Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0130%/8h= +14.2% APRpaid last 24h −0.016%

Price spread now: Binance against Deribit+0.047%7-day average +0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$390.389% of the position

Long on Deribit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.061%+$6 · spread now +0.047%, 7d avg +0.007%

Together, before fees+0.063%+$6 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 Binance is 0.039% dearer against Deribit than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MU_USDC-PERPETUAL	1,049.9	0	get 0.0000% / 1h	26m 32s	$67K	$374K	10x
Short	Binance MUUSDT	1,050.4	0.0130	get 0.0130% / 8h	5h 26m	$126.5M	$518.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Deribit. 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 DeribitbpFee BinancebpOrdersPrice spread, now +0.047%Rate

Funding earned: $27.28
Price spread: +0.047% → +0.007%: $3.94
Slippage, 4 orders: −$21.9
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$7.68
Costs to cover: 0.389%
Break-even: 9.0 days

Slippage from Deribit: live order book, 37 min ago; Binance: live order book, 2 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 Deribit live order book, 37 min ago	5.62 bp	11.9 bp −$12	15.1 bp −$151	doesn't fit	doesn't fit
Sell Binance live order book, 2 min ago	0.05 bp	5.3 bp −$5	6.4 bp −$64	14.6 bp −$1,460	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	−0.0521%	4h	1,050.6	+0.067%	$1.3M	$670K	10x	as long as short
Bybit MUUSDT	0.0000%	8h	1,050.4	+0.050%	$19.1M	$32.3M	100x	as long as short
RISEx MU/USDC	0.0000%	1h	1,050.5	+0.059%	$333K	$348K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,050	+0.017%	$62.0M	$27.5M	75x	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,050.6	+0.073%	$85K	$1.3M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,049.8	−0.002%	$190K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,051.9	+0.190%	$11K	$5.9M	10x	as long as short
Deribit MU_USDC-PERPETUALlong	0.0000%	1h	1,049.9	long leg	$67K	$374K	10x
HTX MU-USDT	0.0000%	8h	1,050	+0.010%	$129K	$429K	50x	as long as short
Aftermath Perps MUUSD	+0.0020%	1h	1,050.1	+0.020%	$3K	$45K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX MU-USDT-SWAP	+0.0022%	8h	1,050.4	+0.050%	$31.0M	$99.8M	50x	as long as short
QFEX MU-USD	+0.0030%	1h	1,050	+0.016%	$7.2M	$18.1M	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,050.1	+0.021%	$1.2M	$4.3M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.143%	$19K	$5K	12x	as long as short
Extended MU_24_5-USD	+0.0040%	1h	1,049.6	−0.029%	$564K	$1.1M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,050.1	+0.018%	$71K	$235K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,051.1	+0.116%	—	$175K	25x	as long as short
Lighter MU	+0.0048%	1h	1,050.3	+0.039%	$1.1M	$4.9M	20x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,050	+0.013%	$170K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,050	+0.010%	$689K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,049.8	−0.003%	$1.9M	$2.3M	10x	as long as short
Nado MU-PERP	+0.0054%	1h	1,049.9	+0.002%	$282K	$848K	10x	as long as short
Paradex MU-USD-PERP	+0.0056%	8h	1,050.2	+0.035%	$2K	—	5x	as long as short
tradeXYZ xyz:MU	+0.0059%	1h	1,050.1	+0.023%	$178.1M	$99.2M	10x	as long as short
Aster MUUSD1	+0.0066%	8h	1,050.3	+0.045%	$21.4M	$52.7M	20x	as long as short
Bullet MU-USD	+0.0071%	1h	1,050.1	+0.023%	$25K	$398K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0096%	1h	1,049.9	+0.008%	$756K	$1.2M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,050.2	+0.032%	$149K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,050.1	+0.020%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,050.8	+0.090%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050	+0.014%	$835	$799	20x	as long as short
Variational Omni MU	+0.0111%	8h	1,050.9	+0.100%	$2.7M	$2.4M	—	as long as short
Aevo MU-PERP	+0.0112%	1h	1,049.7	−0.013%	$32K	$1K	10x	as long as short
Bitget MUUSDT	+0.0121%	8h	1,050.3	+0.041%	$20.6M	$41.1M	50x	as long as short
Binance MUUSDTshort	+0.0130%	8h	1,050.4	+0.047%	$126.5M	$518.7M	50x
Phoenix MU	+0.0229%	1h	1,050.6	+0.070%	$537K	$271K	15x	as long as short
BloFin MU-USDT	+0.0253%	8h	1,050.1	+0.026%	$1.5M	$2.0M	20x	as long as short