Funding arb · Price arb /

MU

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0028%/8h= +3.1% APRpaid last 24h 0.000%

Price spread now: Aevo against Orderly−0.021%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Aevo is 0.021% cheaper against Orderly than usual: you would sell low and buy high (spread −0.021% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 2.5 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_MU_USDC_mythos	1,049.4	0.0100	pay 0.0100% / 8h	6h 00m	$834	$799	20x
Short	Aevo MU-PERP	1,049.2	0.0128	get 0.0016% / 1h	0m 00s	$32K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Orderly. 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 OrderlybpFee AevobpOrdersPrice spread, now −0.021%Rate

Funding earned: $5.88
Price spread: −0.021% → 0.000%: −$2.11
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$18.23
Costs to cover: 0.220%
Break-even: 28.7 days

Slippage unknown: Orderly: no order-book sample; Aevo: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—
Sell Aevo no order-book sample	—	—	—	—	—

Orderly and Aevo: 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 36 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	−0.0729%	4h	1,050.1	+0.068%	$1.3M	$672K	10x	as long as short
Bybit MUUSDT	0.0000%	8h	1,049.6	+0.021%	$19.2M	$32.5M	100x	as long as short
Gate MU_USDT	0.0000%	8h	1,049.4	−0.002%	$62.0M	$27.8M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,050.1	+0.065%	$190K	$3.4M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,049.6	+0.021%	$26K	$395K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,051	+0.148%	$11K	$5.9M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,049.3	−0.007%	$129K	$427K	50x	as long as short
GRVT MU_USDT_Perp	+0.0011%	8h	1,050.4	+0.099%	$79K	$1.3M	10x	as long as short
Nado MU-PERP	+0.0012%	1h	1,049.1	−0.026%	$279K	$851K	10x	as long as short
Aftermath Perps MUUSD	+0.0017%	1h	1,049.5	+0.005%	$3K	$45K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MU	+0.0032%	1h	1,049.3	−0.013%	$1.1M	$4.9M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,049.4	−0.006%	$1.2M	$4.3M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,048.9	−0.051%	$564K	$1.1M	10x	as long as short
QFEX MU-USD	+0.0040%	1h	1,049.7	+0.029%	$7.3M	$18.8M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,049.9	+0.049%	$71K	$235K	10x	as long as short
OKX MU-USDT-SWAP	+0.0042%	8h	1,049.6	+0.022%	$30.9M	$100.2M	50x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,050.4	+0.095%	—	$175K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,049.5	+0.009%	$170K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,049.3	−0.010%	$689K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,049.4	+0.001%	$1.9M	$2.3M	10x	as long as short
tradeXYZ xyz:MU	+0.0054%	1h	1,049.1	−0.030%	$178.1M	$99.4M	10x	as long as short
Paradex MU-USD-PERP	+0.0059%	8h	1,049.9	+0.045%	$2K	—	5x	as long as short
Pacifica MU	+0.0100%	1h	1,049.3	−0.009%	$148K	$187K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,049.3	−0.012%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,050.6	+0.115%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythoslong	+0.0100%	8h	1,049.4	long leg	$834	$799	20x
Injective MU/USDC PERP	+0.0107%	1h	1,051.4	+0.186%	$19K	$5K	12x	as long as short
Aster MUUSD1	+0.0122%	8h	1,049.7	+0.028%	$21.6M	$51.9M	20x	as long as short
Aevo MU-PERPshort	+0.0128%	1h	1,049.2	−0.021%	$32K	$1K	10x
Coinbase International MU-PERP-INTX	+0.0128%	1h	1,048.1	−0.130%	$755K	$1.2M	10x	as long as short
Variational Omni MU	+0.0151%	8h	1,050.2	+0.074%	$2.7M	$2.4M	—	as long as short
Binance MUUSDT	+0.0171%	8h	1,049.5	+0.007%	$126.5M	$521.3M	50x	as long as short
Bitget MUUSDT	+0.0179%	8h	1,049.6	+0.015%	$20.6M	$41.2M	50x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0198%	1h	1,049.3	−0.013%	$66K	$350K	10x	as long as short
Phoenix MU	+0.0304%	1h	1,050.8	+0.132%	$537K	$273K	15x	as long as short
RISEx MU/USDC	+0.0507%	1h	1,049.9	+0.043%	$334K	$347K	20x	as long as short