Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0041%/8h= −4.5% APRpaid last 24h +0.041%

Price spread now: Coinbase International against Bitget−0.008%7-day average −0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$320.318% of the position

Long on Bitget Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.197%+$20 on $10k

Price spread, last 4 days (all we have)−0.080%−$8 · spread now −0.008%, 7d avg −0.038%

Together, before fees+0.117%+$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.030% dearer against Bitget than usual: you sell high and buy low (spread −0.008% now, against its 7-day average of −0.038%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.5 days. Mind the row above: over the last 7 days funding on this pair paid +0.197%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MUUSDT	1,052	0.0137	pay 0.0137% / 8h	5h 04m	$20.6M	$41.0M	50x
Short	Coinbase International MU-PERP-INTX	1,051.9	0.0096	get 0.0012% / 1h	4m 12s	$758K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bitget. 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 BitgetbpFee Coinbase InternationalbpOrdersPrice spread, now −0.008%Rate

Funding earned: −$8.61
Price spread: −0.008% → −0.038%: $3.04
Slippage, 4 orders: −$9.83
Fee Bitget: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$37.4
Costs to cover: 0.318%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; Coinbase International: live order book, 4 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 Bitget live order book, 5 min ago	0.81 bp	8.1 bp −$8	11.4 bp −$114	19.7 bp −$1,966	doesn't fit
Sell Coinbase International live order book, 4 min ago	2.85 bp	7.9 bp −$8	8.9 bp −$89	59.0 bp −$5,903	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	−0.0138%	4h	1,052.3	+0.025%	$1.3M	$672K	10x	as long as short
RISEx MU/USDC	0.0000%	1h	1,052.4	+0.035%	$334K	$348K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,051.9	−0.013%	$62.0M	$27.6M	75x	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,052.3	+0.028%	$78K	$1.3M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,052	+0.001%	$190K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,053.9	+0.179%	$11K	$5.8M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,051.8	−0.019%	$130K	$430K	50x	as long as short
Bybit MUUSDT	+0.0011%	8h	1,052.4	+0.038%	$19.2M	$32.3M	100x	as long as short
OKX MU-USDT-SWAP	+0.0015%	8h	1,052	−0.002%	$31.1M	$99.9M	50x	as long as short
Aftermath Perps MUUSD	+0.0018%	1h	1,052	−0.005%	$3K	$45K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX MU-USD	+0.0030%	1h	1,052.1	+0.010%	$7.2M	$18.0M	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,052.1	+0.004%	$1.3M	$4.5M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	−0.063%	$19K	$5K	12x	as long as short
Aster MUUSD1	+0.0035%	8h	1,052.2	+0.014%	$21.4M	$55.0M	20x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0035%	1h	1,052	−0.006%	$69K	$391K	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,051.9	−0.013%	$71K	$234K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,053.3	+0.125%	—	$175K	25x	as long as short
Nado MU-PERP	+0.0048%	1h	1,052	0.000%	$282K	$844K	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,051.9	−0.011%	$171K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,051.9	−0.008%	$690K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,051.5	−0.048%	$1.9M	$2.3M	10x	as long as short
Paradex MU-USD-PERP	+0.0054%	8h	1,052.5	+0.045%	$2K	—	5x	as long as short
Lighter MU	+0.0056%	1h	1,051.9	−0.008%	$1.1M	$5.1M	20x	as long as short
tradeXYZ xyz:MU	+0.0063%	1h	1,051.8	−0.021%	$178.5M	$98.9M	10x	as long as short
Bullet MU-USD	+0.0064%	1h	1,052.2	+0.016%	$26K	$398K	10x	as long as short
Extended MU_24_5-USD	+0.0064%	1h	1,051.4	−0.054%	$564K	$1.1M	10x	as long as short
Variational Omni MU	+0.0071%	8h	1,052.2	+0.016%	$2.7M	$2.4M	—	as long as short
Coinbase International MU-PERP-INTXshort	+0.0096%	1h	1,051.9	−0.008%	$758K	$1.2M	10x
Pacifica MU	+0.0100%	1h	1,052.4	+0.038%	$148K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,051.9	−0.010%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,051.8	−0.018%	$71K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,052	+0.001%	$836	$799	20x	as long as short
Binance MUUSDT	+0.0103%	8h	1,052	+0.002%	$126.7M	$517.8M	50x	as long as short
Aevo MU-PERP	+0.0104%	1h	1,051.7	−0.027%	$32K	$1K	10x	as long as short
Bitget MUUSDTlong	+0.0137%	8h	1,052	long leg	$20.6M	$41.0M	50x
BloFin MU-USDT	+0.0224%	8h	1,052.2	+0.016%	$1.5M	$2.0M	20x	as long as short
Phoenix MU	+0.0229%	1h	1,052.5	+0.046%	$538K	$271K	15x	as long as short