Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h −0.028%

Price spread now: ApeX Omni against BloFin−0.290%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$500.503% of the position

Long on BloFin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.225%−$22 on $10k

Price spread, last 4 days (all we have)+0.421%+$42 · spread now −0.290%, 7d avg −0.008%

Together, before fees+0.196%+$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and ApeX Omni is 0.283% cheaper against BloFin than usual: you would sell low and buy high (−$28 if the spread goes back to its 7-day average of −0.008%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin MU-USDT	1,029.4	0.0120	pay 0.0120% / 8h	7h 20m	$1.5M	$2.3M	20x
Short	ApeX Omni MUUSDT	1,026.4	0.0100	get 0.0013% / 1h	20m 13s	$70K	$270K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BloFin. 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 BloFinbpFee ApeX OmnibpOrdersPrice spread, now −0.290%Rate

Funding earned: −$4.2
Price spread: −0.290% → −0.008%: −$28.29
Slippage, 4 orders: −$28.25
Fee BloFin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$82.75
Costs to cover: 0.503%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; ApeX Omni: live order book, 12 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 BloFin live order book, 3 min ago	0.05 bp	6.7 bp −$7	8.6 bp −$86	14.9 bp −$1,488	doesn't fit
Sell ApeX Omni live order book, 12 min ago	7.26 bp	18.9 bp −$19	178.5 bp −$1,785	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	−0.0959%	4h	1,026.4	−0.291%	$1.3M	$695K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,029.8	+0.046%	$21.0M	$69.2M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,029.6	+0.025%	$121.8M	$548.7M	50x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,029.5	+0.013%	$29.1M	$103.2M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,029.4	+0.003%	$293K	$386K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,029.4	+0.001%	$61.8M	$28.4M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,029.7	+0.036%	$19.8M	$41.1M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,029.6	+0.025%	$2.5M	$2.6M	—	as long as short
StandX MU-USD	0.0000%	1h	1,028.6	−0.080%	$186K	$3.6M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,030.5	+0.105%	$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	−0.026%	$118K	$494K	50x	as long as short
Bybit MUUSDT	+0.0007%	8h	1,029.6	+0.025%	$18.6M	$32.4M	100x	as long as short
QFEX MU-USD	+0.0027%	1h	1,029.4	−0.001%	$6.9M	$18.9M	10x	as long as short
Aftermath Perps MUUSD	+0.0029%	1h	1,026.9	−0.241%	$3K	$43K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,029.3	−0.005%	$1.1M	$4.5M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,028.5	−0.083%	$539K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+2.136%	$19K	$5K	12x	as long as short
GRVT MU_USDT_Perp	+0.0040%	8h	1,026.9	−0.239%	$81K	$1.4M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,029.2	−0.021%	$89K	$234K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,029.1	−0.022%	—	$179K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,029.2	−0.017%	$166K	$177K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,029.4	0.000%	$676K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,028.6	−0.074%	$1.9M	$3.1M	10x	as long as short
Paradex MU-USD-PERP	+0.0070%	8h	1,029.4	−0.001%	$2K	—	5x	as long as short
Lighter MU	+0.0080%	1h	1,029.5	+0.010%	$992K	$5.0M	20x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,029.1	−0.029%	$32K	$1K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0096%	1h	1,029.4	+0.004%	$719K	$1.1M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,029	−0.036%	$146K	$194K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,028.4	−0.093%	$5.1M	$4.7M	20x	as long as short
ApeX Omni MUUSDTshort	+0.0100%	1h	1,026.4	−0.290%	$70K	$270K	50x
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,029.1	−0.027%	$818	$799	20x	as long as short
tradeXYZ xyz:MU	+0.0100%	1h	1,029.2	−0.017%	$174.0M	$78.9M	10x	as long as short
Nado MU-PERP	+0.0101%	1h	1,028.5	−0.080%	$263K	$815K	10x	as long as short
BloFin MU-USDTlong	+0.0120%	8h	1,029.4	long leg	$1.5M	$2.3M	20x
Bullet MU-USD	+0.0145%	1h	1,029.6	+0.022%	$25K	$388K	10x	as long as short
Phoenix MU	+0.0231%	1h	1,028.4	−0.094%	$526K	$270K	15x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0294%	1h	1,029.4	0.000%	$72K	$631K	10x	as long as short