Funding arb · Price arb /

MU

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0077%/8h= +8.4% APRpaid last 24h +0.006%

Price spread now: Orderly against Aftermath Perps−0.035%7-day average — · you buy dearer than you sell

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

Long on Aftermath Perps Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. Orderly is 0.035% cheaper against Aftermath Perps than usual: you would sell low and buy high (spread −0.035% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 37 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps MUUSD	1,049.5	0.0023	pay 0.0003% / 1h	51m 33s	$3K	$44K	10x
Short	Orderly PERP_MU_USDC_mythos	1,049.1	0.0100	get 0.0100% / 8h	3h 51m	$834	$799	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Aftermath Perps. 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 Aftermath PerpsbpFee OrderlybpOrdersPrice spread, now −0.035%Rate

Funding earned: $16.18
Price spread: −0.035% → 0.000%: −$3.53
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$2.36
Costs to cover: 0.150%
Break-even: 8.0 days

Slippage unknown: Aftermath Perps: no order-book sample; Orderly: no order-book sample. 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 Aftermath Perps no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Aftermath Perps and 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	−0.0827%	4h	1,049.7	+0.022%	$1.3M	$672K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,049.5	+0.003%	$21.4M	$55.3M	20x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,049.3	−0.024%	$31.2M	$99.5M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,049.4	−0.014%	$339K	$351K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,049.1	−0.038%	$62.6M	$27.6M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,049.4	−0.010%	$20.5M	$41.3M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,049.7	+0.022%	$2.7M	$2.4M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,049.9	+0.035%	$82K	$1.4M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,049.2	−0.029%	$190K	$3.4M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,049.9	+0.036%	$11K	$5.8M	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,049	−0.051%	$73K	$459K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,049.1	−0.037%	$130K	$430K	50x	as long as short
Bybit MUUSDT	+0.0005%	8h	1,049.4	−0.008%	$19.0M	$31.9M	100x	as long as short
Binance MUUSDT	+0.0008%	8h	1,049.2	−0.028%	$125.9M	$516.7M	50x	as long as short
Aftermath Perps MUUSDlong	+0.0023%	1h	1,049.5	long leg	$3K	$44K	10x
QFEX MU-USD	+0.0032%	1h	1,049	−0.044%	$7.1M	$17.8M	10x	as long as short
Lighter MU	+0.0032%	1h	1,049.1	−0.038%	$1.1M	$5.0M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,049.1	−0.038%	$1.3M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,048.5	−0.098%	$563K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.177%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,049.5	−0.003%	$71K	$233K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,050	+0.049%	—	$176K	25x	as long as short
BloFin MU-USDT	+0.0046%	8h	1,049.8	+0.031%	$1.5M	$2.0M	20x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,048.8	−0.067%	$178.0M	$97.1M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,049.2	−0.029%	$170K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,049.1	−0.041%	$688K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,048.6	−0.087%	$1.9M	$2.2M	10x	as long as short
Paradex MU-USD-PERP	+0.0051%	8h	1,049.2	−0.028%	$2K	—	5x	as long as short
Nado MU-PERP	+0.0065%	1h	1,048.8	−0.070%	$281K	$832K	10x	as long as short
Bullet MU-USD	+0.0077%	1h	1,049.5	0.000%	$25K	$395K	10x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,049	−0.051%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,049.2	−0.028%	$148K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,049	−0.052%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,050.1	+0.054%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythosshort	+0.0100%	8h	1,049.1	−0.035%	$834	$799	20x
Coinbase International MU-PERP-INTX	+0.0120%	1h	1,050	+0.050%	$757K	$1.2M	10x	as long as short
Phoenix MU	+0.0305%	1h	1,050.1	+0.057%	$537K	$271K	15x	as long as short