Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0090%/8h= +9.9% APRpaid last 24h +0.013%

Price spread now: Deribit against Orderly−0.012%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 Deribit

What this pair did over the last

the charts below follow

Funding, last 4 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_MU_USDC_mythos	1,045.3	0.0100	pay 0.0100% / 8h	25m 45s	$831	$799	20x
Short	Deribit MU_USDC-PERPETUAL	1,045.2	0.0190	get 0.0024% / 1h	25m 45s	$62K	$272K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.012%Rate

Funding earned: $18.97
Price spread: −0.012% → 0.000%: −$1.24
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $4.72
Costs to cover: 0.130%
Break-even: 5.3 days

Slippage unknown: Orderly: no order-book sample; Deribit: live order book, 53 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 Orderly no order-book sample	—	—	—	—	—
Sell Deribit live order book, 53 min ago	0.05 bp	13.2 bp −$13	17.3 bp −$173	doesn't fit	doesn't fit

Orderly: 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	−0.0857%	4h	1,045.2	−0.005%	$1.3M	$672K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,045.3	+0.005%	$63.0M	$29.1M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,044.9	−0.039%	$189K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,047	+0.167%	$11K	$6.5M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,045.1	−0.018%	$129K	$455K	50x	as long as short
Aftermath Perps MUUSD	+0.0031%	1h	1,044.8	−0.046%	$3K	$45K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,045.3	−0.002%	$1.2M	$4.2M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.519%	$14K	$302	12x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,045.5	+0.017%	—	$194K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,045	−0.028%	$169K	$189K	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	1,045.3	−0.002%	$686K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,043.9	−0.132%	$2.0M	$2.7M	10x	as long as short
OKX MU-USDT-SWAP	+0.0076%	8h	1,045.3	+0.001%	$30.8M	$105.0M	50x	as long as short
QFEX MU-USD	+0.0080%	1h	1,045.2	−0.013%	$7.8M	$23.9M	10x	as long as short
Lighter MU	+0.0088%	1h	1,045.2	−0.007%	$1.0M	$4.9M	20x	as long as short
Pacifica MU	+0.0100%	1h	1,045.4	+0.007%	$153K	$182K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,045.2	−0.012%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,045.6	+0.031%	$71K	$266K	50x	as long as short
Orderly PERP_MU_USDC_mythoslong	+0.0100%	8h	1,045.3	long leg	$831	$799	20x
Paradex MU-USD-PERP	+0.0121%	8h	1,045.2	−0.007%	$2K	—	5x	as long as short
Bitget MUUSDT	+0.0122%	8h	1,045.4	+0.010%	$20.5M	$43.6M	50x	as long as short
Aevo MU-PERP	+0.0128%	1h	1,045.2	−0.008%	$33K	—	10x	as long as short
Bullet MU-USD	+0.0132%	1h	1,045.4	+0.009%	$25K	$394K	10x	as long as short
Aster MUUSD1	+0.0161%	8h	1,045.7	+0.035%	$21.5M	$47.3M	20x	as long as short
Nado MU-PERP	+0.0177%	1h	1,044.8	−0.051%	$271K	$875K	10x	as long as short
Variational Omni MU	+0.0183%	8h	1,045.3	−0.001%	$2.7M	$2.5M	—	as long as short
Deribit MU_USDC-PERPETUALshort	+0.0190%	1h	1,045.2	−0.012%	$62K	$272K	10x
Binance MUUSDT	+0.0192%	8h	1,045.4	+0.007%	$124.3M	$533.2M	50x	as long as short
tradeXYZ xyz:MU	+0.0218%	1h	1,045.3	+0.001%	$176.7M	$105.1M	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0224%	1h	1,045.1	−0.019%	$757K	$1.3M	10x	as long as short
GRVT MU_USDT_Perp	+0.0235%	8h	1,045.3	+0.001%	$82K	$1.4M	10x	as long as short
Bybit MUUSDT	+0.0271%	8h	1,045.5	+0.017%	$19.2M	$32.5M	100x	as long as short
BloFin MU-USDT	+0.0314%	8h	1,045.1	−0.016%	$1.5M	$2.0M	20x	as long as short
Extended MU_24_5-USD	+0.0440%	1h	1,044.6	−0.061%	$541K	$1.1M	10x	as long as short
Phoenix MU	+0.0460%	1h	1,045.3	+0.001%	$535K	$306K	15x	as long as short
Arcus MU-USD	+0.0462%	1h	1,045	−0.024%	$70K	$244K	10x	as long as short
RISEx MU/USDC	+0.0525%	1h	1,045.7	+0.042%	$316K	$339K	20x	as long as short