Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h +0.028%

Price spread now: Coinbase International against Orderly+0.208%54s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Coinbase International is 0.208% dearer against Orderly than usual: you sell high and buy low: +$21 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 54 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	Orderly PERP_MU_USDC_mythos	1,047.9	0.0100	pay 0.0100% / 8h	3h 44m	$833	$799	20x
Short	Coinbase International MU-PERP-INTX	1,050	0.0120	get 0.0015% / 1h	44m 30s	$757K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Orderly. 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 OrderlybpFee Coinbase InternationalbpOrdersPrice spread, now +0.208%Rate

Funding earned: $4.2
Price spread: +0.208% → 0.000%: $20.8
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $9
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; Coinbase International: live order book, 4 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 4 min ago	0.05 bp	8.9 bp −$9	11.5 bp −$115	42.1 bp −$4,209	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0933%	4h	1,048.6	+0.073%	$1.3M	$673K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,048.3	+0.044%	$21.3M	$55.9M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,047.9	+0.004%	$125.6M	$517.8M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,047.9	+0.002%	$19.0M	$31.9M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,047.8	−0.001%	$31.1M	$99.6M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,048	+0.012%	$338K	$354K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,047.6	−0.022%	$62.3M	$27.6M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,047.8	−0.002%	$20.5M	$41.3M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,048.6	+0.069%	$2.7M	$2.4M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,048	+0.012%	$82K	$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	1,048.5	+0.058%	$190K	$3.4M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,048.5	+0.058%	$11K	$5.8M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,047.4	−0.040%	$130K	$431K	50x	as long as short
BloFin MU-USDT	+0.0003%	8h	1,048.3	+0.038%	$1.5M	$2.0M	20x	as long as short
Aftermath Perps MUUSD	+0.0024%	1h	1,048	+0.018%	$3K	$44K	10x	as long as short
QFEX MU-USD	+0.0032%	1h	1,047.4	−0.039%	$7.1M	$17.8M	10x	as long as short
Lighter MU	+0.0032%	1h	1,047.7	−0.017%	$1.1M	$5.1M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,047.6	−0.028%	$1.3M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,047	−0.079%	$553K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.335%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,048.1	+0.024%	$71K	$233K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,048.4	+0.049%	—	$176K	25x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0046%	1h	1,047.7	−0.011%	$73K	$463K	10x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,047.3	−0.052%	$177.6M	$97.4M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,047.4	−0.043%	$170K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,048	+0.016%	$688K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,047.4	−0.041%	$1.9M	$2.2M	10x	as long as short
Paradex MU-USD-PERP	+0.0051%	8h	1,047.9	+0.009%	$2K	—	5x	as long as short
Nado MU-PERP	+0.0054%	1h	1,047.7	−0.014%	$282K	$830K	10x	as long as short
Bullet MU-USD	+0.0061%	1h	1,047.9	+0.003%	$26K	$394K	10x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,047.6	−0.023%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,047.8	−0.003%	$148K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,047.7	−0.013%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,048.1	+0.022%	$71K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythoslong	+0.0100%	8h	1,047.9	long leg	$833	$799	20x
Coinbase International MU-PERP-INTXshort	+0.0120%	1h	1,050	+0.208%	$757K	$1.2M	10x
Phoenix MU	+0.0305%	1h	1,048.5	+0.062%	$536K	$271K	15x	as long as short