Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: ApeX Omni against HTX+0.116%76s7-day average +0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

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

costs, in and out, $10k−$530.532% of the position

Long on HTX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.185%+$18 on $10k

Price spread, last 3 days (all we have)−0.116%−$12 · spread now +0.116%, 7d avg +0.003%

Together, before fees+0.069%+$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and ApeX Omni is 0.113% dearer against HTX than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.003%. The two prices were read 76 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	HTX MU-USDT	1,049.6	0	get 0.0000% / 8h	5h 47m	$129K	$427K	50x
Short	ApeX Omni MUUSDT	1,050.8	0.0100	get 0.0013% / 1h	47m 55s	$71K	$268K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against HTX. 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 HTXbpFee ApeX OmnibpOrdersPrice spread, now +0.116%Rate

Funding earned: $21
Price spread: +0.116% → +0.003%: $11.35
Slippage, 4 orders: −$31.24
Fee HTX: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$20.89
Costs to cover: 0.532%
Break-even: 14.0 days

Slippage from HTX: live order book, 15 min ago; ApeX Omni: live order book, 14 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 HTX live order book, 15 min ago	3.43 bp	10.1 bp −$10	15.5 bp −$155	27.6 bp −$2,762	doesn't fit
Sell ApeX Omni live order book, 14 min ago	6.23 bp	16.4 bp −$16	189.4 bp −$1,894	doesn't fit	doesn't fit

MU on 36 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	−0.0504%	4h	1,050.4	+0.080%	$1.3M	$671K	10x	as long as short
RISEx MU/USDC	0.0000%	1h	1,050	+0.043%	$333K	$349K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,049.9	+0.027%	$62.1M	$27.4M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,050.1	+0.051%	$190K	$3.4M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,051.5	+0.181%	$11K	$5.9M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,049.6	+0.003%	$66K	$356K	10x	as long as short
HTX MU-USDTlong	0.0000%	8h	1,049.6	long leg	$129K	$427K	50x
Bybit MUUSDT	+0.0017%	8h	1,050.1	+0.047%	$19.1M	$32.4M	100x	as long as short
Aftermath Perps MUUSD	+0.0019%	1h	1,049.9	+0.030%	$3K	$44K	10x	as long as short
GRVT MU_USDT_Perp	+0.0024%	8h	1,050.8	+0.114%	$79K	$1.3M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX MU-USD	+0.0030%	1h	1,049.6	+0.001%	$7.3M	$18.4M	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,049.9	+0.028%	$1.2M	$4.2M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.170%	$19K	$5K	12x	as long as short
Extended MU_24_5-USD	+0.0040%	1h	1,049.4	−0.018%	$564K	$1.1M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,050	+0.044%	$71K	$235K	10x	as long as short
OKX MU-USDT-SWAP	+0.0041%	8h	1,050	+0.035%	$31.0M	$100.0M	50x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,050.7	+0.102%	—	$175K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,049.6	+0.002%	$170K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,049.9	+0.033%	$689K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,048.9	−0.061%	$1.9M	$2.3M	10x	as long as short
Paradex MU-USD-PERP	+0.0059%	8h	1,049.9	+0.026%	$2K	—	5x	as long as short
Lighter MU	+0.0080%	1h	1,049.9	+0.030%	$1.1M	$4.8M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0096%	1h	1,049.9	+0.034%	$756K	$1.2M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,049.8	+0.020%	$148K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,050	+0.036%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDTshort	+0.0100%	1h	1,050.8	+0.116%	$71K	$268K	50x
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050	+0.042%	$835	$799	20x	as long as short
Nado MU-PERP	+0.0104%	1h	1,049.7	+0.007%	$280K	$849K	10x	as long as short
Aster MUUSD1	+0.0108%	8h	1,050.2	+0.057%	$21.4M	$52.1M	20x	as long as short
tradeXYZ xyz:MU	+0.0111%	1h	1,049.7	+0.011%	$178.2M	$99.2M	10x	as long as short
Aevo MU-PERP	+0.0120%	1h	1,049.6	0.000%	$32K	$1K	10x	as long as short
Variational Omni MU	+0.0144%	8h	1,050.4	+0.082%	$2.7M	$2.3M	—	as long as short
Bullet MU-USD	+0.0145%	1h	1,050.1	+0.046%	$26K	$397K	10x	as long as short
Binance MUUSDT	+0.0163%	8h	1,049.9	+0.032%	$126.4M	$520.0M	50x	as long as short
Bitget MUUSDT	+0.0165%	8h	1,050	+0.037%	$20.6M	$41.2M	50x	as long as short
Phoenix MU	+0.0229%	1h	1,050.2	+0.059%	$537K	$271K	15x	as long as short