Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.012%

Price spread now: Bybit against Arcus+0.046%46s7-day average +0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$360.360% of the position

Long on Arcus Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.087%−$9 on $10k

Price spread, last 4 days (all we have)−0.098%−$10 · spread now +0.046%, 7d avg +0.041%

Together, before fees−0.185%−$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.041%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. The two prices were read 46 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	Arcus MU-USD	1,050.2	0.0040	pay 0.0005% / 1h	35m 56s	$71K	$235K	10x
Short	Bybit MUUSDT	1,050.7	0.0007	get 0.0007% / 8h	5h 35m	$19.1M	$32.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Arcus. 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 ArcusbpFee BybitbpOrdersPrice spread, now +0.046%Rate

Funding earned: −$6.96
Price spread: +0.046% → +0.041%: $0.46
Slippage, 4 orders: −$20.46
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$42.46
Costs to cover: 0.360%
Break-even: never at this rate

Slippage from Arcus: live order book, 27 min ago; Bybit: 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 Arcus live order book, 27 min ago	3.76 bp	9.5 bp −$9	14.2 bp −$142	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.14 bp	8.2 bp −$8	10.2 bp −$102	26.2 bp −$2,622	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	−0.0447%	4h	1,050	−0.027%	$1.3M	$671K	10x	as long as short
RISEx MU/USDC	0.0000%	1h	1,050.9	+0.062%	$333K	$348K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,050.4	+0.010%	$62.1M	$27.4M	75x	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,050.7	+0.046%	$85K	$1.3M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,050.2	−0.007%	$190K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,052.4	+0.204%	$11K	$5.9M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,050.5	+0.020%	$129K	$428K	50x	as long as short
Bybit MUUSDTshort	+0.0007%	8h	1,050.7	+0.046%	$19.1M	$32.3M	100x
Aftermath Perps MUUSD	+0.0020%	1h	1,050.2	−0.007%	$3K	$45K	10x	as long as short
QFEX MU-USD	+0.0030%	1h	1,050.6	+0.034%	$7.2M	$18.2M	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX MU-USDT-SWAP	+0.0030%	8h	1,050.5	+0.025%	$31.0M	$99.9M	50x	as long as short
Lighter RH MU	+0.0032%	1h	1,050.5	+0.025%	$1.2M	$4.3M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.107%	$19K	$5K	12x	as long as short
Arcus MU-USDlong	+0.0040%	1h	1,050.2	long leg	$71K	$235K	10x
Vest MU-USD-PERP	+0.0046%	1h	1,051.4	+0.109%	—	$175K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,050.4	+0.015%	$170K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,050.5	+0.026%	$689K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,050.1	−0.018%	$1.9M	$2.3M	10x	as long as short
Lighter MU	+0.0056%	1h	1,050.7	+0.043%	$1.1M	$4.9M	20x	as long as short
Extended MU_24_5-USD	+0.0056%	1h	1,049.6	−0.060%	$564K	$1.1M	10x	as long as short
Paradex MU-USD-PERP	+0.0057%	8h	1,050.9	+0.064%	$2K	—	5x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0064%	1h	1,050.4	+0.018%	$67K	$365K	10x	as long as short
Nado MU-PERP	+0.0068%	1h	1,050.3	+0.004%	$282K	$848K	10x	as long as short
tradeXYZ xyz:MU	+0.0073%	1h	1,050.4	+0.015%	$178.2M	$99.1M	10x	as long as short
Aster MUUSD1	+0.0084%	8h	1,050.4	+0.019%	$21.4M	$52.1M	20x	as long as short
Bullet MU-USD	+0.0092%	1h	1,050.7	+0.044%	$25K	$398K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0096%	1h	1,049.9	−0.029%	$756K	$1.2M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,050.1	−0.009%	$149K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,050.1	−0.010%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,050.3	+0.003%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050.6	+0.037%	$835	$799	20x	as long as short
Aevo MU-PERP	+0.0120%	1h	1,050.3	+0.006%	$32K	$1K	10x	as long as short
Variational Omni MU	+0.0122%	8h	1,050.5	+0.022%	$2.7M	$2.4M	—	as long as short
Bitget MUUSDT	+0.0137%	8h	1,050.6	+0.034%	$20.6M	$41.1M	50x	as long as short
Binance MUUSDT	+0.0146%	8h	1,050.3	+0.007%	$126.5M	$518.6M	50x	as long as short
Phoenix MU	+0.0229%	1h	1,050.7	+0.044%	$537K	$271K	15x	as long as short
BloFin MU-USDT	+0.0267%	8h	1,050.8	+0.054%	$1.5M	$2.0M	20x	as long as short