Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: HTX against Pacifica−0.020%7-day average +0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$370.369% of the position

Long on Pacifica Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.163%−$16 on $10k

Price spread, last 3 days (all we have)+0.062%+$6 · spread now −0.020%, 7d avg +0.027%

Together, before fees−0.102%+ Points / potential airdropPacifica: Active · farm board−$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and HTX is 0.047% cheaper against Pacifica than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.027%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica MU	1,049.8	0.0100	pay 0.0013% / 1h	47m 57s	$148K	$185K	10x
Short	HTX MU-USDT	1,049.6	0	get 0.0000% / 8h	5h 47m	$129K	$427K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Pacifica. 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 PacificabpFee HTXbpOrdersPrice spread, now −0.020%Rate

Funding earned: −$21
Price spread: −0.020% → +0.027%: −$4.73
Slippage, 4 orders: −$16.85
Fee Pacifica: 4 bp × 2 orders: −$8
Fee HTX: 6 bp × 2 orders: −$12
Net: −$62.58
Costs to cover: 0.369%
Break-even: never at this rate

Slippage from Pacifica: live order book, 15 min ago; HTX: live order book, 15 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 Pacifica live order book, 15 min ago	2.76 bp	7.4 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 15 min ago	3.43 bp	9.7 bp −$10	10.1 bp −$101	20.6 bp −$2,057	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	+0.060%	$1.3M	$671K	10x	as long as short
RISEx MU/USDC	0.0000%	1h	1,050	+0.023%	$333K	$349K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,049.9	+0.010%	$62.1M	$27.4M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,050.1	+0.032%	$190K	$3.4M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,051.5	+0.161%	$11K	$5.9M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,049.6	−0.017%	$66K	$356K	10x	as long as short
HTX MU-USDTshort	0.0000%	8h	1,049.6	−0.020%	$129K	$427K	50x
Bybit MUUSDT	+0.0017%	8h	1,050.3	+0.044%	$19.2M	$32.4M	100x	as long as short
Aftermath Perps MUUSD	+0.0019%	1h	1,049.9	+0.010%	$3K	$44K	10x	as long as short
GRVT MU_USDT_Perp	+0.0024%	8h	1,050.8	+0.094%	$79K	$1.3M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX MU-USD	+0.0030%	1h	1,049.6	−0.019%	$7.3M	$18.4M	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,049.9	+0.008%	$1.2M	$4.2M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.150%	$19K	$5K	12x	as long as short
Extended MU_24_5-USD	+0.0040%	1h	1,049.4	−0.037%	$564K	$1.1M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,050	+0.024%	$71K	$235K	10x	as long as short
OKX MU-USDT-SWAP	+0.0041%	8h	1,050	+0.016%	$31.0M	$100.0M	50x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,050.7	+0.082%	—	$175K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,049.6	−0.018%	$170K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,049.9	+0.014%	$689K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,048.9	−0.081%	$1.9M	$2.3M	10x	as long as short
Paradex MU-USD-PERP	+0.0059%	8h	1,049.9	+0.006%	$2K	—	5x	as long as short
Lighter MU	+0.0080%	1h	1,049.9	+0.010%	$1.1M	$4.8M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0096%	1h	1,049.9	+0.014%	$756K	$1.2M	10x	as long as short
Pacifica MUlong	+0.0100%	1h	1,049.8	long leg	$148K	$185K	10x
KuCoin MUUSDTM	+0.0100%	8h	1,049.9	+0.014%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,050.8	+0.096%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050	+0.022%	$835	$799	20x	as long as short
Nado MU-PERP	+0.0104%	1h	1,049.7	−0.012%	$280K	$849K	10x	as long as short
Aster MUUSD1	+0.0108%	8h	1,050.2	+0.038%	$21.4M	$52.1M	20x	as long as short
tradeXYZ xyz:MU	+0.0115%	1h	1,049.7	−0.008%	$178.2M	$99.2M	10x	as long as short
Aevo MU-PERP	+0.0120%	1h	1,049.6	−0.020%	$32K	$1K	10x	as long as short
Variational Omni MU	+0.0144%	8h	1,050.4	+0.062%	$2.7M	$2.3M	—	as long as short
Bullet MU-USD	+0.0145%	1h	1,050.1	+0.026%	$26K	$397K	10x	as long as short
Binance MUUSDT	+0.0163%	8h	1,050	+0.017%	$126.4M	$520.0M	50x	as long as short
Bitget MUUSDT	+0.0165%	8h	1,050	+0.020%	$20.6M	$41.2M	50x	as long as short
Phoenix MU	+0.0229%	1h	1,050.2	+0.039%	$537K	$271K	15x	as long as short