Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0098%/8h= +10.7% APRpaid last 24h −0.032%

Price spread now: Aster against tradeXYZ+0.013%7-day average +0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$280.284% of the position

Long on tradeXYZ Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.172%−$17 on $10k

Price spread, last 7 days+0.020%+$2 · spread now +0.013%, 7d avg +0.069%

Together, before fees−0.153%+ Points / potential airdroptradeXYZ: Active · Aster: Stage 5 · farm board−$15 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 0.057% cheaper against tradeXYZ than usual: you would sell low and buy high (spread +0.013% now, against its 7-day average of +0.069%). If the spread goes back, that is −$6 on $10k: about 46 hours of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.172%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:MU	1,049.9	0.0050	pay 0.0006% / 1h	14m 14s	$178.2M	$99.6M	10x
Short	Aster MUUSD1	1,050	0.0148	get 0.0148% / 8h	6h 14m	$21.6M	$51.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against tradeXYZ. 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 tradeXYZbpFee AsterbpOrdersPrice spread, now +0.013%Rate

Funding earned: $20.54
Price spread: +0.013% → +0.069%: −$5.68
Slippage, 4 orders: −$2.38
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Aster: 4 bp × 2 orders: −$8
Net: −$13.52
Costs to cover: 0.284%
Break-even: 11.6 days

Slippage from tradeXYZ: live order book, 6 min ago; Aster: live order book, 5 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 tradeXYZ live order book, 6 min ago	0.95 bp	10.0 bp −$10	10.9 bp −$109	16.3 bp −$1,629	doesn't fit
Sell Aster live order book, 5 min ago	0.05 bp	4.4 bp −$4	19.3 bp −$193	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	−0.0876%	4h	1,049.5	−0.039%	$1.3M	$672K	10x	as long as short
Nado MU-PERP	−0.0004%	1h	1,049.7	−0.019%	$277K	$854K	10x	as long as short
Bybit MUUSDT	0.0000%	8h	1,050.4	+0.043%	$19.2M	$32.6M	100x	as long as short
Gate MU_USDT	0.0000%	8h	1,050	+0.006%	$62.0M	$27.7M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,049.6	−0.029%	$190K	$3.4M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,050.2	+0.025%	$25K	$394K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,051.4	+0.142%	$11K	$6.0M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,049.8	−0.013%	$66K	$342K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,049.7	−0.015%	$129K	$425K	50x	as long as short
Aftermath Perps MUUSD	+0.0017%	1h	1,049.7	−0.023%	$3K	$45K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MU	+0.0032%	1h	1,049.8	−0.006%	$1.1M	$4.8M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,049.8	−0.010%	$1.1M	$4.2M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,049.3	−0.060%	$567K	$1.1M	10x	as long as short
QFEX MU-USD	+0.0040%	1h	1,049.8	−0.009%	$7.4M	$19.3M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,049.7	−0.019%	$71K	$236K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,050.8	+0.085%	—	$175K	25x	as long as short
tradeXYZ xyz:MUlong	+0.0050%	1h	1,049.9	long leg	$178.2M	$99.6M	10x
Polymarket Perps MU-USD	+0.0050%	1h	1,049.8	−0.010%	$170K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,050	+0.005%	$689K	$16K	10x	as long as short
OKX MU-USDT-SWAP	+0.0050%	8h	1,050.2	+0.026%	$30.8M	$100.5M	50x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,049.3	−0.055%	$1.9M	$2.3M	10x	as long as short
GRVT MU_USDT_Perp	+0.0056%	8h	1,049.8	−0.008%	$81K	$1.3M	10x	as long as short
Paradex MU-USD-PERP	+0.0061%	8h	1,050.1	+0.022%	$2K	—	5x	as long as short
Pacifica MU	+0.0100%	1h	1,049.9	−0.005%	$149K	$187K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,049.8	−0.012%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,049.9	−0.004%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050.1	+0.019%	$835	$799	20x	as long as short
Injective MU/USDC PERP	+0.0107%	1h	1,051.4	+0.139%	$19K	$5K	12x	as long as short
Aevo MU-PERP	+0.0128%	1h	1,049.7	−0.019%	$32K	$1K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0128%	1h	1,050.3	+0.036%	$757K	$1.2M	10x	as long as short
Aster MUUSD1short	+0.0148%	8h	1,050	+0.013%	$21.6M	$51.7M	20x
Variational Omni MU	+0.0171%	8h	1,049.8	−0.009%	$2.7M	$2.4M	—	as long as short
Binance MUUSDT	+0.0188%	8h	1,050.1	+0.022%	$126.5M	$523.1M	50x	as long as short
Bitget MUUSDT	+0.0224%	8h	1,050.1	+0.020%	$20.6M	$41.9M	50x	as long as short
Phoenix MU	+0.0304%	1h	1,050.2	+0.029%	$537K	$273K	15x	as long as short
RISEx MU/USDC	+0.0507%	1h	1,050.2	+0.033%	$334K	$349K	20x	as long as short