Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0043%/8h= −4.7% APRpaid last 24h +0.011%

Price spread now: Bybit against Polymarket Perps+0.038%7-day average +0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$280.281% of the position

Long on Polymarket Perps Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.018%+$2 on $10k

Price spread, last 4 days (all we have)+0.035%+$3 · spread now +0.038%, 7d avg +0.048%

Together, before fees+0.052%+$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.048%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps MU-USD	1,049.8	0.0050	pay 0.0006% / 1h	53m 58s	$170K	$202K	10x
Short	Bybit MUUSDT	1,050.2	0.0007	get 0.0007% / 8h	3h 53m	$19.0M	$31.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Polymarket Perps. 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 Polymarket PerpsbpFee BybitbpOrdersPrice spread, now +0.038%Rate

Funding earned: −$8.96
Price spread: +0.038% → +0.048%: −$0.94
Slippage, 4 orders: −$9.14
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$38.04
Costs to cover: 0.281%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 63 min ago; Bybit: live order book, 5 min ago.

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 Polymarket Perps live order book, 63 min ago	2.38 bp	6.4 bp −$6	7.7 bp −$77	9.6 bp −$956	doesn't fit
Sell Bybit live order book, 5 min ago	0.52 bp	8.5 bp −$9	10.3 bp −$103	28.4 bp −$2,836	doesn't fit

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	−0.0879%	4h	1,050.2	+0.034%	$1.3M	$671K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,050.5	+0.068%	$21.4M	$55.0M	20x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,050.1	+0.031%	$31.2M	$99.6M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,050.4	+0.056%	$339K	$351K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,050	+0.014%	$62.6M	$27.6M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,050.4	+0.053%	$20.5M	$41.3M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,049.7	−0.007%	$2.7M	$2.4M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,050.4	+0.062%	$81K	$1.4M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,049.5	−0.026%	$190K	$3.4M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,050.6	+0.074%	$11K	$5.8M	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,049.7	−0.006%	$73K	$458K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,049.9	+0.005%	$131K	$430K	50x	as long as short
Bybit MUUSDTshort	+0.0007%	8h	1,050.2	+0.038%	$19.0M	$31.9M	100x
Binance MUUSDT	+0.0013%	8h	1,050.1	+0.027%	$126.0M	$517.0M	50x	as long as short
Aftermath Perps MUUSD	+0.0023%	1h	1,049.8	+0.004%	$3K	$44K	10x	as long as short
QFEX MU-USD	+0.0032%	1h	1,050	+0.020%	$7.1M	$17.8M	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,049.9	+0.006%	$1.3M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,049.2	−0.059%	$566K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.149%	$19K	$5K	12x	as long as short
Lighter MU	+0.0040%	1h	1,049.9	+0.005%	$1.1M	$5.0M	20x	as long as short
Arcus MU-USD	+0.0040%	1h	1,049.8	+0.004%	$71K	$233K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,050.9	+0.106%	—	$176K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,049.6	−0.019%	$178.1M	$97.0M	10x	as long as short
Polymarket Perps MU-USDlong	+0.0050%	1h	1,049.8	long leg	$170K	$202K	10x
SoDEX MU-USD	+0.0050%	1h	1,049.8	+0.001%	$689K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,048.8	−0.098%	$1.9M	$2.2M	10x	as long as short
Paradex MU-USD-PERP	+0.0051%	8h	1,050.5	+0.069%	$2K	—	5x	as long as short
BloFin MU-USDT	+0.0059%	8h	1,049.9	+0.010%	$1.5M	$2.0M	20x	as long as short
Nado MU-PERP	+0.0073%	1h	1,049.7	−0.008%	$282K	$835K	10x	as long as short
Aevo MU-PERP	+0.0088%	1h	1,049.5	−0.028%	$32K	$1K	10x	as long as short
Bullet MU-USD	+0.0091%	1h	1,050.2	+0.038%	$26K	$395K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,049.9	+0.010%	$148K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,049.8	−0.002%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,050.3	+0.044%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050	+0.020%	$835	$799	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0120%	1h	1,050	+0.022%	$757K	$1.2M	10x	as long as short
Phoenix MU	+0.0304%	1h	1,050.6	+0.076%	$537K	$271K	15x	as long as short