Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0038%/8h= −4.2% APRpaid last 24h −0.039%

Price spread now: Gate against Bullet−0.008%7-day average −0.038% · 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−$36as in the Price arb table

costs, in and out, $10k−$390.392% of the position

Long on Bullet Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.133%−$13 on $10k

Price spread, last 4 days (all we have)+0.021%+$2 · spread now −0.008%, 7d avg −0.038%

Together, before fees−0.112%−$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.029% dearer against Bullet 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. At the pace of the last 3 days (−0.133% in total) that is about 18 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet MU-USD	1,052.2	0.0038	pay 0.0005% / 1h	37m 30s	$25K	$398K	10x
Short	Gate MU_USDT	1,052.1	0	get 0.0000% / 8h	4h 37m	$62.3M	$27.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Bullet. 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 BulletbpFee GatebpOrdersPrice spread, now −0.008%Rate

Funding earned: −$8.05
Price spread: −0.008% → −0.038%: $2.92
Slippage, 4 orders: −$16.15
Fee Bullet: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$44.29
Costs to cover: 0.392%
Break-even: never at this rate

Slippage from Bullet: live order book, 22 min ago; Gate: live order book, 1 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 Bullet live order book, 22 min ago	1.42 bp	7.1 bp −$7	21.0 bp −$210	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	1.19 bp	12.0 bp −$12	16.7 bp −$167	34.2 bp −$3,417	57.3 bp −$28.6K

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	−0.0053%	4h	1,052.1	−0.004%	$1.3M	$671K	10x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,052	−0.016%	$31.2M	$99.8M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,052.3	+0.013%	$333K	$348K	20x	as long as short
Gate MU_USDTshort	0.0000%	8h	1,052.1	−0.008%	$62.3M	$27.4M	75x
GRVT MU_USDT_Perp	0.0000%	8h	1,052.6	+0.036%	$82K	$1.3M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,051.7	−0.044%	$190K	$3.4M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,054	+0.168%	$11K	$5.8M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,052.3	+0.010%	$131K	$436K	50x	as long as short
Aster MUUSD1	+0.0004%	8h	1,052.1	−0.010%	$21.4M	$55.0M	20x	as long as short
Aftermath Perps MUUSD	+0.0018%	1h	1,052.3	+0.008%	$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
Bybit MUUSDT	+0.0022%	8h	1,052.3	+0.013%	$19.1M	$32.3M	100x	as long as short
Lighter RH MU	+0.0032%	1h	1,052.2	0.000%	$1.3M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,051.6	−0.057%	$564K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	−0.078%	$19K	$5K	12x	as long as short
QFEX MU-USD	+0.0034%	1h	1,052	−0.019%	$7.2M	$17.9M	10x	as long as short
Variational Omni MU	+0.0036%	8h	1,052.5	+0.029%	$2.7M	$2.4M	—	as long as short
Bullet MU-USDlong	+0.0038%	1h	1,052.2	long leg	$25K	$398K	10x
Arcus MU-USD	+0.0040%	1h	1,052	−0.019%	$71K	$234K	10x	as long as short
Nado MU-PERP	+0.0043%	1h	1,051.6	−0.051%	$282K	$842K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,053.1	+0.083%	—	$176K	25x	as long as short
Lighter MU	+0.0048%	1h	1,052.2	+0.003%	$1.1M	$5.1M	20x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,051.8	−0.036%	$171K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,052.1	−0.007%	$690K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,051.6	−0.060%	$1.9M	$2.2M	10x	as long as short
Paradex MU-USD-PERP	+0.0052%	8h	1,052.3	+0.010%	$2K	—	5x	as long as short
Binance MUUSDT	+0.0068%	8h	1,052.1	−0.004%	$126.8M	$517.1M	50x	as long as short
tradeXYZ xyz:MU	+0.0077%	1h	1,051.9	−0.026%	$178.8M	$99.0M	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0080%	1h	1,052.1	−0.005%	$758K	$1.2M	10x	as long as short
Aevo MU-PERP	+0.0096%	1h	1,051.8	−0.038%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,051.9	−0.024%	$148K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,051.9	−0.028%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,052.3	+0.015%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,052.2	−0.003%	$836	$799	20x	as long as short
Bitget MUUSDT	+0.0116%	8h	1,052.2	−0.003%	$20.6M	$41.1M	50x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0121%	1h	1,052	−0.022%	$69K	$418K	10x	as long as short
BloFin MU-USDT	+0.0190%	8h	1,052.3	+0.007%	$1.5M	$2.0M	20x	as long as short
Phoenix MU	+0.0304%	1h	1,052.6	+0.040%	$538K	$271K	15x	as long as short