Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h −0.007%

Price spread now: Arcus against Bybit−0.061%7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$300.298% of the position

Long on Bybit Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.095%+$10 on $10k

Price spread, last 4 days (all we have)+0.050%+$5 · spread now −0.061%, 7d avg −0.042%

Together, before fees+0.145%+$15 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.042%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MUUSDT	1,043.2	0.0186	pay 0.0186% / 8h	2h 11m	$19.1M	$32.5M	100x
Short	Arcus MU-USD	1,042.5	0.0226	get 0.0028% / 1h	11m 19s	$63K	$230K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus 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 ArcusbpOrdersPrice spread, now −0.061%Rate

Funding earned: $8.35
Price spread: −0.061% → −0.042%: −$1.95
Slippage, 4 orders: −$14.28
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$23.38
Costs to cover: 0.298%
Break-even: 26.6 days

Slippage from Bybit: live order book, 7 min ago; Arcus: live order book, 12 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, 7 min ago	0.05 bp	7.9 bp −$8	11.1 bp −$111	32.4 bp −$3,236	doesn't fit
Sell Arcus live order book, 12 min ago	3.02 bp	8.7 bp −$9	9.6 bp −$96	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	−0.0320%	4h	1,043	−0.014%	$1.3M	$674K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,043.3	+0.010%	$21.5M	$46.3M	20x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,042.9	−0.023%	$30.7M	$104.3M	50x	as long as short
Gate MU_USDT	0.0000%	8h	1,042.9	−0.025%	$62.9M	$29.1M	75x	as long as short
SunX MU-USDT	0.0000%	8h	1,044.9	+0.165%	$11K	$6.7M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,042.8	−0.038%	$125K	$442K	50x	as long as short
StandX MU-USD	+0.0014%	1h	1,042.6	−0.052%	$188K	$3.3M	20x	as long as short
Aftermath Perps MUUSD	+0.0027%	1h	1,042.6	−0.051%	$3K	$44K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,042.7	−0.045%	$1.1M	$4.3M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.723%	$14K	$302	12x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MU-USD-PERP	+0.0046%	1h	1,042.5	−0.063%	—	$193K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,042.6	−0.055%	$165K	$180K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,042.9	−0.030%	$684K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,041.8	−0.136%	$2.0M	$2.6M	10x	as long as short
QFEX MU-USD	+0.0057%	1h	1,042.8	−0.035%	$7.8M	$24.1M	10x	as long as short
Bitget MUUSDT	+0.0072%	8h	1,042.8	−0.038%	$20.4M	$42.8M	50x	as long as short
Variational Omni MU	+0.0078%	8h	1,043.3	+0.011%	$2.7M	$2.7M	—	as long as short
Pacifica MU	+0.0100%	1h	1,042.3	−0.080%	$153K	$182K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,042.7	−0.049%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,042.9	−0.022%	$71K	$267K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,043	−0.013%	$829	$799	20x	as long as short
Aevo MU-PERP	+0.0104%	1h	1,042.8	−0.035%	$33K	—	10x	as long as short
Binance MUUSDT	+0.0107%	8h	1,043	−0.013%	$124.7M	$540.4M	50x	as long as short
Paradex MU-USD-PERP	+0.0120%	8h	1,042.8	−0.035%	$2K	—	5x	as long as short
Coinbase International MU-PERP-INTX	+0.0152%	1h	1,043.8	+0.062%	$756K	$1.4M	10x	as long as short
GRVT MU_USDT_Perp	+0.0174%	8h	1,043.2	+0.006%	$82K	$1.4M	10x	as long as short
Bybit MUUSDTlong	+0.0186%	8h	1,043.2	long leg	$19.1M	$32.5M	100x
Nado MU-PERP	+0.0195%	1h	1,042	−0.110%	$307K	$845K	10x	as long as short
Lighter MU	+0.0200%	1h	1,042.8	−0.039%	$999K	$4.8M	20x	as long as short
RISEx MU/USDC	+0.0202%	1h	1,043.2	+0.005%	$285K	$333K	20x	as long as short
tradeXYZ xyz:MU	+0.0211%	1h	1,042.6	−0.055%	$176.2M	$107.2M	10x	as long as short
Arcus MU-USDshort	+0.0226%	1h	1,042.5	−0.061%	$63K	$230K	10x
BloFin MU-USDT	+0.0227%	8h	1,043	−0.014%	$1.5M	$2.1M	20x	as long as short
Phoenix MU	+0.0230%	1h	1,043.3	+0.012%	$534K	$303K	15x	as long as short
Bullet MU-USD	+0.0232%	1h	1,042.9	−0.029%	$26K	$400K	10x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0287%	1h	1,042.8	−0.038%	$58K	$224K	10x	as long as short
Extended MU_24_5-USD	+0.0696%	1h	1,041.9	−0.122%	$540K	$1.1M	10x	as long as short