Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0373%/8h= −40.9% APRpaid last 24h −0.028%

Price spread now: edgeX against Deribit+0.125%75s7-day average +0.013% · 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—prices read too far apart to compare

costs, in and out, $10k−$360.361% of the position

Long on Deribit Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.290%+$29 on $10k

Price spread, last 4 days (all we have)−0.066%−$7 · spread now +0.125%, 7d avg +0.013%

Together, before fees+0.224%+ Points / potential airdropedgeX: Active · farm board+$22 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.112% dearer against Deribit than usual: you sell high and buy low (spread +0.125% now, against its 7-day average of +0.013%): +$11 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 24 hours. Mind the row above: over the last 4 days funding on this pair paid +0.290%, so the current rate has only just turned against you. The two prices were read 75 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	Deribit MU_USDC-PERPETUAL	1,040.8	0	get 0.0000% / 1h	44m 22s	$73K	$503K	10x
Short	edgeX MUUSDC	1,042.1	−0.0373	pay 0.0187% / 4h	2h 44m	$1.3M	$673K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.125%Rate

Funding earned: −$78.43
Price spread: +0.125% → +0.013%: $11.22
Slippage, 4 orders: −$20.05
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$103.27
Costs to cover: 0.361%
Break-even: never at this rate

Slippage from Deribit: live order book, 4 min ago; edgeX: 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 Deribit live order book, 4 min ago	3.65 bp	16.7 bp −$17	20.6 bp −$206	doesn't fit	doesn't fit
Sell edgeX live order book, 5 min ago	0.38 bp	5.0 bp −$5	6.8 bp −$68	27.9 bp −$2,790	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	−0.0373%	4h	1,042.1	+0.125%	$1.3M	$673K	10x
Aster MUUSD1	0.0000%	8h	1,041.5	+0.066%	$21.2M	$57.2M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,041	+0.024%	$122.6M	$525.5M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,041.3	+0.045%	$18.5M	$32.0M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,041	+0.020%	$30.4M	$99.7M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,041.4	+0.059%	$336K	$354K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,041.1	+0.029%	$61.8M	$28.0M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,041.3	+0.045%	$20.4M	$41.0M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,042	+0.112%	$2.7M	$2.4M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,042.2	+0.138%	$83K	$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	1,042.5	+0.164%	$188K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,042.5	+0.167%	$11K	$5.7M	10x	as long as short
Deribit MU_USDC-PERPETUALlong	0.0000%	1h	1,040.8	long leg	$73K	$503K	10x
HTX MU-USDT	0.0000%	8h	1,040.7	−0.005%	$128K	$448K	50x	as long as short
Nado MU-PERP	+0.0007%	1h	1,041	+0.024%	$280K	$820K	10x	as long as short
Bullet MU-USD	+0.0011%	1h	1,041.2	+0.042%	$25K	$391K	10x	as long as short
Aftermath Perps MUUSD	+0.0020%	1h	1,041.9	+0.104%	$3K	$44K	10x	as long as short
QFEX MU-USD	+0.0023%	1h	1,041.4	+0.057%	$7.0M	$17.9M	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,041.4	+0.055%	$1.2M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,040.7	−0.008%	$546K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.016%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,041.9	+0.103%	$70K	$232K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,041.7	+0.091%	—	$175K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,040.9	+0.011%	$176.9M	$93.6M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,041	+0.020%	$169K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,041	+0.020%	$683K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,041.5	+0.071%	$1.9M	$2.3M	10x	as long as short
Paradex MU-USD-PERP	+0.0051%	8h	1,041.5	+0.072%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,040.8	−0.003%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,041.2	+0.042%	$147K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,041.2	+0.040%	$5.2M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,042.3	+0.145%	$71K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,041	+0.022%	$828	$799	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,041.8	+0.093%	$1.5M	$2.0M	20x	as long as short
Lighter MU	+0.0128%	1h	1,041.6	+0.075%	$1.1M	$4.9M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0144%	1h	1,043.3	+0.243%	$745K	$1.2M	10x	as long as short
Phoenix MU	+0.0231%	1h	1,043.3	+0.241%	$534K	$270K	15x	as long as short