Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0080%/8h= +8.8% APRpaid last 24h +0.060%

Price spread now: Coinbase International against SunX+0.072%7-day average −0.182% · you sell dearer than you buy

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$750.750% of the position

Long on SunX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.361%+$36 on $10k

Price spread, last 4 days (all we have)−0.154%−$15 · spread now +0.072%, 7d avg −0.182%

Together, before fees+0.207%+$21 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Coinbase International is 0.254% dearer against SunX than usual: you sell high and buy low: +$25 more if the spread goes back to its 7-day average of −0.182%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX MU-USDT	1,052.1	0	get 0.0000% / 8h	4h 12m	$11K	$5.8M	10x
Short	Coinbase International MU-PERP-INTX	1,052.9	0.0080	get 0.0010% / 1h	12m 12s	$759K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against SunX. 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 SunXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.072%Rate

Funding earned: $16.8
Price spread: +0.072% → −0.182%: $25.42
Slippage, 4 orders: −$57
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$32.78
Costs to cover: 0.750%
Break-even: 20.7 days

Slippage from SunX: live order book, 7 min ago; Coinbase International: live order book, 1 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 SunX live order book, 7 min ago	21.56 bp	25.6 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	2.99 bp	8.0 bp −$8	8.0 bp −$80	65.9 bp −$6,589	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	−0.0084%	4h	1,051.4	−0.066%	$1.3M	$673K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,052.3	+0.016%	$21.4M	$55.0M	20x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,052.1	−0.008%	$31.2M	$99.6M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,052	−0.009%	$341K	$354K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,051.9	−0.018%	$62.3M	$27.5M	75x	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,051.7	−0.043%	$81K	$1.4M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,051.5	−0.061%	$190K	$3.4M	20x	as long as short
SunX MU-USDTlong	0.0000%	8h	1,052.1	long leg	$11K	$5.8M	10x
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,051.6	−0.048%	$72K	$443K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,051.5	−0.059%	$131K	$434K	50x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MU	+0.0003%	8h	1,051.8	−0.034%	$2.7M	$2.4M	—	as long as short
Bybit MUUSDT	+0.0021%	8h	1,052.1	−0.003%	$19.1M	$32.3M	100x	as long as short
Aftermath Perps MUUSD	+0.0023%	1h	1,051.9	−0.024%	$3K	$44K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,052	−0.010%	$1.3M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,051.6	−0.055%	$566K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	−0.073%	$19K	$5K	12x	as long as short
QFEX MU-USD	+0.0034%	1h	1,051.7	−0.043%	$7.1M	$17.8M	10x	as long as short
Binance MUUSDT	+0.0039%	8h	1,052.1	−0.002%	$126.6M	$516.5M	50x	as long as short
Arcus MU-USD	+0.0040%	1h	1,051.6	−0.052%	$71K	$234K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,053	+0.086%	—	$176K	25x	as long as short
Nado MU-PERP	+0.0047%	1h	1,051.5	−0.060%	$282K	$836K	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,051.7	−0.041%	$171K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,051.9	−0.024%	$690K	$16K	10x	as long as short
Bullet MU-USD	+0.0050%	1h	1,052	−0.012%	$26K	$395K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,051	−0.104%	$1.9M	$2.2M	10x	as long as short
Paradex MU-USD-PERP	+0.0051%	8h	1,051.9	−0.019%	$2K	—	5x	as long as short
Lighter MU	+0.0056%	1h	1,052.1	−0.008%	$1.1M	$5.1M	20x	as long as short
Bitget MUUSDT	+0.0069%	8h	1,052.1	−0.002%	$20.5M	$41.1M	50x	as long as short
tradeXYZ xyz:MU	+0.0072%	1h	1,051.7	−0.041%	$178.7M	$99.0M	10x	as long as short
Coinbase International MU-PERP-INTXshort	+0.0080%	1h	1,052.9	+0.072%	$759K	$1.2M	10x
Aevo MU-PERP	+0.0088%	1h	1,051.5	−0.059%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,051.8	−0.031%	$148K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,051.8	−0.035%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,051	−0.106%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,051.9	−0.022%	$836	$799	20x	as long as short
BloFin MU-USDT	+0.0161%	8h	1,051.9	−0.024%	$1.5M	$2.0M	20x	as long as short
Phoenix MU	+0.0304%	1h	1,052.5	+0.035%	$538K	$271K	15x	as long as short