Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0879%/8h= −96.2% APRpaid last 24h −0.038%

Price spread now: edgeX against Coinbase International−0.013%77s7-day average +0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs+$23as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$260.260% of the position

Long on Coinbase International Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.488%+$49 on $10k

Price spread, last 4 days (all we have)+0.066%+$7 · spread now −0.013%, 7d avg +0.027%

Together, before fees+0.554%+ Points / potential airdropedgeX: Active · farm board+$55 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$26 a day on $10k at the current rate, and edgeX is 0.040% cheaper against Coinbase International than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.027%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.488%, so the current rate has only just turned against you. The two prices were read 77 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.488% in total (about 25.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MU-PERP-INTX	1,038.3	0.0080	pay 0.0010% / 1h	10m 08s	$726K	$1.2M	10x
Short	edgeX MUUSDC	1,038.2	−0.0799	pay 0.0399% / 4h	10m 08s	$1.3M	$674K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.013%Rate

Funding earned: −$184.5
Price spread: −0.013% → +0.027%: −$4.02
Slippage, 4 orders: −$7.02
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$214.54
Costs to cover: 0.260%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; edgeX: live order book, 4 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, 3 min ago	2.12 bp	8.3 bp −$8	12.2 bp −$122	34.4 bp −$3,443	doesn't fit
Sell edgeX live order book, 4 min ago	0.38 bp	5.0 bp −$5	6.9 bp −$69	28.7 bp −$2,870	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 MUUSDCshort	−0.0799%	4h	1,038.2	−0.013%	$1.3M	$674K	10x
Bitget MUUSDT	−0.0153%	8h	1,038.8	+0.039%	$20.2M	$39.9M	50x	as long as short
Aster MUUSD1	0.0000%	8h	1,038.7	+0.030%	$21.2M	$67.0M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,038.6	+0.027%	$122.4M	$537.2M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,038.5	+0.017%	$18.8M	$32.3M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,038.6	+0.024%	$29.8M	$100.2M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,038.3	−0.005%	$313K	$384K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,038.3	−0.001%	$61.6M	$28.4M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,037.8	−0.056%	$2.5M	$2.6M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,038.7	+0.032%	$71K	$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	1,038	−0.034%	$188K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,040.1	+0.172%	$11K	$5.5M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,038.3	−0.003%	$74K	$617K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,038.4	+0.009%	$126K	$481K	50x	as long as short
Bullet MU-USD	+0.0006%	1h	1,038.6	+0.024%	$25K	$388K	10x	as long as short
Nado MU-PERP	+0.0014%	1h	1,037.9	−0.042%	$280K	$804K	10x	as long as short
Aftermath Perps MUUSD	+0.0019%	1h	1,038.2	−0.014%	$3K	$44K	10x	as long as short
QFEX MU-USD	+0.0021%	1h	1,038	−0.038%	$7.0M	$18.7M	10x	as long as short
Lighter MU	+0.0032%	1h	1,038.6	+0.026%	$1.0M	$4.9M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,038.5	+0.015%	$1.1M	$4.5M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,037.9	−0.045%	$545K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.254%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,037.6	−0.069%	$90K	$244K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,038.3	0.000%	—	$175K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,038.3	−0.004%	$176.4M	$81.5M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,038	−0.033%	$168K	$177K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,038.1	−0.019%	$681K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,038	−0.029%	$1.8M	$2.7M	10x	as long as short
Paradex MU-USD-PERP	+0.0050%	8h	1,037.8	−0.051%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,038.1	−0.026%	$32K	$1K	10x	as long as short
Coinbase International MU-PERP-INTXlong	+0.0080%	1h	1,038.3	long leg	$726K	$1.2M	10x
Pacifica MU	+0.0100%	1h	1,037.6	−0.070%	$144K	$192K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,038.2	−0.016%	$5.2M	$4.1M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,038.7	+0.037%	$70K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,038.5	+0.018%	$826	$799	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,038	−0.038%	$1.5M	$2.1M	20x	as long as short
Phoenix MU	+0.0232%	1h	1,038.9	+0.054%	$531K	$270K	15x	as long as short