Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0051%/8h= +5.5% APRpaid last 24h −0.009%

Price spread now: Orderly against Bullet−0.010%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bullet Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet MU-USD	1,052.6	0.0049	pay 0.0006% / 1h	19m 18s	$25K	$396K	10x
Short	Orderly PERP_MU_USDC_mythos	1,052.5	0.0100	get 0.0100% / 8h	4h 19m	$837	$799	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Bullet. 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 BulletbpFee OrderlybpOrdersPrice spread, now −0.010%Rate

Funding earned: $10.62
Price spread: −0.010% → 0.000%: −$0.95
Slippage, 4 orders: no order book: not counted
Fee Bullet: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$4.33
Costs to cover: 0.140%
Break-even: 9.9 days

Slippage unknown: Bullet: live order book, 40 min ago; Orderly: no order-book sample. Net counts fees only.

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 Bullet live order book, 40 min ago	1.42 bp	7.1 bp −$7	21.0 bp −$210	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0836%	4h	1,052.4	−0.019%	$1.3M	$672K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,052.8	+0.023%	$21.5M	$55.0M	20x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,052.6	−0.001%	$31.2M	$99.7M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,052.8	+0.017%	$334K	$348K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,052.5	−0.008%	$62.3M	$27.5M	75x	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,052.9	+0.028%	$82K	$1.4M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,052.7	+0.010%	$190K	$3.4M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,052.5	−0.010%	$11K	$5.8M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,052.4	−0.016%	$70K	$435K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,052.4	−0.022%	$131K	$435K	50x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MU	+0.0012%	8h	1,053	+0.041%	$2.7M	$2.4M	—	as long as short
Aftermath Perps MUUSD	+0.0021%	1h	1,052.5	−0.013%	$3K	$44K	10x	as long as short
Bybit MUUSDT	+0.0024%	8h	1,052.9	+0.025%	$19.1M	$32.3M	100x	as long as short
Lighter RH MU	+0.0032%	1h	1,052.6	0.000%	$1.3M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,051.8	−0.076%	$566K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	−0.118%	$19K	$5K	12x	as long as short
QFEX MU-USD	+0.0034%	1h	1,052.4	−0.021%	$7.1M	$17.9M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,052.5	−0.008%	$71K	$234K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,053.7	+0.103%	—	$176K	25x	as long as short
Nado MU-PERP	+0.0048%	1h	1,052.4	−0.023%	$282K	$837K	10x	as long as short
Bullet MU-USDlong	+0.0049%	1h	1,052.6	long leg	$25K	$396K	10x
Polymarket Perps MU-USD	+0.0050%	1h	1,052.2	−0.038%	$171K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,052.4	−0.018%	$691K	$16K	10x	as long as short
Binance MUUSDT	+0.0050%	8h	1,052.6	−0.004%	$126.8M	$516.6M	50x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,052.4	−0.022%	$1.9M	$2.2M	10x	as long as short
Paradex MU-USD-PERP	+0.0052%	8h	1,052.8	+0.018%	$2K	—	5x	as long as short
Lighter MU	+0.0056%	1h	1,052.5	−0.007%	$1.1M	$5.1M	20x	as long as short
tradeXYZ xyz:MU	+0.0075%	1h	1,052.2	−0.038%	$178.8M	$99.0M	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0080%	1h	1,052.9	+0.028%	$759K	$1.2M	10x	as long as short
Bitget MUUSDT	+0.0095%	8h	1,052.7	+0.008%	$20.5M	$41.1M	50x	as long as short
Aevo MU-PERP	+0.0096%	1h	1,052.1	−0.044%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,052.6	+0.001%	$148K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,052.3	−0.025%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,052.6	0.000%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythosshort	+0.0100%	8h	1,052.5	−0.010%	$837	$799	20x
BloFin MU-USDT	+0.0173%	8h	1,053.2	+0.055%	$1.5M	$2.0M	20x	as long as short
Phoenix MU	+0.0304%	1h	1,053.3	+0.067%	$539K	$271K	15x	as long as short