SWAP	+0.0088%	8h	1,048.3	−0.031%	$30.9M	$101.5M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,048.5	−0.011%	$153K	$180K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,047.8	−0.075%	$5.3M	$3.7M	20x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,048.1	−0.045%	$833	$799	20x	as long as short
Paradex MU-USD-PERP	+0.0107%	8h	1,048.6	+0.004%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0128%	1h	1,048.1	−0.046%	$32K	$1K	10x	as long as short
Bitget MUUSDT	+0.0160%	8h	1,048.2	−0.037%	$20.6M	$41.5M	50x	as long as short
Variational Omni MU	+0.0168%	8h	1,048.2	−0.043%	$2.7M	$2.5M	—	as long as short
Aster MUUSD1	+0.0180%	8h	1,048	−0.053%	$21.6M	$47.8M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0184%	1h	1,048.4	−0.015%	$760K	$1.3M	10x	as long as short
Binance MUUSDT	+0.0187%	8h	1,048.3	−0.029%	$125.3M	$524.8M	50x	as long as short
GRVT MU_USDT_Perp	+0.0195%	8h	1,048	−0.060%	$82K	$1.4M	10x	as long as short
Arcus MU-USD	+0.0240%	1h	1,047.5	−0.106%	$71K	$243K	10x	as long as short
BloFin MU-USDT	+0.0307%	8h	1,048.6	−0.001%	$1.5M	$2.0M	20x	as long as short
Bybit MUUSDT	+0.0307%	8h	1,048.5	−0.012%	$19.2M	$32.5M	100x	as long as short
RISEx MU/USDC	+0.0312%	1h	1,048.4	−0.021%	$315K	$339K	20x	as long as short
SoDEX MU-USDlong	+0.0335%	1h	1,048.6	long leg	$688K	$16K	10x
Phoenix MU	+0.0383%	1h	1,048.9	+0.029%	$536K	$306K	15x	as long as short
ApeX Omni MUUSDT	+0.0451%	1h	1,048.3	−0.026%	$71K	$267K	50x	as long as short
Extended MU_24_5-USD	+0.0600%	1h	1,047.7	−0.083%	$552K	$1.0M	10x	as long as short
Polymarket Perps MU-USD	+0.0625%	1h	1,048.4	−0.019%	$170K	$202K	10x	as long as short
Bullet MU-USD	+0.0874%	1h	1,048.4	−0.018%	$26K	$394K	10x	as long as short
tradeXYZ xyz:MU	+0.0901%	1h	1,048.4	−0.019%	$177.7M	$100.4M	10x	as long as short