Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0022%/8h= −2.4% APRpaid last 24h −0.015%

Price spread now: Bybit against Nado+0.099%7-day average +0.026% · 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−$18as in the Price arb table

costs, in and out, $10k−$250.251% of the position

Long on Nado Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.031%+$3 on $10k

Price spread, last 7 days−0.055%−$5 · spread now +0.099%, 7d avg +0.026%

Together, before fees−0.024%+ Points / potential airdropNado: Active · farm board−$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.073% dearer against Nado than usual: you sell high and buy low (spread +0.099% now, against its 7-day average of +0.026%): +$7 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado MU-PERP	1,052	0.0050	pay 0.0006% / 1h	23m 12s	$282K	$837K	10x
Short	Bybit MUUSDT	1,053	0.0029	get 0.0029% / 8h	4h 23m	$19.1M	$32.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Nado. 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 NadobpFee BybitbpOrdersPrice spread, now +0.099%Rate

Funding earned: −$4.53
Price spread: +0.099% → +0.026%: $7.32
Slippage, 4 orders: −$7.13
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$22.34
Costs to cover: 0.251%
Break-even: never at this rate

Slippage from Nado: live order book, 35 min ago; Bybit: live order book, 1 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 Nado live order book, 35 min ago	0.19 bp	5.3 bp −$5	20.7 bp −$207	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	0.28 bp	6.5 bp −$6	11.4 bp −$114	31.8 bp −$3,179	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	−0.0799%	4h	1,052	+0.001%	$1.3M	$671K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,052.7	+0.069%	$21.5M	$55.0M	20x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,052.7	+0.070%	$31.2M	$99.7M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,052.8	+0.076%	$334K	$348K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,052.5	+0.048%	$62.3M	$27.5M	75x	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,052.6	+0.059%	$82K	$1.3M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,051.7	−0.022%	$190K	$3.4M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,053	+0.094%	$11K	$5.8M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,052.9	+0.084%	$131K	$434K	50x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0007%	1h	1,052.3	+0.034%	$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	+0.001%	$2.7M	$2.4M	—	as long as short
Aftermath Perps MUUSD	+0.0021%	1h	1,052.3	+0.031%	$3K	$44K	10x	as long as short
Bybit MUUSDTshort	+0.0029%	8h	1,053	+0.099%	$19.1M	$32.3M	100x
Lighter RH MU	+0.0032%	1h	1,052.6	+0.061%	$1.3M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,051.9	−0.011%	$566K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	−0.058%	$19K	$5K	12x	as long as short
QFEX MU-USD	+0.0034%	1h	1,052.3	+0.027%	$7.1M	$17.9M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,052.1	+0.008%	$71K	$234K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,053.6	+0.157%	—	$176K	25x	as long as short
Bullet MU-USD	+0.0048%	1h	1,052.7	+0.069%	$25K	$396K	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,052.4	+0.041%	$171K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,052.5	+0.053%	$691K	$16K	10x	as long as short
Nado MU-PERPlong	+0.0050%	1h	1,052	long leg	$282K	$837K	10x
Ondo Perps MU-USD.P	+0.0050%	1h	1,051.6	−0.037%	$1.9M	$2.2M	10x	as long as short
Paradex MU-USD-PERP	+0.0052%	8h	1,052.6	+0.059%	$2K	—	5x	as long as short
Binance MUUSDT	+0.0054%	8h	1,052.8	+0.074%	$126.8M	$516.6M	50x	as long as short
Lighter MU	+0.0056%	1h	1,052.8	+0.076%	$1.1M	$5.1M	20x	as long as short
tradeXYZ xyz:MU	+0.0076%	1h	1,052.6	+0.060%	$178.9M	$98.9M	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0080%	1h	1,052.1	+0.015%	$758K	$1.2M	10x	as long as short
Bitget MUUSDT	+0.0094%	8h	1,052.6	+0.057%	$20.5M	$41.1M	50x	as long as short
Aevo MU-PERP	+0.0096%	1h	1,052.2	+0.022%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,052	+0.004%	$148K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,052.3	+0.032%	$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	1,052.5	+0.051%	$837	$799	20x	as long as short
BloFin MU-USDT	+0.0174%	8h	1,052.9	+0.088%	$1.5M	$2.0M	20x	as long as short
Phoenix MU	+0.0304%	1h	1,052.5	+0.050%	$538K	$271K	15x	as long as short