Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: tradeXYZ against Bybit+0.005%7-day average −0.074% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$340.338% of the position

Long on Bybit Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.083%+$8 on $10k

Price spread, last 7 days−0.056%−$6 · spread now +0.005%, 7d avg −0.074%

Together, before fees+0.027%+ Points / potential airdroptradeXYZ: Active · farm board+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and tradeXYZ is 0.079% dearer against Bybit than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.074%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MUUSDT	1,037.5	0	get 0.0000% / 8h	31m 21s	$18.8M	$32.3M	100x
Short	tradeXYZ xyz:MU	1,037.5	0.0050	get 0.0006% / 1h	31m 21s	$176.3M	$82.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now +0.005%Rate

Funding earned: $10.5
Price spread: +0.005% → −0.074%: $7.87
Slippage, 4 orders: −$4.76
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$15.39
Costs to cover: 0.338%
Break-even: 17.3 days

Slippage from Bybit: live order book, 2 min ago; tradeXYZ: 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 Bybit live order book, 2 min ago	0.67 bp	6.9 bp −$7	11.0 bp −$110	32.6 bp −$3,260	doesn't fit
Sell tradeXYZ live order book, 9 min ago	0.48 bp	9.9 bp −$10	11.1 bp −$111	16.0 bp −$1,601	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	−0.0695%	4h	1,037.8	+0.035%	$1.3M	$674K	10x	as long as short
Bitget MUUSDT	−0.0176%	8h	1,037.8	+0.037%	$20.2M	$40.0M	50x	as long as short
Aster MUUSD1	0.0000%	8h	1,038	+0.057%	$21.2M	$65.6M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,037.6	+0.014%	$122.0M	$538.5M	50x	as long as short
Bybit MUUSDTlong	0.0000%	8h	1,037.5	long leg	$18.8M	$32.3M	100x
OKX MU-USDT-SWAP	0.0000%	8h	1,037.4	−0.005%	$29.8M	$100.1M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,037.8	+0.030%	$313K	$385K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,037.5	+0.002%	$61.4M	$28.3M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,037.7	+0.023%	$2.5M	$2.6M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,038.4	+0.087%	$71K	$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	1,037.9	+0.042%	$188K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,039.4	+0.185%	$11K	$5.5M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,037.4	−0.001%	$74K	$610K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,037.3	−0.018%	$126K	$481K	50x	as long as short
Bullet MU-USD	+0.0014%	1h	1,037.7	+0.027%	$25K	$390K	10x	as long as short
Aftermath Perps MUUSD	+0.0018%	1h	1,037.8	+0.037%	$3K	$44K	10x	as long as short
Nado MU-PERP	+0.0021%	1h	1,037.4	−0.009%	$280K	$806K	10x	as long as short
QFEX MU-USD	+0.0021%	1h	1,037.6	+0.013%	$7.0M	$18.8M	10x	as long as short
Lighter MU	+0.0032%	1h	1,037.7	+0.027%	$1.0M	$4.9M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,037.6	+0.016%	$1.1M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,037.1	−0.034%	$545K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.341%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,037.3	−0.018%	$90K	$245K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,037.6	+0.014%	—	$175K	25x	as long as short
tradeXYZ xyz:MUshort	+0.0050%	1h	1,037.5	+0.005%	$176.3M	$82.7M	10x
Polymarket Perps MU-USD	+0.0050%	1h	1,037.4	−0.005%	$168K	$195K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,037.5	+0.003%	$681K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,037.1	−0.036%	$1.8M	$2.7M	10x	as long as short
Paradex MU-USD-PERP	+0.0051%	8h	1,037.7	+0.019%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,037.2	−0.020%	$32K	$1K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0080%	1h	1,037.6	+0.012%	$725K	$1.2M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,037.4	−0.003%	$147K	$188K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,037.4	−0.005%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,037.2	−0.022%	$70K	$270K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,037.6	+0.014%	$825	$799	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,037.7	+0.020%	$1.5M	$2.1M	20x	as long as short
Phoenix MU	+0.0232%	1h	1,038.2	+0.072%	$531K	$270K	15x	as long as short