Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0019%/8h= −2.1% APRpaid last 24h −0.024%

Price spread now: HTX against Aftermath Perps−0.022%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Aftermath Perps Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and HTX is 0.022% cheaper against Aftermath Perps than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps MUUSD	1,050.3	0.0019	pay 0.0002% / 1h	49m 44s	$3K	$44K	10x
Short	HTX MU-USDT	1,050.1	0	get 0.0000% / 8h	5h 49m	$129K	$427K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Aftermath Perps. 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 Aftermath PerpsbpFee HTXbpOrdersPrice spread, now −0.022%Rate

Funding earned: −$4.05
Price spread: −0.022% → 0.000%: −$2.19
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee HTX: 6 bp × 2 orders: −$12
Net: −$27.24
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Aftermath Perps: no order-book sample; HTX: live order book, 14 min ago. Net counts fees only.

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 Aftermath Perps no order-book sample	—	—	—	—	—
Sell HTX live order book, 14 min ago	3.43 bp	9.7 bp −$10	10.1 bp −$101	20.6 bp −$2,057	doesn't fit

Aftermath Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

MU on 36 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	−0.0504%	4h	1,050.4	+0.010%	$1.3M	$671K	10x	as long as short
RISEx MU/USDC	0.0000%	1h	1,050.8	+0.047%	$333K	$349K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,050.2	−0.008%	$62.1M	$27.4M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,050	−0.032%	$190K	$3.4M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,052	+0.162%	$11K	$5.9M	10x	as long as short
HTX MU-USDTshort	0.0000%	8h	1,050.1	−0.022%	$129K	$427K	50x
Aftermath Perps MUUSDlong	+0.0019%	1h	1,050.3	long leg	$3K	$44K	10x
GRVT MU_USDT_Perp	+0.0021%	8h	1,050.7	+0.037%	$79K	$1.3M	10x	as long as short
Bybit MUUSDT	+0.0024%	8h	1,050.5	+0.017%	$19.2M	$32.4M	100x	as long as short
QFEX MU-USD	+0.0030%	1h	1,050.4	+0.012%	$7.2M	$18.5M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH MU	+0.0032%	1h	1,050.1	−0.019%	$1.2M	$4.2M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.100%	$19K	$5K	12x	as long as short
Extended MU_24_5-USD	+0.0040%	1h	1,049.5	−0.074%	$564K	$1.1M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,050.3	−0.002%	$71K	$235K	10x	as long as short
OKX MU-USDT-SWAP	+0.0042%	8h	1,050.4	+0.010%	$31.0M	$100.1M	50x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,051.2	+0.081%	—	$175K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,050.1	−0.020%	$170K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,050.2	−0.014%	$689K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,049.7	−0.057%	$1.9M	$2.3M	10x	as long as short
Paradex MU-USD-PERP	+0.0060%	8h	1,050.7	+0.036%	$2K	—	5x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0093%	1h	1,050.3	−0.003%	$66K	$355K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0096%	1h	1,049.9	−0.035%	$756K	$1.2M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,050.4	+0.005%	$149K	$187K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,050.2	−0.007%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,050.8	+0.047%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050.3	+0.003%	$835	$799	20x	as long as short
Lighter MU	+0.0104%	1h	1,050.2	−0.015%	$1.1M	$4.8M	20x	as long as short
Aster MUUSD1	+0.0110%	8h	1,050.2	−0.012%	$21.4M	$52.1M	20x	as long as short
Nado MU-PERP	+0.0112%	1h	1,050.1	−0.024%	$280K	$850K	10x	as long as short
Aevo MU-PERP	+0.0120%	1h	1,050	−0.029%	$32K	$1K	10x	as long as short
tradeXYZ xyz:MU	+0.0132%	1h	1,050	−0.030%	$178.2M	$99.2M	10x	as long as short
Variational Omni MU	+0.0144%	8h	1,050.4	+0.012%	$2.7M	$2.3M	—	as long as short
Bullet MU-USD	+0.0159%	1h	1,050.3	+0.003%	$26K	$397K	10x	as long as short
Binance MUUSDT	+0.0165%	8h	1,050.2	−0.008%	$126.5M	$520.0M	50x	as long as short
Bitget MUUSDT	+0.0170%	8h	1,050.2	−0.010%	$20.6M	$41.2M	50x	as long as short
Phoenix MU	+0.0229%	1h	1,050.7	+0.037%	$537K	$271K	15x	as long as short