Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0403%/8h= −44.1% APRpaid last 24h −0.034%

Price spread now: OKX against Extended+0.030%7-day average +0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

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

costs, in and out, $10k−$250.254% of the position

Long on Extended Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.060%−$6 on $10k

Price spread, last 4 days (all we have)+0.051%+$5 · spread now +0.030%, 7d avg +0.039%

Together, before fees−0.010%+ Points / potential airdropExtended: Active · farm board−$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.039%, so right now this pair is about funding alone: −$12 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.060% in total (about -3.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended MU_24_5-USD	1,050.6	0.0496	pay 0.0062% / 1h	45m 55s	$558K	$1.1M	10x
Short	OKX MU-USDT-SWAP	1,050.9	0.0093	get 0.0093% / 8h	7h 45m	$30.9M	$102.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Extended. 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 ExtendedbpFee OKXbpOrdersPrice spread, now +0.030%Rate

Funding earned: −$84.61
Price spread: +0.030% → +0.039%: −$0.99
Slippage, 4 orders: −$10.42
Fee Extended: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$111.01
Costs to cover: 0.254%
Break-even: never at this rate

Slippage from Extended: live order book, 2 min ago; OKX: live order book, 3 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 Extended live order book, 2 min ago	3.18 bp	5.9 bp −$6	13.0 bp −$130	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.05 bp	5.1 bp −$5	6.4 bp −$64	18.8 bp −$1,881	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	−0.0892%	4h	1,050.2	−0.031%	$1.3M	$673K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,051.3	+0.072%	$62.9M	$28.7M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,050.6	−0.002%	$190K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,052.8	+0.208%	$11K	$6.3M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,051.2	+0.060%	$129K	$426K	50x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0016%	1h	1,051	+0.039%	$63K	$294K	10x	as long as short
Aftermath Perps MUUSD	+0.0020%	1h	1,050.1	−0.047%	$3K	$45K	10x	as long as short
Lighter MU	+0.0032%	1h	1,051.3	+0.066%	$1.1M	$4.7M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,051.2	+0.055%	$1.2M	$4.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.075%	$19K	$5K	12x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MU-USD-PERP	+0.0046%	1h	1,052.8	+0.216%	—	$195K	25x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,052.2	+0.151%	$1.9M	$2.3M	10x	as long as short
QFEX MU-USD	+0.0054%	1h	1,052	+0.131%	$7.8M	$23.2M	10x	as long as short
Nado MU-PERP	+0.0059%	1h	1,052.2	+0.157%	$275K	$862K	10x	as long as short
OKX MU-USDT-SWAPshort	+0.0093%	8h	1,050.9	+0.030%	$30.9M	$102.2M	50x
Pacifica MU	+0.0100%	1h	1,052.2	+0.155%	$152K	$177K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,050.6	+0.007%	$5.3M	$3.6M	20x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,051.8	+0.115%	$836	$799	20x	as long as short
Paradex MU-USD-PERP	+0.0101%	8h	1,052.4	+0.173%	$2K	—	5x	as long as short
Bybit MUUSDT	+0.0129%	8h	1,051.3	+0.068%	$19.2M	$32.6M	100x	as long as short
Aevo MU-PERP	+0.0136%	1h	1,051.2	+0.059%	$32K	$1K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0184%	1h	1,052.2	+0.151%	$762K	$1.3M	10x	as long as short
Variational Omni MU	+0.0192%	8h	1,051.7	+0.111%	$2.7M	$2.4M	—	as long as short
Polymarket Perps MU-USD	+0.0202%	1h	1,051.3	+0.069%	$170K	$202K	10x	as long as short
Aster MUUSD1	+0.0203%	8h	1,050.6	+0.008%	$21.6M	$47.8M	20x	as long as short
Binance MUUSDT	+0.0207%	8h	1,051.1	+0.049%	$126.4M	$526.6M	50x	as long as short
Arcus MU-USD	+0.0240%	1h	1,051	+0.042%	$71K	$242K	10x	as long as short
Bitget MUUSDT	+0.0262%	8h	1,050.6	−0.002%	$20.6M	$41.7M	50x	as long as short
RISEx MU/USDC	+0.0312%	1h	1,052.1	+0.148%	$316K	$339K	20x	as long as short
BloFin MU-USDT	+0.0326%	8h	1,053	+0.229%	$1.5M	$2.1M	20x	as long as short
ApeX Omni MUUSDT	+0.0363%	1h	1,050.9	+0.031%	$71K	$267K	50x	as long as short
Phoenix MU	+0.0383%	1h	1,050.3	−0.026%	$537K	$306K	15x	as long as short
Bullet MU-USD	+0.0425%	1h	1,051.8	+0.113%	$26K	$394K	10x	as long as short
tradeXYZ xyz:MU	+0.0456%	1h	1,050.9	+0.031%	$178.3M	$101.6M	10x	as long as short
SoDEX MU-USD	+0.0493%	1h	1,051.2	+0.055%	$690K	$16K	10x	as long as short
Extended MU_24_5-USDlong	+0.0496%	1h	1,050.6	long leg	$558K	$1.1M	10x
GRVT MU_USDT_Perp	+0.0707%	8h	1,050.8	+0.022%	$83K	$1.4M	10x	as long as short