Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: SoDEX against KuCoin+0.003%53s7-day average +0.021% · 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−$500.504% of the position

Long on KuCoin Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.001%$0 on $10k

Price spread, last 3 days (all we have)−0.018%−$2 · spread now +0.003%, 7d avg +0.021%

Together, before fees−0.017%−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.021%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. The two prices were read 53 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	KuCoin MUUSDTM	1,049.8	0.0100	pay 0.0100% / 8h	6h 14m	$5.3M	$3.5M	20x
Short	SoDEX MU-USD	1,049.8	0.0050	get 0.0006% / 1h	14m 25s	$689K	$16K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against KuCoin. 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 KuCoinbpFee SoDEXbpOrdersPrice spread, now +0.003%Rate

Funding earned: −$10.5
Price spread: +0.003% → +0.021%: −$1.83
Slippage, 4 orders: −$30.35
Fee KuCoin: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$62.69
Costs to cover: 0.504%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; SoDEX: live order book, 54 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 KuCoin live order book, 3 min ago	2.86 bp	15.1 bp −$15	515.6 bp −$5,156	doesn't fit	doesn't fit
Sell SoDEX live order book, 54 min ago	0.05 bp	11.9 bp −$12	41.5 bp −$415	doesn't fit	doesn't fit

MU on 36 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	−0.0876%	4h	1,049.5	−0.027%	$1.3M	$672K	10x	as long as short
Nado MU-PERP	−0.0004%	1h	1,049.7	−0.007%	$277K	$854K	10x	as long as short
Bybit MUUSDT	0.0000%	8h	1,050.2	+0.045%	$19.2M	$32.6M	100x	as long as short
Gate MU_USDT	0.0000%	8h	1,050	+0.020%	$62.0M	$27.7M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,049.6	−0.016%	$190K	$3.4M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,050.2	+0.038%	$25K	$394K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,051.1	+0.131%	$11K	$6.0M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,049.7	−0.008%	$66K	$341K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,050.1	+0.030%	$129K	$425K	50x	as long as short
Aftermath Perps MUUSD	+0.0017%	1h	1,049.7	−0.011%	$3K	$45K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MU	+0.0032%	1h	1,050	+0.018%	$1.1M	$4.8M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,049.9	+0.013%	$1.1M	$4.2M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,049.3	−0.048%	$567K	$1.1M	10x	as long as short
QFEX MU-USD	+0.0040%	1h	1,049.8	+0.004%	$7.4M	$19.3M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,049.7	−0.007%	$71K	$236K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,050.8	+0.097%	—	$175K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,049.9	+0.012%	$178.2M	$99.6M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,049.8	+0.003%	$170K	$202K	10x	as long as short
SoDEX MU-USDshort	+0.0050%	1h	1,049.8	+0.003%	$689K	$16K	10x
Ondo Perps MU-USD.P	+0.0050%	1h	1,049.3	−0.043%	$1.9M	$2.3M	10x	as long as short
OKX MU-USDT-SWAP	+0.0050%	8h	1,050.1	+0.030%	$30.8M	$100.5M	50x	as long as short
GRVT MU_USDT_Perp	+0.0056%	8h	1,049.8	+0.004%	$81K	$1.3M	10x	as long as short
Paradex MU-USD-PERP	+0.0061%	8h	1,050.1	+0.035%	$2K	—	5x	as long as short
Pacifica MU	+0.0100%	1h	1,049.9	+0.008%	$149K	$187K	10x	as long as short
KuCoin MUUSDTMlong	+0.0100%	8h	1,049.8	long leg	$5.3M	$3.5M	20x
ApeX Omni MUUSDT	+0.0100%	1h	1,049.9	+0.009%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050	+0.023%	$835	$799	20x	as long as short
Injective MU/USDC PERP	+0.0107%	1h	1,051.4	+0.151%	$19K	$5K	12x	as long as short
Aevo MU-PERP	+0.0128%	1h	1,049.6	−0.015%	$32K	$1K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0128%	1h	1,050.3	+0.049%	$757K	$1.2M	10x	as long as short
Aster MUUSD1	+0.0148%	8h	1,050	+0.017%	$21.6M	$51.7M	20x	as long as short
Variational Omni MU	+0.0171%	8h	1,049.8	+0.003%	$2.7M	$2.4M	—	as long as short
Binance MUUSDT	+0.0188%	8h	1,050.1	+0.030%	$126.4M	$523.0M	50x	as long as short
Bitget MUUSDT	+0.0224%	8h	1,050.1	+0.032%	$20.6M	$41.9M	50x	as long as short
Phoenix MU	+0.0304%	1h	1,050.2	+0.041%	$537K	$273K	15x	as long as short
RISEx MU/USDC	+0.0507%	1h	1,050.2	+0.045%	$334K	$349K	20x	as long as short