Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0013%/8h= −1.5% APRpaid last 24h −0.024%

Price spread now: Aster against tradeXYZ+0.104%7-day average +0.070% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$280.277% of the position

Long on tradeXYZ Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.167%−$17 on $10k

Price spread, last 7 days−0.072%−$7 · spread now +0.104%, 7d avg +0.070%

Together, before fees−0.238%+ Points / potential airdroptradeXYZ: Active · Aster: Stage 5 · farm board−$24 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.034% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.104% now, against its 7-day average of +0.070%): +$3 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 8.4 days. At the pace of the last 7 days (−0.167% in total) that is about 34 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:MU	1,036.6	0.0013	pay 0.0002% / 1h	59m 05s	$176.2M	$80.4M	10x
Short	Aster MUUSD1	1,037.7	0	get 0.0000% / 8h	7h 59m	$21.2M	$68.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against tradeXYZ. 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 tradeXYZbpFee AsterbpOrdersPrice spread, now +0.104%Rate

Funding earned: −$2.83
Price spread: +0.104% → +0.070%: $3.42
Slippage, 4 orders: −$1.68
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Aster: 4 bp × 2 orders: −$8
Net: −$27.1
Costs to cover: 0.277%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 11 min ago; Aster: live order book, 5 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 tradeXYZ live order book, 11 min ago	0.48 bp	9.5 bp −$9	10.9 bp −$109	16.3 bp −$1,625	doesn't fit
Sell Aster live order book, 5 min ago	0.05 bp	4.0 bp −$4	10.9 bp −$109	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	−0.0766%	4h	1,038.5	+0.187%	$1.3M	$673K	10x	as long as short
Bitget MUUSDT	−0.0122%	8h	1,036.5	−0.014%	$20.5M	$40.4M	50x	as long as short
Aster MUUSD1short	0.0000%	8h	1,037.7	+0.104%	$21.2M	$68.3M	20x
Binance MUUSDT	0.0000%	8h	1,037.1	+0.049%	$122.5M	$538.5M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,037.3	+0.070%	$18.8M	$32.2M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,036.1	−0.047%	$29.8M	$100.2M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,038.4	+0.172%	$312K	$382K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,037.3	+0.068%	$62.2M	$27.4M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,038	+0.133%	$2.5M	$2.6M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,038.1	+0.145%	$80K	$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
Nado MU-PERP	0.0000%	1h	1,038.1	+0.142%	$279K	$803K	10x	as long as short
StandX MU-USD	0.0000%	1h	1,038.2	+0.150%	$188K	$3.5M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,037.3	+0.068%	$25K	$388K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,038.6	+0.197%	$11K	$5.5M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,037.5	+0.082%	$74K	$623K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,037.8	+0.118%	$126K	$483K	50x	as long as short
tradeXYZ xyz:MUlong	+0.0013%	1h	1,036.6	long leg	$176.2M	$80.4M	10x
Aftermath Perps MUUSD	+0.0021%	1h	1,037.7	+0.105%	$3K	$44K	10x	as long as short
QFEX MU-USD	+0.0021%	1h	1,038.4	+0.171%	$7.0M	$18.7M	10x	as long as short
Lighter MU	+0.0032%	1h	1,036.8	+0.015%	$1.0M	$4.8M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,036.8	+0.022%	$1.1M	$4.3M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,037.7	+0.109%	$544K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.424%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,038	+0.136%	$90K	$243K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,038.4	+0.175%	—	$175K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,037.3	+0.068%	$168K	$177K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,037.5	+0.085%	$681K	$15K	10x	as long as short
Paradex MU-USD-PERP	+0.0050%	8h	1,038.5	+0.183%	$2K	—	5x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,036.9	+0.027%	$1.9M	$2.7M	10x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,037.1	+0.052%	$32K	$1K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0096%	1h	1,038.3	+0.168%	$726K	$1.2M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,038.1	+0.144%	$145K	$191K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,037.6	+0.096%	$5.2M	$4.2M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,038.6	+0.197%	$70K	$270K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,038.2	+0.156%	$825	$799	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,037.3	+0.063%	$1.5M	$2.1M	20x	as long as short
Phoenix MU	+0.0232%	1h	1,038.2	+0.154%	$531K	$270K	15x	as long as short