Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0109%/8h= −11.9% APRpaid last 24h +0.012%

Price spread now: Deribit against Binance−0.012%7-day average −0.003% · 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−$39as in the Price arb table

costs, in and out, $10k−$380.383% of the position

Long on Binance Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.004%$0 on $10k

Price spread, last 2 days (all we have)−0.017%−$2 · spread now −0.012%, 7d avg −0.003%

Together, before fees−0.014%−$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.003%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MUUSDT	1,045.8	0.0213	pay 0.0213% / 8h	37m 55s	$124.7M	$533.0M	50x
Short	Deribit MU_USDC-PERPETUAL	1,045.7	0.0104	get 0.0013% / 1h	37m 55s	$62K	$263K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Binance. 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 BinancebpFee DeribitbpOrdersPrice spread, now −0.012%Rate

Funding earned: −$22.86
Price spread: −0.012% → −0.003%: −$0.88
Slippage, 4 orders: −$21.25
Fee Binance: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$62
Costs to cover: 0.383%
Break-even: never at this rate

Slippage from Binance: live order book, 6 min ago; Deribit: live order book, 41 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 Binance live order book, 6 min ago	0.05 bp	5.2 bp −$5	5.9 bp −$59	14.0 bp −$1,396	doesn't fit
Sell Deribit live order book, 41 min ago	0.05 bp	13.2 bp −$13	17.3 bp −$173	doesn't fit	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	−0.0600%	4h	1,046	+0.022%	$1.3M	$672K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,045.6	−0.021%	$63.0M	$29.0M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,045.5	−0.029%	$189K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,047.7	+0.176%	$11K	$6.5M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,045.5	−0.025%	$124K	$444K	50x	as long as short
Lighter RH MU	+0.0032%	1h	1,045.6	−0.021%	$1.2M	$4.2M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.469%	$14K	$302	12x	as long as short
Aftermath Perps MUUSD	+0.0034%	1h	1,045.7	−0.015%	$3K	$45K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,046.1	+0.024%	—	$194K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,045.5	−0.029%	$166K	$197K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX MU-USD	+0.0050%	1h	1,045.7	−0.015%	$686K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,044.9	−0.087%	$2.0M	$2.7M	10x	as long as short
QFEX MU-USD	+0.0080%	1h	1,045.8	−0.002%	$7.9M	$23.9M	10x	as long as short
OKX MU-USDT-SWAP	+0.0081%	8h	1,045.9	+0.006%	$30.8M	$105.2M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,045.9	+0.011%	$153K	$182K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,045.6	−0.021%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,045.6	−0.020%	$71K	$266K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,045.6	−0.019%	$831	$799	20x	as long as short
Deribit MU_USDC-PERPETUALshort	+0.0104%	1h	1,045.7	−0.012%	$62K	$263K	10x
Bitget MUUSDT	+0.0135%	8h	1,045.8	−0.003%	$20.5M	$43.6M	50x	as long as short
Aevo MU-PERP	+0.0136%	1h	1,045.6	−0.020%	$33K	—	10x	as long as short
Paradex MU-USD-PERP	+0.0143%	8h	1,045.7	−0.009%	$2K	—	5x	as long as short
Lighter MU	+0.0144%	1h	1,045.5	−0.029%	$997K	$4.8M	20x	as long as short
Aster MUUSD1	+0.0174%	8h	1,046.3	+0.050%	$21.6M	$47.3M	20x	as long as short
Bullet MU-USD	+0.0196%	1h	1,045.7	−0.007%	$24K	$394K	10x	as long as short
Variational Omni MU	+0.0202%	8h	1,046.1	+0.026%	$2.6M	$2.5M	—	as long as short
Binance MUUSDTlong	+0.0213%	8h	1,045.8	long leg	$124.7M	$533.0M	50x
Coinbase International MU-PERP-INTX	+0.0224%	1h	1,045.5	−0.032%	$757K	$1.4M	10x	as long as short
Nado MU-PERP	+0.0226%	1h	1,045.4	−0.043%	$270K	$877K	10x	as long as short
GRVT MU_USDT_Perp	+0.0255%	8h	1,046.3	+0.050%	$82K	$1.4M	10x	as long as short
tradeXYZ xyz:MU	+0.0269%	1h	1,045.7	−0.010%	$176.7M	$105.0M	10x	as long as short
Bybit MUUSDT	+0.0284%	8h	1,046	+0.021%	$19.2M	$32.6M	100x	as long as short
BloFin MU-USDT	+0.0333%	8h	1,046.1	+0.032%	$1.5M	$2.0M	20x	as long as short
Phoenix MU	+0.0460%	1h	1,046.4	+0.057%	$535K	$306K	15x	as long as short
Arcus MU-USD	+0.0462%	1h	1,045.6	−0.022%	$74K	$240K	10x	as long as short
RISEx MU/USDC	+0.0525%	1h	1,046.2	+0.033%	$316K	$339K	20x	as long as short
Extended MU_24_5-USD	+0.0648%	1h	1,045.2	−0.058%	$542K	$1.1M	10x	as long as short