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= −5.5% APRpaid last 24h −0.015%

Price spread now: Polymarket Perps against Orderly−0.024%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 Polymarket 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—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Polymarket Perps is 0.024% cheaper against Orderly than usual: you would sell low and buy high (−$2 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	1,049.7	0.0100	pay 0.0100% / 8h	6h 46m	$834	$799	20x
Short	Polymarket Perps MU-USD	1,049.4	0.0050	get 0.0006% / 1h	46m 53s	$170K	$203K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket 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 Polymarket PerpsbpOrdersPrice spread, now −0.024%Rate

Funding earned: −$10.5
Price spread: −0.024% → 0.000%: −$2.38
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$26.88
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Polymarket Perps: live order book, 20 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 Polymarket Perps live order book, 20 min ago	2.86 bp	7.6 bp −$8	8.1 bp −$81	10.1 bp −$1,006	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	−0.0591%	4h	1,050.1	+0.040%	$1.3M	$672K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,049.8	+0.010%	$62.3M	$27.5M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,049.8	+0.012%	$190K	$3.4M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,049.6	−0.004%	$26K	$396K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,050.6	+0.089%	$11K	$6.1M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,049.1	−0.052%	$65K	$321K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,049.3	−0.033%	$129K	$426K	50x	as long as short
Nado MU-PERP	+0.0002%	1h	1,049.5	−0.010%	$272K	$858K	10x	as long as short
Aftermath Perps MUUSD	+0.0022%	1h	1,049.6	−0.002%	$3K	$45K	10x	as long as short
Lighter MU	+0.0032%	1h	1,049.7	0.000%	$1.1M	$4.8M	20x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH MU	+0.0032%	1h	1,049.6	−0.004%	$1.1M	$4.1M	10x	as long as short
QFEX MU-USD	+0.0040%	1h	1,049.4	−0.029%	$7.5M	$20.4M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,049.8	+0.010%	$71K	$242K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,050.6	+0.092%	—	$178K	25x	as long as short
Polymarket Perps MU-USDshort	+0.0050%	1h	1,049.4	−0.024%	$170K	$203K	10x
SoDEX MU-USD	+0.0050%	1h	1,049.7	0.000%	$689K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,048.6	−0.097%	$1.9M	$2.4M	10x	as long as short
Bybit MUUSDT	+0.0054%	8h	1,050.2	+0.048%	$19.3M	$32.6M	100x	as long as short
Extended MU_24_5-USD	+0.0064%	1h	1,049.2	−0.048%	$563K	$1.2M	10x	as long as short
tradeXYZ xyz:MU	+0.0064%	1h	1,049.7	+0.005%	$178.4M	$100.0M	10x	as long as short
Paradex MU-USD-PERP	+0.0073%	8h	1,049.5	−0.010%	$2K	—	5x	as long as short
OKX MU-USDT-SWAP	+0.0085%	8h	1,050	+0.035%	$30.9M	$100.9M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,049.4	−0.027%	$148K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,049.7	+0.002%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,050	+0.032%	$71K	$267K	50x	as long as short
Orderly PERP_MU_USDC_mythoslong	+0.0100%	8h	1,049.7	long leg	$834	$799	20x
Injective MU/USDC PERP	+0.0107%	1h	1,051.4	+0.163%	$19K	$5K	12x	as long as short
Coinbase International MU-PERP-INTX	+0.0128%	1h	1,050.3	+0.059%	$761K	$1.2M	10x	as long as short
Aevo MU-PERP	+0.0144%	1h	1,049.4	−0.025%	$32K	$1K	10x	as long as short
Variational Omni MU	+0.0238%	8h	1,050.7	+0.104%	$2.7M	$2.4M	—	as long as short
Aster MUUSD1	+0.0239%	8h	1,049.9	+0.021%	$21.6M	$49.2M	20x	as long as short
Binance MUUSDT	+0.0244%	8h	1,050	+0.031%	$126.4M	$523.8M	50x	as long as short
GRVT MU_USDT_Perp	+0.0291%	8h	1,049.8	+0.017%	$81K	$1.3M	10x	as long as short
Phoenix MU	+0.0304%	1h	1,050.4	+0.071%	$537K	$273K	15x	as long as short
Bitget MUUSDT	+0.0346%	8h	1,050.1	+0.044%	$20.4M	$41.7M	50x	as long as short
BloFin MU-USDT	+0.0368%	8h	1,049.8	+0.015%	$1.5M	$2.0M	20x	as long as short
RISEx MU/USDC	+0.0507%	1h	1,049.6	−0.003%	$333K	$349K	20x	as long as short