Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0135%/8h= −14.7% APRpaid last 24h −0.011%

Price spread now: SoDEX against Bybit−0.016%7-day average −0.020% · 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−$37as in the Price arb table

costs, in and out, $10k−$370.374% of the position

Long on Bybit Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.004%$0 on $10k

Price spread, last 3 days (all we have)−0.019%−$2 · spread now −0.016%, 7d avg −0.020%

Together, before fees−0.015%−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.020%, so right now this pair is about funding alone: −$4 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	1,051.7	0.0196	pay 0.0196% / 8h	7h 04m	$19.4M	$32.6M	100x
Short	SoDEX MU-USD	1,051.5	0.0061	get 0.0008% / 1h	4m 33s	$690K	$16K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.016%Rate

Funding earned: −$28.29
Price spread: −0.016% → −0.020%: $0.35
Slippage, 4 orders: −$18.43
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$65.36
Costs to cover: 0.374%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; SoDEX: live order book, 4 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, 4 min ago	0.76 bp	7.1 bp −$7	9.8 bp −$98	38.9 bp −$3,890	doesn't fit
Sell SoDEX live order book, 4 min ago	0.05 bp	11.9 bp −$12	41.5 bp −$415	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	−0.0631%	4h	1,051.5	−0.015%	$1.3M	$671K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,051.2	−0.048%	$62.7M	$29.1M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,050.4	−0.117%	$190K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,052.5	+0.083%	$11K	$6.1M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,051.2	−0.045%	$129K	$424K	50x	as long as short
Aftermath Perps MUUSD	+0.0022%	1h	1,051.1	−0.052%	$3K	$45K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,051.3	−0.032%	$1.2M	$4.2M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	−0.028%	$19K	$5K	12x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,052.3	+0.057%	—	$179K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,051.3	−0.033%	$171K	$203K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MU-USD.P	+0.0050%	1h	1,050.4	−0.124%	$2.0M	$2.3M	10x	as long as short
QFEX MU-USD	+0.0054%	1h	1,051.3	−0.032%	$7.6M	$21.1M	10x	as long as short
Lighter MU	+0.0056%	1h	1,051.3	−0.036%	$1.1M	$4.8M	20x	as long as short
SoDEX MU-USDshort	+0.0061%	1h	1,051.5	−0.016%	$690K	$16K	10x
Paradex MU-USD-PERP	+0.0084%	8h	1,051.6	−0.004%	$2K	—	5x	as long as short
Nado MU-PERP	+0.0087%	1h	1,051	−0.063%	$274K	$858K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,051.3	−0.037%	$149K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,051.4	−0.027%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,050.6	−0.096%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,051.5	−0.011%	$836	$799	20x	as long as short
OKX MU-USDT-SWAP	+0.0107%	8h	1,051.4	−0.028%	$31.0M	$101.6M	50x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0131%	1h	1,051.4	−0.021%	$65K	$312K	10x	as long as short
Aevo MU-PERP	+0.0152%	1h	1,051.3	−0.030%	$32K	$1K	10x	as long as short
Bullet MU-USD	+0.0175%	1h	1,051.6	−0.002%	$26K	$396K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0184%	1h	1,050.5	−0.111%	$762K	$1.2M	10x	as long as short
Bybit MUUSDTlong	+0.0196%	8h	1,051.7	long leg	$19.4M	$32.6M	100x
tradeXYZ xyz:MU	+0.0200%	1h	1,051.2	−0.043%	$178.5M	$100.1M	10x	as long as short
Arcus MU-USD	+0.0240%	1h	1,051.2	−0.045%	$71K	$242K	10x	as long as short
Variational Omni MU	+0.0256%	8h	1,051.6	−0.009%	$2.7M	$2.4M	—	as long as short
Aster MUUSD1	+0.0267%	8h	1,051	−0.064%	$21.6M	$48.4M	20x	as long as short
Binance MUUSDT	+0.0270%	8h	1,051.4	−0.022%	$126.4M	$521.4M	50x	as long as short
Extended MU_24_5-USD	+0.0296%	1h	1,050.7	−0.089%	$564K	$1.2M	10x	as long as short
RISEx MU/USDC	+0.0312%	1h	1,051.5	−0.015%	$316K	$339K	20x	as long as short
Phoenix MU	+0.0383%	1h	1,051.6	−0.005%	$538K	$306K	15x	as long as short
BloFin MU-USDT	+0.0389%	8h	1,051.5	−0.014%	$1.5M	$2.0M	20x	as long as short
Bitget MUUSDT	+0.0418%	8h	1,051.5	−0.016%	$20.6M	$41.6M	50x	as long as short
GRVT MU_USDT_Perp	+0.0569%	8h	1,051.2	−0.043%	$83K	$1.3M	10x	as long as short