Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: ApeX Omni against Gate−0.066%7-day average +0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$600.602% of the position

Long on Gate Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.185%+$18 on $10k

Price spread, last 4 days (all we have)+0.046%+$5 · spread now −0.066%, 7d avg +0.027%

Together, before fees+0.231%+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.094% cheaper against Gate than usual: you would sell low and buy high (spread −0.066% now, against its 7-day average of +0.027%). If the spread goes back, that is −$9 on $10k: about 3.1 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MU_USDT	1,053.1	0	get 0.0000% / 8h	4h 21m	$62.4M	$27.5M	75x
Short	ApeX Omni MUUSDT	1,052.4	0.0100	get 0.0013% / 1h	21m 16s	$71K	$268K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Gate. 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 GatebpFee ApeX OmnibpOrdersPrice spread, now −0.066%Rate

Funding earned: $21
Price spread: −0.066% → +0.027%: −$9.38
Slippage, 4 orders: −$35.22
Fee Gate: 7.5 bp × 2 orders: −$15
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$48.59
Costs to cover: 0.602%
Break-even: 23.2 days

Slippage from Gate: live order book, 3 min ago; ApeX Omni: 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 Gate live order book, 3 min ago	1.19 bp	12.8 bp −$13	14.4 bp −$144	40.5 bp −$4,054	74.5 bp −$37.2K
Sell ApeX Omni live order book, 36 min ago	7.55 bp	19.4 bp −$19	189.5 bp −$1,895	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	−0.0836%	4h	1,052.4	−0.067%	$1.3M	$672K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,053.3	+0.018%	$21.5M	$55.0M	20x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,053.2	+0.006%	$31.2M	$99.7M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,053.4	+0.030%	$334K	$348K	20x	as long as short
Gate MU_USDTlong	0.0000%	8h	1,053.1	long leg	$62.4M	$27.5M	75x
GRVT MU_USDT_Perp	0.0000%	8h	1,052.9	−0.021%	$82K	$1.4M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,052.8	−0.034%	$190K	$3.4M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,053.1	−0.002%	$11K	$5.8M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,052.7	−0.037%	$70K	$433K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,053.2	+0.005%	$131K	$434K	50x	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	−0.107%	$2.7M	$2.4M	—	as long as short
Aftermath Perps MUUSD	+0.0021%	1h	1,052.2	−0.083%	$3K	$44K	10x	as long as short
Bybit MUUSDT	+0.0026%	8h	1,053.4	+0.028%	$19.1M	$32.3M	100x	as long as short
Lighter RH MU	+0.0032%	1h	1,053.2	+0.004%	$1.3M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,052.3	−0.077%	$566K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	−0.166%	$19K	$5K	12x	as long as short
QFEX MU-USD	+0.0034%	1h	1,053.1	+0.002%	$7.1M	$17.9M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,052.5	−0.063%	$71K	$234K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,054.3	+0.111%	—	$176K	25x	as long as short
Bullet MU-USD	+0.0048%	1h	1,053.3	+0.018%	$25K	$396K	10x	as long as short
Nado MU-PERP	+0.0049%	1h	1,052.9	−0.022%	$282K	$837K	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,052.9	−0.020%	$171K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,053	−0.015%	$691K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,052.6	−0.052%	$1.9M	$2.2M	10x	as long as short
Paradex MU-USD-PERP	+0.0052%	8h	1,053.2	+0.012%	$2K	—	5x	as long as short
Binance MUUSDT	+0.0053%	8h	1,053.1	+0.001%	$126.8M	$516.6M	50x	as long as short
Lighter MU	+0.0056%	1h	1,053.3	+0.017%	$1.1M	$5.1M	20x	as long as short
tradeXYZ xyz:MU	+0.0076%	1h	1,052.8	−0.029%	$179.0M	$99.0M	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0080%	1h	1,052.9	−0.021%	$759K	$1.2M	10x	as long as short
Bitget MUUSDT	+0.0095%	8h	1,053.2	+0.011%	$20.5M	$41.1M	50x	as long as short
Aevo MU-PERP	+0.0096%	1h	1,052.7	−0.036%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,052.7	−0.040%	$148K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,053	−0.015%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDTshort	+0.0100%	1h	1,052.4	−0.066%	$71K	$268K	50x
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,053	−0.011%	$837	$799	20x	as long as short
BloFin MU-USDT	+0.0174%	8h	1,052.9	−0.020%	$1.5M	$2.0M	20x	as long as short
Phoenix MU	+0.0304%	1h	1,053.3	+0.018%	$539K	$271K	15x	as long as short