Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0011%/8h= +1.2% APRpaid last 24h −0.026%

Price spread now: Variational Omni against tradeXYZ+0.018%7-day average +0.067% · you sell dearer than you buy

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

Long on tradeXYZ Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.006%−$1 on $10k

Price spread, last 7 days0.000%$0 · spread now +0.018%, 7d avg +0.067%

Together, before fees−0.006%+ Points / potential airdroptradeXYZ: Active · Variational Omni: Active · farm board−$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.049% cheaper against tradeXYZ than usual: you would sell low and buy high (spread +0.018% now, against its 7-day average of +0.067%). If the spread goes back, that is −$5 on $10k: about 15 days of funding at the current rate ($0 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:MU	1,052	0.0060	pay 0.0008% / 1h	2m 25s	$178.5M	$99.0M	10x
Short	Variational Omni MU	1,052.2	0.0071	get 0.0071% / 8h	5h 02m	$2.7M	$2.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against tradeXYZ. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now +0.018%Rate

Funding earned: $2.25
Price spread: +0.018% → +0.067%: −$4.94
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$20.69
Costs to cover: 0.180%
Break-even: 71.4 days

Slippage unknown: tradeXYZ: live order book, 8 min ago; Variational Omni: RFQ quote, 2 min ago. 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 tradeXYZ live order book, 8 min ago	0.47 bp	9.8 bp −$10	11.2 bp −$112	17.1 bp −$1,712	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	1.90 bp	doesn't fit	4.8 bp −$48	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	−0.0935%	4h	1,052.3	+0.025%	$1.3M	$672K	10x	as long as short
RISEx MU/USDC	0.0000%	1h	1,052.5	+0.048%	$334K	$348K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,052.2	+0.017%	$62.1M	$27.6M	75x	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,052.5	+0.047%	$78K	$1.3M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,051.9	−0.013%	$190K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,054	+0.187%	$11K	$5.8M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,051.9	−0.009%	$69K	$393K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,051.9	−0.012%	$130K	$430K	50x	as long as short
Bybit MUUSDT	+0.0009%	8h	1,052.3	+0.031%	$19.2M	$32.3M	100x	as long as short
OKX MU-USDT-SWAP	+0.0012%	8h	1,052.2	+0.020%	$31.1M	$99.9M	50x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps MUUSD	+0.0018%	1h	1,051.9	−0.007%	$3K	$44K	10x	as long as short
QFEX MU-USD	+0.0030%	1h	1,052.2	+0.017%	$7.2M	$18.0M	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,052.4	+0.033%	$1.3M	$4.5M	10x	as long as short
Aster MUUSD1	+0.0033%	8h	1,052.3	+0.028%	$21.4M	$55.0M	20x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	−0.061%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,051.8	−0.020%	$71K	$234K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,053.5	+0.139%	—	$175K	25x	as long as short
Nado MU-PERP	+0.0046%	1h	1,052	+0.004%	$282K	$844K	10x	as long as short
Lighter MU	+0.0048%	1h	1,052.2	+0.022%	$1.1M	$5.1M	20x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,052	0.000%	$171K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,052.1	+0.010%	$690K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,051.6	−0.043%	$1.9M	$2.3M	10x	as long as short
Paradex MU-USD-PERP	+0.0054%	8h	1,052.2	+0.022%	$2K	—	5x	as long as short
Extended MU_24_5-USD	+0.0056%	1h	1,051.7	−0.028%	$564K	$1.1M	10x	as long as short
tradeXYZ xyz:MUlong	+0.0060%	1h	1,052	long leg	$178.5M	$99.0M	10x
Bullet MU-USD	+0.0061%	1h	1,052.4	+0.038%	$26K	$398K	10x	as long as short
Variational Omni MUshort	+0.0071%	8h	1,052.2	+0.018%	$2.7M	$2.4M	—
Coinbase International MU-PERP-INTX	+0.0096%	1h	1,051.9	−0.006%	$758K	$1.2M	10x	as long as short
Binance MUUSDT	+0.0099%	8h	1,052.2	+0.023%	$126.6M	$517.4M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,052.3	+0.026%	$148K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,052.1	+0.013%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,052	−0.005%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,052.2	+0.017%	$836	$799	20x	as long as short
Aevo MU-PERP	+0.0104%	1h	1,051.9	−0.010%	$32K	$1K	10x	as long as short
Bitget MUUSDT	+0.0137%	8h	1,052.3	+0.029%	$20.6M	$41.0M	50x	as long as short
BloFin MU-USDT	+0.0222%	8h	1,052.2	+0.018%	$1.5M	$2.0M	20x	as long as short
Phoenix MU	+0.0229%	1h	1,052.5	+0.048%	$538K	$271K	15x	as long as short