Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.039%

Price spread now: HTX against Arcus+0.110%7-day average +0.037% · 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−$33as in the Price arb table

costs, in and out, $10k−$400.400% of the position

Long on Arcus Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.145%−$15 on $10k

Price spread, last 4 days (all we have)−0.092%−$9 · spread now +0.110%, 7d avg +0.037%

Together, before fees−0.237%−$24 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.073% dearer against Arcus than usual: you sell high and buy low (spread +0.110% now, against its 7-day average of +0.037%): +$7 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 6.0 days. At the pace of the last 4 days (−0.145% in total) that is about 44 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus MU-USD	1,039.8	0.0040	pay 0.0005% / 1h	8m 03s	$70K	$231K	10x
Short	HTX MU-USDT	1,040.9	0	get 0.0000% / 8h	2h 08m	$128K	$442K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Arcus. 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 ArcusbpFee HTXbpOrdersPrice spread, now +0.110%Rate

Funding earned: −$8.46
Price spread: +0.110% → +0.037%: $7.25
Slippage, 4 orders: −$23.54
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee HTX: 6 bp × 2 orders: −$12
Net: −$41.25
Costs to cover: 0.400%
Break-even: never at this rate

Slippage from Arcus: live order book, 40 min ago; HTX: live order book, 40 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 Arcus live order book, 40 min ago	3.74 bp	9.4 bp −$9	13.5 bp −$135	doesn't fit	doesn't fit
Sell HTX live order book, 40 min ago	3.16 bp	10.6 bp −$11	10.8 bp −$108	17.5 bp −$1,749	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	−0.0827%	4h	1,040.2	+0.042%	$1.3M	$671K	10x	as long as short
Bitget MUUSDT	−0.0128%	8h	1,041.2	+0.138%	$20.3M	$41.2M	50x	as long as short
Aster MUUSD1	0.0000%	8h	1,041.1	+0.128%	$21.2M	$57.2M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,041	+0.118%	$122.2M	$536.3M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,041.2	+0.138%	$18.7M	$32.2M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,040.9	+0.112%	$30.0M	$101.6M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,041.4	+0.159%	$316K	$382K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,041	+0.117%	$61.6M	$28.6M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,040.3	+0.053%	$2.5M	$2.5M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,040.7	+0.096%	$84K	$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	1,040.6	+0.086%	$188K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,042.5	+0.262%	$11K	$5.7M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,040.9	+0.112%	$74K	$531K	10x	as long as short
HTX MU-USDTshort	0.0000%	8h	1,040.9	+0.110%	$128K	$442K	50x
Aftermath Perps MUUSD	+0.0015%	1h	1,039.2	−0.051%	$3K	$44K	10x	as long as short
Nado MU-PERP	+0.0021%	1h	1,040.8	+0.101%	$278K	$816K	10x	as long as short
QFEX MU-USD	+0.0023%	1h	1,041	+0.124%	$7.0M	$18.3M	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,041	+0.118%	$1.2M	$4.6M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,040.3	+0.049%	$541K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.117%	$19K	$5K	12x	as long as short
Bullet MU-USD	+0.0036%	1h	1,041.2	+0.138%	$26K	$390K	10x	as long as short
Arcus MU-USDlong	+0.0040%	1h	1,039.8	long leg	$70K	$231K	10x
Vest MU-USD-PERP	+0.0046%	1h	1,041.3	+0.151%	—	$175K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,040.7	+0.091%	$177.0M	$90.7M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,040.9	+0.111%	$169K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,040.9	+0.111%	$683K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,040.5	+0.067%	$1.9M	$2.5M	10x	as long as short
Paradex MU-USD-PERP	+0.0054%	8h	1,041.1	+0.134%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,040.5	+0.070%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,040.9	+0.112%	$148K	$189K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,040.8	+0.101%	$5.2M	$3.8M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,040.8	+0.096%	$71K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,040.9	+0.108%	$827	$799	20x	as long as short
Lighter MU	+0.0104%	1h	1,041.2	+0.143%	$1.1M	$5.0M	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,040.7	+0.089%	$1.4M	$2.1M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0144%	1h	1,036	−0.364%	$731K	$1.3M	10x	as long as short
Phoenix MU	+0.0231%	1h	1,041	+0.120%	$532K	$270K	15x	as long as short