Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 19:00 UTC−0.0079%/8hnext payment −$0.10 per $10,000 · paid last 24h −0.053%

Price spread now: Arcus against Coinbase International−0.335%7-day average −0.003% · you buy dearer than you sell

to open and close $10k−$32fees + slippage, both legs, in and out

costs, in % of the position0.322%what the two incomes have to cover

Long on Coinbase International Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.251%−$25 on $10k

Price spread, last 3 days (all we have)+0.397%+$40 · spread now −0.335%, 7d avg −0.003%

Together, before fees+0.146%+$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Arcus is 0.331% cheaper against Coinbase International than usual: you would sell low and buy high (−$33 if the spread goes back to its 7-day average of −0.003%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MU-PERP-INTX	1,049.1	0.0120	pay 0.0015% / 1h	52m 56s	$771K	$1.7M	10x
Short	Arcus MU-USD	1,045.6	0.0041	get 0.0005% / 1h	52m 56s	$63K	$235K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Coinbase InternationalbpFee ArcusbpOrdersPrice spread, now −0.335%Rate

Funding earned: −$16.63
Price spread: −0.335% → −0.003%: −$33.14
Slippage, 4 orders: −$17.74
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$82.01
Costs to cover: 0.322%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; Arcus: live order book, 42 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 Coinbase International live order book, 2 min ago	3.73 bp	10.0 bp −$10	14.5 bp −$145	41.0 bp −$4,099	doesn't fit
Sell Arcus live order book, 42 min ago	3.06 bp	6.4 bp −$6	7.6 bp −$76	55.5 bp −$5,546	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	−0.0919%	4h	1,046	−0.296%	$1.3M	$673K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,046.1	−0.285%	$21.4M	$26.7M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,046.6	−0.236%	—	$513.3M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,046.6	−0.234%	$18.0M	$30.2M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,046.6	−0.235%	$31.0M	$100.5M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,045.9	−0.306%	$288K	$328K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,045.6	−0.336%	$63.7M	$27.7M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,050.3	+0.120%	$2.7M	$2.7M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,046.1	−0.279%	$89K	$1.1M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,045.2	−0.371%	$189K	$2.9M	20x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet MU-USD	0.0000%	1h	1,045.9	−0.305%	$25K	$399K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,047	−0.194%	$11K	$6.7M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,045.7	−0.320%	$125K	$442K	50x	as long as short
Bitget MUUSDT	+0.0017%	8h	1,046.6	−0.233%	$20.1M	$40.6M	50x	as long as short
Lighter RH MU	+0.0032%	1h	1,046	−0.295%	$1.1M	$4.3M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,045.8	−0.314%	$526K	$1.0M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.156%	$14K	$302	12x	as long as short
Arcus MU-USDshort	+0.0041%	1h	1,045.6	−0.335%	$63K	$235K	10x
QFEX MU-USD	+0.0045%	1h	1,045.6	−0.327%	$7.9M	$23.2M	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,046.2	−0.270%	—	$190K	25x	as long as short
Lighter MU	+0.0048%	1h	1,046.2	−0.270%	$975K	$4.6M	20x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,046	−0.293%	$178.4M	$97.7M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,045.3	−0.359%	$164K	$175K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,045.7	−0.323%	$686K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,045.3	−0.362%	$1.9M	$2.6M	10x	as long as short
Paradex MU-USD-PERP	+0.0052%	8h	1,045.7	−0.317%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,045.4	−0.349%	$33K	—	10x	as long as short
Nado MU-PERP	+0.0082%	1h	1,045.2	−0.369%	$335K	$785K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,045.6	−0.333%	$149K	$166K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,045.5	−0.344%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,046	−0.297%	$71K	$267K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,045.9	−0.306%	$831	$799	20x	as long as short
Coinbase International MU-PERP-INTXlong	+0.0120%	1h	1,049.1	long leg	$771K	$1.7M	10x
BloFin MU-USDT	+0.0120%	8h	1,046.9	−0.203%	$1.5M	$1.8M	20x	as long as short
Aftermath Perps MUUSD	+0.0146%	1h	1,047.2	−0.181%	$3K	$44K	10x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0228%	1h	1,045.7	−0.325%	$55K	$145K	10x	as long as short
Phoenix MU	+0.0305%	1h	1,049.1	+0.003%	$531K	$219K	15x	as long as short