Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0128%/8h= +14.0% APRpaid last 24h +0.013%

Price spread now: Bullet against Bybit−0.018%7-day average +0.009% · 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−$32as in the Price arb table

costs, in and out, $10k−$300.295% of the position

Long on Bybit Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.076%+$8 on $10k

Price spread, last 4 days (all we have)−0.071%−$7 · spread now −0.018%, 7d avg +0.009%

Together, before fees+0.005%$0 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bullet is 0.027% cheaper against Bybit than usual: you would sell low and buy high (spread −0.018% now, against its 7-day average of +0.009%). If the spread goes back, that is −$3 on $10k: about 17 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MUUSDT	1,050.3	0.0017	pay 0.0017% / 8h	5h 48m	$19.2M	$32.4M	100x
Short	Bullet MU-USD	1,050.1	0.0145	get 0.0018% / 1h	48m 00s	$26K	$397K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Bybit. 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 BybitbpFee BulletbpOrdersPrice spread, now −0.018%Rate

Funding earned: $26.86
Price spread: −0.018% → +0.009%: −$2.7
Slippage, 4 orders: −$10.54
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$5.38
Costs to cover: 0.295%
Break-even: 8.4 days

Slippage from Bybit: live order book, 1 min ago; Bullet: live order book, 16 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 Bybit live order book, 1 min ago	0.76 bp	8.8 bp −$9	10.6 bp −$106	29.9 bp −$2,987	doesn't fit
Sell Bullet live order book, 16 min ago	0.95 bp	6.6 bp −$7	21.0 bp −$210	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	+0.016%	$1.3M	$671K	10x	as long as short
RISEx MU/USDC	0.0000%	1h	1,050	−0.021%	$333K	$349K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,049.9	−0.034%	$62.1M	$27.4M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,050.1	−0.012%	$190K	$3.4M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,051.5	+0.117%	$11K	$5.9M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,049.6	−0.061%	$66K	$356K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,049.6	−0.064%	$129K	$427K	50x	as long as short
Bybit MUUSDTlong	+0.0017%	8h	1,050.3	long leg	$19.2M	$32.4M	100x
Aftermath Perps MUUSD	+0.0019%	1h	1,049.9	−0.034%	$3K	$44K	10x	as long as short
GRVT MU_USDT_Perp	+0.0024%	8h	1,050.8	+0.050%	$79K	$1.3M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX MU-USD	+0.0030%	1h	1,049.6	−0.063%	$7.3M	$18.4M	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,049.9	−0.036%	$1.2M	$4.2M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.106%	$19K	$5K	12x	as long as short
Extended MU_24_5-USD	+0.0040%	1h	1,049.4	−0.081%	$564K	$1.1M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,050	−0.020%	$71K	$235K	10x	as long as short
OKX MU-USDT-SWAP	+0.0041%	8h	1,050	−0.028%	$31.0M	$100.0M	50x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,050.7	+0.038%	—	$175K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,049.6	−0.062%	$170K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,049.9	−0.030%	$689K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,048.9	−0.125%	$1.9M	$2.3M	10x	as long as short
Paradex MU-USD-PERP	+0.0059%	8h	1,049.9	−0.038%	$2K	—	5x	as long as short
Lighter MU	+0.0080%	1h	1,049.9	−0.034%	$1.1M	$4.8M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0096%	1h	1,049.9	−0.030%	$756K	$1.2M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,049.8	−0.044%	$148K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,049.9	−0.030%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,050.8	+0.052%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050	−0.022%	$835	$799	20x	as long as short
Nado MU-PERP	+0.0104%	1h	1,049.7	−0.056%	$280K	$849K	10x	as long as short
Aster MUUSD1	+0.0108%	8h	1,050.2	−0.006%	$21.4M	$52.1M	20x	as long as short
tradeXYZ xyz:MU	+0.0115%	1h	1,049.7	−0.052%	$178.2M	$99.2M	10x	as long as short
Aevo MU-PERP	+0.0120%	1h	1,049.6	−0.064%	$32K	$1K	10x	as long as short
Variational Omni MU	+0.0144%	8h	1,050.4	+0.018%	$2.7M	$2.3M	—	as long as short
Bullet MU-USDshort	+0.0145%	1h	1,050.1	−0.018%	$26K	$397K	10x
Binance MUUSDT	+0.0163%	8h	1,050	−0.027%	$126.4M	$520.0M	50x	as long as short
Bitget MUUSDT	+0.0165%	8h	1,050	−0.024%	$20.6M	$41.2M	50x	as long as short
Phoenix MU	+0.0229%	1h	1,050.2	−0.005%	$537K	$271K	15x	as long as short