Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.032%

Price spread now: Orderly against RISEx−0.025%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on RISEx Short on Orderly

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

Funding pays, the price is against you. Orderly is 0.025% cheaper against RISEx than usual: you would sell low and buy high (spread −0.025% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 20 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx MU/USDC	1,036.3	0	get 0.0000% / 1h	40m 41s	$315K	$386K	20x
Short	Orderly PERP_MU_USDC_mythos	1,036.1	0.0100	get 0.0100% / 8h	1h 40m	$824	$799	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.025%Rate

Funding earned: $21
Price spread: −0.025% → 0.000%: −$2.51
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee Orderly: 3 bp × 2 orders: −$6
Net: $6.49
Costs to cover: 0.120%
Break-even: 4.8 days

Slippage unknown: RISEx: live order book, 3 min ago; Orderly: 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 RISEx live order book, 3 min ago	0.63 bp	3.6 bp −$4	4.9 bp −$49	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

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	−0.0796%	4h	1,036.5	+0.021%	$1.3M	$674K	10x	as long as short
Bitget MUUSDT	−0.0164%	8h	1,036.5	+0.014%	$20.2M	$41.4M	50x	as long as short
Aster MUUSD1	0.0000%	8h	1,037.2	+0.080%	$21.1M	$58.0M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,036.7	+0.032%	$121.4M	$537.1M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,036.6	+0.027%	$18.5M	$32.2M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,036.5	+0.016%	$29.9M	$100.3M	50x	as long as short
RISEx MU/USDClong	0.0000%	1h	1,036.3	long leg	$315K	$386K	20x
Gate MU_USDT	0.0000%	8h	1,036.1	−0.025%	$61.6M	$28.4M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,036	−0.031%	$2.5M	$2.6M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,036.1	−0.018%	$73K	$1.4M	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX MU-USD	0.0000%	1h	1,035.9	−0.040%	$187K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,037.2	+0.083%	$11K	$5.6M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,035.7	−0.059%	$74K	$553K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,035.9	−0.046%	$127K	$441K	50x	as long as short
Bullet MU-USD	+0.0007%	1h	1,036.2	−0.013%	$26K	$389K	10x	as long as short
Aftermath Perps MUUSD	+0.0018%	1h	1,036.3	−0.005%	$3K	$44K	10x	as long as short
Nado MU-PERP	+0.0020%	1h	1,035.4	−0.093%	$277K	$816K	10x	as long as short
Lighter MU	+0.0032%	1h	1,036.7	+0.031%	$1.1M	$4.9M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,036.4	+0.010%	$1.2M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,035.8	−0.054%	$540K	$1.1M	10x	as long as short
QFEX MU-USD	+0.0032%	1h	1,036.1	−0.023%	$7.0M	$18.6M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.450%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,036.1	−0.025%	$70K	$230K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,036.1	−0.026%	—	$175K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,036.2	−0.013%	$176.1M	$89.2M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,035.8	−0.051%	$168K	$196K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,035.9	−0.040%	$680K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,034.8	−0.147%	$1.8M	$2.6M	10x	as long as short
Paradex MU-USD-PERP	+0.0052%	8h	1,036.4	+0.004%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,035.6	−0.068%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,036.4	+0.010%	$147K	$190K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,036.1	−0.020%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,036.8	+0.045%	$70K	$270K	50x	as long as short
Orderly PERP_MU_USDC_mythosshort	+0.0100%	8h	1,036.1	−0.025%	$824	$799	20x
Coinbase International MU-PERP-INTX	+0.0104%	1h	1,036	−0.030%	$731K	$1.2M	10x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,036.1	−0.023%	$1.5M	$2.1M	20x	as long as short
Phoenix MU	+0.0231%	1h	1,036.2	−0.013%	$530K	$270K	15x	as long as short