Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0069%/8h= −7.5% APRpaid last 24h +0.030%

Price spread now: Bullet against OKX+0.009%7-day average +0.014% · 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−$27as in the Price arb table

costs, in and out, $10k−$260.262% of the position

Long on OKX Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.083%+$8 on $10k

Price spread, last 4 days (all we have)−0.114%−$11 · spread now +0.009%, 7d avg +0.014%

Together, before fees−0.031%−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.014%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair paid +0.083%, 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	OKX MU-USDT-SWAP	1,049	0.0069	pay 0.0069% / 8h	6h 34m	$30.8M	$100.7M	50x
Short	Bullet MU-USD	1,049.1	0	get 0.0000% / 1h	34m 58s	$26K	$395K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against OKX. 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 OKXbpFee BulletbpOrdersPrice spread, now +0.009%Rate

Funding earned: −$14.4
Price spread: +0.009% → +0.014%: −$0.52
Slippage, 4 orders: −$8.16
Fee OKX: 5 bp × 2 orders: −$10
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$41.08
Costs to cover: 0.262%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Bullet: live order book, 34 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 OKX live order book, 4 min ago	0.05 bp	5.2 bp −$5	7.0 bp −$70	22.9 bp −$2,292	doesn't fit
Sell Bullet live order book, 34 min ago	1.43 bp	8.3 bp −$8	20.9 bp −$209	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	−0.054%	$1.3M	$671K	10x	as long as short
Nado MU-PERP	−0.0006%	1h	1,049	−0.002%	$274K	$858K	10x	as long as short
Bybit MUUSDT	0.0000%	8h	1,049.6	+0.060%	$19.2M	$32.6M	100x	as long as short
Gate MU_USDT	0.0000%	8h	1,049	−0.001%	$62.1M	$27.6M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,048.8	−0.025%	$190K	$3.4M	20x	as long as short
Bullet MU-USDshort	0.0000%	1h	1,049.1	+0.009%	$26K	$395K	10x
SunX MU-USDT	0.0000%	8h	1,050.1	+0.108%	$11K	$6.0M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,048.6	−0.037%	$66K	$329K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,048.9	−0.012%	$129K	$430K	50x	as long as short
Aftermath Perps MUUSD	+0.0020%	1h	1,048.8	−0.019%	$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	1,048.9	−0.012%	$1.1M	$4.8M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,048.9	−0.014%	$1.1M	$4.2M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,048.4	−0.054%	$567K	$1.2M	10x	as long as short
QFEX MU-USD	+0.0040%	1h	1,049	−0.006%	$7.5M	$20.0M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,048.8	−0.018%	$71K	$237K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,050	+0.095%	—	$176K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,049	−0.001%	$178.1M	$99.9M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,048.8	−0.020%	$170K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,048.9	−0.012%	$688K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,048.4	−0.058%	$1.9M	$2.4M	10x	as long as short
Paradex MU-USD-PERP	+0.0067%	8h	1,049.3	+0.028%	$2K	—	5x	as long as short
OKX MU-USDT-SWAPlong	+0.0069%	8h	1,049	long leg	$30.8M	$100.7M	50x
Pacifica MU	+0.0100%	1h	1,048.9	−0.011%	$148K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,048.9	−0.014%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,048.9	−0.013%	$71K	$267K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,048.9	−0.008%	$834	$799	20x	as long as short
Injective MU/USDC PERP	+0.0107%	1h	1,051.4	+0.224%	$19K	$5K	12x	as long as short
Coinbase International MU-PERP-INTX	+0.0128%	1h	1,048.1	−0.089%	$759K	$1.2M	10x	as long as short
Aevo MU-PERP	+0.0136%	1h	1,048.7	−0.032%	$32K	$1K	10x	as long as short
GRVT MU_USDT_Perp	+0.0158%	8h	1,049	−0.004%	$81K	$1.3M	10x	as long as short
Aster MUUSD1	+0.0200%	8h	1,049.2	+0.016%	$21.6M	$50.1M	20x	as long as short
Variational Omni MU	+0.0204%	8h	1,049.1	+0.008%	$2.7M	$2.4M	—	as long as short
Binance MUUSDT	+0.0218%	8h	1,049.3	+0.031%	$126.9M	$525.0M	50x	as long as short
Bitget MUUSDT	+0.0274%	8h	1,049.4	+0.041%	$20.3M	$41.9M	50x	as long as short
Phoenix MU	+0.0304%	1h	1,049.2	+0.018%	$537K	$273K	15x	as long as short
BloFin MU-USDT	+0.0368%	8h	1,049.8	+0.076%	$1.5M	$2.0M	20x	as long as short
RISEx MU/USDC	+0.0507%	1h	1,049.2	+0.015%	$333K	$348K	20x	as long as short