Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.029%

Price spread now: Coinbase International against Bybit−0.031%7-day average −0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$380.385% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.237%+$24 on $10k

Price spread, last 4 days (all we have)−0.032%−$3 · spread now −0.031%, 7d avg −0.041%

Together, before fees+0.205%+$20 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.041%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MUUSDT	1,036.3	0	get 0.0000% / 8h	1h 39m	$18.5M	$32.2M	100x
Short	Coinbase International MU-PERP-INTX	1,036	0.0104	get 0.0013% / 1h	39m 48s	$731K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.031%Rate

Funding earned: $21.84
Price spread: −0.031% → −0.041%: $1.04
Slippage, 4 orders: −$17.48
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$15.59
Costs to cover: 0.385%
Break-even: 12.0 days

Slippage from Bybit: live order book, 4 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 Bybit live order book, 4 min ago	0.39 bp	7.2 bp −$7	10.6 bp −$106	32.5 bp −$3,255	doesn't fit
Sell Coinbase International live order book, 4 min ago	6.08 bp	11.1 bp −$11	13.7 bp −$137	66.3 bp −$6,628	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	−0.0796%	4h	1,036.5	+0.020%	$1.3M	$674K	10x	as long as short
Bitget MUUSDT	−0.0172%	8h	1,036.4	+0.009%	$20.2M	$41.4M	50x	as long as short
Aster MUUSD1	0.0000%	8h	1,036.9	+0.053%	$21.1M	$58.0M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,036.3	−0.008%	$121.3M	$537.2M	50x	as long as short
Bybit MUUSDTlong	0.0000%	8h	1,036.3	long leg	$18.5M	$32.2M	100x
OKX MU-USDT-SWAP	0.0000%	8h	1,036.1	−0.028%	$29.9M	$100.3M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,036.8	+0.040%	$315K	$386K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,036.4	+0.002%	$61.6M	$28.4M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,036	−0.032%	$2.5M	$2.6M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,036.1	−0.019%	$73K	$1.4M	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX MU-USD	0.0000%	1h	1,035.9	−0.041%	$187K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,037.5	+0.107%	$11K	$5.6M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,036	−0.030%	$74K	$554K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,036.1	−0.028%	$127K	$441K	50x	as long as short
Bullet MU-USD	+0.0003%	1h	1,036.5	+0.015%	$26K	$389K	10x	as long as short
Nado MU-PERP	+0.0013%	1h	1,036.5	+0.019%	$277K	$816K	10x	as long as short
Aftermath Perps MUUSD	+0.0017%	1h	1,036.1	−0.019%	$3K	$44K	10x	as long as short
Lighter MU	+0.0032%	1h	1,036.6	+0.026%	$1.1M	$4.9M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,036.5	+0.017%	$1.2M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,036	−0.028%	$540K	$1.1M	10x	as long as short
QFEX MU-USD	+0.0032%	1h	1,036.4	+0.004%	$7.0M	$18.6M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.449%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,036.1	−0.028%	$70K	$230K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,036.4	+0.006%	—	$175K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,036.3	−0.004%	$176.0M	$89.3M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,036.3	−0.004%	$168K	$196K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,036.3	−0.008%	$680K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,034.8	−0.148%	$1.8M	$2.6M	10x	as long as short
Paradex MU-USD-PERP	+0.0052%	8h	1,036.5	+0.011%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,035.9	−0.043%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,036.4	+0.009%	$147K	$190K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,036.4	+0.001%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,036.8	+0.044%	$70K	$270K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,036.4	+0.007%	$824	$799	20x	as long as short
Coinbase International MU-PERP-INTXshort	+0.0104%	1h	1,036	−0.031%	$731K	$1.2M	10x
BloFin MU-USDT	+0.0120%	8h	1,036.1	−0.024%	$1.5M	$2.1M	20x	as long as short
Phoenix MU	+0.0231%	1h	1,036.2	−0.014%	$530K	$270K	15x	as long as short