Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0050%/8h= −5.4% APRpaid last 24h −0.015%

Price spread now: Ondo Perps against Orderly−0.096%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 Ondo Perps

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—+ Points / potential airdropOndo Perps: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Ondo Perps is 0.096% cheaper against Orderly than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_MU_USDC_mythos	1,049.2	0.0100	pay 0.0100% / 8h	6h 40m	$834	$799	20x
Short	Ondo Perps MU-USD.P	1,048.2	0.0050	get 0.0006% / 1h	40m 54s	$1.9M	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.096%Rate

Funding earned: −$10.42
Price spread: −0.096% → 0.000%: −$9.63
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$31.04
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Ondo Perps: 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 Ondo Perps no order-book sample	—	—	—	—	—

Orderly and 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	−0.0658%	4h	1,049.1	−0.006%	$1.3M	$670K	10x	as long as short
Nado MU-PERP	−0.0002%	1h	1,048.7	−0.047%	$273K	$858K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,049.2	+0.004%	$62.1M	$27.6M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,048.9	−0.029%	$190K	$3.4M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,049.3	+0.009%	$26K	$396K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,050.2	+0.098%	$11K	$6.1M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,048.8	−0.034%	$65K	$325K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,048.8	−0.033%	$129K	$429K	50x	as long as short
Aftermath Perps MUUSD	+0.0022%	1h	1,049	−0.018%	$3K	$45K	10x	as long as short
Bybit MUUSDT	+0.0029%	8h	1,049.1	−0.004%	$19.2M	$32.6M	100x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MU	+0.0032%	1h	1,049.1	−0.004%	$1.1M	$4.8M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,049.1	−0.007%	$1.1M	$4.1M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,048.9	−0.029%	$559K	$1.2M	10x	as long as short
QFEX MU-USD	+0.0040%	1h	1,048.7	−0.042%	$7.5M	$20.2M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,049	−0.014%	$71K	$242K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,050	+0.075%	—	$176K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,048.9	−0.025%	$170K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,048.9	−0.026%	$688K	$16K	10x	as long as short
Ondo Perps MU-USD.Pshort	+0.0050%	1h	1,048.2	−0.096%	$1.9M	$2.4M	10x
tradeXYZ xyz:MU	+0.0066%	1h	1,049.2	+0.004%	$178.2M	$100.1M	10x	as long as short
Paradex MU-USD-PERP	+0.0070%	8h	1,048.9	−0.023%	$2K	—	5x	as long as short
OKX MU-USDT-SWAP	+0.0077%	8h	1,049.3	+0.017%	$30.8M	$100.6M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,048.7	−0.045%	$148K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,049.2	+0.007%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,048.5	−0.066%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythoslong	+0.0100%	8h	1,049.2	long leg	$834	$799	20x
Injective MU/USDC PERP	+0.0107%	1h	1,051.4	+0.210%	$19K	$5K	12x	as long as short
Coinbase International MU-PERP-INTX	+0.0128%	1h	1,050.3	+0.106%	$761K	$1.2M	10x	as long as short
Aevo MU-PERP	+0.0136%	1h	1,048.8	−0.032%	$32K	$1K	10x	as long as short
Aster MUUSD1	+0.0219%	8h	1,049.4	+0.021%	$21.6M	$49.7M	20x	as long as short
Variational Omni MU	+0.0219%	8h	1,049	−0.011%	$2.7M	$2.4M	—	as long as short
Binance MUUSDT	+0.0232%	8h	1,049	−0.018%	$126.3M	$524.6M	50x	as long as short
GRVT MU_USDT_Perp	+0.0233%	8h	1,049.7	+0.056%	$81K	$1.3M	10x	as long as short
Phoenix MU	+0.0304%	1h	1,049.3	+0.013%	$537K	$273K	15x	as long as short
Bitget MUUSDT	+0.0312%	8h	1,049.2	+0.004%	$20.3M	$41.9M	50x	as long as short
BloFin MU-USDT	+0.0368%	8h	1,049.8	+0.062%	$1.5M	$2.0M	20x	as long as short
RISEx MU/USDC	+0.0507%	1h	1,049.3	+0.010%	$333K	$348K	20x	as long as short