Funding arb · Price arb /

MU

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0855%/8h= +93.6% APRpaid last 24h −0.040%

Price spread now: Bullet against edgeX−0.081%53s7-day average +0.022% · 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—prices read too far apart to compare

costs, in and out, $10k−$250.252% of the position

Long on edgeX Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.185%−$18 on $10k

Price spread, last 3 days (all we have)+0.086%+$9 · spread now −0.081%, 7d avg +0.022%

Together, before fees−0.099%+ Points / potential airdropedgeX: Active · farm board−$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bullet is 0.103% cheaper against edgeX than usual: you would sell low and buy high (spread −0.081% now, against its 7-day average of +0.022%). If the spread goes back, that is −$10 on $10k: about 10 hours of funding at the current rate (+$26 a day). Mind the row above: over the last 3 days funding on this pair cost −0.185%, so the current rate has only just turned in your favour. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.185% in total (about -20.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX MUUSDC	1,050.5	−0.0855	get 0.0427% / 4h	2h 57m	$1.3M	$670K	10x
Short	Bullet MU-USD	1,049.6	0	get 0.0000% / 1h	57m 34s	$26K	$397K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against edgeX. 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 edgeXbpFee BulletbpOrdersPrice spread, now −0.081%Rate

Funding earned: $179.49
Price spread: −0.081% → +0.022%: −$10.34
Slippage, 4 orders: −$8.16
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bullet: 4 bp × 2 orders: −$8
Net: $144
Costs to cover: 0.252%
Break-even: 1.4 days

Slippage from edgeX: live order book, 1 min ago; Bullet: live order book, 11 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 edgeX live order book, 1 min ago	0.29 bp	4.9 bp −$5	6.9 bp −$69	29.9 bp −$2,994	doesn't fit
Sell Bullet live order book, 11 min ago	1.43 bp	8.3 bp −$8	20.9 bp −$209	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 MUUSDClong	−0.0855%	4h	1,050.5	long leg	$1.3M	$670K	10x
Nado MU-PERP	−0.0014%	1h	1,048.9	−0.149%	$271K	$859K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,049.1	−0.131%	$62.4M	$27.3M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,049.5	−0.090%	$190K	$3.3M	20x	as long as short
Bullet MU-USDshort	0.0000%	1h	1,049.6	−0.081%	$26K	$397K	10x
SunX MU-USDT	0.0000%	8h	1,050.4	−0.008%	$11K	$6.1M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,049.1	−0.129%	$65K	$315K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,049.4	−0.098%	$129K	$424K	50x	as long as short
Aftermath Perps MUUSD	+0.0022%	1h	1,050.2	−0.022%	$3K	$45K	10x	as long as short
Lighter MU	+0.0032%	1h	1,049.2	−0.121%	$1.1M	$4.8M	20x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH MU	+0.0032%	1h	1,049.2	−0.120%	$1.2M	$4.1M	10x	as long as short
QFEX MU-USD	+0.0040%	1h	1,049.1	−0.131%	$7.6M	$20.9M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,050	−0.043%	$71K	$242K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,050.2	−0.021%	—	$179K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,048.9	−0.148%	$178.1M	$100.2M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,048.8	−0.157%	$170K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,049.4	−0.098%	$689K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,049.1	−0.132%	$1.9M	$2.4M	10x	as long as short
Paradex MU-USD-PERP	+0.0079%	8h	1,049	−0.138%	$2K	—	5x	as long as short
OKX MU-USDT-SWAP	+0.0098%	8h	1,049.1	−0.130%	$30.9M	$101.4M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,049.3	−0.112%	$148K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,049.3	−0.112%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,050.4	−0.007%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,049.6	−0.080%	$834	$799	20x	as long as short
Injective MU/USDC PERP	+0.0107%	1h	1,051.4	+0.086%	$19K	$5K	12x	as long as short
Bybit MUUSDT	+0.0117%	8h	1,049.4	−0.100%	$19.3M	$32.7M	100x	as long as short
Coinbase International MU-PERP-INTX	+0.0128%	1h	1,049.6	−0.083%	$761K	$1.2M	10x	as long as short
Aevo MU-PERP	+0.0152%	1h	1,049.1	−0.126%	$32K	$1K	10x	as long as short
Extended MU_24_5-USD	+0.0200%	1h	1,048.7	−0.163%	$563K	$1.2M	10x	as long as short
Variational Omni MU	+0.0260%	8h	1,050.4	−0.009%	$2.7M	$2.4M	—	as long as short
Aster MUUSD1	+0.0262%	8h	1,049.8	−0.065%	$21.6M	$49.0M	20x	as long as short
Binance MUUSDT	+0.0268%	8h	1,049.2	−0.116%	$125.9M	$522.8M	50x	as long as short
Phoenix MU	+0.0383%	1h	1,050.9	+0.042%	$538K	$273K	15x	as long as short
BloFin MU-USDT	+0.0392%	8h	1,050.4	−0.005%	$1.5M	$2.0M	20x	as long as short
Bitget MUUSDT	+0.0395%	8h	1,049.2	−0.117%	$20.5M	$41.6M	50x	as long as short
RISEx MU/USDC	+0.0507%	1h	1,049.3	−0.114%	$315K	$340K	20x	as long as short
GRVT MU_USDT_Perp	+0.0514%	8h	1,050.4	−0.005%	$83K	$1.3M	10x	as long as short