Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0124%/8h= −13.6% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against Binance−0.101%49s7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as 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−$480.483% of the position

Long on Binance Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.025%+$3 on $10k

Price spread, last 2 days (all we have)+0.096%+$10 · spread now −0.101%, 7d avg −0.016%

Together, before fees+0.122%+$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and ApeX Omni is 0.085% cheaper against Binance than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.016%). Swap the legs. The two prices were read 49 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	Binance MUUSDT	1,049.9	0.0224	pay 0.0224% / 8h	7h 30m	$126.0M	$524.2M	50x
Short	ApeX Omni MUUSDT	1,048.8	0.0100	get 0.0013% / 1h	30m 46s	$71K	$267K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Binance. 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 BinancebpFee ApeX OmnibpOrdersPrice spread, now −0.101%Rate

Funding earned: −$26.02
Price spread: −0.101% → −0.016%: −$8.48
Slippage, 4 orders: −$28.29
Fee Binance: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$82.79
Costs to cover: 0.483%
Break-even: never at this rate

Slippage from Binance: live order book, 13 min ago; ApeX Omni: live order book, 41 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 Binance live order book, 13 min ago	0.05 bp	5.3 bp −$5	6.9 bp −$69	18.9 bp −$1,888	doesn't fit
Sell ApeX Omni live order book, 41 min ago	7.41 bp	19.7 bp −$20	176.7 bp −$1,767	doesn't fit	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	−0.0111%	4h	1,049.2	−0.061%	$1.3M	$673K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,049.5	−0.033%	$62.8M	$28.9M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,048.9	−0.097%	$190K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,051.2	+0.123%	$11K	$6.2M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,049.5	−0.040%	$129K	$425K	50x	as long as short
Aftermath Perps MUUSD	+0.0022%	1h	1,049.4	−0.051%	$3K	$45K	10x	as long as short
Lighter MU	+0.0032%	1h	1,049.7	−0.020%	$1.1M	$4.8M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,049.6	−0.024%	$1.2M	$4.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.140%	$19K	$5K	12x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,050.3	+0.036%	—	$179K	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	1,049.5	−0.037%	$171K	$203K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,048.8	−0.107%	$1.9M	$2.3M	10x	as long as short
QFEX MU-USD	+0.0054%	1h	1,049.6	−0.025%	$7.8M	$22.6M	10x	as long as short
Nado MU-PERP	+0.0077%	1h	1,049.1	−0.074%	$275K	$858K	10x	as long as short
SoDEX MU-USD	+0.0087%	1h	1,049.5	−0.038%	$689K	$16K	10x	as long as short
Paradex MU-USD-PERP	+0.0090%	8h	1,049.8	−0.012%	$2K	—	5x	as long as short
OKX MU-USDT-SWAP	+0.0097%	8h	1,049.9	+0.002%	$30.9M	$101.9M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,049.9	+0.005%	$148K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,049.5	−0.041%	$5.3M	$3.6M	20x	as long as short
ApeX Omni MUUSDTshort	+0.0100%	1h	1,048.8	−0.101%	$71K	$267K	50x
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,049.6	−0.032%	$834	$799	20x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0103%	1h	1,049.4	−0.050%	$64K	$302K	10x	as long as short
Aevo MU-PERP	+0.0136%	1h	1,049.4	−0.045%	$32K	$1K	10x	as long as short
Bybit MUUSDT	+0.0180%	8h	1,050.2	+0.028%	$19.2M	$32.5M	100x	as long as short
Coinbase International MU-PERP-INTX	+0.0184%	1h	1,048.4	−0.145%	$759K	$1.2M	10x	as long as short
Variational Omni MU	+0.0211%	8h	1,049.7	−0.019%	$2.7M	$2.4M	—	as long as short
Aster MUUSD1	+0.0219%	8h	1,049.2	−0.069%	$21.6M	$48.3M	20x	as long as short
Binance MUUSDTlong	+0.0224%	8h	1,049.9	long leg	$126.0M	$524.2M	50x
Arcus MU-USD	+0.0240%	1h	1,049.2	−0.065%	$71K	$243K	10x	as long as short
Bullet MU-USD	+0.0245%	1h	1,049.8	−0.008%	$26K	$395K	10x	as long as short
tradeXYZ xyz:MU	+0.0281%	1h	1,049.6	−0.027%	$178.0M	$101.1M	10x	as long as short
RISEx MU/USDC	+0.0312%	1h	1,049.8	−0.004%	$316K	$339K	20x	as long as short
Bitget MUUSDT	+0.0331%	8h	1,049.9	−0.002%	$20.6M	$41.6M	50x	as long as short
BloFin MU-USDT	+0.0342%	8h	1,049.6	−0.024%	$1.5M	$2.0M	20x	as long as short
Phoenix MU	+0.0383%	1h	1,048.3	−0.151%	$536K	$306K	15x	as long as short
Extended MU_24_5-USD	+0.0416%	1h	1,049	−0.081%	$566K	$1.2M	10x	as long as short
GRVT MU_USDT_Perp	+0.0570%	8h	1,048.5	−0.131%	$83K	$1.3M	10x	as long as short