Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0093%/8h= +10.2% APRpaid last 24h +0.007%

Price spread now: Nado against Bybit−0.173%49s7-day average −0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$290.288% of the position

Long on Bybit Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.030%−$3 on $10k

Price spread, last 7 days+0.006%+$1 · spread now −0.173%, 7d avg −0.029%

Together, before fees−0.024%+ Points / potential airdropNado: Active · farm board−$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.144% cheaper against Bybit than usual: you would sell low and buy high (spread −0.173% now, against its 7-day average of −0.029%). If the spread goes back, that is −$14 on $10k: about 5.2 days of funding at the current rate (+$3 a day). The two prices were read 49 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	Bybit MUUSDT	1,029.5	0.0007	pay 0.0007% / 8h	7h 20m	$18.6M	$32.4M	100x
Short	Nado MU-PERP	1,027.7	0.0100	get 0.0013% / 1h	20m 41s	$264K	$815K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Bybit. 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 BybitbpFee NadobpOrdersPrice spread, now −0.173%Rate

Funding earned: $19.58
Price spread: −0.173% → −0.029%: −$14.41
Slippage, 4 orders: −$10.84
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$23.67
Costs to cover: 0.288%
Break-even: 15.5 days

Slippage from Bybit: live order book, 3 min ago; Nado: live order book, 13 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 Bybit live order book, 3 min ago	0.29 bp	9.2 bp −$9	12.7 bp −$127	35.9 bp −$3,588	doesn't fit
Sell Nado live order book, 13 min ago	0.05 bp	6.3 bp −$6	22.1 bp −$221	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	−0.303%	$1.3M	$695K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,029.3	−0.022%	$21.0M	$69.2M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,029.4	−0.008%	$121.7M	$548.5M	50x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,029.7	+0.024%	$29.1M	$103.2M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,028	−0.148%	$293K	$387K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,029.3	−0.018%	$61.8M	$28.4M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,029.5	+0.005%	$19.8M	$41.1M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,029.6	+0.013%	$2.5M	$2.6M	—	as long as short
StandX MU-USD	0.0000%	1h	1,028.1	−0.139%	$186K	$3.6M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,030	+0.051%	$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	1,029.3	−0.020%	$118K	$494K	50x	as long as short
Bybit MUUSDTlong	+0.0007%	8h	1,029.5	long leg	$18.6M	$32.4M	100x
QFEX MU-USD	+0.0027%	1h	1,028.4	−0.104%	$6.9M	$18.9M	10x	as long as short
Aftermath Perps MUUSD	+0.0029%	1h	1,026.4	−0.303%	$3K	$43K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,029.1	−0.037%	$1.1M	$4.5M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,028.8	−0.068%	$539K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+2.124%	$19K	$5K	12x	as long as short
GRVT MU_USDT_Perp	+0.0040%	8h	1,026.9	−0.251%	$81K	$1.4M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,029.2	−0.033%	$89K	$234K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,028.2	−0.124%	—	$179K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,028.3	−0.116%	$166K	$177K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,028.7	−0.078%	$675K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,028.6	−0.085%	$1.9M	$3.1M	10x	as long as short
Paradex MU-USD-PERP	+0.0070%	8h	1,029.4	−0.012%	$2K	—	5x	as long as short
Lighter MU	+0.0080%	1h	1,029.2	−0.029%	$992K	$5.0M	20x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,028.7	−0.076%	$32K	$1K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0096%	1h	1,029.4	−0.008%	$719K	$1.1M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,029	−0.048%	$146K	$194K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,028	−0.143%	$5.1M	$4.7M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,026.4	−0.302%	$70K	$270K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,028.4	−0.110%	$818	$799	20x	as long as short
Nado MU-PERPshort	+0.0100%	1h	1,027.7	−0.173%	$264K	$815K	10x
tradeXYZ xyz:MU	+0.0101%	1h	1,028.9	−0.057%	$173.9M	$78.9M	10x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,029.4	−0.012%	$1.5M	$2.3M	20x	as long as short
Bullet MU-USD	+0.0143%	1h	1,029.1	−0.038%	$25K	$388K	10x	as long as short
Phoenix MU	+0.0231%	1h	1,028.4	−0.106%	$526K	$270K	15x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0256%	1h	1,028.9	−0.062%	$72K	$630K	10x	as long as short