Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0029%/8h= +3.1% APRpaid last 24h +0.010%

Price spread now: ApeX Omni against OKX−0.003%110s7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as 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−$480.481% of the position

Long on OKX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 3 days (all we have)0.000%$0 · spread now −0.003%, 7d avg +0.001%

Together, before fees+0.038%+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.001%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. The two prices were read 110 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MU-USDT-SWAP	1,045.9	0.0071	pay 0.0071% / 8h	17m 41s	$30.8M	$104.7M	50x
Short	ApeX Omni MUUSDT	1,045.8	0.0100	get 0.0013% / 1h	17m 41s	$71K	$266K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against OKX. 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 OKXbpFee ApeX OmnibpOrdersPrice spread, now −0.003%Rate

Funding earned: $6.03
Price spread: −0.003% → +0.001%: −$0.38
Slippage, 4 orders: −$28.12
Fee OKX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$42.47
Costs to cover: 0.481%
Break-even: 56.3 days

Slippage from OKX: live order book, 1 min ago; ApeX Omni: live order book, 59 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 OKX live order book, 1 min ago	0.05 bp	5.0 bp −$5	6.1 bp −$61	17.8 bp −$1,780	doesn't fit
Sell ApeX Omni live order book, 59 min ago	7.38 bp	18.3 bp −$18	192.0 bp −$1,920	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	−0.0889%	4h	1,045.4	−0.049%	$1.3M	$673K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,045.9	+0.005%	$63.0M	$29.1M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,045.3	−0.059%	$189K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,047.9	+0.196%	$12K	$6.5M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,045.7	−0.012%	$129K	$456K	50x	as long as short
Aftermath Perps MUUSD	+0.0029%	1h	1,045.2	−0.069%	$3K	$45K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,045.8	−0.007%	$1.2M	$4.3M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.463%	$14K	$302	12x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,046.3	+0.040%	—	$194K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,045.8	−0.007%	$169K	$193K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX MU-USD	+0.0050%	1h	1,046	+0.015%	$686K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,045	−0.085%	$2.0M	$2.7M	10x	as long as short
OKX MU-USDT-SWAPlong	+0.0071%	8h	1,045.9	long leg	$30.8M	$104.7M	50x
Lighter MU	+0.0072%	1h	1,045.9	+0.002%	$1.0M	$4.9M	20x	as long as short
QFEX MU-USD	+0.0080%	1h	1,046	+0.013%	$7.9M	$23.9M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,045.6	−0.028%	$153K	$183K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,045.7	−0.016%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDTshort	+0.0100%	1h	1,045.8	−0.003%	$71K	$266K	50x
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,046.1	+0.022%	$832	$799	20x	as long as short
Paradex MU-USD-PERP	+0.0108%	8h	1,045.9	+0.004%	$2K	—	5x	as long as short
Bullet MU-USD	+0.0112%	1h	1,046.1	+0.024%	$25K	$395K	10x	as long as short
Bitget MUUSDT	+0.0118%	8h	1,046	+0.009%	$20.5M	$43.5M	50x	as long as short
Aevo MU-PERP	+0.0128%	1h	1,045.9	+0.003%	$33K	—	10x	as long as short
Nado MU-PERP	+0.0159%	1h	1,045.6	−0.023%	$271K	$876K	10x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0161%	1h	1,046	+0.009%	$62K	$279K	10x	as long as short
Aster MUUSD1	+0.0166%	8h	1,046.4	+0.054%	$21.5M	$47.3M	20x	as long as short
Variational Omni MU	+0.0178%	8h	1,045.7	−0.017%	$2.7M	$2.5M	—	as long as short
Binance MUUSDT	+0.0190%	8h	1,046	+0.010%	$124.4M	$532.6M	50x	as long as short
tradeXYZ xyz:MU	+0.0192%	1h	1,045.8	−0.007%	$176.7M	$104.6M	10x	as long as short
GRVT MU_USDT_Perp	+0.0220%	8h	1,045.5	−0.033%	$82K	$1.4M	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0224%	1h	1,044.9	−0.091%	$757K	$1.3M	10x	as long as short
Bybit MUUSDT	+0.0265%	8h	1,046.2	+0.031%	$19.2M	$32.4M	100x	as long as short
BloFin MU-USDT	+0.0309%	8h	1,046.1	+0.025%	$1.5M	$2.0M	20x	as long as short
Extended MU_24_5-USD	+0.0376%	1h	1,045.3	−0.054%	$541K	$1.1M	10x	as long as short
Phoenix MU	+0.0460%	1h	1,045.6	−0.026%	$535K	$306K	15x	as long as short
Arcus MU-USD	+0.0462%	1h	1,045.9	−0.002%	$71K	$244K	10x	as long as short
RISEx MU/USDC	+0.0525%	1h	1,046.3	+0.038%	$317K	$339K	20x	as long as short