Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0080%/8h= −8.8% APRpaid last 24h −0.052%

Price spread now: SunX against Coinbase International+0.148%7-day average +0.180% · you sell dearer than you buy

Net, funding: paid 7d − costs−$110as in the Funding arb table

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$740.742% of the position

Long on Coinbase International Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.355%−$35 on $10k

Price spread, last 4 days (all we have)−0.015%−$1 · spread now +0.148%, 7d avg +0.180%

Together, before fees−0.369%−$37 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and SunX is 0.032% cheaper against Coinbase International than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.180%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MU-PERP-INTX	1,038.3	0.0080	pay 0.0010% / 1h	6m 33s	$726K	$1.2M	10x
Short	SunX MU-USDT	1,039.9	0	get 0.0000% / 8h	6m 33s	$11K	$5.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Coinbase International. 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 Coinbase InternationalbpFee SunXbpOrdersPrice spread, now +0.148%Rate

Funding earned: −$16.8
Price spread: +0.148% → +0.180%: −$3.18
Slippage, 4 orders: −$56.2
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$94.18
Costs to cover: 0.742%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; SunX: live order book, 12 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 Coinbase International live order book, 2 min ago	2.70 bp	8.2 bp −$8	12.3 bp −$123	40.3 bp −$4,026	doesn't fit
Sell SunX live order book, 12 min ago	21.56 bp	32.7 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	−0.0764%	4h	1,037.8	−0.052%	$1.3M	$672K	10x	as long as short
Bitget MUUSDT	−0.0140%	8h	1,038.6	+0.025%	$20.2M	$39.9M	50x	as long as short
Aster MUUSD1	0.0000%	8h	1,038.4	+0.009%	$21.2M	$67.5M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,038.4	+0.002%	$122.5M	$536.9M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,038.4	+0.007%	$18.8M	$32.2M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,038.2	−0.012%	$29.8M	$100.0M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,038.5	+0.011%	$313K	$384K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,038.2	−0.011%	$61.6M	$28.4M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,037.8	−0.056%	$2.5M	$2.6M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,037.9	−0.040%	$71K	$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	1,038.3	−0.003%	$188K	$3.5M	20x	as long as short
SunX MU-USDTshort	0.0000%	8h	1,039.9	+0.148%	$11K	$5.5M	10x
HTX MU-USDT	0.0000%	8h	1,038.2	−0.010%	$126K	$481K	50x	as long as short
Bullet MU-USD	+0.0007%	1h	1,038.3	−0.004%	$25K	$388K	10x	as long as short
Nado MU-PERP	+0.0017%	1h	1,037.8	−0.053%	$280K	$804K	10x	as long as short
Aftermath Perps MUUSD	+0.0019%	1h	1,038.4	+0.006%	$3K	$44K	10x	as long as short
QFEX MU-USD	+0.0021%	1h	1,038.2	−0.018%	$7.0M	$18.7M	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,038.1	−0.024%	$1.1M	$4.5M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,038	−0.035%	$546K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.254%	$19K	$5K	12x	as long as short
Lighter MU	+0.0040%	1h	1,038.2	−0.014%	$1.0M	$4.9M	20x	as long as short
Arcus MU-USD	+0.0040%	1h	1,037.8	−0.051%	$90K	$244K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,038.4	+0.004%	—	$175K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,038.2	−0.013%	$176.4M	$80.2M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,038.1	−0.023%	$168K	$177K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,038.3	−0.009%	$681K	$15K	10x	as long as short
Paradex MU-USD-PERP	+0.0050%	8h	1,038.3	−0.005%	$2K	—	5x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,037.8	−0.049%	$1.9M	$2.7M	10x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0068%	1h	1,038.1	−0.025%	$74K	$620K	10x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,038	−0.034%	$32K	$1K	10x	as long as short
Coinbase International MU-PERP-INTXlong	+0.0080%	1h	1,038.3	long leg	$726K	$1.2M	10x
Pacifica MU	+0.0100%	1h	1,038	−0.030%	$145K	$191K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,038	−0.033%	$5.2M	$4.1M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,038	−0.035%	$70K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,038.3	−0.008%	$825	$799	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,038.3	0.000%	$1.5M	$2.1M	20x	as long as short
Phoenix MU	+0.0232%	1h	1,038.7	+0.035%	$531K	$270K	15x	as long as short