Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.050%

Price spread now: Coinbase International against SunX−0.251%7-day average −0.178% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$760.762% of the position

Long on SunX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.353%+$35 on $10k

Price spread, last 4 days (all we have)+0.198%+$20 · spread now −0.251%, 7d avg −0.178%

Together, before fees+0.551%+$55 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.072% cheaper against SunX than usual: you would sell low and buy high (spread −0.251% now, against its 7-day average of −0.178%). If the spread goes back, that is −$7 on $10k: about 2.5 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX MU-USDT	1,033.5	0	get 0.0000% / 8h	7h 02m	$11K	$5.3M	10x
Short	Coinbase International MU-PERP-INTX	1,030.9	0.0096	get 0.0012% / 1h	2m 39s	$720K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.251%Rate

Funding earned: $20.16
Price spread: −0.251% → −0.178%: −$7.22
Slippage, 4 orders: −$58.24
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$63.31
Costs to cover: 0.762%
Break-even: 29.0 days

Slippage from SunX: live order book, 6 min ago; Coinbase International: 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 SunX live order book, 6 min ago	21.59 bp	25.6 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	3.34 bp	9.2 bp −$9	14.6 bp −$146	60.0 bp −$6,003	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	−0.0053%	4h	1,033.2	−0.033%	$1.3M	$695K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,032.9	−0.057%	$21.1M	$69.4M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,032.9	−0.062%	$121.5M	$550.6M	50x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,032.8	−0.068%	$29.1M	$104.3M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,032.8	−0.073%	$294K	$375K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,032.9	−0.064%	$61.6M	$28.8M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,033	−0.054%	$19.6M	$41.7M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,032.5	−0.100%	$2.5M	$2.6M	—	as long as short
StandX MU-USD	0.0000%	1h	1,031.9	−0.155%	$187K	$3.7M	20x	as long as short
SunX MU-USDTlong	0.0000%	8h	1,033.5	long leg	$11K	$5.3M	10x

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX MU-USDT	0.0000%	8h	1,032.5	−0.095%	$119K	$493K	50x	as long as short
QFEX MU-USD	+0.0027%	1h	1,032.9	−0.062%	$7.0M	$19.0M	10x	as long as short
Aftermath Perps MUUSD	+0.0029%	1h	1,032.2	−0.128%	$3K	$43K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,032.8	−0.066%	$1.1M	$4.6M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.726%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,032.4	−0.110%	$89K	$234K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,032.9	−0.059%	—	$179K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,032.3	−0.118%	$167K	$177K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,032.6	−0.088%	$1.9M	$3.2M	10x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,032.2	−0.128%	$32K	$1K	10x	as long as short
Paradex MU-USD-PERP	+0.0088%	8h	1,032.9	−0.060%	$2K	—	5x	as long as short
Coinbase International MU-PERP-INTXshort	+0.0096%	1h	1,030.9	−0.251%	$720K	$1.1M	10x
Pacifica MU	+0.0100%	1h	1,032.9	−0.060%	$146K	$214K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,032.2	−0.132%	$5.1M	$5.0M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,033.2	−0.035%	$70K	$270K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,032.9	−0.063%	$821	$799	20x	as long as short
Nado MU-PERP	+0.0115%	1h	1,032.2	−0.125%	$264K	$811K	10x	as long as short
Bybit MUUSDT	+0.0117%	8h	1,032.8	−0.069%	$18.7M	$32.5M	100x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,033.1	−0.045%	$1.4M	$2.3M	20x	as long as short
tradeXYZ xyz:MU	+0.0128%	1h	1,032.8	−0.070%	$174.8M	$78.3M	10x	as long as short
SoDEX MU-USD	+0.0129%	1h	1,032.7	−0.084%	$678K	$15K	10x	as long as short
Lighter MU	+0.0136%	1h	1,033.1	−0.045%	$996K	$5.1M	20x	as long as short
Bullet MU-USD	+0.0177%	1h	1,032.6	−0.089%	$26K	$388K	10x	as long as short
Extended MU_24_5-USD	+0.0216%	1h	1,032	−0.147%	$542K	$1.1M	10x	as long as short
Phoenix MU	+0.0231%	1h	1,033.2	−0.031%	$529K	$270K	15x	as long as short
GRVT MU_USDT_Perp	+0.0373%	8h	1,033.3	−0.020%	$81K	$1.4M	10x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0380%	1h	1,032.3	−0.123%	$72K	$635K	10x	as long as short