Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.013%

Price spread now: Binance against tradeXYZ+0.027%7-day average +0.074% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$290.292% of the position

Long on tradeXYZ Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.043%−$4 on $10k

Price spread, last 7 days+0.019%+$2 · spread now +0.027%, 7d avg +0.074%

Together, before fees−0.024%+ Points / potential airdroptradeXYZ: Active · farm board−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Binance is 0.047% cheaper against tradeXYZ than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.074%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.043% in total (about -2.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:MU	1,039.5	0.0240	pay 0.0030% / 1h	42m 41s	$177.3M	$75.7M	10x
Short	Binance MUUSDT	1,039.8	0	get 0.0000% / 8h	5h 42m	$121.7M	$555.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.027%Rate

Funding earned: −$50.5
Price spread: +0.027% → +0.074%: −$4.72
Slippage, 4 orders: −$1.24
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Binance: 5 bp × 2 orders: −$10
Net: −$84.45
Costs to cover: 0.292%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 10 min ago; Binance: live order book, 9 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, 10 min ago	0.48 bp	9.6 bp −$10	10.7 bp −$107	15.6 bp −$1,563	doesn't fit
Sell Binance live order book, 9 min ago	0.05 bp	5.1 bp −$5	6.6 bp −$66	16.6 bp −$1,665	doesn't fit

MU on 37 exchanges

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	−0.0853%	4h	1,038.8	−0.063%	$1.3M	$696K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,039.8	+0.033%	$21.2M	$73.6M	20x	as long as short
Binance MUUSDTshort	0.0000%	8h	1,039.8	+0.027%	$121.7M	$555.4M	50x
OKX MU-USDT-SWAP	0.0000%	8h	1,039.8	+0.024%	$29.7M	$107.6M	50x	as long as short
Gate MU_USDT	0.0000%	8h	1,039.6	+0.007%	$61.4M	$28.0M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,039.7	+0.023%	$19.8M	$43.6M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,039.1	−0.042%	$2.6M	$2.6M	—	as long as short
StandX MU-USD	0.0000%	1h	1,038.7	−0.079%	$188K	$3.7M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,041.3	+0.175%	$11K	$5.0M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,038.8	−0.069%	$34K	$726K	10x	as long as short

Show all 37 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX MU-USDT	0.0000%	8h	1,039.5	−0.002%	$119K	$473K	50x	as long as short
Lighter RH MU	+0.0032%	1h	1,039.5	−0.004%	$1.2M	$4.5M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.141%	$19K	$5K	12x	as long as short
Aftermath Perps MUUSD	+0.0035%	1h	1,039	−0.045%	$3K	$41K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,040.2	+0.066%	—	$177K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,039.2	−0.029%	$169K	$171K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,039.1	−0.039%	$683K	$14K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,037.4	−0.202%	$1.9M	$3.2M	10x	as long as short
QFEX MU-USD	+0.0058%	1h	1,039.1	−0.038%	$7.0M	$19.3M	10x	as long as short
Bybit MUUSDT	+0.0074%	8h	1,040	+0.043%	$18.8M	$32.3M	100x	as long as short
Paradex MU-USD-PERP	+0.0079%	8h	1,039.6	+0.006%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,039	−0.048%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,039.2	−0.030%	$151K	$227K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,039.3	−0.018%	$5.2M	$6.1M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,038.8	−0.071%	$70K	$270K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,039.2	−0.028%	$826	$799	20x	as long as short
RISEx MU/USDC	+0.0118%	1h	1,039.6	+0.006%	$299K	$351K	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,039.7	+0.020%	$1.5M	$2.6M	20x	as long as short
Nado MU-PERP	+0.0125%	1h	1,038.8	−0.067%	$276K	$841K	10x	as long as short
Arcus MU-USD	+0.0139%	1h	1,039.1	−0.035%	$90K	$147K	10x	as long as short
Lighter MU	+0.0176%	1h	1,039.4	−0.012%	$1.0M	$5.0M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0192%	1h	1,038.5	−0.099%	$727K	$1.2M	10x	as long as short
Bullet MU-USD	+0.0210%	1h	1,039.6	+0.007%	$24K	$384K	10x	as long as short
GRVT MU_USDT_Perp	+0.0221%	8h	1,040.4	+0.090%	$73K	$1.4M	10x	as long as short
tradeXYZ xyz:MUlong	+0.0240%	1h	1,039.5	long leg	$177.3M	$75.7M	10x
Phoenix MU	+0.0308%	1h	1,040.4	+0.087%	$532K	$159K	15x	as long as short
Extended MU_24_5-USD	+0.0336%	1h	1,038.6	−0.083%	$551K	$1.1M	10x	as long as short