Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.006%

Price spread now: SoDEX against OKX−0.027%7-day average −0.015% · 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−$36as in the Price arb table

costs, in and out, $10k−$340.344% of the position

Long on OKX Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.015%+$2 on $10k

Price spread, last 4 days (all we have)−0.010%−$1 · spread now −0.027%, 7d avg −0.015%

Together, before fees+0.005%$0 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.015%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MU-USDT-SWAP	1,039.5	0	get 0.0000% / 8h	1h 18m	$29.8M	$100.3M	50x
Short	SoDEX MU-USD	1,039.2	0.0050	get 0.0006% / 1h	18m 14s	$682K	$15K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.027%Rate

Funding earned: $10.5
Price spread: −0.027% → −0.015%: −$1.17
Slippage, 4 orders: −$16.36
Fee OKX: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$25.03
Costs to cover: 0.344%
Break-even: 23.7 days

Slippage from OKX: live order book, 6 min ago; SoDEX: live order book, 25 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, 6 min ago	0.05 bp	5.6 bp −$6	7.2 bp −$72	19.6 bp −$1,961	doesn't fit
Sell SoDEX live order book, 25 min ago	0.05 bp	11.9 bp −$12	44.7 bp −$447	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	−0.0279%	4h	1,038.3	−0.116%	$1.3M	$672K	10x	as long as short
Bitget MUUSDT	−0.0178%	8h	1,039.4	−0.007%	$20.2M	$40.4M	50x	as long as short
Nado MU-PERP	−0.0008%	1h	1,038.9	−0.062%	$279K	$815K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,040.3	+0.074%	$21.2M	$60.5M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,039.8	+0.028%	$122.1M	$538.5M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,039.7	+0.019%	$18.7M	$32.3M	100x	as long as short
OKX MU-USDT-SWAPlong	0.0000%	8h	1,039.5	long leg	$29.8M	$100.3M	50x
RISEx MU/USDC	0.0000%	1h	1,039.3	−0.020%	$314K	$387K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,039	−0.053%	$61.6M	$28.6M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,039.2	−0.027%	$2.5M	$2.6M	—	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MU_USDT_Perp	0.0000%	8h	1,038.8	−0.065%	$84K	$1.4M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,038.8	−0.067%	$188K	$3.5M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,039.1	−0.034%	$25K	$390K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,040.5	+0.094%	$11K	$5.6M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,039.5	−0.002%	$74K	$570K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,039.2	−0.025%	$128K	$442K	50x	as long as short
Aftermath Perps MUUSD	+0.0012%	1h	1,038.2	−0.125%	$3K	$44K	10x	as long as short
Lighter MU	+0.0032%	1h	1,039.8	+0.031%	$1.1M	$4.9M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,039.7	+0.022%	$1.2M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,039.3	−0.021%	$537K	$1.1M	10x	as long as short
QFEX MU-USD	+0.0032%	1h	1,039.1	−0.042%	$7.0M	$18.7M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.141%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,038.3	−0.118%	$90K	$250K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,039.3	−0.015%	—	$175K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,038.9	−0.058%	$176.5M	$86.7M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,038.8	−0.067%	$169K	$195K	10x	as long as short
SoDEX MU-USDshort	+0.0050%	1h	1,039.2	−0.027%	$682K	$15K	10x
Ondo Perps MU-USD.P	+0.0050%	1h	1,038.5	−0.093%	$1.8M	$2.7M	10x	as long as short
Paradex MU-USD-PERP	+0.0051%	8h	1,039.2	−0.028%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,039	−0.043%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,039.1	−0.037%	$147K	$190K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,038.8	−0.065%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,039.3	−0.020%	$70K	$270K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,039.6	+0.006%	$826	$799	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0104%	1h	1,036	−0.335%	$731K	$1.2M	10x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,038.7	−0.075%	$1.5M	$2.1M	20x	as long as short
Phoenix MU	+0.0231%	1h	1,038.9	−0.058%	$531K	$270K	15x	as long as short