Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0192%/8h= +21.0% APRpaid last 24h +0.039%

Price spread now: Coinbase International against OKX−0.076%7-day average −0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$330.330% of the position

Long on OKX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.228%+$23 on $10k

Price spread, last 4 days (all we have)+0.033%+$3 · spread now −0.076%, 7d avg −0.033%

Together, before fees+0.261%+$26 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.043% cheaper against OKX than usual: you would sell low and buy high (spread −0.076% now, against its 7-day average of −0.033%). If the spread goes back, that is −$4 on $10k: about 18 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MU-USDT-SWAP	1,039.3	0	get 0.0000% / 8h	5h 43m	$29.7M	$107.7M	50x
Short	Coinbase International MU-PERP-INTX	1,038.5	0.0192	get 0.0024% / 1h	43m 58s	$727K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.076%Rate

Funding earned: $40.32
Price spread: −0.076% → −0.033%: −$4.34
Slippage, 4 orders: −$13
Fee OKX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $2.97
Costs to cover: 0.330%
Break-even: 6.5 days

Slippage from OKX: live order book, 3 min ago; Coinbase International: live order book, 3 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, 3 min ago	0.05 bp	5.2 bp −$5	6.9 bp −$69	20.6 bp −$2,058	doesn't fit
Sell Coinbase International live order book, 3 min ago	5.30 bp	10.4 bp −$10	11.6 bp −$116	63.6 bp −$6,359	doesn't fit

MU on 37 exchanges

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	−0.0300%	4h	1,039.7	+0.038%	$1.3M	$696K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,039.4	+0.014%	$21.2M	$73.6M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,039.2	−0.003%	$121.6M	$555.5M	50x	as long as short
OKX MU-USDT-SWAPlong	0.0000%	8h	1,039.3	long leg	$29.7M	$107.7M	50x
Gate MU_USDT	0.0000%	8h	1,039.2	−0.009%	$61.4M	$28.0M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,039.1	−0.012%	$19.8M	$43.6M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,039.1	−0.019%	$2.6M	$2.6M	—	as long as short
StandX MU-USD	0.0000%	1h	1,038.7	−0.056%	$188K	$3.7M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,040.8	+0.149%	$11K	$5.0M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,038.4	−0.082%	$34K	$726K	10x	as long as short

Show all 37 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX MU-USDT	0.0000%	8h	1,038.9	−0.036%	$119K	$474K	50x	as long as short
Lighter RH MU	+0.0032%	1h	1,038.9	−0.034%	$1.2M	$4.5M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.164%	$19K	$5K	12x	as long as short
Aftermath Perps MUUSD	+0.0035%	1h	1,039	−0.022%	$3K	$41K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,039.8	+0.048%	—	$177K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,038.7	−0.054%	$169K	$171K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,038.9	−0.034%	$683K	$14K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,037.4	−0.179%	$1.9M	$3.2M	10x	as long as short
QFEX MU-USD	+0.0058%	1h	1,038.4	−0.080%	$7.0M	$19.3M	10x	as long as short
Bybit MUUSDT	+0.0067%	8h	1,039.4	+0.016%	$18.8M	$32.3M	100x	as long as short
Paradex MU-USD-PERP	+0.0079%	8h	1,038.8	−0.048%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,038.7	−0.054%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,038.4	−0.086%	$150K	$227K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,038.8	−0.040%	$5.2M	$6.0M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,039.8	+0.053%	$71K	$270K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,039	−0.027%	$826	$799	20x	as long as short
RISEx MU/USDC	+0.0118%	1h	1,039.1	−0.017%	$299K	$351K	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,039.2	−0.002%	$1.5M	$2.6M	20x	as long as short
Nado MU-PERP	+0.0123%	1h	1,038.4	−0.081%	$276K	$841K	10x	as long as short
Arcus MU-USD	+0.0139%	1h	1,038.3	−0.091%	$90K	$148K	10x	as long as short
Lighter MU	+0.0168%	1h	1,039	−0.025%	$1.0M	$5.0M	20x	as long as short
Coinbase International MU-PERP-INTXshort	+0.0192%	1h	1,038.5	−0.076%	$727K	$1.2M	10x
Bullet MU-USD	+0.0206%	1h	1,039.3	+0.003%	$24K	$385K	10x	as long as short
GRVT MU_USDT_Perp	+0.0221%	8h	1,040.4	+0.113%	$73K	$1.4M	10x	as long as short
tradeXYZ xyz:MU	+0.0239%	1h	1,038.9	−0.035%	$177.2M	$75.7M	10x	as long as short
Phoenix MU	+0.0308%	1h	1,040.4	+0.110%	$532K	$159K	15x	as long as short
Extended MU_24_5-USD	+0.0336%	1h	1,038.3	−0.097%	$551K	$1.1M	10x	as long as short