Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.004%

Price spread now: ApeX Omni against Bybit+0.044%7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$540.541% of the position

Long on Bybit Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.066%+$7 on $10k

Price spread, last 4 days (all we have)−0.110%−$11 · spread now +0.044%, 7d avg −0.002%

Together, before fees−0.044%−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and ApeX Omni is 0.046% dearer against Bybit than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MUUSDT	1,025.3	0	get 0.0000% / 8h	7h 25m	$18.6M	$32.4M	100x
Short	ApeX Omni MUUSDT	1,025.8	0.0100	get 0.0013% / 1h	25m 17s	$70K	$270K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bybit. 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 BybitbpFee ApeX OmnibpOrdersPrice spread, now +0.044%Rate

Funding earned: $21
Price spread: +0.044% → −0.002%: $4.58
Slippage, 4 orders: −$33.08
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$28.5
Costs to cover: 0.541%
Break-even: 16.5 days

Slippage from Bybit: live order book, 3 min ago; ApeX Omni: live order book, 7 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 Bybit live order book, 3 min ago	0.24 bp	9.5 bp −$9	11.5 bp −$115	37.6 bp −$3,765	doesn't fit
Sell ApeX Omni live order book, 7 min ago	7.26 bp	18.9 bp −$19	178.5 bp −$1,785	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	−0.0238%	4h	1,024.8	−0.056%	$1.3M	$694K	10x	as long as short
Bitget MUUSDT	−0.0017%	8h	1,025.4	+0.004%	$19.7M	$41.1M	50x	as long as short
Aster MUUSD1	0.0000%	8h	1,025.4	+0.008%	$20.9M	$69.1M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,025.3	−0.004%	$121.5M	$548.7M	50x	as long as short
Bybit MUUSDTlong	0.0000%	8h	1,025.3	long leg	$18.6M	$32.4M	100x
OKX MU-USDT-SWAP	0.0000%	8h	1,025.1	−0.021%	$29.1M	$102.3M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,025.3	0.000%	$292K	$382K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,024.9	−0.041%	$61.5M	$28.3M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,024.7	−0.060%	$2.5M	$2.6M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,025.2	−0.013%	$73K	$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	1,025.4	+0.010%	$185K	$3.6M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,026.2	+0.083%	$11K	$5.3M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,025.2	−0.018%	$119K	$492K	50x	as long as short
QFEX MU-USD	+0.0027%	1h	1,025.2	−0.010%	$6.9M	$18.9M	10x	as long as short
Aftermath Perps MUUSD	+0.0029%	1h	1,024.9	−0.042%	$3K	$43K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,024.9	−0.039%	$1.1M	$4.5M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,024.4	−0.094%	$541K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+2.538%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,024.7	−0.059%	$89K	$243K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,024.8	−0.050%	—	$179K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,024.4	−0.092%	$166K	$177K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,025.1	−0.028%	$673K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,024.1	−0.119%	$1.9M	$3.1M	10x	as long as short
Paradex MU-USD-PERP	+0.0061%	8h	1,025.2	−0.015%	$2K	—	5x	as long as short
Lighter MU	+0.0072%	1h	1,025.1	−0.020%	$990K	$5.0M	20x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,024.9	−0.043%	$31K	$1K	10x	as long as short
tradeXYZ xyz:MU	+0.0092%	1h	1,024.9	−0.043%	$173.3M	$80.3M	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0096%	1h	1,024.5	−0.082%	$716K	$1.1M	10x	as long as short
Nado MU-PERP	+0.0096%	1h	1,024.7	−0.062%	$264K	$814K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,025.2	−0.013%	$145K	$194K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,024.8	−0.052%	$5.1M	$4.7M	20x	as long as short
ApeX Omni MUUSDTshort	+0.0100%	1h	1,025.8	+0.044%	$70K	$270K	50x
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,025.2	−0.012%	$815	$799	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,025.3	−0.007%	$1.5M	$2.2M	20x	as long as short
Bullet MU-USD	+0.0132%	1h	1,025.4	+0.006%	$25K	$388K	10x	as long as short
Phoenix MU	+0.0231%	1h	1,025	−0.033%	$525K	$270K	15x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0336%	1h	1,025.2	−0.014%	$72K	$629K	10x	as long as short