Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0142%/8h= +15.5% APRpaid last 24h −0.006%

Price spread now: BloFin against Coinbase International+0.078%7-day average +0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$340.342% of the position

Long on Coinbase International Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.037%+$4 on $10k

Price spread, last 3 days (all we have)−0.038%−$4 · spread now +0.078%, 7d avg +0.048%

Together, before fees−0.001%$0 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 BloFin is 0.029% dearer against Coinbase International than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MU-PERP-INTX	1,052.2	0.0184	pay 0.0023% / 1h	47m 12s	$762K	$1.3M	10x
Short	BloFin MU-USDT	1,053	0.0326	get 0.0326% / 8h	7h 47m	$1.5M	$2.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Coinbase International. 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 Coinbase InternationalbpFee BloFinbpOrdersPrice spread, now +0.078%Rate

Funding earned: $29.81
Price spread: +0.078% → +0.048%: $2.95
Slippage, 4 orders: −$12.19
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$1.43
Costs to cover: 0.342%
Break-even: 7.3 days

Slippage from Coinbase International: live order book, 1 min ago; BloFin: live order book, 6 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, 1 min ago	5.75 bp	11.3 bp −$11	16.1 bp −$161	47.5 bp −$4,747	doesn't fit
Sell BloFin live order book, 6 min ago	0.05 bp	6.0 bp −$6	7.1 bp −$71	13.7 bp −$1,372	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	−0.0892%	4h	1,050.2	−0.182%	$1.3M	$673K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,052.8	+0.062%	$63.1M	$28.5M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,050.6	−0.153%	$190K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,054.5	+0.225%	$11K	$6.3M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,052.8	+0.063%	$63K	$294K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,052.7	+0.049%	$130K	$426K	50x	as long as short
Aftermath Perps MUUSD	+0.0020%	1h	1,049.6	−0.246%	$3K	$45K	10x	as long as short
Lighter MU	+0.0032%	1h	1,052.9	+0.072%	$1.1M	$4.7M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,052.8	+0.062%	$1.2M	$4.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	−0.076%	$19K	$5K	12x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MU-USD-PERP	+0.0046%	1h	1,053.7	+0.146%	—	$195K	25x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,052.2	0.000%	$1.9M	$2.3M	10x	as long as short
QFEX MU-USD	+0.0054%	1h	1,053	+0.081%	$7.8M	$23.2M	10x	as long as short
Nado MU-PERP	+0.0059%	1h	1,052.8	+0.065%	$275K	$862K	10x	as long as short
OKX MU-USDT-SWAP	+0.0094%	8h	1,053	+0.079%	$30.9M	$102.4M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,053	+0.078%	$153K	$177K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,052.2	+0.005%	$5.3M	$3.6M	20x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,053	+0.079%	$837	$799	20x	as long as short
Paradex MU-USD-PERP	+0.0102%	8h	1,053.2	+0.101%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0128%	1h	1,052.7	+0.051%	$32K	$1K	10x	as long as short
Bybit MUUSDT	+0.0135%	8h	1,053.2	+0.097%	$19.2M	$32.6M	100x	as long as short
Variational Omni MU	+0.0177%	8h	1,049.9	−0.213%	$2.7M	$2.4M	—	as long as short
Coinbase International MU-PERP-INTXlong	+0.0184%	1h	1,052.2	long leg	$762K	$1.3M	10x
Aster MUUSD1	+0.0199%	8h	1,052.1	−0.002%	$21.6M	$47.8M	20x	as long as short
Binance MUUSDT	+0.0206%	8h	1,052.9	+0.073%	$126.2M	$526.7M	50x	as long as short
Polymarket Perps MU-USD	+0.0238%	1h	1,052.7	+0.051%	$170K	$202K	10x	as long as short
Arcus MU-USD	+0.0240%	1h	1,050.5	−0.163%	$71K	$242K	10x	as long as short
Bitget MUUSDT	+0.0241%	8h	1,053	+0.076%	$20.7M	$41.7M	50x	as long as short
RISEx MU/USDC	+0.0312%	1h	1,053	+0.076%	$317K	$339K	20x	as long as short
BloFin MU-USDTshort	+0.0326%	8h	1,053	+0.078%	$1.5M	$2.1M	20x
ApeX Omni MUUSDT	+0.0363%	1h	1,050.9	−0.120%	$71K	$267K	50x	as long as short
Phoenix MU	+0.0383%	1h	1,050.3	−0.177%	$537K	$306K	15x	as long as short
Bullet MU-USD	+0.0462%	1h	1,052.9	+0.070%	$26K	$394K	10x	as long as short
tradeXYZ xyz:MU	+0.0498%	1h	1,052.9	+0.070%	$178.6M	$101.5M	10x	as long as short
Extended MU_24_5-USD	+0.0512%	1h	1,052.3	+0.016%	$551K	$1.1M	10x	as long as short
SoDEX MU-USD	+0.0517%	1h	1,052.6	+0.042%	$691K	$16K	10x	as long as short
GRVT MU_USDT_Perp	+0.0707%	8h	1,050.8	−0.129%	$83K	$1.4M	10x	as long as short