Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0172%/8h= +18.9% APRpaid last 24h +0.018%

Price spread now: Deribit against Bybit−0.031%7-day average −0.025% · 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−$42as in the Price arb table

costs, in and out, $10k−$420.416% of the position

Long on Bybit Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.011%+$1 on $10k

Price spread, last 4 days (all we have)−0.026%−$3 · spread now −0.031%, 7d avg −0.025%

Together, before fees−0.015%−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.025%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MUUSDT	1,042.6	0	get 0.0000% / 8h	3h 07m	$18.6M	$31.9M	100x
Short	Deribit MU_USDC-PERPETUAL	1,042.3	0.0172	get 0.0022% / 1h	7m 06s	$73K	$490K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Bybit. 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 BybitbpFee DeribitbpOrdersPrice spread, now −0.031%Rate

Funding earned: $36.19
Price spread: −0.031% → −0.025%: −$0.59
Slippage, 4 orders: −$23.59
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$5.99
Costs to cover: 0.416%
Break-even: 8.2 days

Slippage from Bybit: live order book, 2 min ago; Deribit: live order book, 47 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 Bybit live order book, 2 min ago	0.29 bp	6.9 bp −$7	11.8 bp −$118	35.8 bp −$3,583	doesn't fit
Sell Deribit live order book, 47 min ago	4.53 bp	9.1 bp −$9	13.6 bp −$136	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	−0.0615%	4h	1,042.3	−0.026%	$1.3M	$672K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,042.6	+0.002%	$21.2M	$56.8M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,042.4	−0.018%	$123.2M	$525.3M	50x	as long as short
Bybit MUUSDTlong	0.0000%	8h	1,042.6	long leg	$18.6M	$31.9M	100x
OKX MU-USDT-SWAP	0.0000%	8h	1,042.6	−0.006%	$30.7M	$99.6M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,042.5	−0.006%	$336K	$353K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,042.2	−0.041%	$61.9M	$28.0M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,042.5	−0.012%	$20.5M	$41.6M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,042.5	−0.007%	$2.7M	$2.4M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,042.3	−0.031%	$83K	$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	1,041.8	−0.077%	$188K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,044.1	+0.140%	$11K	$5.8M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,042.2	−0.041%	$129K	$435K	50x	as long as short
Aftermath Perps MUUSD	+0.0024%	1h	1,042.7	+0.008%	$3K	$44K	10x	as long as short
Nado MU-PERP	+0.0030%	1h	1,042.3	−0.027%	$281K	$824K	10x	as long as short
QFEX MU-USD	+0.0032%	1h	1,042.4	−0.016%	$7.0M	$18.0M	10x	as long as short
Lighter MU	+0.0032%	1h	1,042.4	−0.024%	$1.1M	$5.1M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,042.3	−0.033%	$1.3M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,041.7	−0.092%	$555K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.839%	$19K	$5K	12x	as long as short
Bullet MU-USD	+0.0035%	1h	1,042.5	−0.015%	$25K	$392K	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,042.6	0.000%	$70K	$232K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,042.6	−0.004%	—	$176K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,042	−0.059%	$177.2M	$94.9M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,042.3	−0.030%	$169K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,042.3	−0.035%	$684K	$16K	10x	as long as short
Paradex MU-USD-PERP	+0.0050%	8h	1,042.6	−0.003%	$2K	—	5x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,041.8	−0.081%	$1.8M	$2.3M	10x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,041.9	−0.070%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,042.3	−0.025%	$147K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,042.1	−0.045%	$5.2M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,042.1	−0.047%	$71K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,042.2	−0.040%	$829	$799	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0120%	1h	1,044.6	+0.191%	$749K	$1.2M	10x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,042.5	−0.015%	$1.5M	$2.0M	20x	as long as short
Deribit MU_USDC-PERPETUALshort	+0.0172%	1h	1,042.3	−0.031%	$73K	$490K	10x
Phoenix MU	+0.0305%	1h	1,042.6	−0.001%	$533K	$271K	15x	as long as short