Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0177%/8h= +19.3% APRpaid last 24h +0.028%

Price spread now: Extended against Bybit−0.102%7-day average −0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$220.222% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.055%+$6 on $10k

Price spread, last 4 days (all we have)+0.012%+$1 · spread now −0.102%, 7d avg −0.043%

Together, before fees+0.067%+ Points / potential airdropExtended: Active · farm board+$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. Extended is 0.058% cheaper against Bybit than usual: you would sell low and buy high (spread −0.102% now, against its 7-day average of −0.043%). If the spread goes back, that is −$6 on $10k: about 26 hours of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.055% in total) that is about 7.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MUUSDT	1,045.5	0.0271	pay 0.0271% / 8h	26m 25s	$19.2M	$32.5M	100x
Short	Extended MU_24_5-USD	1,044.4	0.0448	get 0.0056% / 1h	26m 25s	$541K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.102%Rate

Funding earned: $37.08
Price spread: −0.102% → −0.043%: −$5.85
Slippage, 4 orders: −$6.2
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $9.03
Costs to cover: 0.222%
Break-even: 5.3 days

Slippage from Bybit: live order book, 2 min ago; Extended: live order book, 2 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, 2 min ago	0.05 bp	7.6 bp −$8	12.4 bp −$124	34.6 bp −$3,462	doesn't fit
Sell Extended live order book, 2 min ago	0.05 bp	3.0 bp −$3	9.8 bp −$98	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	−0.0857%	4h	1,045.2	−0.025%	$1.3M	$672K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,045.2	−0.033%	$63.0M	$29.1M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,044.9	−0.059%	$189K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,046.7	+0.116%	$11K	$6.5M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,044.9	−0.059%	$129K	$455K	50x	as long as short
Aftermath Perps MUUSD	+0.0031%	1h	1,044.8	−0.066%	$3K	$45K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,045.1	−0.034%	$1.2M	$4.2M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.498%	$14K	$302	12x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,045.5	−0.003%	—	$194K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,045	−0.048%	$169K	$189K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX MU-USD	+0.0050%	1h	1,045	−0.053%	$686K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,043.9	−0.152%	$2.0M	$2.7M	10x	as long as short
OKX MU-USDT-SWAP	+0.0076%	8h	1,045.3	−0.020%	$30.8M	$105.0M	50x	as long as short
QFEX MU-USD	+0.0080%	1h	1,045.2	−0.033%	$7.8M	$23.9M	10x	as long as short
Lighter MU	+0.0096%	1h	1,045.2	−0.029%	$1.0M	$4.9M	20x	as long as short
Pacifica MU	+0.0100%	1h	1,045.3	−0.019%	$153K	$182K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,045	−0.053%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,045.6	+0.011%	$71K	$266K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,045	−0.044%	$831	$799	20x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0114%	1h	1,044.8	−0.069%	$62K	$271K	10x	as long as short
Paradex MU-USD-PERP	+0.0121%	8h	1,045.2	−0.028%	$2K	—	5x	as long as short
Bitget MUUSDT	+0.0122%	8h	1,045	−0.044%	$20.4M	$43.6M	50x	as long as short
Aevo MU-PERP	+0.0128%	1h	1,044.9	−0.057%	$33K	—	10x	as long as short
Bullet MU-USD	+0.0132%	1h	1,045.4	−0.011%	$25K	$394K	10x	as long as short
Aster MUUSD1	+0.0161%	8h	1,045.5	+0.002%	$21.5M	$47.3M	20x	as long as short
Nado MU-PERP	+0.0177%	1h	1,044.8	−0.071%	$271K	$875K	10x	as long as short
Variational Omni MU	+0.0191%	8h	1,045.3	−0.015%	$2.7M	$2.5M	—	as long as short
Binance MUUSDT	+0.0193%	8h	1,045.4	−0.013%	$124.3M	$533.1M	50x	as long as short
tradeXYZ xyz:MU	+0.0218%	1h	1,045.2	−0.029%	$176.6M	$105.1M	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0224%	1h	1,045.1	−0.039%	$757K	$1.3M	10x	as long as short
GRVT MU_USDT_Perp	+0.0235%	8h	1,045.3	−0.020%	$82K	$1.4M	10x	as long as short
Bybit MUUSDTlong	+0.0271%	8h	1,045.5	long leg	$19.2M	$32.5M	100x
BloFin MU-USDT	+0.0314%	8h	1,045.1	−0.036%	$1.5M	$2.0M	20x	as long as short
Extended MU_24_5-USDshort	+0.0448%	1h	1,044.4	−0.102%	$541K	$1.1M	10x
Phoenix MU	+0.0460%	1h	1,045.3	−0.019%	$535K	$306K	15x	as long as short
Arcus MU-USD	+0.0462%	1h	1,045	−0.044%	$70K	$244K	10x	as long as short
RISEx MU/USDC	+0.0525%	1h	1,045.7	+0.022%	$316K	$339K	20x	as long as short