Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.010%

Price spread now: HTX against Injective+0.065%65s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Injective Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.016%+$2 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. HTX is 0.065% dearer against Injective than usual: you sell high and buy low (spread +0.065% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 6.5 days. The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective MU/USDC PERP	1,051.4	0.0033	pay 0.0004% / 1h	7m 54s	$19K	$5K	12x
Short	HTX MU-USDT	1,052	0	get 0.0000% / 8h	4h 07m	$131K	$434K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Injective. 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 InjectivebpFee HTXbpOrdersPrice spread, now +0.065%Rate

Funding earned: −$7
Price spread: +0.065% → 0.000%: $6.47
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee HTX: 6 bp × 2 orders: −$12
Net: −$12.55
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; HTX: live order book, 50 min ago. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell HTX live order book, 50 min ago	3.18 bp	10.5 bp −$10	10.5 bp −$105	15.3 bp −$1,532	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0884%	4h	1,052	+0.056%	$1.3M	$671K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,052.4	+0.102%	$21.4M	$55.0M	20x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,052.2	+0.079%	$31.2M	$99.6M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,052.4	+0.101%	$340K	$354K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,052.2	+0.076%	$62.3M	$27.5M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,051.9	+0.054%	$2.7M	$2.4M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,052.4	+0.098%	$81K	$1.4M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,052.2	+0.079%	$190K	$3.4M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,052.6	+0.122%	$11K	$5.8M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,051.9	+0.054%	$72K	$447K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX MU-USDTshort	0.0000%	8h	1,052	+0.065%	$131K	$434K	50x
Bybit MUUSDT	+0.0016%	8h	1,052.4	+0.096%	$19.1M	$32.2M	100x	as long as short
Aftermath Perps MUUSD	+0.0022%	1h	1,052	+0.064%	$3K	$44K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,052.3	+0.085%	$1.3M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,051.7	+0.037%	$566K	$1.1M	10x	as long as short
Binance MUUSDT	+0.0032%	8h	1,052.3	+0.090%	$126.6M	$516.3M	50x	as long as short
Injective MU/USDC PERPlong	+0.0033%	1h	1,051.4	long leg	$19K	$5K	12x
QFEX MU-USD	+0.0034%	1h	1,052.2	+0.080%	$7.1M	$17.8M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,051.9	+0.051%	$71K	$234K	10x	as long as short
Nado MU-PERP	+0.0043%	1h	1,052.1	+0.073%	$282K	$836K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,053.4	+0.190%	—	$176K	25x	as long as short
Bullet MU-USD	+0.0046%	1h	1,052.4	+0.096%	$26K	$395K	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,051.9	+0.051%	$171K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,052.2	+0.075%	$690K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,051.4	−0.001%	$1.9M	$2.2M	10x	as long as short
Paradex MU-USD-PERP	+0.0051%	8h	1,052.2	+0.080%	$2K	—	5x	as long as short
Lighter MU	+0.0056%	1h	1,052.3	+0.089%	$1.1M	$5.1M	20x	as long as short
Bitget MUUSDT	+0.0059%	8h	1,052.3	+0.090%	$20.5M	$41.1M	50x	as long as short
tradeXYZ xyz:MU	+0.0068%	1h	1,052	+0.061%	$178.8M	$97.8M	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0080%	1h	1,052.9	+0.146%	$759K	$1.2M	10x	as long as short
Aevo MU-PERP	+0.0088%	1h	1,051.8	+0.044%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,052.4	+0.096%	$148K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,052.1	+0.068%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,052	+0.065%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,052.1	+0.072%	$836	$799	20x	as long as short
BloFin MU-USDT	+0.0135%	8h	1,052.5	+0.105%	$1.5M	$2.0M	20x	as long as short
Phoenix MU	+0.0304%	1h	1,052.4	+0.099%	$538K	$271K	15x	as long as short