Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h +0.035%

Price spread now: BloFin against ApeX Omni+0.049%103s7-day average +0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$510.515% of the position

Long on ApeX Omni Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.219%+$22 on $10k

Price spread, last 4 days (all we have)−0.090%−$9 · spread now +0.049%, 7d avg +0.009%

Together, before fees+0.129%+$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and BloFin is 0.040% dearer against ApeX Omni than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.009%. The two prices were read 103 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	ApeX Omni MUUSDT	1,036.1	0.0100	pay 0.0013% / 1h	59m 35s	$70K	$270K	50x
Short	BloFin MU-USDT	1,036.7	0.0120	get 0.0120% / 8h	59m 35s	$1.5M	$2.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against ApeX Omni. 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 ApeX OmnibpFee BloFinbpOrdersPrice spread, now +0.049%Rate

Funding earned: $4.2
Price spread: +0.049% → +0.009%: $4.03
Slippage, 4 orders: −$29.45
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$43.22
Costs to cover: 0.515%
Break-even: 79.0 days

Slippage from ApeX Omni: live order book, 42 min ago; BloFin: live order book, 3 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 ApeX Omni live order book, 42 min ago	7.62 bp	18.5 bp −$19	178.7 bp −$1,787	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	0.19 bp	6.6 bp −$7	8.3 bp −$83	11.7 bp −$1,167	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	−0.0242%	4h	1,036.6	+0.046%	$1.3M	$674K	10x	as long as short
Bitget MUUSDT	−0.0168%	8h	1,036.5	+0.039%	$20.2M	$40.3M	50x	as long as short
Nado MU-PERP	−0.0002%	1h	1,036.3	+0.013%	$278K	$809K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,036.4	+0.029%	$21.1M	$64.1M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,036.1	−0.002%	$122.0M	$538.9M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,036.2	+0.010%	$18.7M	$32.3M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,036.3	+0.012%	$29.7M	$99.9M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,036.8	+0.060%	$313K	$386K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,036.2	+0.009%	$61.4M	$28.2M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,036.4	+0.028%	$2.5M	$2.5M	—	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MU_USDT_Perp	0.0000%	8h	1,036.8	+0.068%	$83K	$1.4M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,036.6	+0.044%	$187K	$3.5M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,036.8	+0.064%	$25K	$390K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,038.2	+0.194%	$11K	$5.6M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,036.7	+0.051%	$74K	$584K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,036.4	+0.029%	$127K	$460K	50x	as long as short
Aftermath Perps MUUSD	+0.0015%	1h	1,036.9	+0.077%	$3K	$44K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,036.3	+0.014%	$1.1M	$4.5M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,035.8	−0.037%	$550K	$1.1M	10x	as long as short
QFEX MU-USD	+0.0032%	1h	1,036.2	+0.002%	$7.0M	$18.8M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.469%	$19K	$5K	12x	as long as short
Lighter MU	+0.0040%	1h	1,036.4	+0.026%	$1.0M	$4.9M	20x	as long as short
Arcus MU-USD	+0.0040%	1h	1,036.5	+0.038%	$90K	$244K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,036.6	+0.042%	—	$175K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,036	−0.014%	$176.1M	$85.6M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,036.5	+0.035%	$168K	$195K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,036.6	+0.042%	$680K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,035.9	−0.019%	$1.8M	$2.7M	10x	as long as short
Paradex MU-USD-PERP	+0.0051%	8h	1,036.2	+0.003%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,036.3	+0.013%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,036.3	+0.015%	$147K	$188K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,036.1	0.000%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDTlong	+0.0100%	1h	1,036.1	long leg	$70K	$270K	50x
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,036.7	+0.058%	$824	$799	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0104%	1h	1,038.8	+0.255%	$734K	$1.2M	10x	as long as short
BloFin MU-USDTshort	+0.0120%	8h	1,036.7	+0.049%	$1.5M	$2.1M	20x
Phoenix MU	+0.0231%	1h	1,037.3	+0.112%	$531K	$270K	15x	as long as short