Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0115%/8h= −12.6% APRpaid last 24h −0.014%

Price spread now: SoDEX against Binance0.000%45s7-day average −0.012% · 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−$350.351% of the position

Long on Binance Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.009%−$1 on $10k

Price spread, last 2 days (all we have)−0.018%−$2 · spread now 0.000%, 7d avg −0.012%

Together, before fees−0.027%−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.012%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. The two prices were read 45 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	Binance MUUSDT	1,050.2	0.0165	pay 0.0165% / 8h	5h 49m	$126.5M	$520.0M	50x
Short	SoDEX MU-USD	1,050.2	0.0050	get 0.0006% / 1h	49m 38s	$689K	$16K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Binance. 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 BinancebpFee SoDEXbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$24.13
Price spread: 0.000% → −0.012%: $1.23
Slippage, 4 orders: −$17.1
Fee Binance: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$58
Costs to cover: 0.351%
Break-even: never at this rate

Slippage from Binance: live order book, 9 min ago; SoDEX: live order book, 14 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 Binance live order book, 9 min ago	0.05 bp	5.0 bp −$5	6.4 bp −$64	16.7 bp −$1,674	doesn't fit
Sell SoDEX live order book, 14 min ago	0.05 bp	12.3 bp −$12	40.0 bp −$400	doesn't fit	doesn't fit

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	+0.025%	$1.3M	$671K	10x	as long as short
RISEx MU/USDC	0.0000%	1h	1,050.4	+0.024%	$333K	$349K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,050.1	−0.004%	$62.1M	$27.4M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,050	−0.018%	$190K	$3.4M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,052	+0.176%	$11K	$5.9M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,050.1	−0.008%	$129K	$427K	50x	as long as short
Aftermath Perps MUUSD	+0.0019%	1h	1,050.3	+0.014%	$3K	$44K	10x	as long as short
GRVT MU_USDT_Perp	+0.0024%	8h	1,050.8	+0.059%	$79K	$1.3M	10x	as long as short
Bybit MUUSDT	+0.0025%	8h	1,050.5	+0.031%	$19.2M	$32.4M	100x	as long as short
QFEX MU-USD	+0.0030%	1h	1,050.2	+0.002%	$7.2M	$18.4M	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	−0.005%	$1.2M	$4.2M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.114%	$19K	$5K	12x	as long as short
Extended MU_24_5-USD	+0.0040%	1h	1,049.5	−0.067%	$564K	$1.1M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,050.2	+0.005%	$71K	$235K	10x	as long as short
OKX MU-USDT-SWAP	+0.0042%	8h	1,050.4	+0.019%	$31.0M	$100.1M	50x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,051.2	+0.095%	—	$175K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,050.1	−0.006%	$170K	$202K	10x	as long as short
SoDEX MU-USDshort	+0.0050%	1h	1,050.2	0.000%	$689K	$16K	10x
Ondo Perps MU-USD.P	+0.0050%	1h	1,049.4	−0.071%	$1.9M	$2.3M	10x	as long as short
Paradex MU-USD-PERP	+0.0059%	8h	1,050.4	+0.019%	$2K	—	5x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0093%	1h	1,050.3	+0.011%	$66K	$355K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0096%	1h	1,049.9	−0.021%	$756K	$1.2M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,049.7	−0.046%	$148K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,050.2	+0.005%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,050.8	+0.061%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050.3	+0.017%	$835	$799	20x	as long as short
Lighter MU	+0.0104%	1h	1,050.2	−0.001%	$1.1M	$4.8M	20x	as long as short
Aster MUUSD1	+0.0110%	8h	1,050.2	+0.002%	$21.4M	$52.1M	20x	as long as short
Nado MU-PERP	+0.0112%	1h	1,050.1	−0.010%	$280K	$850K	10x	as long as short
Aevo MU-PERP	+0.0120%	1h	1,050	−0.015%	$32K	$1K	10x	as long as short
tradeXYZ xyz:MU	+0.0132%	1h	1,050	−0.015%	$178.2M	$99.2M	10x	as long as short
Variational Omni MU	+0.0144%	8h	1,050.4	+0.027%	$2.7M	$2.3M	—	as long as short
Bullet MU-USD	+0.0159%	1h	1,050.3	+0.017%	$26K	$397K	10x	as long as short
Binance MUUSDTlong	+0.0165%	8h	1,050.2	long leg	$126.5M	$520.0M	50x
Bitget MUUSDT	+0.0168%	8h	1,050.2	+0.004%	$20.6M	$41.2M	50x	as long as short
Phoenix MU	+0.0229%	1h	1,050.7	+0.051%	$537K	$271K	15x	as long as short