Funding arb · Price arb /

MU

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0840%/8h= +91.9% APRpaid last 24h −0.007%

Price spread now: Arcus against edgeX+0.023%54s7-day average −0.042% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$300.300% of the position

Long on edgeX Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.178%−$18 on $10k

Price spread, last 4 days (all we have)+0.304%+$30 · spread now +0.023%, 7d avg −0.042%

Together, before fees+0.126%+ Points / potential airdropedgeX: Active · farm board+$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$25 a day on $10k at the current rate, and Arcus is 0.064% dearer against edgeX than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.042%. Mind the row above: over the last 4 days funding on this pair cost −0.178%, so the current rate has only just turned in your favour. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.178% in total (about -18.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX MUUSDC	1,052	−0.0799	get 0.0400% / 4h	22m 16s	$1.3M	$671K	10x
Short	Arcus MU-USD	1,052.2	0.0040	get 0.0005% / 1h	22m 16s	$71K	$234K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against edgeX. 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 edgeXbpFee ArcusbpOrdersPrice spread, now +0.023%Rate

Funding earned: $176.33
Price spread: +0.023% → −0.042%: $6.43
Slippage, 4 orders: −$16.46
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $152.8
Costs to cover: 0.300%
Break-even: 0.9 days

Slippage from edgeX: live order book, 2 min ago; Arcus: live order book, 36 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 edgeX live order book, 2 min ago	0.28 bp	4.9 bp −$5	6.6 bp −$66	30.0 bp −$2,998	doesn't fit
Sell Arcus live order book, 36 min ago	3.42 bp	11.7 bp −$12	14.7 bp −$147	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 MUUSDClong	−0.0799%	4h	1,052	long leg	$1.3M	$671K	10x
Aster MUUSD1	0.0000%	8h	1,053.3	+0.123%	$21.5M	$55.0M	20x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,053.3	+0.121%	$31.2M	$99.8M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,053.3	+0.125%	$334K	$348K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,053	+0.100%	$62.4M	$27.5M	75x	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,052.6	+0.058%	$82K	$1.3M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,052.2	+0.025%	$190K	$3.4M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,053.3	+0.126%	$11K	$5.8M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,053.2	+0.112%	$131K	$434K	50x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0016%	1h	1,053	+0.101%	$70K	$432K	10x	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	+0.0020%	8h	1,052	0.000%	$2.7M	$2.4M	—	as long as short
Aftermath Perps MUUSD	+0.0021%	1h	1,052.1	+0.013%	$3K	$44K	10x	as long as short
Bybit MUUSDT	+0.0029%	8h	1,053.6	+0.149%	$19.1M	$32.3M	100x	as long as short
Lighter RH MU	+0.0032%	1h	1,053.3	+0.121%	$1.3M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,052.5	+0.048%	$566K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	−0.059%	$19K	$5K	12x	as long as short
QFEX MU-USD	+0.0034%	1h	1,052.8	+0.081%	$7.2M	$17.9M	10x	as long as short
Arcus MU-USDshort	+0.0040%	1h	1,052.2	+0.023%	$71K	$234K	10x
Vest MU-USD-PERP	+0.0046%	1h	1,054.1	+0.203%	—	$176K	25x	as long as short
Bullet MU-USD	+0.0048%	1h	1,053.2	+0.115%	$25K	$396K	10x	as long as short
Nado MU-PERP	+0.0050%	1h	1,052.5	+0.053%	$282K	$837K	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,052.8	+0.078%	$171K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,053	+0.101%	$691K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,051.6	−0.038%	$1.9M	$2.2M	10x	as long as short
Paradex MU-USD-PERP	+0.0052%	8h	1,053.1	+0.102%	$2K	—	5x	as long as short
Binance MUUSDT	+0.0053%	8h	1,053.4	+0.130%	$126.9M	$516.6M	50x	as long as short
Lighter MU	+0.0056%	1h	1,053.4	+0.132%	$1.1M	$5.1M	20x	as long as short
tradeXYZ xyz:MU	+0.0076%	1h	1,052.9	+0.087%	$179.0M	$98.9M	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0080%	1h	1,052.9	+0.086%	$759K	$1.2M	10x	as long as short
Bitget MUUSDT	+0.0093%	8h	1,053.2	+0.116%	$20.5M	$41.1M	50x	as long as short
Aevo MU-PERP	+0.0096%	1h	1,052.8	+0.077%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,052.4	+0.044%	$148K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,052.9	+0.084%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,052.4	+0.041%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,053.2	+0.119%	$837	$799	20x	as long as short
BloFin MU-USDT	+0.0174%	8h	1,052.9	+0.087%	$1.5M	$2.0M	20x	as long as short
Phoenix MU	+0.0304%	1h	1,052.5	+0.049%	$538K	$271K	15x	as long as short