Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0013%/8h= +1.4% APRpaid last 24h +0.006%

Price spread now: ApeX Omni against Variational Omni−0.005%58s7-day average +0.008% · you buy dearer than you sell

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

Long on Variational Omni Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.017%+$2 on $10k

Price spread, last 4 days (all we have)−0.002%$0 · spread now −0.005%, 7d avg +0.008%

Together, before fees+0.014%+ Points / potential airdropVariational Omni: Active · farm board+$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: $0 a day on $10k at the current rate. The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MU	1,051.4	0.0087	pay 0.0087% / 8h	5h 12m	$2.7M	$2.4M	—
Short	ApeX Omni MUUSDT	1,051.3	0.0100	get 0.0013% / 1h	12m 25s	$71K	$269K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Variational Omni. 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 Variational OmnibpFee ApeX OmnibpOrdersPrice spread, now −0.005%Rate

Funding earned: $2.77
Price spread: −0.005% → +0.008%: −$1.29
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$8.53
Costs to cover: 0.100%
Break-even: 28.6 days

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; ApeX Omni: live order book, 50 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 Variational Omni RFQ quote, 2 min ago	1.90 bp	doesn't fit	4.7 bp −$47	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 50 min ago	6.23 bp	16.4 bp −$16	189.4 bp −$1,894	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	−0.0194%	4h	1,051.6	+0.017%	$1.3M	$673K	10x	as long as short
RISEx MU/USDC	0.0000%	1h	1,052.3	+0.090%	$333K	$348K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,052.1	+0.068%	$62.0M	$27.6M	75x	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,051.8	+0.036%	$85K	$1.3M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,051.2	−0.015%	$190K	$3.4M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,053.9	+0.240%	$11K	$5.8M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,051.7	+0.027%	$129K	$430K	50x	as long as short
Bybit MUUSDT	+0.0005%	8h	1,052.5	+0.107%	$19.2M	$32.3M	100x	as long as short
Aftermath Perps MUUSD	+0.0019%	1h	1,051.1	−0.030%	$3K	$45K	10x	as long as short
OKX MU-USDT-SWAP	+0.0020%	8h	1,052.1	+0.071%	$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
QFEX MU-USD	+0.0030%	1h	1,052	+0.058%	$7.2M	$18.1M	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,052	+0.056%	$1.3M	$4.4M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	−0.002%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,051.4	+0.001%	$71K	$235K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,053.2	+0.173%	—	$175K	25x	as long as short
Aster MUUSD1	+0.0048%	8h	1,052.3	+0.085%	$21.4M	$54.2M	20x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,051.9	+0.049%	$171K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,052	+0.062%	$690K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,050.9	−0.044%	$1.9M	$2.3M	10x	as long as short
Nado MU-PERP	+0.0052%	1h	1,051.9	+0.047%	$282K	$845K	10x	as long as short
Paradex MU-USD-PERP	+0.0055%	8h	1,052.2	+0.082%	$2K	—	5x	as long as short
tradeXYZ xyz:MU	+0.0062%	1h	1,051.9	+0.049%	$178.4M	$99.1M	10x	as long as short
Lighter MU	+0.0064%	1h	1,052.2	+0.073%	$1.1M	$5.0M	20x	as long as short
Bullet MU-USD	+0.0069%	1h	1,052.2	+0.078%	$25K	$398K	10x	as long as short
Variational Omni MUlong	+0.0087%	8h	1,051.4	long leg	$2.7M	$2.4M	—
Extended MU_24_5-USD	+0.0088%	1h	1,051.6	+0.021%	$564K	$1.1M	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0096%	1h	1,051.3	−0.006%	$758K	$1.2M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,051.7	+0.030%	$149K	$184K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,052.1	+0.064%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDTshort	+0.0100%	1h	1,051.3	−0.005%	$71K	$269K	50x
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,052.1	+0.066%	$836	$799	20x	as long as short
Aevo MU-PERP	+0.0112%	1h	1,051.8	+0.038%	$32K	$1K	10x	as long as short
Binance MUUSDT	+0.0116%	8h	1,052.2	+0.075%	$126.6M	$518.3M	50x	as long as short
Bitget MUUSDT	+0.0122%	8h	1,052.2	+0.077%	$20.6M	$41.1M	50x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0206%	1h	1,052.1	+0.067%	$68K	$383K	10x	as long as short
Phoenix MU	+0.0229%	1h	1,051.7	+0.030%	$538K	$271K	15x	as long as short
BloFin MU-USDT	+0.0236%	8h	1,052.2	+0.078%	$1.5M	$2.0M	20x	as long as short