Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.049%

Price spread now: HTX against tradeXYZ−0.003%7-day average +0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$400.399% of the position

Long on tradeXYZ Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.206%−$21 on $10k

Price spread, last 4 days (all we have)+0.072%+$7 · spread now −0.003%, 7d avg +0.047%

Together, before fees−0.134%+ Points / potential airdroptradeXYZ: Active · farm board−$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and HTX is 0.050% cheaper against tradeXYZ than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.047%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:MU	1,045.5	0.0050	pay 0.0006% / 1h	38m 15s	$177.2M	$96.4M	10x
Short	HTX MU-USDT	1,045.5	0	get 0.0000% / 8h	3h 38m	$130K	$432K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against tradeXYZ. 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 tradeXYZbpFee HTXbpOrdersPrice spread, now −0.003%Rate

Funding earned: −$10.5
Price spread: −0.003% → +0.047%: −$4.99
Slippage, 4 orders: −$9.93
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee HTX: 6 bp × 2 orders: −$12
Net: −$55.42
Costs to cover: 0.399%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 12 min ago; HTX: live order book, 15 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 tradeXYZ live order book, 12 min ago	0.48 bp	10.3 bp −$10	11.4 bp −$114	16.8 bp −$1,678	doesn't fit
Sell HTX live order book, 15 min ago	2.81 bp	9.2 bp −$9	9.2 bp −$92	14.0 bp −$1,402	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	−0.0477%	4h	1,047.4	+0.181%	$1.3M	$671K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,046	+0.044%	$21.2M	$56.3M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,045.9	+0.034%	$125.2M	$518.7M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,046.1	+0.055%	$18.8M	$32.2M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,045.6	+0.013%	$31.1M	$99.7M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,046	+0.047%	$338K	$353K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,045.8	+0.026%	$62.1M	$27.7M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,046	+0.051%	$20.4M	$41.3M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,047.2	+0.165%	$2.7M	$2.4M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,047.1	+0.149%	$81K	$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	1,045.6	+0.010%	$189K	$3.4M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,046.5	+0.098%	$11K	$5.8M	10x	as long as short
HTX MU-USDTshort	0.0000%	8h	1,045.5	−0.003%	$130K	$432K	50x
Aftermath Perps MUUSD	+0.0024%	1h	1,046.6	+0.110%	$3K	$44K	10x	as long as short
QFEX MU-USD	+0.0032%	1h	1,045.8	+0.025%	$7.0M	$17.8M	10x	as long as short
Lighter MU	+0.0032%	1h	1,045.7	+0.021%	$1.1M	$5.1M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,045.7	+0.019%	$1.3M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,045.2	−0.029%	$550K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.560%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,046.5	+0.091%	$71K	$233K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,046.5	+0.093%	—	$176K	25x	as long as short
tradeXYZ xyz:MUlong	+0.0050%	1h	1,045.5	long leg	$177.2M	$96.4M	10x
Polymarket Perps MU-USD	+0.0050%	1h	1,045.6	+0.010%	$170K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,045.6	+0.013%	$686K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,045	−0.053%	$1.9M	$2.2M	10x	as long as short
Paradex MU-USD-PERP	+0.0051%	8h	1,046.1	+0.053%	$2K	—	5x	as long as short
Nado MU-PERP	+0.0053%	1h	1,045.7	+0.019%	$281K	$828K	10x	as long as short
Bullet MU-USD	+0.0064%	1h	1,046	+0.044%	$25K	$394K	10x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0075%	1h	1,045.7	+0.016%	$73K	$468K	10x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,045.4	−0.008%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,045.8	+0.025%	$147K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,045.6	+0.005%	$5.2M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,047.5	+0.195%	$71K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,045.7	+0.023%	$831	$799	20x	as long as short
BloFin MU-USDT	+0.0119%	8h	1,046.1	+0.053%	$1.5M	$2.0M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0120%	1h	1,050	+0.433%	$757K	$1.2M	10x	as long as short
Phoenix MU	+0.0305%	1h	1,048.1	+0.249%	$536K	$271K	15x	as long as short