Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.011%

Price spread now: Orderly against Deribit+0.037%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Orderly is 0.037% dearer against Deribit than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MU_USDC-PERPETUAL	1,036	0	get 0.0000% / 1h	39m 39s	$74K	$554K	10x
Short	Orderly PERP_MU_USDC_mythos	1,036.4	0.0100	get 0.0100% / 8h	1h 39m	$824	$799	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Deribit. 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 DeribitbpFee OrderlybpOrdersPrice spread, now +0.037%Rate

Funding earned: $21
Price spread: +0.037% → 0.000%: $3.67
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: $11.67
Costs to cover: 0.130%
Break-even: 3.1 days

Slippage unknown: Deribit: live order book, 4 min ago; Orderly: no order-book sample. Net counts fees only.

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 Deribit live order book, 4 min ago	0.05 bp	14.3 bp −$14	17.9 bp −$179	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0796%	4h	1,036.5	+0.050%	$1.3M	$674K	10x	as long as short
Bitget MUUSDT	−0.0178%	8h	1,036.4	+0.038%	$20.2M	$41.4M	50x	as long as short
Aster MUUSD1	0.0000%	8h	1,036.8	+0.078%	$21.1M	$58.0M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,036.3	+0.023%	$121.3M	$537.0M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,036.3	+0.028%	$18.5M	$32.2M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,036.1	+0.003%	$29.9M	$100.1M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,036.4	+0.033%	$315K	$386K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,036.4	+0.032%	$61.6M	$28.4M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,036	−0.003%	$2.5M	$2.6M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,036.1	+0.011%	$73K	$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	1,035.9	−0.011%	$187K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,037.5	+0.137%	$11K	$5.6M	10x	as long as short
Deribit MU_USDC-PERPETUALlong	0.0000%	1h	1,036	long leg	$74K	$554K	10x
HTX MU-USDT	0.0000%	8h	1,036.1	+0.002%	$127K	$441K	50x	as long as short
Bullet MU-USD	+0.0003%	1h	1,036.5	+0.045%	$26K	$389K	10x	as long as short
Nado MU-PERP	+0.0013%	1h	1,036.5	+0.049%	$277K	$816K	10x	as long as short
Aftermath Perps MUUSD	+0.0017%	1h	1,036.1	+0.011%	$3K	$44K	10x	as long as short
Lighter MU	+0.0032%	1h	1,036.3	+0.026%	$1.1M	$4.9M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,036.2	+0.019%	$1.2M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,035.8	−0.020%	$540K	$1.1M	10x	as long as short
QFEX MU-USD	+0.0032%	1h	1,036.4	+0.034%	$7.0M	$18.6M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.480%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,036.1	+0.003%	$70K	$230K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,036.4	+0.036%	—	$175K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,036	−0.003%	$176.0M	$87.9M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,036.3	+0.026%	$168K	$196K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,036.3	+0.022%	$680K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,035.8	−0.019%	$1.8M	$2.6M	10x	as long as short
Paradex MU-USD-PERP	+0.0052%	8h	1,036.2	+0.019%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,035.9	−0.013%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,036.2	+0.012%	$147K	$190K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,036.2	+0.012%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,036.8	+0.074%	$70K	$270K	50x	as long as short
Orderly PERP_MU_USDC_mythosshort	+0.0100%	8h	1,036.4	+0.037%	$824	$799	20x
Coinbase International MU-PERP-INTX	+0.0104%	1h	1,036	−0.001%	$731K	$1.2M	10x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,036.1	+0.006%	$1.5M	$2.1M	20x	as long as short
Phoenix MU	+0.0231%	1h	1,036.2	+0.016%	$530K	$270K	15x	as long as short