Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0140%/8h= +15.3% APRpaid last 24h +0.032%

Price spread now: Bullet against Variational Omni+0.056%52s7-day average +0.021% · you sell dearer than you buy

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

Long on Variational Omni Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.082%+$8 on $10k

Price spread, last 3 days (all we have)−0.038%−$4 · spread now +0.056%, 7d avg +0.021%

Together, before fees+0.043%+ Points / potential airdropVariational Omni: Active · farm board+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Bullet is 0.035% dearer against Variational Omni than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.021%. The two prices were read 52 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	1,043.8	0.0129	pay 0.0129% / 8h	1h 27m	$2.6M	$2.7M	—
Short	Bullet MU-USD	1,044.4	0.0269	get 0.0034% / 1h	27m 36s	$26K	$398K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet 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 BulletbpOrdersPrice spread, now +0.056%Rate

Funding earned: $29.38
Price spread: +0.056% → +0.021%: $3.5
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bullet: 4 bp × 2 orders: −$8
Net: $24.89
Costs to cover: 0.080%
Break-even: 1.1 days

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Bullet: live order book, 56 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	1.92 bp	doesn't fit	3.7 bp −$37	doesn't fit	doesn't fit
Sell Bullet live order book, 56 min ago	0.48 bp	6.7 bp −$7	20.7 bp −$207	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	−0.0856%	4h	1,044.1	+0.023%	$1.3M	$671K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,044.2	+0.035%	$62.9M	$29.0M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,043.2	−0.058%	$189K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,046.7	+0.271%	$11K	$6.6M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,044.1	+0.030%	$125K	$441K	50x	as long as short
OKX MU-USDT-SWAP	+0.0026%	8h	1,044.3	+0.048%	$30.9M	$104.9M	50x	as long as short
Aftermath Perps MUUSD	+0.0031%	1h	1,043.8	0.000%	$3K	$45K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,044.1	+0.024%	$1.2M	$4.2M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.660%	$14K	$302	12x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,043.9	+0.005%	—	$194K	25x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps MU-USD	+0.0050%	1h	1,044	+0.017%	$165K	$189K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,043.1	−0.070%	$2.0M	$2.7M	10x	as long as short
SoDEX MU-USD	+0.0051%	1h	1,044.2	+0.033%	$685K	$16K	10x	as long as short
QFEX MU-USD	+0.0071%	1h	1,044.4	+0.052%	$7.8M	$24.2M	10x	as long as short
Aster MUUSD1	+0.0072%	8h	1,044.9	+0.100%	$21.5M	$47.4M	20x	as long as short
Bitget MUUSDT	+0.0096%	8h	1,044.3	+0.042%	$20.4M	$43.1M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,043.7	−0.012%	$154K	$181K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,043.6	−0.022%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,044	+0.019%	$71K	$266K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,044.4	+0.050%	$830	$799	20x	as long as short
Aevo MU-PERP	+0.0120%	1h	1,044	+0.018%	$33K	—	10x	as long as short
Variational Omni MUlong	+0.0129%	8h	1,043.8	long leg	$2.6M	$2.7M	—
Paradex MU-USD-PERP	+0.0132%	8h	1,044.2	+0.037%	$2K	—	5x	as long as short
Binance MUUSDT	+0.0151%	8h	1,044.4	+0.053%	$124.9M	$536.0M	50x	as long as short
Coinbase International MU-PERP-INTX	+0.0184%	1h	1,043.9	+0.007%	$756K	$1.4M	10x	as long as short
Lighter MU	+0.0192%	1h	1,044.3	+0.044%	$1.0M	$4.8M	20x	as long as short
Nado MU-PERP	+0.0209%	1h	1,043.4	−0.037%	$266K	$868K	10x	as long as short
GRVT MU_USDT_Perp	+0.0210%	8h	1,044.6	+0.070%	$82K	$1.4M	10x	as long as short
Bybit MUUSDT	+0.0235%	8h	1,044.6	+0.070%	$19.2M	$32.6M	100x	as long as short
BloFin MU-USDT	+0.0268%	8h	1,044.6	+0.074%	$1.4M	$2.1M	20x	as long as short
Bullet MU-USDshort	+0.0269%	1h	1,044.4	+0.056%	$26K	$398K	10x
tradeXYZ xyz:MU	+0.0333%	1h	1,044	+0.017%	$176.4M	$107.1M	10x	as long as short
Phoenix MU	+0.0383%	1h	1,044.4	+0.055%	$534K	$306K	15x	as long as short
Arcus MU-USD	+0.0435%	1h	1,044	+0.014%	$73K	$241K	10x	as long as short
RISEx MU/USDC	+0.0499%	1h	1,044.7	+0.079%	$295K	$338K	20x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0507%	1h	1,044.2	+0.034%	$61K	$246K	10x	as long as short
Extended MU_24_5-USD	+0.0656%	1h	1,043.3	−0.049%	$541K	$1.1M	10x	as long as short