Funding arb · Price arb /

MU

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0017%/8h= +1.9% APRpaid last 24h +0.017%

Price spread now: Paradex against Injective−1.243%7-day average — · you buy dearer than you sell

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

Long on Injective Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 1.243% cheaper against Injective than usual: you would sell low and buy high (spread −1.243% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$124 on $10k: about 8 months of funding at the current rate (+$1 a day).

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	6m 48s	$19K	$5K	12x
Short	Paradex MU-USD-PERP	1,038.3	0.0050	get 0.0050% / 8h	6m 48s	$2K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −1.243%Rate

Funding earned: $3.58
Price spread: −1.243% → 0.000%: −$124.33
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$124.77
Costs to cover: 0.040%
Break-even: 251.0 days

Slippage unknown: Injective: no order-book sample; Paradex: no order-book sample. 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 Paradex no order-book sample	—	—	—	—	—

Injective and Paradex: 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	−0.0764%	4h	1,037.8	−1.290%	$1.3M	$672K	10x	as long as short
Bitget MUUSDT	−0.0143%	8h	1,038.5	−1.219%	$20.2M	$39.9M	50x	as long as short
Aster MUUSD1	0.0000%	8h	1,038.4	−1.230%	$21.2M	$67.4M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,038.4	−1.232%	$122.5M	$536.9M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,038.4	−1.233%	$18.8M	$32.2M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,038.3	−1.244%	$29.8M	$100.0M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,038.3	−1.239%	$313K	$384K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,038.1	−1.262%	$61.5M	$28.4M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,037.8	−1.294%	$2.5M	$2.6M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,037.9	−1.278%	$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	1,038.2	−1.248%	$188K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,039.9	−1.092%	$11K	$5.5M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,038.2	−1.248%	$126K	$481K	50x	as long as short
Bullet MU-USD	+0.0007%	1h	1,038.3	−1.242%	$25K	$388K	10x	as long as short
Nado MU-PERP	+0.0016%	1h	1,037.8	−1.292%	$280K	$804K	10x	as long as short
Aftermath Perps MUUSD	+0.0019%	1h	1,038.4	−1.233%	$3K	$44K	10x	as long as short
QFEX MU-USD	+0.0021%	1h	1,038.1	−1.261%	$7.0M	$18.7M	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,038.1	−1.262%	$1.1M	$4.5M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,037.7	−1.299%	$547K	$1.1M	10x	as long as short
Injective MU/USDC PERPlong	+0.0033%	1h	1,051.4	long leg	$19K	$5K	12x
Lighter MU	+0.0040%	1h	1,038.2	−1.253%	$1.0M	$4.9M	20x	as long as short
Arcus MU-USD	+0.0040%	1h	1,037.8	−1.291%	$90K	$244K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,038.4	−1.234%	—	$175K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,038.2	−1.252%	$176.4M	$80.2M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,038.2	−1.252%	$168K	$177K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,038.3	−1.247%	$681K	$15K	10x	as long as short
Paradex MU-USD-PERPshort	+0.0050%	8h	1,038.3	−1.243%	$2K	—	5x
Ondo Perps MU-USD.P	+0.0050%	1h	1,037.8	−1.287%	$1.9M	$2.7M	10x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0068%	1h	1,038.1	−1.263%	$74K	$620K	10x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,038	−1.272%	$32K	$1K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0080%	1h	1,038.3	−1.238%	$726K	$1.2M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,038	−1.268%	$145K	$191K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,038	−1.271%	$5.2M	$4.1M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,038	−1.273%	$70K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,038.3	−1.246%	$825	$799	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,038.3	−1.238%	$1.5M	$2.1M	20x	as long as short
Phoenix MU	+0.0232%	1h	1,038.7	−1.204%	$531K	$270K	15x	as long as short