Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.029%

Price spread now: OKX against Arcus+0.075%47s7-day average +0.035% · 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−$320.316% of the position

Long on Arcus Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.096%−$10 on $10k

Price spread, last 4 days (all we have)−0.025%−$3 · spread now +0.075%, 7d avg +0.035%

Together, before fees−0.121%−$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.040% dearer against Arcus than usual: you sell high and buy low (spread +0.075% now, against its 7-day average of +0.035%): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.3 days. At the pace of the last 4 days (−0.096% in total) that is about 37 hours. The two prices were read 47 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	1,036.4	0.0040	pay 0.0005% / 1h	30m 48s	$70K	$231K	10x
Short	OKX MU-USDT-SWAP	1,037.2	0	get 0.0000% / 8h	2h 30m	$30.0M	$100.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.075%Rate

Funding earned: −$8.46
Price spread: +0.075% → +0.035%: $4.03
Slippage, 4 orders: −$17.08
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$36.01
Costs to cover: 0.316%
Break-even: never at this rate

Slippage from Arcus: live order book, 17 min ago; OKX: 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, 17 min ago	3.74 bp	9.4 bp −$9	13.5 bp −$135	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.05 bp	5.2 bp −$5	7.2 bp −$72	22.3 bp −$2,232	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	−0.0955%	4h	1,035.8	−0.062%	$1.3M	$673K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,037.1	+0.066%	$21.1M	$57.2M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,036.9	+0.048%	$121.3M	$530.6M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,037	+0.051%	$18.5M	$32.0M	100x	as long as short
OKX MU-USDT-SWAPshort	0.0000%	8h	1,037.2	+0.075%	$30.0M	$100.4M	50x
RISEx MU/USDC	0.0000%	1h	1,036	−0.042%	$334K	$370K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,036.5	+0.005%	$61.5M	$28.3M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,037.4	+0.096%	$20.4M	$41.1M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,036	−0.039%	$2.6M	$2.4M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,035.3	−0.104%	$75K	$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	1,035.5	−0.087%	$187K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,037.3	+0.086%	$11K	$5.7M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,036	−0.038%	$73K	$512K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,036.2	−0.021%	$127K	$447K	50x	as long as short
Aftermath Perps MUUSD	+0.0020%	1h	1,036.9	+0.045%	$3K	$44K	10x	as long as short
Nado MU-PERP	+0.0023%	1h	1,035.1	−0.128%	$277K	$819K	10x	as long as short
QFEX MU-USD	+0.0023%	1h	1,035.6	−0.080%	$7.0M	$18.0M	10x	as long as short
Bullet MU-USD	+0.0024%	1h	1,035.9	−0.050%	$25K	$390K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,036.9	+0.043%	$1.2M	$4.5M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,036.2	−0.025%	$541K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.442%	$19K	$5K	12x	as long as short
Arcus MU-USDlong	+0.0040%	1h	1,036.4	long leg	$70K	$231K	10x
Vest MU-USD-PERP	+0.0046%	1h	1,035.6	−0.078%	—	$174K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,036.6	+0.017%	$176.1M	$92.7M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,035.4	−0.098%	$168K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,035.7	−0.069%	$680K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,034.7	−0.163%	$1.9M	$2.4M	10x	as long as short
Paradex MU-USD-PERP	+0.0051%	8h	1,035.5	−0.088%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,035.5	−0.088%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,035.4	−0.101%	$146K	$187K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,036.3	−0.013%	$5.2M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,035.3	−0.113%	$70K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,035.7	−0.072%	$823	$799	20x	as long as short
Lighter MU	+0.0112%	1h	1,037.2	+0.075%	$1.0M	$4.9M	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,036.9	+0.048%	$1.5M	$2.0M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0144%	1h	1,035.9	−0.054%	$731K	$1.2M	10x	as long as short
Phoenix MU	+0.0231%	1h	1,037.1	+0.066%	$530K	$270K	15x	as long as short