Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0031%/8h= +3.4% APRpaid last 24h −0.016%

Price spread now: Variational Omni against Ondo Perps+0.133%7-day average +0.081% · you sell dearer than you buy

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

Long on Ondo Perps Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.018%+$2 on $10k

Price spread, last 7 days−0.021%−$2 · spread now +0.133%, 7d avg +0.081%

Together, before fees−0.003%+ Points / potential airdropOndo Perps: Active · Variational Omni: Active · farm board$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Variational Omni is 0.052% dearer against Ondo Perps than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.081%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps MU-USD.P	1,041.6	0.0050	pay 0.0006% / 1h	8m 26s	$2.0M	$2.6M	10x
Short	Variational Omni MU	1,043	0.0082	get 0.0082% / 8h	2h 08m	$2.7M	$2.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.133%Rate

Funding earned: $6.56
Price spread: +0.133% → +0.081%: $5.23
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $6.79
Costs to cover: 0.050%
Break-even: from the start

Slippage unknown: Ondo Perps: no order-book sample; Variational Omni: RFQ quote, 1 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 Variational Omni RFQ quote, 1 min ago	1.92 bp	doesn't fit	5.9 bp −$59	doesn't fit	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	−0.0291%	4h	1,043	+0.134%	$1.3M	$672K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,042.9	+0.127%	$21.5M	$46.4M	20x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,042.5	+0.085%	$30.7M	$104.2M	50x	as long as short
Gate MU_USDT	0.0000%	8h	1,042.4	+0.080%	$62.9M	$29.1M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,042.5	+0.087%	$188K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,044.5	+0.278%	$11K	$6.7M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,042.5	+0.086%	$125K	$442K	50x	as long as short
Aftermath Perps MUUSD	+0.0028%	1h	1,042.6	+0.099%	$3K	$44K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,042.3	+0.070%	$1.1M	$4.3M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.874%	$14K	$302	12x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MU-USD-PERP	+0.0046%	1h	1,042.2	+0.054%	—	$193K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,042.2	+0.057%	$165K	$180K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,042.5	+0.081%	$684K	$16K	10x	as long as short
Ondo Perps MU-USD.Plong	+0.0050%	1h	1,041.6	long leg	$2.0M	$2.6M	10x
QFEX MU-USD	+0.0057%	1h	1,042.6	+0.092%	$7.8M	$24.1M	10x	as long as short
Bitget MUUSDT	+0.0072%	8h	1,042.5	+0.086%	$20.4M	$42.9M	50x	as long as short
Variational Omni MUshort	+0.0082%	8h	1,043	+0.133%	$2.7M	$2.7M	—
Pacifica MU	+0.0100%	1h	1,041.9	+0.025%	$153K	$182K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,042.3	+0.064%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,041.9	+0.028%	$71K	$267K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,042.6	+0.092%	$829	$799	20x	as long as short
Aevo MU-PERP	+0.0104%	1h	1,042.4	+0.073%	$33K	—	10x	as long as short
Binance MUUSDT	+0.0107%	8h	1,042.6	+0.099%	$124.7M	$540.4M	50x	as long as short
Paradex MU-USD-PERP	+0.0117%	8h	1,042.5	+0.086%	$2K	—	5x	as long as short
Coinbase International MU-PERP-INTX	+0.0152%	1h	1,043.8	+0.212%	$756K	$1.4M	10x	as long as short
GRVT MU_USDT_Perp	+0.0176%	8h	1,043.2	+0.150%	$82K	$1.4M	10x	as long as short
Bybit MUUSDT	+0.0189%	8h	1,042.7	+0.107%	$19.1M	$32.5M	100x	as long as short
Lighter MU	+0.0192%	1h	1,042.4	+0.073%	$998K	$4.8M	20x	as long as short
Nado MU-PERP	+0.0193%	1h	1,041.7	+0.009%	$306K	$845K	10x	as long as short
RISEx MU/USDC	+0.0202%	1h	1,042.8	+0.117%	$285K	$333K	20x	as long as short
tradeXYZ xyz:MU	+0.0212%	1h	1,042.3	+0.066%	$176.2M	$107.2M	10x	as long as short
Arcus MU-USD	+0.0226%	1h	1,042.5	+0.083%	$63K	$230K	10x	as long as short
BloFin MU-USDT	+0.0227%	8h	1,043	+0.135%	$1.5M	$2.1M	20x	as long as short
Phoenix MU	+0.0230%	1h	1,043.3	+0.162%	$534K	$303K	15x	as long as short
Bullet MU-USD	+0.0231%	1h	1,042.6	+0.095%	$25K	$400K	10x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0268%	1h	1,042.5	+0.081%	$59K	$229K	10x	as long as short
Extended MU_24_5-USD	+0.0696%	1h	1,041.6	0.000%	$540K	$1.1M	10x	as long as short