Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0490%/8h= −53.6% APRpaid last 24h −0.042%

Price spread now: Bybit against RISEx+0.009%7-day average −0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$250.252% of the position

Long on RISEx Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.009%+$1 on $10k

Price spread, last 4 days (all we have)−0.016%−$2 · spread now +0.009%, 7d avg −0.008%

Together, before fees−0.007%−$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.008%, so right now this pair is about funding alone: −$15 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.009% in total (about 0.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx MU/USDC	1,048.7	0.0507	pay 0.0063% / 1h	40m 17s	$333K	$348K	20x
Short	Bybit MUUSDT	1,048.8	0.0018	get 0.0018% / 8h	6h 40m	$19.2M	$32.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against RISEx. 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 RISExbpFee BybitbpOrdersPrice spread, now +0.009%Rate

Funding earned: −$102.8
Price spread: +0.009% → −0.008%: $1.72
Slippage, 4 orders: −$8.2
Fee RISEx: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$126.28
Costs to cover: 0.252%
Break-even: never at this rate

Slippage from RISEx: live order book, 28 min ago; Bybit: live order book, 3 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 RISEx live order book, 28 min ago	1.71 bp	4.7 bp −$5	5.3 bp −$53	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.76 bp	7.6 bp −$8	12.2 bp −$122	31.7 bp −$3,174	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	−0.0658%	4h	1,049.1	+0.037%	$1.3M	$670K	10x	as long as short
Nado MU-PERP	−0.0003%	1h	1,048.7	−0.005%	$273K	$858K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,048.5	−0.024%	$62.1M	$27.6M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,048.9	+0.021%	$190K	$3.4M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,048.6	−0.010%	$26K	$396K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,049.4	+0.067%	$11K	$6.1M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,048	−0.064%	$65K	$326K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,048.6	−0.010%	$129K	$429K	50x	as long as short
Bybit MUUSDTshort	+0.0018%	8h	1,048.8	+0.009%	$19.2M	$32.6M	100x
Aftermath Perps MUUSD	+0.0022%	1h	1,048.9	+0.018%	$3K	$45K	10x	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	1,048.4	−0.026%	$1.1M	$4.8M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,048.4	−0.025%	$1.1M	$4.1M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,048.1	−0.055%	$559K	$1.2M	10x	as long as short
QFEX MU-USD	+0.0040%	1h	1,048.7	−0.003%	$7.5M	$20.1M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,049	+0.024%	$71K	$242K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,049.7	+0.094%	—	$176K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,048.4	−0.029%	$170K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,048.5	−0.023%	$688K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,048.2	−0.053%	$1.9M	$2.4M	10x	as long as short
tradeXYZ xyz:MU	+0.0062%	1h	1,048.4	−0.029%	$178.0M	$100.3M	10x	as long as short
Paradex MU-USD-PERP	+0.0070%	8h	1,048.9	+0.021%	$2K	—	5x	as long as short
OKX MU-USDT-SWAP	+0.0076%	8h	1,048.6	−0.015%	$30.8M	$100.6M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,048.7	−0.001%	$148K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,048.5	−0.019%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,048.5	−0.023%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,048.5	−0.021%	$834	$799	20x	as long as short
Injective MU/USDC PERP	+0.0107%	1h	1,051.4	+0.253%	$19K	$5K	12x	as long as short
Coinbase International MU-PERP-INTX	+0.0128%	1h	1,048.1	−0.060%	$759K	$1.2M	10x	as long as short
Aevo MU-PERP	+0.0136%	1h	1,048.2	−0.050%	$32K	$1K	10x	as long as short
Aster MUUSD1	+0.0215%	8h	1,049	+0.029%	$21.6M	$49.8M	20x	as long as short
Variational Omni MU	+0.0219%	8h	1,049	+0.032%	$2.7M	$2.4M	—	as long as short
Binance MUUSDT	+0.0229%	8h	1,048.6	−0.015%	$126.3M	$524.7M	50x	as long as short
GRVT MU_USDT_Perp	+0.0233%	8h	1,049.7	+0.099%	$81K	$1.3M	10x	as long as short
Phoenix MU	+0.0304%	1h	1,049.3	+0.057%	$537K	$273K	15x	as long as short
Bitget MUUSDT	+0.0306%	8h	1,048.6	−0.006%	$20.3M	$41.9M	50x	as long as short
BloFin MU-USDT	+0.0368%	8h	1,049.8	+0.105%	$1.5M	$2.0M	20x	as long as short
RISEx MU/USDClong	+0.0507%	1h	1,048.7	long leg	$333K	$348K	20x