Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0117%/8h= +12.8% APRpaid last 24h +0.030%

Price spread now: Bullet against OKX−0.008%7-day average +0.014% · 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−$26as in the Price arb table

costs, in and out, $10k−$240.240% of the position

Long on OKX Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.083%+$8 on $10k

Price spread, last 4 days (all we have)−0.098%−$10 · spread now −0.008%, 7d avg +0.014%

Together, before fees−0.015%−$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bullet is 0.021% cheaper against OKX than usual: you would sell low and buy high (spread −0.008% now, against its 7-day average of +0.014%). If the spread goes back, that is −$2 on $10k: about 15 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MU-USDT-SWAP	1,050.4	0.0042	pay 0.0042% / 8h	5h 49m	$31.0M	$100.1M	50x
Short	Bullet MU-USD	1,050.3	0.0159	get 0.0020% / 1h	49m 47s	$26K	$397K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against OKX. 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 OKXbpFee BulletbpOrdersPrice spread, now −0.008%Rate

Funding earned: $24.52
Price spread: −0.008% → +0.014%: −$2.15
Slippage, 4 orders: −$6
Fee OKX: 5 bp × 2 orders: −$10
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$1.62
Costs to cover: 0.240%
Break-even: 7.5 days

Slippage from OKX: live order book, 4 min ago; Bullet: live order book, 14 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 OKX live order book, 4 min ago	0.05 bp	5.1 bp −$5	6.9 bp −$69	22.6 bp −$2,256	doesn't fit
Sell Bullet live order book, 14 min ago	0.95 bp	6.6 bp −$7	21.0 bp −$210	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	−0.0504%	4h	1,050.4	0.000%	$1.3M	$671K	10x	as long as short
RISEx MU/USDC	0.0000%	1h	1,050.8	+0.036%	$333K	$349K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,050.2	−0.018%	$62.1M	$27.4M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,050	−0.043%	$190K	$3.4M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,052	+0.151%	$11K	$5.9M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,050.1	−0.032%	$129K	$427K	50x	as long as short
Aftermath Perps MUUSD	+0.0019%	1h	1,050.3	−0.010%	$3K	$44K	10x	as long as short
GRVT MU_USDT_Perp	+0.0021%	8h	1,050.7	+0.027%	$79K	$1.3M	10x	as long as short
Bybit MUUSDT	+0.0024%	8h	1,050.5	+0.007%	$19.2M	$32.4M	100x	as long as short
QFEX MU-USD	+0.0030%	1h	1,050.4	+0.002%	$7.2M	$18.5M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH MU	+0.0032%	1h	1,050.1	−0.030%	$1.2M	$4.2M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.089%	$19K	$5K	12x	as long as short
Extended MU_24_5-USD	+0.0040%	1h	1,049.5	−0.085%	$564K	$1.1M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,050.3	−0.012%	$71K	$235K	10x	as long as short
OKX MU-USDT-SWAPlong	+0.0042%	8h	1,050.4	long leg	$31.0M	$100.1M	50x
Vest MU-USD-PERP	+0.0046%	1h	1,051.2	+0.070%	—	$175K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,050.1	−0.030%	$170K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,050.2	−0.025%	$689K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,049.7	−0.068%	$1.9M	$2.3M	10x	as long as short
Paradex MU-USD-PERP	+0.0060%	8h	1,050.7	+0.026%	$2K	—	5x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0093%	1h	1,050.3	−0.013%	$66K	$355K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0096%	1h	1,049.9	−0.046%	$756K	$1.2M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,050.4	−0.006%	$149K	$187K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,050.2	−0.017%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,050.8	+0.036%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050.3	−0.008%	$835	$799	20x	as long as short
Lighter MU	+0.0104%	1h	1,050.2	−0.026%	$1.1M	$4.8M	20x	as long as short
Aster MUUSD1	+0.0110%	8h	1,050.2	−0.023%	$21.4M	$52.1M	20x	as long as short
Nado MU-PERP	+0.0112%	1h	1,050.1	−0.034%	$280K	$850K	10x	as long as short
Aevo MU-PERP	+0.0120%	1h	1,050	−0.040%	$32K	$1K	10x	as long as short
tradeXYZ xyz:MU	+0.0132%	1h	1,050	−0.040%	$178.2M	$99.2M	10x	as long as short
Variational Omni MU	+0.0144%	8h	1,050.4	+0.002%	$2.7M	$2.3M	—	as long as short
Bullet MU-USDshort	+0.0159%	1h	1,050.3	−0.008%	$26K	$397K	10x
Binance MUUSDT	+0.0165%	8h	1,050.2	−0.018%	$126.5M	$520.0M	50x	as long as short
Bitget MUUSDT	+0.0170%	8h	1,050.2	−0.021%	$20.6M	$41.2M	50x	as long as short
Phoenix MU	+0.0229%	1h	1,050.7	+0.027%	$537K	$271K	15x	as long as short