Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0022%/8h= −2.4% APRpaid last 24h −0.029%

Price spread now: OKX against Nado+0.055%7-day average +0.024% · 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−$19as in the Price arb table

costs, in and out, $10k−$220.224% of the position

Long on Nado Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.023%+$2 on $10k

Price spread, last 7 days+0.060%+$6 · spread now +0.055%, 7d avg +0.024%

Together, before fees+0.082%+ Points / potential airdropNado: Active · farm board+$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.031% dearer against Nado than usual: you sell high and buy low (spread +0.055% now, against its 7-day average of +0.024%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado MU-PERP	1,040.3	0.0022	pay 0.0003% / 1h	1m 26s	$277K	$816K	10x
Short	OKX MU-USDT-SWAP	1,040.9	0	get 0.0000% / 8h	2h 01m	$30.0M	$101.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.055%Rate

Funding earned: −$4.61
Price spread: +0.055% → +0.024%: $3.11
Slippage, 4 orders: −$5.38
Fee Nado: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$23.87
Costs to cover: 0.224%
Break-even: never at this rate

Slippage from Nado: live order book, 47 min ago; OKX: live order book, 2 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, 47 min ago	0.05 bp	6.5 bp −$7	19.0 bp −$190	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.05 bp	6.3 bp −$6	8.8 bp −$88	21.6 bp −$2,163	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	−0.0585%	4h	1,040.3	−0.001%	$1.3M	$673K	10x	as long as short
Bitget MUUSDT	−0.0081%	8h	1,040.8	+0.045%	$20.3M	$41.2M	50x	as long as short
Aster MUUSD1	0.0000%	8h	1,040.8	+0.047%	$21.2M	$57.2M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,040.6	+0.030%	$122.1M	$536.5M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,040.9	+0.053%	$18.7M	$32.2M	100x	as long as short
OKX MU-USDT-SWAPshort	0.0000%	8h	1,040.9	+0.055%	$30.0M	$101.7M	50x
RISEx MU/USDC	0.0000%	1h	1,040.6	+0.025%	$316K	$382K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,040.5	+0.020%	$61.7M	$28.6M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,041.3	+0.101%	$2.5M	$2.6M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,040.9	+0.062%	$84K	$1.4M	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX MU-USD	0.0000%	1h	1,040.7	+0.038%	$188K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,042	+0.166%	$11K	$5.7M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,040	−0.032%	$128K	$442K	50x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0010%	1h	1,040.4	+0.006%	$74K	$537K	10x	as long as short
Aftermath Perps MUUSD	+0.0017%	1h	1,040.2	−0.007%	$3K	$44K	10x	as long as short
Nado MU-PERPlong	+0.0022%	1h	1,040.3	long leg	$277K	$816K	10x
QFEX MU-USD	+0.0023%	1h	1,040.4	+0.006%	$7.0M	$18.3M	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,040.4	+0.011%	$1.2M	$4.6M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,039.7	−0.056%	$544K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.063%	$19K	$5K	12x	as long as short
Bullet MU-USD	+0.0039%	1h	1,040.7	+0.041%	$26K	$389K	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,040.1	−0.017%	$70K	$231K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,040.7	+0.043%	—	$175K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,040.4	+0.010%	$177.0M	$90.8M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,040.4	+0.010%	$169K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,040.3	−0.003%	$683K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,040	−0.025%	$1.9M	$2.5M	10x	as long as short
Paradex MU-USD-PERP	+0.0053%	8h	1,040.5	+0.020%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,040.3	−0.001%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,040.1	−0.020%	$148K	$189K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,040.2	−0.013%	$5.2M	$3.8M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,040.9	+0.061%	$71K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,040.7	+0.038%	$827	$799	20x	as long as short
Lighter MU	+0.0112%	1h	1,040.7	+0.034%	$1.1M	$5.0M	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,040.9	+0.058%	$1.4M	$2.1M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0144%	1h	1,036	−0.416%	$731K	$1.3M	10x	as long as short
Phoenix MU	+0.0231%	1h	1,041.2	+0.087%	$533K	$270K	15x	as long as short