Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0016%/8h= +1.8% APRpaid last 24h +0.005%

Price spread now: Nado against Binance+0.008%48s7-day average −0.030% · 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−$240.235% of the position

Long on Binance Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.044%−$4 on $10k

Price spread, last 7 days−0.162%−$16 · spread now +0.008%, 7d avg −0.030%

Together, before fees−0.205%+ Points / potential airdropNado: Active · farm board−$21 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Nado is 0.038% dearer against Binance than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.030%. The two prices were read 48 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	1,038	0	get 0.0000% / 8h	18m 43s	$122.3M	$538.4M	50x
Short	Nado MU-PERP	1,038	0.0016	get 0.0002% / 1h	18m 43s	$280K	$805K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.008%Rate

Funding earned: $3.37
Price spread: +0.008% → −0.030%: $3.75
Slippage, 4 orders: −$6.52
Fee Binance: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$16.39
Costs to cover: 0.235%
Break-even: 41.0 days

Slippage from Binance: live order book, 10 min ago; Nado: live order book, 19 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, 10 min ago	0.05 bp	5.8 bp −$6	7.6 bp −$76	18.0 bp −$1,795	doesn't fit
Sell Nado live order book, 19 min ago	0.05 bp	5.5 bp −$6	27.5 bp −$275	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	−0.0298%	4h	1,036.5	−0.142%	$1.3M	$673K	10x	as long as short
Bitget MUUSDT	−0.0182%	8h	1,038.3	+0.029%	$20.2M	$40.1M	50x	as long as short
Aster MUUSD1	0.0000%	8h	1,038.3	+0.033%	$21.2M	$66.3M	20x	as long as short
Binance MUUSDTlong	0.0000%	8h	1,038	long leg	$122.3M	$538.4M	50x
Bybit MUUSDT	0.0000%	8h	1,038	+0.005%	$18.8M	$32.3M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,038	+0.005%	$29.8M	$100.2M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,038.2	+0.029%	$313K	$384K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,038	+0.002%	$61.5M	$28.4M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,037.5	−0.039%	$2.5M	$2.6M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,038	+0.004%	$71K	$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	1,037.9	−0.004%	$188K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,040	+0.197%	$11K	$5.5M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,038.1	+0.017%	$74K	$616K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,037.8	−0.017%	$126K	$480K	50x	as long as short
Bullet MU-USD	+0.0010%	1h	1,038.5	+0.051%	$26K	$389K	10x	as long as short
Nado MU-PERPshort	+0.0016%	1h	1,038	+0.008%	$280K	$805K	10x
Aftermath Perps MUUSD	+0.0018%	1h	1,037	−0.092%	$3K	$44K	10x	as long as short
QFEX MU-USD	+0.0021%	1h	1,038	+0.007%	$7.0M	$18.8M	10x	as long as short
Lighter MU	+0.0032%	1h	1,038	+0.007%	$1.0M	$4.9M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,037.9	−0.005%	$1.1M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,037.5	−0.039%	$545K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.292%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,037.3	−0.067%	$90K	$245K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,038.2	+0.019%	—	$175K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,037.8	−0.014%	$176.4M	$81.4M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,038.2	+0.024%	$168K	$195K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,038.3	+0.037%	$681K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,037.4	−0.054%	$1.8M	$2.7M	10x	as long as short
Paradex MU-USD-PERP	+0.0050%	8h	1,038	+0.008%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,037.9	−0.003%	$32K	$1K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0080%	1h	1,036.7	−0.121%	$725K	$1.2M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,037.8	−0.019%	$144K	$192K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,037.7	−0.021%	$5.2M	$4.0M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,037.3	−0.060%	$70K	$270K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,038.4	+0.045%	$826	$799	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,038.3	+0.036%	$1.5M	$2.1M	20x	as long as short
Phoenix MU	+0.0232%	1h	1,037.8	−0.014%	$531K	$270K	15x	as long as short