Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.1300%/8h= −142.4% APRpaid last 24h +0.045%

Price spread now: edgeX against Arcus+0.103%7-day average +0.042% · 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−$16as in the Price arb table

costs, in and out, $10k−$220.217% of the position

Long on Arcus Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.251%+$25 on $10k

Price spread, last 4 days (all we have)−0.097%−$10 · spread now +0.103%, 7d avg +0.042%

Together, before fees+0.154%+ Points / potential airdropedgeX: Active · farm board+$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.061% dearer against Arcus than usual: you sell high and buy low (spread +0.103% now, against its 7-day average of +0.042%): +$6 on $10k if it goes back. Holding the pair costs −$39 a day in funding at the current rate, which eats that in about 4 hours. Mind the row above: over the last 3 days funding on this pair paid +0.251%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.251% in total (about 27.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus MU-USD	1,043	0.0435	pay 0.0054% / 1h	16m 58s	$73K	$241K	10x
Short	edgeX MUUSDC	1,044.1	−0.0865	pay 0.0433% / 4h	1h 16m	$1.3M	$673K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.103%Rate

Funding earned: −$273.02
Price spread: +0.103% → +0.042%: $6.07
Slippage, 4 orders: −$8.16
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$288.61
Costs to cover: 0.217%
Break-even: never at this rate

Slippage from Arcus: live order book, 1 min ago; edgeX: live order book, 2 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, 1 min ago	2.54 bp	4.8 bp −$5	9.2 bp −$92	doesn't fit	doesn't fit
Sell edgeX live order book, 2 min ago	0.34 bp	4.9 bp −$5	6.7 bp −$67	29.0 bp −$2,898	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 MUUSDCshort	−0.0865%	4h	1,044.1	+0.103%	$1.3M	$673K	10x
Gate MU_USDT	0.0000%	8h	1,043.2	+0.024%	$62.9M	$29.1M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,043	−0.003%	$189K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,045.6	+0.249%	$11K	$6.6M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,043.2	+0.019%	$125K	$442K	50x	as long as short
Lighter RH MU	+0.0032%	1h	1,043.1	+0.007%	$1.2M	$4.2M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.740%	$14K	$302	12x	as long as short
Aftermath Perps MUUSD	+0.0033%	1h	1,043.5	+0.049%	$3K	$45K	10x	as long as short
OKX MU-USDT-SWAP	+0.0037%	8h	1,043.4	+0.035%	$30.8M	$104.8M	50x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,042.8	−0.017%	—	$194K	25x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps MU-USD	+0.0050%	1h	1,043.1	+0.011%	$165K	$197K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,043.3	+0.025%	$685K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,042.5	−0.045%	$2.0M	$2.7M	10x	as long as short
QFEX MU-USD	+0.0071%	1h	1,043.3	+0.029%	$7.8M	$24.1M	10x	as long as short
Aster MUUSD1	+0.0090%	8h	1,044	+0.092%	$21.5M	$47.4M	20x	as long as short
Pacifica MU	+0.0100%	1h	1,042.9	−0.009%	$154K	$181K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,043	+0.004%	$5.2M	$4.0M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,043.5	+0.048%	$71K	$266K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,043.5	+0.051%	$830	$799	20x	as long as short
Bitget MUUSDT	+0.0104%	8h	1,043.3	+0.030%	$20.4M	$43.0M	50x	as long as short
Aevo MU-PERP	+0.0120%	1h	1,043.2	+0.021%	$33K	—	10x	as long as short
Paradex MU-USD-PERP	+0.0135%	8h	1,043.2	+0.023%	$2K	—	5x	as long as short
Variational Omni MU	+0.0141%	8h	1,044	+0.097%	$2.6M	$2.6M	—	as long as short
Binance MUUSDT	+0.0161%	8h	1,043.5	+0.044%	$124.7M	$535.8M	50x	as long as short
Coinbase International MU-PERP-INTX	+0.0184%	1h	1,043.2	+0.023%	$755K	$1.4M	10x	as long as short
Lighter MU	+0.0200%	1h	1,043.3	+0.026%	$998K	$4.8M	20x	as long as short
GRVT MU_USDT_Perp	+0.0218%	8h	1,044	+0.101%	$77K	$1.4M	10x	as long as short
Nado MU-PERP	+0.0219%	1h	1,042.4	−0.056%	$273K	$874K	10x	as long as short
Bybit MUUSDT	+0.0245%	8h	1,043.6	+0.055%	$19.2M	$32.7M	100x	as long as short
Bullet MU-USD	+0.0277%	1h	1,043.5	+0.049%	$27K	$396K	10x	as long as short
BloFin MU-USDT	+0.0281%	8h	1,043.6	+0.056%	$1.4M	$2.0M	20x	as long as short
tradeXYZ xyz:MU	+0.0324%	1h	1,043.2	+0.020%	$176.2M	$106.7M	10x	as long as short
Phoenix MU	+0.0383%	1h	1,044.2	+0.116%	$534K	$306K	15x	as long as short
Arcus MU-USDlong	+0.0435%	1h	1,043	long leg	$73K	$241K	10x
RISEx MU/USDC	+0.0499%	1h	1,043.8	+0.080%	$295K	$338K	20x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0633%	1h	1,043.2	+0.023%	$61K	$247K	10x	as long as short
Extended MU_24_5-USD	+0.0688%	1h	1,042.3	−0.069%	$547K	$1.1M	10x	as long as short