Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0270%/8hnext payment −$0.34 per $10,000 · paid last 24h +0.023%

Price spread now: Bullet against Deribit+0.045%7-day average +0.036% · 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−$39as in the Price arb table

costs, in and out, $10k−$400.402% of the position

Long on Deribit Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.096%+$10 on $10k

Price spread, last 3 days (all we have)+0.015%+$1 · spread now +0.045%, 7d avg +0.036%

Together, before fees+0.110%+$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.036%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair paid +0.096%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MU_USDC-PERPETUAL	1,046.3	0.0352	pay 0.0044% / 1h	23m 08s	$55K	$150K	10x
Short	Bullet MU-USD	1,046.8	0.0082	get 0.0010% / 1h	23m 08s	$25K	$397K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet 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 BulletbpOrdersPrice spread, now +0.045%Rate

Funding earned: −$56.8
Price spread: +0.045% → +0.036%: $0.93
Slippage, 4 orders: −$25.25
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$96.12
Costs to cover: 0.402%
Break-even: never at this rate

Slippage from Deribit: live order book, 9 min ago; Bullet: live order book, 10 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, 9 min ago	6.88 bp	16.6 bp −$17	20.5 bp −$205	doesn't fit	doesn't fit
Sell Bullet live order book, 10 min ago	0.48 bp	6.2 bp −$6	20.6 bp −$206	doesn't fit	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	−0.0425%	4h	1,046.9	+0.053%	$1.3M	$673K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,046.9	+0.051%	$21.5M	$26.6M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,046.5	+0.014%	$125.5M	$519.7M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,046.6	+0.027%	$19.0M	$31.1M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,046.1	−0.021%	$30.9M	$101.3M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,047	+0.062%	$288K	$331K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,046.4	+0.003%	$63.7M	$28.0M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,046.4	+0.003%	$2.7M	$2.7M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,046.8	+0.042%	$83K	$1.2M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,046.4	+0.011%	$189K	$3.0M	20x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX MU-USDT	0.0000%	8h	1,048.2	+0.181%	$11K	$6.7M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,046.3	−0.008%	$125K	$443K	50x	as long as short
Bitget MUUSDT	+0.0023%	8h	1,046.1	−0.020%	$20.1M	$41.0M	50x	as long as short
Lighter RH MU	+0.0032%	1h	1,046.3	−0.004%	$1.1M	$4.3M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.419%	$14K	$302	12x	as long as short
Arcus MU-USD	+0.0041%	1h	1,046.4	+0.007%	$63K	$235K	10x	as long as short
QFEX MU-USD	+0.0045%	1h	1,046.7	+0.037%	$7.9M	$23.5M	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,046.9	+0.053%	—	$190K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,046.6	+0.026%	$166K	$177K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,046.3	−0.008%	$687K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,045.7	−0.065%	$1.9M	$2.6M	10x	as long as short
Paradex MU-USD-PERP	+0.0056%	8h	1,046.5	+0.012%	$2K	—	5x	as long as short
Lighter MU	+0.0072%	1h	1,046.5	+0.011%	$973K	$4.7M	20x	as long as short
Extended MU_24_5-USD	+0.0080%	1h	1,045.8	−0.053%	$526K	$1.0M	10x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,046.4	+0.004%	$33K	—	10x	as long as short
Bullet MU-USDshort	+0.0082%	1h	1,046.8	+0.045%	$25K	$397K	10x
Pacifica MU	+0.0100%	1h	1,046.5	+0.016%	$153K	$179K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,046.1	−0.018%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,046.8	+0.040%	$71K	$267K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,046.5	+0.020%	$832	$799	20x	as long as short
tradeXYZ xyz:MU	+0.0112%	1h	1,046.1	−0.022%	$178.7M	$98.5M	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0120%	1h	1,046.3	−0.003%	$769K	$1.7M	10x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,046.5	+0.016%	$1.5M	$2.0M	20x	as long as short
Nado MU-PERP	+0.0130%	1h	1,046	−0.033%	$334K	$797K	10x	as long as short
Aftermath Perps MUUSD	+0.0163%	1h	1,046.8	+0.048%	$3K	$44K	10x	as long as short
Phoenix MU	+0.0305%	1h	1,045.6	−0.070%	$529K	$219K	15x	as long as short
Deribit MU_USDC-PERPETUALlong	+0.0352%	1h	1,046.3	long leg	$55K	$150K	10x