Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.011%

Price spread now: KuCoin against Deribit+0.050%7-day average −0.017% · 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−$47as in the Price arb table

costs, in and out, $10k−$540.536% of the position

Long on Deribit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.007%+$1 on $10k

Price spread, last 3 days (all we have)−0.031%−$3 · spread now +0.050%, 7d avg −0.017%

Together, before fees−0.024%−$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and KuCoin is 0.066% dearer against Deribit than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MU_USDC-PERPETUAL	1,048.2	0	get 0.0000% / 1h	36m 56s	$66K	$328K	10x
Short	KuCoin MUUSDTM	1,048.7	0.0100	get 0.0100% / 8h	6h 36m	$5.3M	$3.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.050%Rate

Funding earned: $21
Price spread: +0.050% → −0.017%: $6.65
Slippage, 4 orders: −$34.56
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$25.91
Costs to cover: 0.536%
Break-even: 15.6 days

Slippage from Deribit: live order book, 32 min ago; KuCoin: live order book, 6 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, 32 min ago	3.09 bp	12.8 bp −$13	14.8 bp −$148	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	2.67 bp	14.1 bp −$14	33.6 bp −$336	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	−0.0949%	4h	1,048.4	+0.026%	$1.3M	$671K	10x	as long as short
Nado MU-PERP	−0.0007%	1h	1,049	+0.079%	$274K	$858K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,048.5	+0.031%	$62.1M	$27.6M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,048.7	+0.054%	$190K	$3.4M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,048.9	+0.067%	$26K	$395K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,050.1	+0.183%	$11K	$6.0M	10x	as long as short
Deribit MU_USDC-PERPETUALlong	0.0000%	1h	1,048.2	long leg	$66K	$328K	10x
HTX MU-USDT	0.0000%	8h	1,048.5	+0.029%	$129K	$429K	50x	as long as short
Bybit MUUSDT	+0.0003%	8h	1,048.9	+0.069%	$19.2M	$32.6M	100x	as long as short
Aftermath Perps MUUSD	+0.0021%	1h	1,048.9	+0.065%	$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
Lighter MU	+0.0032%	1h	1,048.4	+0.024%	$1.1M	$4.8M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,048.4	+0.025%	$1.1M	$4.1M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,048.3	+0.015%	$567K	$1.2M	10x	as long as short
QFEX MU-USD	+0.0040%	1h	1,048.9	+0.068%	$7.5M	$20.1M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,048.8	+0.059%	$71K	$237K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,049.8	+0.159%	—	$176K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,048.4	+0.022%	$178.0M	$99.9M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,048.6	+0.041%	$170K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,048.5	+0.027%	$688K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,047.9	−0.029%	$1.9M	$2.4M	10x	as long as short
Paradex MU-USD-PERP	+0.0068%	8h	1,049.3	+0.103%	$2K	—	5x	as long as short
OKX MU-USDT-SWAP	+0.0071%	8h	1,048.5	+0.033%	$30.8M	$100.6M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,048.9	+0.072%	$148K	$186K	10x	as long as short
KuCoin MUUSDTMshort	+0.0100%	8h	1,048.7	+0.050%	$5.3M	$3.5M	20x
ApeX Omni MUUSDT	+0.0100%	1h	1,048.6	+0.044%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,048.8	+0.056%	$834	$799	20x	as long as short
Injective MU/USDC PERP	+0.0107%	1h	1,051.4	+0.304%	$19K	$5K	12x	as long as short
Coinbase International MU-PERP-INTX	+0.0128%	1h	1,048.1	−0.009%	$759K	$1.2M	10x	as long as short
Aevo MU-PERP	+0.0136%	1h	1,048.4	+0.020%	$32K	$1K	10x	as long as short
GRVT MU_USDT_Perp	+0.0158%	8h	1,049	+0.076%	$81K	$1.3M	10x	as long as short
Aster MUUSD1	+0.0207%	8h	1,048.9	+0.067%	$21.6M	$50.1M	20x	as long as short
Variational Omni MU	+0.0219%	8h	1,049	+0.083%	$2.7M	$2.4M	—	as long as short
Binance MUUSDT	+0.0223%	8h	1,048.7	+0.050%	$126.8M	$524.7M	50x	as long as short
Bitget MUUSDT	+0.0285%	8h	1,048.8	+0.057%	$20.3M	$41.9M	50x	as long as short
Phoenix MU	+0.0304%	1h	1,049.2	+0.098%	$537K	$273K	15x	as long as short
BloFin MU-USDT	+0.0368%	8h	1,049.8	+0.156%	$1.5M	$2.0M	20x	as long as short
RISEx MU/USDC	+0.0507%	1h	1,049.2	+0.095%	$333K	$348K	20x	as long as short