Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.022%

Price spread now: OKX against ApeX Omni+0.367%110s7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$480.478% of the position

Long on ApeX Omni Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.062%−$6 on $10k

Price spread, last 4 days (all we have)−0.317%−$32 · spread now +0.367%, 7d avg −0.004%

Together, before fees−0.379%−$38 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.371% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.367% now, against its 7-day average of −0.004%): +$37 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 12 days. At the pace of the last 7 days (−0.062% in total) that is about 42 days. The two prices were read 110 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	ApeX Omni MUUSDT	1,026.4	0.0100	pay 0.0013% / 1h	19m 46s	$70K	$270K	50x
Short	OKX MU-USDT-SWAP	1,030.2	0	get 0.0000% / 8h	7h 19m	$29.1M	$103.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against ApeX 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 ApeX OmnibpFee OKXbpOrdersPrice spread, now +0.367%Rate

Funding earned: −$21
Price spread: +0.367% → −0.004%: $37.13
Slippage, 4 orders: −$27.75
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$31.62
Costs to cover: 0.478%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 12 min ago; OKX: live order book, 4 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 ApeX Omni live order book, 12 min ago	7.26 bp	18.5 bp −$18	181.0 bp −$1,810	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.05 bp	5.4 bp −$5	7.1 bp −$71	18.6 bp −$1,864	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	−0.0959%	4h	1,026.4	−0.001%	$1.3M	$695K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,030.5	+0.401%	$21.1M	$69.2M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,030.2	+0.367%	$121.8M	$548.9M	50x	as long as short
OKX MU-USDT-SWAPshort	0.0000%	8h	1,030.2	+0.367%	$29.1M	$103.4M	50x
RISEx MU/USDC	0.0000%	1h	1,029.4	+0.294%	$293K	$386K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,029.8	+0.334%	$61.8M	$28.4M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,030.2	+0.371%	$19.8M	$41.1M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,029.6	+0.316%	$2.5M	$2.6M	—	as long as short
StandX MU-USD	0.0000%	1h	1,028.6	+0.211%	$186K	$3.6M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,030.5	+0.397%	$11K	$5.3M	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX MU-USDT	0.0000%	8h	1,029.1	+0.265%	$118K	$494K	50x	as long as short
Bybit MUUSDT	+0.0009%	8h	1,030.1	+0.365%	$18.7M	$32.4M	100x	as long as short
QFEX MU-USD	+0.0027%	1h	1,029.4	+0.290%	$6.9M	$18.9M	10x	as long as short
Aftermath Perps MUUSD	+0.0029%	1h	1,026.9	+0.050%	$3K	$43K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,030	+0.348%	$1.1M	$4.5M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,029	+0.254%	$539K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+2.434%	$19K	$5K	12x	as long as short
GRVT MU_USDT_Perp	+0.0040%	8h	1,026.9	+0.052%	$81K	$1.4M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,029.2	+0.270%	$89K	$234K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,029.1	+0.269%	—	$179K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,029.2	+0.275%	$166K	$177K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,029.4	+0.291%	$676K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,028.6	+0.217%	$1.9M	$3.1M	10x	as long as short
Paradex MU-USD-PERP	+0.0070%	8h	1,029.4	+0.291%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,029.1	+0.262%	$32K	$1K	10x	as long as short
Lighter MU	+0.0088%	1h	1,030.1	+0.366%	$991K	$5.0M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0096%	1h	1,029.4	+0.295%	$719K	$1.1M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,029	+0.255%	$146K	$194K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,028.9	+0.246%	$5.1M	$4.7M	20x	as long as short
ApeX Omni MUUSDTlong	+0.0100%	1h	1,026.4	long leg	$70K	$270K	50x
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,029.1	+0.264%	$818	$799	20x	as long as short
tradeXYZ xyz:MU	+0.0101%	1h	1,029.9	+0.343%	$174.1M	$79.0M	10x	as long as short
Nado MU-PERP	+0.0101%	1h	1,028.5	+0.211%	$263K	$815K	10x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,029.4	+0.291%	$1.5M	$2.3M	20x	as long as short
Bullet MU-USD	+0.0145%	1h	1,029.6	+0.313%	$25K	$388K	10x	as long as short
Phoenix MU	+0.0231%	1h	1,028.4	+0.197%	$526K	$270K	15x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0294%	1h	1,029.4	+0.291%	$72K	$631K	10x	as long as short