Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: SunX against ApeX Omni+0.248%73s7-day average +0.142% · you sell dearer than you buy

Net, funding: paid 7d − costs−$116as 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−$980.978% of the position

Long on ApeX Omni Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.185%−$18 on $10k

Price spread, last 4 days (all we have)−0.202%−$20 · spread now +0.248%, 7d avg +0.142%

Together, before fees−0.387%−$39 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.106% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.248% now, against its 7-day average of +0.142%): +$11 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.5 days. The two prices were read 73 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	1,039.5	0.0100	pay 0.0013% / 1h	10m 08s	$71K	$269K	50x
Short	SunX MU-USDT	1,042.1	0	get 0.0000% / 8h	2h 10m	$11K	$5.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.248%Rate

Funding earned: −$21
Price spread: +0.248% → +0.142%: $10.6
Slippage, 4 orders: −$79.75
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$108.16
Costs to cover: 0.978%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 37 min ago; SunX: live order book, 9 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, 37 min ago	7.68 bp	19.7 bp −$20	186.9 bp −$1,869	doesn't fit	doesn't fit
Sell SunX live order book, 9 min ago	21.56 bp	32.9 bp −$33	doesn't fit	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	−0.0148%	4h	1,038.9	−0.059%	$1.3M	$671K	10x	as long as short
Bitget MUUSDT	−0.0145%	8h	1,041	+0.140%	$20.3M	$41.2M	50x	as long as short
Aster MUUSD1	0.0000%	8h	1,041.5	+0.186%	$21.2M	$57.2M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,041.4	+0.181%	$122.2M	$535.6M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,041.6	+0.195%	$18.7M	$32.1M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,041.4	+0.184%	$30.0M	$101.6M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,040.6	+0.107%	$316K	$382K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,040.9	+0.128%	$61.6M	$28.6M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,040.3	+0.074%	$2.5M	$2.5M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,037.3	−0.211%	$84K	$1.4M	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX MU-USD	0.0000%	1h	1,041	+0.139%	$188K	$3.5M	20x	as long as short
SunX MU-USDTshort	0.0000%	8h	1,042.1	+0.248%	$11K	$5.7M	10x
HTX MU-USDT	0.0000%	8h	1,040.4	+0.084%	$127K	$438K	50x	as long as short
Aftermath Perps MUUSD	+0.0015%	1h	1,038.1	−0.133%	$3K	$44K	10x	as long as short
Nado MU-PERP	+0.0022%	1h	1,040	+0.045%	$277K	$817K	10x	as long as short
QFEX MU-USD	+0.0023%	1h	1,040.2	+0.068%	$7.0M	$18.2M	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,041.1	+0.148%	$1.2M	$4.6M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,040.3	+0.077%	$538K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.138%	$19K	$5K	12x	as long as short
Bullet MU-USD	+0.0037%	1h	1,040.6	+0.103%	$26K	$389K	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,038.9	−0.063%	$70K	$231K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,040.4	+0.087%	—	$175K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,041	+0.141%	$177.0M	$92.0M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,040.2	+0.064%	$169K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,040.6	+0.104%	$683K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,039.7	+0.012%	$1.9M	$2.5M	10x	as long as short
Paradex MU-USD-PERP	+0.0054%	8h	1,040.7	+0.108%	$2K	—	5x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0058%	1h	1,040.5	+0.089%	$74K	$529K	10x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,040.4	+0.084%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,039.9	+0.037%	$148K	$189K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,040.7	+0.115%	$5.2M	$3.8M	20x	as long as short
ApeX Omni MUUSDTlong	+0.0100%	1h	1,039.5	long leg	$71K	$269K	50x
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,040.8	+0.118%	$827	$799	20x	as long as short
Lighter MU	+0.0104%	1h	1,040.8	+0.122%	$1.0M	$5.0M	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,040.8	+0.120%	$1.5M	$2.1M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0144%	1h	1,036	−0.342%	$731K	$1.3M	10x	as long as short
Phoenix MU	+0.0231%	1h	1,039	−0.051%	$531K	$270K	15x	as long as short