Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0122%/8h= −13.4% APRpaid last 24h −0.032%

Price spread now: HTX against Nado−0.024%7-day average +0.018% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$310.305% of the position

Long on Nado Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.030%−$3 on $10k

Price spread, last 4 days (all we have)+0.084%+$8 · spread now −0.024%, 7d avg +0.018%

Together, before fees+0.054%+ Points / potential airdropNado: Active · farm board+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and HTX is 0.042% cheaper against Nado than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.018%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado MU-PERP	1,039.4	0.0122	pay 0.0015% / 1h	45m 53s	$277K	$841K	10x
Short	HTX MU-USDT	1,039.2	0	get 0.0000% / 8h	5h 45m	$119K	$474K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.024%Rate

Funding earned: −$25.61
Price spread: −0.024% → +0.018%: −$4.18
Slippage, 4 orders: −$11.54
Fee Nado: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$60.34
Costs to cover: 0.305%
Break-even: never at this rate

Slippage from Nado: live order book, 65 min ago; HTX: live order book, 65 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, 65 min ago	0.05 bp	6.2 bp −$6	15.8 bp −$158	doesn't fit	doesn't fit
Sell HTX live order book, 65 min ago	3.88 bp	10.0 bp −$10	10.0 bp −$100	16.3 bp −$1,629	doesn't fit

MU on 37 exchanges

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	−0.0524%	4h	1,040.2	+0.078%	$1.3M	$695K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,039.4	−0.002%	$21.2M	$73.5M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,038.6	−0.076%	$121.6M	$555.5M	50x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,038.5	−0.089%	$29.7M	$107.7M	50x	as long as short
Gate MU_USDT	0.0000%	8h	1,039.3	−0.017%	$61.4M	$28.0M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,038.3	−0.108%	$19.8M	$43.6M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,040.3	+0.088%	$2.6M	$2.6M	—	as long as short
StandX MU-USD	0.0000%	1h	1,039.6	+0.019%	$188K	$3.7M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,041	+0.146%	$11K	$5.0M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,038.6	−0.077%	$34K	$725K	10x	as long as short

Show all 37 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX MU-USDTshort	0.0000%	8h	1,039.2	−0.024%	$119K	$474K	50x
Lighter RH MU	+0.0032%	1h	1,039	−0.044%	$1.2M	$4.5M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.147%	$19K	$5K	12x	as long as short
Aftermath Perps MUUSD	+0.0035%	1h	1,039.5	+0.010%	$3K	$41K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,040.8	+0.129%	—	$177K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,039.3	−0.013%	$169K	$171K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,039.2	−0.027%	$683K	$14K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,039.1	−0.032%	$1.9M	$3.2M	10x	as long as short
QFEX MU-USD	+0.0058%	1h	1,039.4	+0.001%	$7.0M	$19.3M	10x	as long as short
Bybit MUUSDT	+0.0063%	8h	1,038.8	−0.057%	$18.8M	$32.3M	100x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,038.8	−0.063%	$32K	$1K	10x	as long as short
Paradex MU-USD-PERP	+0.0080%	8h	1,039.4	−0.002%	$2K	—	5x	as long as short
Pacifica MU	+0.0100%	1h	1,039.4	0.000%	$151K	$227K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,038.6	−0.082%	$5.2M	$6.0M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,040.3	+0.087%	$71K	$270K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,039.5	+0.010%	$826	$799	20x	as long as short
RISEx MU/USDC	+0.0118%	1h	1,039.7	+0.022%	$299K	$351K	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,040	+0.057%	$1.5M	$2.6M	20x	as long as short
Nado MU-PERPlong	+0.0122%	1h	1,039.4	long leg	$277K	$841K	10x
Arcus MU-USD	+0.0139%	1h	1,039	−0.042%	$90K	$148K	10x	as long as short
Lighter MU	+0.0184%	1h	1,039.1	−0.033%	$1.0M	$5.0M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0192%	1h	1,038.5	−0.093%	$727K	$1.2M	10x	as long as short
Bullet MU-USD	+0.0207%	1h	1,039.4	−0.003%	$24K	$385K	10x	as long as short
GRVT MU_USDT_Perp	+0.0232%	8h	1,041	+0.153%	$73K	$1.4M	10x	as long as short
tradeXYZ xyz:MU	+0.0235%	1h	1,038.6	−0.080%	$177.1M	$75.7M	10x	as long as short
Phoenix MU	+0.0308%	1h	1,040.6	+0.112%	$533K	$159K	15x	as long as short
Extended MU_24_5-USD	+0.0336%	1h	1,037.6	−0.176%	$551K	$1.1M	10x	as long as short