Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0511%/8h= −56.0% APRpaid last 24h −0.036%

Price spread now: Variational Omni against Extended+0.085%7-day average +0.048% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Extended Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.006%+$1 on $10k

Price spread, last 4 days (all we have)+0.010%+$1 · spread now +0.085%, 7d avg +0.048%

Together, before fees+0.017%+ Points / potential airdropExtended: Active · Variational Omni: Active · farm board+$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.037% dearer against Extended than usual: you sell high and buy low (spread +0.085% now, against its 7-day average of +0.048%): +$4 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 6 hours.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.006% in total (about 0.7% 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	Extended MU_24_5-USD	1,042.9	0.0640	pay 0.0080% / 1h	30m 04s	$541K	$1.1M	10x
Short	Variational Omni MU	1,043.8	0.0129	get 0.0129% / 8h	1h 30m	$2.6M	$2.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Extended. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ExtendedbpFee Variational OmnibpOrdersPrice spread, now +0.085%Rate

Funding earned: −$107.34
Price spread: +0.085% → +0.048%: $3.7
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$108.64
Costs to cover: 0.050%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 3 min ago; Variational Omni: RFQ quote, 4 min ago. Net counts fees only.

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 Extended live order book, 3 min ago	0.05 bp	3.3 bp −$3	9.2 bp −$92	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	1.91 bp	doesn't fit	3.4 bp −$34	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	−0.0683%	4h	1,044.2	+0.121%	$1.3M	$673K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,043.8	+0.081%	$62.9M	$29.0M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,043.1	+0.015%	$189K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,046.3	+0.325%	$11K	$6.6M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,043.8	+0.084%	$125K	$441K	50x	as long as short
OKX MU-USDT-SWAP	+0.0023%	8h	1,043.9	+0.096%	$30.9M	$104.8M	50x	as long as short
Aftermath Perps MUUSD	+0.0030%	1h	1,043.7	+0.073%	$3K	$45K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,043.7	+0.072%	$1.2M	$4.2M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.745%	$14K	$302	12x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,043.5	+0.054%	—	$194K	25x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps MU-USD	+0.0050%	1h	1,043.8	+0.082%	$165K	$184K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,043.9	+0.089%	$685K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,042.8	−0.012%	$2.0M	$2.7M	10x	as long as short
Aster MUUSD1	+0.0067%	8h	1,044.4	+0.141%	$21.5M	$47.4M	20x	as long as short
QFEX MU-USD	+0.0071%	1h	1,043.9	+0.092%	$7.8M	$24.2M	10x	as long as short
Bitget MUUSDT	+0.0093%	8h	1,044	+0.098%	$20.4M	$43.0M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,043.5	+0.056%	$154K	$182K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,043.1	+0.015%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,043.5	+0.050%	$71K	$266K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,044.1	+0.106%	$830	$799	20x	as long as short
Aevo MU-PERP	+0.0120%	1h	1,043.7	+0.073%	$33K	—	10x	as long as short
Variational Omni MUshort	+0.0129%	8h	1,043.8	+0.085%	$2.6M	$2.7M	—
Paradex MU-USD-PERP	+0.0130%	8h	1,043.8	+0.081%	$2K	—	5x	as long as short
Binance MUUSDT	+0.0147%	8h	1,044.1	+0.112%	$124.9M	$536.3M	50x	as long as short
Coinbase International MU-PERP-INTX	+0.0184%	1h	1,043.9	+0.089%	$756K	$1.4M	10x	as long as short
Lighter MU	+0.0192%	1h	1,043.8	+0.083%	$1.0M	$4.8M	20x	as long as short
Nado MU-PERP	+0.0204%	1h	1,043	+0.005%	$282K	$858K	10x	as long as short
GRVT MU_USDT_Perp	+0.0205%	8h	1,044.4	+0.139%	$82K	$1.4M	10x	as long as short
Bybit MUUSDT	+0.0231%	8h	1,044.3	+0.128%	$19.1M	$32.6M	100x	as long as short
BloFin MU-USDT	+0.0266%	8h	1,044	+0.103%	$1.4M	$2.0M	20x	as long as short
Bullet MU-USD	+0.0266%	1h	1,044	+0.101%	$25K	$397K	10x	as long as short
tradeXYZ xyz:MU	+0.0339%	1h	1,043.8	+0.082%	$176.4M	$107.1M	10x	as long as short
Phoenix MU	+0.0383%	1h	1,044.6	+0.159%	$534K	$306K	15x	as long as short
Arcus MU-USD	+0.0435%	1h	1,043.4	+0.046%	$73K	$241K	10x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0450%	1h	1,043.6	+0.066%	$61K	$246K	10x	as long as short
RISEx MU/USDC	+0.0499%	1h	1,044.3	+0.131%	$285K	$333K	20x	as long as short
Extended MU_24_5-USDlong	+0.0640%	1h	1,042.9	long leg	$541K	$1.1M	10x