Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0189%/8h= +20.7% APRpaid last 24h +0.036%

Price spread now: tradeXYZ against Variational Omni−0.027%7-day average −0.067% · you buy dearer than you sell

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

Long on Variational Omni Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.013%+$1 on $10k

Price spread, last 7 days+0.015%+$2 · spread now −0.027%, 7d avg −0.067%

Together, before fees+0.028%+ Points / potential airdropVariational Omni: Active · tradeXYZ: Active · farm board+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and tradeXYZ is 0.040% 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 −0.067%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.013% in total (about 1.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MU	1,044.2	0.0135	pay 0.0135% / 8h	1h 24m	$2.6M	$2.7M	—
Short	tradeXYZ xyz:MU	1,043.9	0.0324	get 0.0041% / 1h	24m 05s	$176.3M	$106.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.027%Rate

Funding earned: $39.72
Price spread: −0.027% → −0.067%: $3.96
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: $25.67
Costs to cover: 0.180%
Break-even: 2.5 days

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; tradeXYZ: live order book, 6 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, 5 min ago	1.92 bp	doesn't fit	3.7 bp −$37	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 6 min ago	0.48 bp	10.4 bp −$10	11.2 bp −$112	15.5 bp −$1,555	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	−0.011%	$1.3M	$671K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,044.2	−0.003%	$62.9M	$29.0M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,043.4	−0.072%	$189K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,046.6	+0.228%	$11K	$6.6M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,044	−0.022%	$125K	$441K	50x	as long as short
OKX MU-USDT-SWAP	+0.0030%	8h	1,044.2	−0.001%	$30.8M	$104.9M	50x	as long as short
Aftermath Perps MUUSD	+0.0031%	1h	1,044	−0.019%	$3K	$45K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,043.9	−0.028%	$1.2M	$4.2M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.625%	$14K	$302	12x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,043.8	−0.041%	—	$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	−0.018%	$165K	$192K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,044.2	−0.002%	$685K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,043.4	−0.080%	$2.0M	$2.7M	10x	as long as short
QFEX MU-USD	+0.0071%	1h	1,044	−0.021%	$7.8M	$24.2M	10x	as long as short
Aster MUUSD1	+0.0079%	8h	1,044.7	+0.048%	$21.5M	$47.4M	20x	as long as short
Bitget MUUSDT	+0.0099%	8h	1,044.1	−0.008%	$20.4M	$43.1M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,043.6	−0.058%	$154K	$181K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,043.5	−0.066%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,044	−0.016%	$71K	$266K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,044.4	+0.018%	$830	$799	20x	as long as short
Aevo MU-PERP	+0.0120%	1h	1,044	−0.015%	$33K	—	10x	as long as short
Paradex MU-USD-PERP	+0.0132%	8h	1,043.9	−0.025%	$2K	—	5x	as long as short
Variational Omni MUlong	+0.0135%	8h	1,044.2	long leg	$2.6M	$2.7M	—
Binance MUUSDT	+0.0155%	8h	1,044.2	+0.006%	$124.9M	$536.0M	50x	as long as short
Coinbase International MU-PERP-INTX	+0.0184%	1h	1,043.9	−0.027%	$756K	$1.4M	10x	as long as short
Lighter MU	+0.0192%	1h	1,044	−0.015%	$1.0M	$4.8M	20x	as long as short
GRVT MU_USDT_Perp	+0.0210%	8h	1,044.6	+0.035%	$82K	$1.4M	10x	as long as short
Nado MU-PERP	+0.0210%	1h	1,043.2	−0.090%	$266K	$868K	10x	as long as short
Bybit MUUSDT	+0.0238%	8h	1,044.3	+0.015%	$19.2M	$32.6M	100x	as long as short
Bullet MU-USD	+0.0267%	1h	1,044.3	+0.010%	$26K	$398K	10x	as long as short
BloFin MU-USDT	+0.0273%	8h	1,044.6	+0.042%	$1.4M	$2.0M	20x	as long as short
tradeXYZ xyz:MUshort	+0.0324%	1h	1,043.9	−0.027%	$176.3M	$106.7M	10x
Phoenix MU	+0.0383%	1h	1,044.4	+0.021%	$534K	$306K	15x	as long as short
Arcus MU-USD	+0.0435%	1h	1,043.7	−0.050%	$73K	$241K	10x	as long as short
RISEx MU/USDC	+0.0499%	1h	1,044.5	+0.030%	$295K	$338K	20x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0642%	1h	1,044.1	−0.011%	$61K	$247K	10x	as long as short
Extended MU_24_5-USD	+0.0664%	1h	1,043	−0.114%	$541K	$1.1M	10x	as long as short