Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0048%/8h= −5.2% APRpaid last 24h −0.039%

Price spread now: SunX against Bullet+0.025%7-day average +0.134% · 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−$85as in the Price arb table

costs, in and out, $10k−$740.737% of the position

Long on Bullet Short on SunX

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)−0.029%−$3 · spread now +0.025%, 7d avg +0.134%

Together, before fees−0.162%−$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and SunX is 0.109% cheaper against Bullet than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.134%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet MU-USD	1,052.5	0.0048	pay 0.0006% / 1h	9m 57s	$26K	$395K	10x
Short	SunX MU-USDT	1,052.7	0	get 0.0000% / 8h	4h 09m	$11K	$5.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.025%Rate

Funding earned: −$10.03
Price spread: +0.025% → +0.134%: −$10.94
Slippage, 4 orders: −$57.73
Fee Bullet: 4 bp × 2 orders: −$8
Fee SunX: 4 bp × 2 orders: −$8
Net: −$94.7
Costs to cover: 0.737%
Break-even: never at this rate

Slippage from Bullet: live order book, 49 min ago; SunX: live order book, 9 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, 49 min ago	1.42 bp	7.1 bp −$7	21.0 bp −$210	doesn't fit	doesn't fit
Sell SunX live order book, 9 min ago	21.56 bp	32.8 bp −$33	doesn't fit	doesn't fit	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	−0.0084%	4h	1,051.4	−0.097%	$1.3M	$673K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,052.5	+0.004%	$21.4M	$55.0M	20x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,052.4	−0.008%	$31.2M	$99.6M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,052.5	0.000%	$340K	$354K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,052.2	−0.023%	$62.3M	$27.5M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,051.9	−0.050%	$2.7M	$2.4M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,051.7	−0.074%	$81K	$1.4M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,051.9	−0.053%	$190K	$3.4M	20x	as long as short
SunX MU-USDTshort	0.0000%	8h	1,052.7	+0.025%	$11K	$5.8M	10x
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,052	−0.040%	$72K	$444K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX MU-USDT	0.0000%	8h	1,052.2	−0.024%	$131K	$434K	50x	as long as short
Bybit MUUSDT	+0.0018%	8h	1,052.5	+0.003%	$19.1M	$32.3M	100x	as long as short
Aftermath Perps MUUSD	+0.0022%	1h	1,051.9	−0.055%	$3K	$44K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,052.3	−0.020%	$1.3M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,051.7	−0.069%	$566K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	−0.105%	$19K	$5K	12x	as long as short
QFEX MU-USD	+0.0034%	1h	1,052.2	−0.027%	$7.1M	$17.8M	10x	as long as short
Binance MUUSDT	+0.0036%	8h	1,052.3	−0.013%	$126.6M	$516.3M	50x	as long as short
Arcus MU-USD	+0.0040%	1h	1,051.7	−0.068%	$71K	$234K	10x	as long as short
Nado MU-PERP	+0.0045%	1h	1,052	−0.042%	$282K	$836K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,053.5	+0.096%	—	$176K	25x	as long as short
Bullet MU-USDlong	+0.0048%	1h	1,052.5	long leg	$26K	$395K	10x
Polymarket Perps MU-USD	+0.0050%	1h	1,052	−0.044%	$171K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,052.3	−0.017%	$691K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,051	−0.135%	$1.9M	$2.2M	10x	as long as short
Paradex MU-USD-PERP	+0.0051%	8h	1,052.3	−0.013%	$2K	—	5x	as long as short
Lighter MU	+0.0056%	1h	1,052.4	−0.008%	$1.1M	$5.1M	20x	as long as short
Bitget MUUSDT	+0.0063%	8h	1,052.3	−0.013%	$20.5M	$41.1M	50x	as long as short
tradeXYZ xyz:MU	+0.0070%	1h	1,052	−0.044%	$178.8M	$99.0M	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0080%	1h	1,052.9	+0.041%	$759K	$1.2M	10x	as long as short
Aevo MU-PERP	+0.0088%	1h	1,051.9	−0.057%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,052.3	−0.016%	$148K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,052.1	−0.031%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,051	−0.137%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,052.3	−0.018%	$837	$799	20x	as long as short
BloFin MU-USDT	+0.0151%	8h	1,052.4	−0.005%	$1.5M	$2.0M	20x	as long as short
Phoenix MU	+0.0304%	1h	1,051.9	−0.053%	$538K	$271K	15x	as long as short