Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h +0.011%

Price spread now: Bybit against Ondo Perps+0.138%7-day average +0.087% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Ondo Perps Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.036%+$4 on $10k

Price spread, last 7 days−0.103%−$10 · spread now +0.138%, 7d avg +0.087%

Together, before fees−0.067%+ Points / potential airdropOndo Perps: Active · farm board−$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.051% dearer against Ondo Perps than usual: you sell high and buy low (spread +0.138% now, against its 7-day average of +0.087%): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps MU-USD.P	1,037.7	0.0050	pay 0.0006% / 1h	35m 30s	$1.9M	$2.4M	10x
Short	Bybit MUUSDT	1,039.1	0	get 0.0000% / 8h	2h 35m	$18.5M	$32.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Ondo Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpFee BybitbpOrdersPrice spread, now +0.138%Rate

Funding earned: −$10.58
Price spread: +0.138% → +0.087%: $5.09
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$21.49
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Bybit: live order book, 8 min ago. Net counts fees only.

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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Bybit live order book, 8 min ago	0.38 bp	7.7 bp −$8	10.0 bp −$100	27.1 bp −$2,705	doesn't fit

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0056%	4h	1,039	+0.124%	$1.3M	$672K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,039.3	+0.157%	$21.1M	$57.2M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,039.2	+0.142%	$121.5M	$526.8M	50x	as long as short
Bybit MUUSDTshort	0.0000%	8h	1,039.1	+0.138%	$18.5M	$32.0M	100x
OKX MU-USDT-SWAP	0.0000%	8h	1,038.7	+0.092%	$30.1M	$99.9M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,039	+0.121%	$335K	$353K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,038.7	+0.098%	$61.6M	$28.2M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,039	+0.120%	$20.4M	$40.9M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,038.2	+0.053%	$2.6M	$2.4M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,039.6	+0.182%	$75K	$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	1,039.4	+0.163%	$188K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,040.1	+0.232%	$11K	$5.7M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,038.3	+0.054%	$127K	$447K	50x	as long as short
Aftermath Perps MUUSD	+0.0020%	1h	1,038.7	+0.092%	$3K	$44K	10x	as long as short
Nado MU-PERP	+0.0022%	1h	1,038.4	+0.072%	$278K	$819K	10x	as long as short
QFEX MU-USD	+0.0023%	1h	1,038.9	+0.113%	$7.0M	$17.9M	10x	as long as short
Bullet MU-USD	+0.0025%	1h	1,039	+0.124%	$26K	$391K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,038.8	+0.102%	$1.2M	$4.5M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,038.1	+0.043%	$546K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.316%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,038.5	+0.072%	$70K	$232K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,038.6	+0.087%	—	$174K	25x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0049%	1h	1,038.3	+0.059%	$73K	$509K	10x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,038.6	+0.087%	$176.5M	$92.2M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,038.4	+0.067%	$169K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,038.1	+0.039%	$681K	$15K	10x	as long as short
Ondo Perps MU-USD.Plong	+0.0050%	1h	1,037.7	long leg	$1.9M	$2.4M	10x
Paradex MU-USD-PERP	+0.0052%	8h	1,039	+0.126%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,037.7	+0.001%	$32K	$1K	10x	as long as short
Lighter MU	+0.0096%	1h	1,039	+0.120%	$1.0M	$4.9M	20x	as long as short
Pacifica MU	+0.0100%	1h	1,038.7	+0.094%	$146K	$187K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,038.4	+0.064%	$5.2M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,038.8	+0.101%	$70K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,038.3	+0.056%	$825	$799	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,039.6	+0.187%	$1.5M	$2.0M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0144%	1h	1,037.9	+0.016%	$741K	$1.2M	10x	as long as short
Phoenix MU	+0.0231%	1h	1,037.9	+0.019%	$531K	$270K	15x	as long as short