Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0080%/8h= −8.8% APRpaid last 24h −0.060%

Price spread now: Gate against Coinbase International−0.004%50s7-day average +0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as 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−$360.362% of the position

Long on Coinbase International Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.361%−$36 on $10k

Price spread, last 4 days (all we have)+0.069%+$7 · spread now −0.004%, 7d avg +0.009%

Together, before fees−0.292%−$29 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.009%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MU-PERP-INTX	1,052.1	0.0080	pay 0.0010% / 1h	39m 24s	$758K	$1.2M	10x
Short	Gate MU_USDT	1,052.1	0	get 0.0000% / 8h	4h 39m	$62.3M	$27.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.004%Rate

Funding earned: −$16.8
Price spread: −0.004% → +0.009%: −$1.24
Slippage, 4 orders: −$11.19
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$54.23
Costs to cover: 0.362%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; Gate: live order book, 5 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, 4 min ago	1.90 bp	6.9 bp −$7	12.2 bp −$122	53.2 bp −$5,318	doesn't fit
Sell Gate live order book, 5 min ago	0.95 bp	10.9 bp −$11	15.9 bp −$159	35.0 bp −$3,499	60.3 bp −$30.1K

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	−0.0746%	4h	1,052.4	+0.024%	$1.3M	$671K	10x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,052.2	+0.009%	$31.2M	$99.8M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,052.1	−0.003%	$333K	$348K	20x	as long as short
Gate MU_USDTshort	0.0000%	8h	1,052.1	−0.004%	$62.3M	$27.4M	75x
GRVT MU_USDT_Perp	0.0000%	8h	1,052.6	+0.041%	$82K	$1.3M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,052	−0.013%	$190K	$3.4M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,054.3	+0.202%	$11K	$5.8M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,052.4	+0.021%	$69K	$416K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,052.3	+0.019%	$131K	$436K	50x	as long as short
Aster MUUSD1	+0.0005%	8h	1,052	−0.009%	$21.4M	$55.0M	20x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps MUUSD	+0.0017%	1h	1,052.3	+0.016%	$3K	$45K	10x	as long as short
Bybit MUUSDT	+0.0019%	8h	1,052.5	+0.034%	$19.1M	$32.3M	100x	as long as short
Lighter RH MU	+0.0032%	1h	1,052.1	0.000%	$1.3M	$4.4M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	−0.073%	$19K	$5K	12x	as long as short
Bullet MU-USD	+0.0034%	1h	1,052.3	+0.016%	$25K	$398K	10x	as long as short
QFEX MU-USD	+0.0034%	1h	1,052.1	−0.005%	$7.2M	$18.0M	10x	as long as short
Variational Omni MU	+0.0036%	8h	1,052.5	+0.033%	$2.7M	$2.4M	—	as long as short
Nado MU-PERP	+0.0040%	1h	1,051.8	−0.034%	$282K	$843K	10x	as long as short
Lighter MU	+0.0040%	1h	1,052.2	+0.004%	$1.1M	$5.1M	20x	as long as short
Extended MU_24_5-USD	+0.0040%	1h	1,051.6	−0.052%	$564K	$1.1M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,052	−0.009%	$71K	$234K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,053.4	+0.119%	—	$176K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,052	−0.012%	$171K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,052.1	−0.003%	$690K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,051.3	−0.076%	$1.9M	$2.2M	10x	as long as short
Paradex MU-USD-PERP	+0.0052%	8h	1,052.2	+0.004%	$2K	—	5x	as long as short
Binance MUUSDT	+0.0070%	8h	1,052.2	+0.004%	$126.8M	$517.1M	50x	as long as short
tradeXYZ xyz:MU	+0.0075%	1h	1,052.1	−0.003%	$178.9M	$99.0M	10x	as long as short
Coinbase International MU-PERP-INTXlong	+0.0080%	1h	1,052.1	long leg	$758K	$1.2M	10x
Aevo MU-PERP	+0.0096%	1h	1,052	−0.014%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,051.9	−0.021%	$148K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,051.9	−0.027%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,053	+0.086%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,051.9	−0.024%	$836	$799	20x	as long as short
Bitget MUUSDT	+0.0120%	8h	1,052.3	+0.014%	$20.6M	$41.1M	50x	as long as short
BloFin MU-USDT	+0.0193%	8h	1,052.6	+0.044%	$1.5M	$2.0M	20x	as long as short
Phoenix MU	+0.0304%	1h	1,052.6	+0.045%	$538K	$271K	15x	as long as short