Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.039%

Price spread now: Arcus against SunX−0.216%7-day average −0.186% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$81as in the Price arb table

costs, in and out, $10k−$780.781% of the position

Long on SunX Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.144%+$14 on $10k

Price spread, last 4 days (all we have)+0.321%+$32 · spread now −0.216%, 7d avg −0.186%

Together, before fees+0.465%+$46 on $10k · with fees, hour by hour

Funding pays, the price is against you. Arcus is 0.030% cheaper against SunX than usual: you would sell low and buy high (spread −0.216% now, against its 7-day average of −0.186%). If the spread goes back, that is −$3 on $10k: about 2.5 days of funding at the current rate (+$1 a day). At the pace of the last 4 days (+0.144% in total) that is about 18 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX MU-USDT	1,052.5	0	get 0.0000% / 8h	5h 33m	$11K	$5.9M	10x
Short	Arcus MU-USD	1,050.2	0.0040	get 0.0005% / 1h	33m 10s	$71K	$235K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against SunX. 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 SunXbpFee ArcusbpOrdersPrice spread, now −0.216%Rate

Funding earned: $8.46
Price spread: −0.216% → −0.186%: −$3.01
Slippage, 4 orders: −$65.62
Fee SunX: 4 bp × 2 orders: −$8
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$72.67
Costs to cover: 0.781%
Break-even: 67.1 days

Slippage from SunX: live order book, 6 min ago; Arcus: live order book, 30 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 SunX live order book, 6 min ago	21.59 bp	25.6 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell Arcus live order book, 30 min ago	3.76 bp	10.1 bp −$10	13.7 bp −$137	doesn't fit	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	−0.0868%	4h	1,050.2	−0.217%	$1.3M	$672K	10x	as long as short
RISEx MU/USDC	0.0000%	1h	1,050.8	−0.158%	$333K	$348K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,050.6	−0.184%	$62.1M	$27.4M	75x	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,050.5	−0.194%	$85K	$1.3M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,050.2	−0.223%	$190K	$3.5M	20x	as long as short
SunX MU-USDTlong	0.0000%	8h	1,052.5	long leg	$11K	$5.9M	10x
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,050.4	−0.200%	$67K	$369K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,050.4	−0.196%	$129K	$428K	50x	as long as short
Bybit MUUSDT	+0.0002%	8h	1,051	−0.145%	$19.2M	$32.3M	100x	as long as short
Aftermath Perps MUUSD	+0.0020%	1h	1,050	−0.238%	$3K	$44K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX MU-USDT-SWAP	+0.0027%	8h	1,050.8	−0.166%	$31.0M	$99.8M	50x	as long as short
QFEX MU-USD	+0.0030%	1h	1,050.5	−0.188%	$7.2M	$18.2M	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,050.5	−0.195%	$1.2M	$4.3M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	−0.108%	$19K	$5K	12x	as long as short
Arcus MU-USDshort	+0.0040%	1h	1,050.2	−0.216%	$71K	$235K	10x
Vest MU-USD-PERP	+0.0046%	1h	1,051.5	−0.099%	—	$175K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,050.4	−0.200%	$170K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,050.7	−0.167%	$690K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,049.8	−0.259%	$1.9M	$2.3M	10x	as long as short
Lighter MU	+0.0056%	1h	1,050.7	−0.174%	$1.1M	$4.9M	20x	as long as short
Paradex MU-USD-PERP	+0.0057%	8h	1,050.7	−0.172%	$2K	—	5x	as long as short
Nado MU-PERP	+0.0063%	1h	1,050.4	−0.203%	$282K	$848K	10x	as long as short
Extended MU_24_5-USD	+0.0064%	1h	1,050	−0.239%	$564K	$1.1M	10x	as long as short
tradeXYZ xyz:MU	+0.0066%	1h	1,050.4	−0.200%	$178.2M	$99.2M	10x	as long as short
Aster MUUSD1	+0.0080%	8h	1,050.7	−0.172%	$21.4M	$52.1M	20x	as long as short
Bullet MU-USD	+0.0083%	1h	1,050.8	−0.163%	$25K	$398K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0096%	1h	1,049.9	−0.243%	$756K	$1.2M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,050.2	−0.217%	$149K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,050.4	−0.197%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,050	−0.238%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050.7	−0.172%	$835	$799	20x	as long as short
Aevo MU-PERP	+0.0120%	1h	1,050.3	−0.207%	$32K	$1K	10x	as long as short
Variational Omni MU	+0.0122%	8h	1,050.5	−0.193%	$2.7M	$2.4M	—	as long as short
Bitget MUUSDT	+0.0132%	8h	1,050.8	−0.162%	$20.6M	$41.1M	50x	as long as short
Binance MUUSDT	+0.0141%	8h	1,050.8	−0.161%	$126.6M	$518.4M	50x	as long as short
Phoenix MU	+0.0229%	1h	1,050.8	−0.162%	$537K	$271K	15x	as long as short
BloFin MU-USDT	+0.0261%	8h	1,050.8	−0.166%	$1.5M	$2.0M	20x	as long as short