Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.041%

Price spread now: SunX against Deribit+0.136%7-day average +0.168% · 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−$89as in the Price arb table

costs, in and out, $10k−$850.855% of the position

Long on Deribit Short on SunX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.064%−$6 on $10k

Price spread, last 3 days (all we have)0.000%$0 · spread now +0.136%, 7d avg +0.168%

Together, before fees−0.064%−$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SunX is 0.032% cheaper against Deribit than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.168%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MU_USDC-PERPETUAL	1,048.7	0	get 0.0000% / 1h	33m 54s	$66K	$330K	10x
Short	SunX MU-USDT	1,050.1	0	get 0.0000% / 8h	6h 33m	$11K	$6.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Deribit. 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 DeribitbpFee SunXbpOrdersPrice spread, now +0.136%Rate

Funding earned: $0
Price spread: +0.136% → +0.168%: −$3.18
Slippage, 4 orders: −$70.45
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$88.63
Costs to cover: 0.855%
Break-even: never at this rate

Slippage from Deribit: live order book, 35 min ago; SunX: live order book, 5 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 Deribit live order book, 35 min ago	3.09 bp	12.8 bp −$13	14.8 bp −$148	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	21.58 bp	32.5 bp −$33	doesn't fit	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	−0.0949%	4h	1,048.4	−0.026%	$1.3M	$671K	10x	as long as short
Nado MU-PERP	−0.0006%	1h	1,049.3	+0.053%	$274K	$858K	10x	as long as short
Bybit MUUSDT	0.0000%	8h	1,049.6	+0.085%	$19.2M	$32.6M	100x	as long as short
Gate MU_USDT	0.0000%	8h	1,049.2	+0.042%	$62.1M	$27.6M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,048.8	+0.008%	$190K	$3.4M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,049.1	+0.040%	$26K	$395K	10x	as long as short
SunX MU-USDTshort	0.0000%	8h	1,050.1	+0.136%	$11K	$6.0M	10x
Deribit MU_USDC-PERPETUALlong	0.0000%	1h	1,048.7	long leg	$66K	$330K	10x
HTX MU-USDT	0.0000%	8h	1,048.9	+0.013%	$129K	$430K	50x	as long as short
Aftermath Perps MUUSD	+0.0020%	1h	1,048.7	0.000%	$3K	$45K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MU	+0.0032%	1h	1,049.1	+0.035%	$1.1M	$4.8M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,049.1	+0.041%	$1.1M	$4.2M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,048.9	+0.016%	$567K	$1.2M	10x	as long as short
QFEX MU-USD	+0.0040%	1h	1,049.1	+0.041%	$7.5M	$20.0M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,048.9	+0.016%	$71K	$237K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,050	+0.125%	—	$176K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,049.2	+0.047%	$178.1M	$99.9M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,048.9	+0.018%	$170K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,049.1	+0.036%	$688K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,048.4	−0.030%	$1.9M	$2.4M	10x	as long as short
OKX MU-USDT-SWAP	+0.0066%	8h	1,049.3	+0.058%	$30.8M	$100.7M	50x	as long as short
Paradex MU-USD-PERP	+0.0067%	8h	1,049.5	+0.076%	$2K	—	5x	as long as short
Pacifica MU	+0.0100%	1h	1,049.1	+0.039%	$148K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,049.2	+0.048%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,048.9	+0.015%	$71K	$267K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,049.1	+0.032%	$834	$799	20x	as long as short
Injective MU/USDC PERP	+0.0107%	1h	1,051.4	+0.253%	$19K	$5K	12x	as long as short
Coinbase International MU-PERP-INTX	+0.0128%	1h	1,048.1	−0.060%	$759K	$1.2M	10x	as long as short
Aevo MU-PERP	+0.0136%	1h	1,048.9	+0.019%	$32K	$1K	10x	as long as short
GRVT MU_USDT_Perp	+0.0158%	8h	1,049	+0.024%	$81K	$1.3M	10x	as long as short
Aster MUUSD1	+0.0197%	8h	1,049.3	+0.059%	$21.6M	$50.1M	20x	as long as short
Variational Omni MU	+0.0204%	8h	1,049.1	+0.036%	$2.7M	$2.4M	—	as long as short
Binance MUUSDT	+0.0217%	8h	1,049.3	+0.060%	$126.9M	$525.0M	50x	as long as short
Bitget MUUSDT	+0.0269%	8h	1,049.3	+0.056%	$20.3M	$41.9M	50x	as long as short
Phoenix MU	+0.0304%	1h	1,049.2	+0.047%	$537K	$273K	15x	as long as short
RISEx MU/USDC	+0.0507%	1h	1,049.3	+0.061%	$333K	$348K	20x	as long as short