Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0069%/8h= +7.6% APRpaid last 24h +0.039%

Price spread now: Bullet against SunX−0.161%53s7-day average −0.134% · 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—prices read too far apart to compare

costs, in and out, $10k−$720.718% of the position

Long on SunX Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.133%+$13 on $10k

Price spread, last 4 days (all we have)+0.231%+$23 · spread now −0.161%, 7d avg −0.134%

Together, before fees+0.364%+$36 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bullet is 0.028% cheaper against SunX than usual: you would sell low and buy high (spread −0.161% now, against its 7-day average of −0.134%). If the spread goes back, that is −$3 on $10k: about 32 hours of funding at the current rate (+$2 a day). The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX MU-USDT	1,053.9	0	get 0.0000% / 8h	5h 12m	$11K	$5.8M	10x
Short	Bullet MU-USD	1,052.2	0.0069	get 0.0009% / 1h	12m 26s	$25K	$398K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against SunX. 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 SunXbpFee BulletbpOrdersPrice spread, now −0.161%Rate

Funding earned: $14.58
Price spread: −0.161% → −0.134%: −$2.76
Slippage, 4 orders: −$55.8
Fee SunX: 4 bp × 2 orders: −$8
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$59.97
Costs to cover: 0.718%
Break-even: 35.8 days

Slippage from SunX: live order book, 6 min ago; Bullet: live order book, 52 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 SunX live order book, 6 min ago	21.57 bp	25.6 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell Bullet live order book, 52 min ago	0.95 bp	6.6 bp −$7	21.0 bp −$210	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	−0.0194%	4h	1,051.6	−0.222%	$1.3M	$673K	10x	as long as short
RISEx MU/USDC	0.0000%	1h	1,052.3	−0.149%	$333K	$348K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,052.1	−0.172%	$62.0M	$27.6M	75x	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,051.8	−0.204%	$85K	$1.3M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,051.2	−0.254%	$190K	$3.4M	20x	as long as short
SunX MU-USDTlong	0.0000%	8h	1,053.9	long leg	$11K	$5.8M	10x
HTX MU-USDT	0.0000%	8h	1,051.7	−0.213%	$129K	$430K	50x	as long as short
Bybit MUUSDT	+0.0005%	8h	1,052.5	−0.133%	$19.2M	$32.3M	100x	as long as short
Aftermath Perps MUUSD	+0.0019%	1h	1,051.1	−0.269%	$3K	$45K	10x	as long as short
OKX MU-USDT-SWAP	+0.0020%	8h	1,052.1	−0.168%	$31.1M	$99.9M	50x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX MU-USD	+0.0030%	1h	1,052	−0.181%	$7.2M	$18.1M	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,052	−0.183%	$1.3M	$4.4M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	−0.241%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,051.4	−0.238%	$71K	$235K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,053.2	−0.066%	—	$175K	25x	as long as short
Aster MUUSD1	+0.0048%	8h	1,052.3	−0.154%	$21.4M	$54.2M	20x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,051.9	−0.190%	$171K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,052	−0.177%	$690K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,050.9	−0.283%	$1.9M	$2.3M	10x	as long as short
Nado MU-PERP	+0.0052%	1h	1,051.9	−0.192%	$282K	$845K	10x	as long as short
Paradex MU-USD-PERP	+0.0055%	8h	1,052.2	−0.157%	$2K	—	5x	as long as short
tradeXYZ xyz:MU	+0.0062%	1h	1,051.9	−0.190%	$178.4M	$99.1M	10x	as long as short
Lighter MU	+0.0064%	1h	1,052.2	−0.166%	$1.1M	$5.0M	20x	as long as short
Bullet MU-USDshort	+0.0069%	1h	1,052.2	−0.161%	$25K	$398K	10x
Variational Omni MU	+0.0087%	8h	1,051.4	−0.239%	$2.7M	$2.4M	—	as long as short
Extended MU_24_5-USD	+0.0088%	1h	1,051.6	−0.218%	$564K	$1.1M	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0096%	1h	1,051.3	−0.245%	$758K	$1.2M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,051.7	−0.209%	$149K	$184K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,052.1	−0.176%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,051.3	−0.244%	$71K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,052.1	−0.174%	$836	$799	20x	as long as short
Aevo MU-PERP	+0.0112%	1h	1,051.8	−0.201%	$32K	$1K	10x	as long as short
Binance MUUSDT	+0.0116%	8h	1,052.2	−0.164%	$126.6M	$518.3M	50x	as long as short
Bitget MUUSDT	+0.0122%	8h	1,052.2	−0.162%	$20.6M	$41.1M	50x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0206%	1h	1,052.1	−0.173%	$68K	$383K	10x	as long as short
Phoenix MU	+0.0229%	1h	1,051.7	−0.209%	$538K	$271K	15x	as long as short
BloFin MU-USDT	+0.0236%	8h	1,052.2	−0.161%	$1.5M	$2.0M	20x	as long as short