Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0071%/8h= −7.8% APRpaid last 24h −0.040%

Price spread now: OKX against tradeXYZ+0.010%7-day average +0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$300.298% of the position

Long on tradeXYZ Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.083%−$8 on $10k

Price spread, last 7 days+0.027%+$3 · spread now +0.010%, 7d avg +0.069%

Together, before fees−0.057%+ Points / potential airdroptradeXYZ: Active · farm board−$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and OKX is 0.058% cheaper against tradeXYZ than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.069%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:MU	1,052	0.0071	pay 0.0009% / 1h	11m 34s	$178.8M	$99.0M	10x
Short	OKX MU-USDT-SWAP	1,052.1	0	get 0.0000% / 8h	4h 11m	$31.2M	$99.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against tradeXYZ. 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 tradeXYZbpFee OKXbpOrdersPrice spread, now +0.010%Rate

Funding earned: −$14.9
Price spread: +0.010% → +0.069%: −$5.81
Slippage, 4 orders: −$1.85
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee OKX: 5 bp × 2 orders: −$10
Net: −$50.55
Costs to cover: 0.298%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 7 min ago; OKX: live order book, 2 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 tradeXYZ live order book, 7 min ago	0.47 bp	10.2 bp −$10	12.3 bp −$123	18.2 bp −$1,818	doesn't fit
Sell OKX live order book, 2 min ago	0.05 bp	5.1 bp −$5	6.2 bp −$62	18.6 bp −$1,862	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	−0.0084%	4h	1,051.4	−0.053%	$1.3M	$673K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,052.5	+0.046%	$21.4M	$55.0M	20x	as long as short
OKX MU-USDT-SWAPshort	0.0000%	8h	1,052.1	+0.010%	$31.2M	$99.6M	50x
RISEx MU/USDC	0.0000%	1h	1,052.3	+0.025%	$340K	$354K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,052	−0.002%	$62.3M	$27.5M	75x	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,051.7	−0.031%	$81K	$1.4M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,051.7	−0.030%	$190K	$3.4M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,052.1	+0.012%	$11K	$5.8M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,051.6	−0.036%	$72K	$443K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,051.5	−0.047%	$131K	$434K	50x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MU	+0.0003%	8h	1,051.8	−0.022%	$2.7M	$2.4M	—	as long as short
Bybit MUUSDT	+0.0019%	8h	1,052.4	+0.040%	$19.1M	$32.3M	100x	as long as short
Aftermath Perps MUUSD	+0.0022%	1h	1,051.9	−0.013%	$3K	$45K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,052.1	+0.007%	$1.3M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,051.6	−0.037%	$566K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	−0.061%	$19K	$5K	12x	as long as short
QFEX MU-USD	+0.0034%	1h	1,052.1	+0.005%	$7.1M	$17.8M	10x	as long as short
Binance MUUSDT	+0.0038%	8h	1,052.2	+0.021%	$126.6M	$516.5M	50x	as long as short
Arcus MU-USD	+0.0040%	1h	1,051.6	−0.035%	$71K	$234K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,053.3	+0.122%	—	$176K	25x	as long as short
Nado MU-PERP	+0.0046%	1h	1,051.8	−0.014%	$282K	$836K	10x	as long as short
Bullet MU-USD	+0.0048%	1h	1,052.2	+0.019%	$26K	$395K	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,051.9	−0.010%	$171K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,051.9	−0.011%	$690K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,051	−0.091%	$1.9M	$2.2M	10x	as long as short
Paradex MU-USD-PERP	+0.0051%	8h	1,052.2	+0.016%	$2K	—	5x	as long as short
Lighter MU	+0.0056%	1h	1,052.1	+0.006%	$1.1M	$5.1M	20x	as long as short
Bitget MUUSDT	+0.0066%	8h	1,052.2	+0.014%	$20.5M	$41.1M	50x	as long as short
tradeXYZ xyz:MUlong	+0.0071%	1h	1,052	long leg	$178.8M	$99.0M	10x
Coinbase International MU-PERP-INTX	+0.0080%	1h	1,052.9	+0.085%	$759K	$1.2M	10x	as long as short
Aevo MU-PERP	+0.0088%	1h	1,051.5	−0.047%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,052.1	+0.012%	$148K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,052	−0.003%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,051	−0.093%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,051.9	−0.010%	$836	$799	20x	as long as short
BloFin MU-USDT	+0.0161%	8h	1,051.9	−0.011%	$1.5M	$2.0M	20x	as long as short
Phoenix MU	+0.0304%	1h	1,051.9	−0.010%	$538K	$271K	15x	as long as short