Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0451%/8h= +49.3% APRpaid last 24h +0.039%

Price spread now: ApeX Omni against HTX+0.008%76s7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$39as in the Funding arb table

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

costs, in and out, $10k−$570.572% of the position

Long on HTX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.185%+$19 on $10k

Price spread, last 3 days (all we have)+0.001%$0 · spread now +0.008%, 7d avg +0.002%

Together, before fees+0.186%+$19 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.002%, so right now this pair is about funding alone: +$14 a day on $10k at the current rate. The two prices were read 76 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 7 days it paid 0.185% in total (about 9.6% 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	HTX MU-USDT	1,048.3	0	get 0.0000% / 8h	7h 53m	$130K	$418K	50x
Short	ApeX Omni MUUSDT	1,048.3	0.0451	get 0.0056% / 1h	53m 56s	$71K	$267K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against HTX. 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 HTXbpFee ApeX OmnibpOrdersPrice spread, now +0.008%Rate

Funding earned: $94.63
Price spread: +0.008% → +0.002%: $0.58
Slippage, 4 orders: −$35.18
Fee HTX: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $38.03
Costs to cover: 0.572%
Break-even: 4.2 days

Slippage from HTX: live order book, 19 min ago; ApeX Omni: live order book, 18 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 HTX live order book, 19 min ago	1.72 bp	10.3 bp −$10	14.8 bp −$148	20.1 bp −$2,006	doesn't fit
Sell ApeX Omni live order book, 18 min ago	7.41 bp	19.7 bp −$20	176.7 bp −$1,767	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	−0.0946%	4h	1,047	−0.124%	$1.3M	$671K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,048.6	+0.031%	$63.2M	$28.3M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,047.1	−0.107%	$189K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,050.3	+0.193%	$11K	$6.4M	10x	as long as short
HTX MU-USDTlong	0.0000%	8h	1,048.3	long leg	$130K	$418K	50x
Aftermath Perps MUUSD	+0.0023%	1h	1,046.2	−0.194%	$3K	$44K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,048.2	−0.005%	$1.2M	$4.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.235%	$14K	$251	12x	as long as short
Lighter MU	+0.0040%	1h	1,048.4	+0.014%	$1.1M	$4.7M	20x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,049	+0.069%	—	$194K	25x	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	1,047.6	−0.063%	$2.0M	$2.3M	10x	as long as short
QFEX MU-USD	+0.0054%	1h	1,048.5	+0.026%	$7.9M	$23.5M	10x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0055%	1h	1,048.5	+0.023%	$62K	$292K	10x	as long as short
Nado MU-PERP	+0.0073%	1h	1,048.4	+0.017%	$271K	$859K	10x	as long as short
OKX MU-USDT-SWAP	+0.0087%	8h	1,048.7	+0.044%	$30.9M	$101.7M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,048.4	+0.014%	$153K	$180K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,047.9	−0.037%	$5.3M	$3.7M	20x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,048.6	+0.033%	$834	$799	20x	as long as short
Paradex MU-USD-PERP	+0.0108%	8h	1,049	+0.075%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0128%	1h	1,048.6	+0.030%	$34K	—	10x	as long as short
Bitget MUUSDT	+0.0149%	8h	1,048.4	+0.017%	$20.6M	$41.5M	50x	as long as short
Variational Omni MU	+0.0168%	8h	1,048.2	−0.009%	$2.7M	$2.5M	—	as long as short
Aster MUUSD1	+0.0177%	8h	1,047.9	−0.031%	$21.6M	$47.8M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0184%	1h	1,046.7	−0.152%	$759K	$1.3M	10x	as long as short
Binance MUUSDT	+0.0185%	8h	1,048.7	+0.039%	$125.4M	$525.7M	50x	as long as short
GRVT MU_USDT_Perp	+0.0195%	8h	1,048	−0.027%	$82K	$1.4M	10x	as long as short
Arcus MU-USD	+0.0240%	1h	1,047.2	−0.101%	$71K	$243K	10x	as long as short
BloFin MU-USDT	+0.0303%	8h	1,048.4	+0.015%	$1.5M	$2.0M	20x	as long as short
RISEx MU/USDC	+0.0312%	1h	1,048.7	+0.042%	$315K	$339K	20x	as long as short
Bybit MUUSDT	+0.0398%	8h	1,048.9	+0.061%	$19.2M	$32.5M	100x	as long as short
SoDEX MU-USD	+0.0418%	1h	1,048.4	+0.014%	$688K	$16K	10x	as long as short
ApeX Omni MUUSDTshort	+0.0451%	1h	1,048.3	+0.008%	$71K	$267K	50x
Phoenix MU	+0.0460%	1h	1,048	−0.024%	$536K	$306K	15x	as long as short
Extended MU_24_5-USD	+0.0616%	1h	1,048	−0.028%	$550K	$1.0M	10x	as long as short
Polymarket Perps MU-USD	+0.0781%	1h	1,048.4	+0.014%	$170K	$202K	10x	as long as short
Bullet MU-USD	+0.1027%	1h	1,048.7	+0.043%	$26K	$394K	10x	as long as short
tradeXYZ xyz:MU	+0.1040%	1h	1,048.5	+0.024%	$177.7M	$100.4M	10x	as long as short