Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.058%

Price spread now: Coinbase International against SunX+0.165%7-day average −0.179% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

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

costs, in and out, $10k−$760.762% of the position

Long on SunX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.359%+$36 on $10k

Price spread, last 4 days (all we have)−0.268%−$27 · spread now +0.165%, 7d avg −0.179%

Together, before fees+0.091%+$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Coinbase International is 0.344% dearer against SunX than usual: you sell high and buy low: +$34 more if the spread goes back to its 7-day average of −0.179%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX MU-USDT	1,048.3	0	get 0.0000% / 8h	3h 42m	$11K	$5.8M	10x
Short	Coinbase International MU-PERP-INTX	1,050	0.0120	get 0.0015% / 1h	42m 51s	$757K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against SunX. 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 SunXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.165%Rate

Funding earned: $25.2
Price spread: +0.165% → −0.179%: $34.35
Slippage, 4 orders: −$58.18
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$16.63
Costs to cover: 0.762%
Break-even: 11.6 days

Slippage from SunX: live order book, 6 min ago; Coinbase International: live order book, 1 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 SunX live order book, 6 min ago	21.59 bp	25.6 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	3.77 bp	8.8 bp −$9	9.3 bp −$93	52.9 bp −$5,295	doesn't fit

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	−0.0933%	4h	1,048.6	+0.030%	$1.3M	$673K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,048.1	−0.018%	$21.3M	$56.1M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,047.9	−0.036%	$125.4M	$517.9M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,048.1	−0.019%	$19.0M	$32.0M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,047.8	−0.047%	$31.1M	$99.6M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,047.9	−0.041%	$338K	$354K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,047.7	−0.057%	$62.3M	$27.7M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,047.9	−0.040%	$20.5M	$41.3M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,048.6	+0.026%	$2.7M	$2.4M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,048.5	+0.017%	$82K	$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	1,047.7	−0.053%	$189K	$3.4M	20x	as long as short
SunX MU-USDTlong	0.0000%	8h	1,048.3	long leg	$11K	$5.8M	10x
HTX MU-USDT	0.0000%	8h	1,047.4	−0.090%	$130K	$431K	50x	as long as short
Aftermath Perps MUUSD	+0.0024%	1h	1,047.8	−0.044%	$3K	$44K	10x	as long as short
QFEX MU-USD	+0.0032%	1h	1,047.2	−0.102%	$7.1M	$17.9M	10x	as long as short
Lighter MU	+0.0032%	1h	1,047.6	−0.063%	$1.1M	$5.1M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,047.6	−0.069%	$1.3M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,047.1	−0.116%	$553K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.292%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,047.9	−0.042%	$71K	$233K	10x	as long as short
BloFin MU-USDT	+0.0041%	8h	1,047.6	−0.070%	$1.5M	$2.0M	20x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,048.2	−0.011%	—	$176K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,047.4	−0.086%	$177.6M	$97.5M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,047.4	−0.086%	$170K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,047.6	−0.067%	$687K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,047.4	−0.084%	$1.9M	$2.2M	10x	as long as short
Paradex MU-USD-PERP	+0.0051%	8h	1,047.4	−0.088%	$2K	—	5x	as long as short
Nado MU-PERP	+0.0055%	1h	1,047.1	−0.110%	$282K	$830K	10x	as long as short
Bullet MU-USD	+0.0065%	1h	1,047.8	−0.049%	$26K	$395K	10x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,047.2	−0.104%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,047.5	−0.077%	$148K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,047.7	−0.059%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,048.3	−0.001%	$71K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,047.7	−0.060%	$833	$799	20x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0113%	1h	1,047.5	−0.076%	$73K	$465K	10x	as long as short
Coinbase International MU-PERP-INTXshort	+0.0120%	1h	1,050	+0.165%	$757K	$1.2M	10x
Phoenix MU	+0.0305%	1h	1,048.4	+0.010%	$536K	$271K	15x	as long as short