Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: HTX against ApeX Omni−0.048%76s7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$79as 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−$600.602% of the position

Long on ApeX Omni Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.185%−$18 on $10k

Price spread, last 4 days (all we have)+0.039%+$4 · spread now −0.048%, 7d avg −0.003%

Together, before fees−0.145%−$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and HTX is 0.045% cheaper against ApeX Omni than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.003%). Swap the legs. The two prices were read 76 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	1,043.3	0.0100	pay 0.0013% / 1h	47m 42s	$71K	$269K	50x
Short	HTX MU-USDT	1,042.8	0	get 0.0000% / 8h	2h 47m	$128K	$440K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.048%Rate

Funding earned: −$21
Price spread: −0.048% → −0.003%: −$4.48
Slippage, 4 orders: −$38.23
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$85.71
Costs to cover: 0.602%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 64 min ago; HTX: live order book, 66 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, 64 min ago	8.58 bp	21.3 bp −$21	200.1 bp −$2,001	doesn't fit	doesn't fit
Sell HTX live order book, 66 min ago	2.81 bp	9.2 bp −$9	9.2 bp −$92	14.0 bp −$1,402	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	−0.0859%	4h	1,043	−0.024%	$1.3M	$672K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,042.5	−0.075%	$21.2M	$57.2M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,042	−0.118%	$122.9M	$525.5M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,042.3	−0.098%	$18.6M	$32.0M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,042.1	−0.110%	$30.4M	$99.8M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,043.3	+0.007%	$337K	$354K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,042.1	−0.111%	$61.9M	$27.9M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,042.3	−0.091%	$20.4M	$41.1M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,043.4	+0.014%	$2.7M	$2.4M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,043.6	+0.033%	$83K	$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
StandX MU-USD	0.0000%	1h	1,043.6	+0.035%	$189K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,044.3	+0.101%	$11K	$5.7M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,042.4	−0.088%	$73K	$502K	10x	as long as short
HTX MU-USDTshort	0.0000%	8h	1,042.8	−0.048%	$128K	$440K	50x
Nado MU-PERP	+0.0005%	1h	1,043	−0.030%	$281K	$820K	10x	as long as short
Bullet MU-USD	+0.0013%	1h	1,042.9	−0.038%	$26K	$392K	10x	as long as short
Aftermath Perps MUUSD	+0.0019%	1h	1,042.8	−0.043%	$3K	$44K	10x	as long as short
QFEX MU-USD	+0.0023%	1h	1,043	−0.025%	$7.0M	$18.0M	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,042	−0.118%	$1.2M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,041.7	−0.155%	$546K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.775%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,042.8	−0.042%	$70K	$232K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,043.3	−0.002%	—	$176K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,041.7	−0.150%	$177.0M	$93.5M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,042.6	−0.064%	$169K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,042.6	−0.062%	$684K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,043.1	−0.012%	$1.9M	$2.3M	10x	as long as short
Paradex MU-USD-PERP	+0.0051%	8h	1,042.1	−0.115%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,042.3	−0.093%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,041.9	−0.129%	$147K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,041.9	−0.128%	$5.2M	$3.4M	20x	as long as short
ApeX Omni MUUSDTlong	+0.0100%	1h	1,043.3	long leg	$71K	$269K	50x
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,042.6	−0.062%	$829	$799	20x	as long as short
Lighter MU	+0.0112%	1h	1,042.1	−0.110%	$1.1M	$4.9M	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,043.1	−0.017%	$1.5M	$2.0M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0144%	1h	1,043.3	+0.005%	$745K	$1.2M	10x	as long as short
Phoenix MU	+0.0231%	1h	1,043	−0.026%	$534K	$270K	15x	as long as short