Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against KuCoin+0.133%7-day average +0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$600.597% of the position

Long on KuCoin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.014%+$1 on $10k

Price spread, last 4 days (all we have)−0.177%−$18 · spread now +0.133%, 7d avg +0.039%

Together, before fees−0.163%−$16 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.094% dearer against KuCoin than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MUUSDTM	1,048.9	0.0100	pay 0.0100% / 8h	6h 12m	$5.3M	$3.5M	20x
Short	ApeX Omni MUUSDT	1,050.3	0.0100	get 0.0013% / 1h	12m 48s	$71K	$268K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against KuCoin. 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 KuCoinbpFee ApeX OmnibpOrdersPrice spread, now +0.133%Rate

Funding earned: $0
Price spread: +0.133% → +0.039%: $9.43
Slippage, 4 orders: −$37.72
Fee KuCoin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$50.29
Costs to cover: 0.597%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; ApeX Omni: live order book, 54 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 KuCoin live order book, 5 min ago	2.86 bp	15.1 bp −$15	515.6 bp −$5,156	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 54 min ago	5.61 bp	17.0 bp −$17	194.7 bp −$1,947	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	−0.0227%	4h	1,049.8	+0.089%	$1.3M	$673K	10x	as long as short
Nado MU-PERP	−0.0003%	1h	1,049.6	+0.063%	$277K	$854K	10x	as long as short
Bybit MUUSDT	0.0000%	8h	1,049.6	+0.065%	$19.2M	$32.6M	100x	as long as short
Gate MU_USDT	0.0000%	8h	1,049.1	+0.020%	$62.0M	$27.7M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,049.6	+0.066%	$190K	$3.4M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,049.1	+0.018%	$25K	$394K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,050.4	+0.140%	$11K	$6.0M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,048.9	−0.006%	$66K	$342K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,048.9	+0.003%	$129K	$426K	50x	as long as short
Aftermath Perps MUUSD	+0.0017%	1h	1,049.4	+0.044%	$3K	$45K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MU	+0.0032%	1h	1,049	+0.010%	$1.1M	$4.8M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,049	+0.008%	$1.2M	$4.2M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,048.8	−0.010%	$567K	$1.1M	10x	as long as short
QFEX MU-USD	+0.0040%	1h	1,049.6	+0.064%	$7.4M	$19.2M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,049.7	+0.074%	$71K	$236K	10x	as long as short
GRVT MU_USDT_Perp	+0.0041%	8h	1,050.2	+0.124%	$81K	$1.3M	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,050.4	+0.145%	—	$175K	25x	as long as short
OKX MU-USDT-SWAP	+0.0048%	8h	1,049.3	+0.036%	$30.8M	$100.4M	50x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,049.1	+0.018%	$178.1M	$99.7M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,049	+0.009%	$170K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,049	+0.012%	$688K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,049.3	+0.039%	$1.9M	$2.3M	10x	as long as short
Paradex MU-USD-PERP	+0.0061%	8h	1,049.7	+0.077%	$2K	—	5x	as long as short
Pacifica MU	+0.0100%	1h	1,049.5	+0.054%	$148K	$187K	10x	as long as short
KuCoin MUUSDTMlong	+0.0100%	8h	1,048.9	long leg	$5.3M	$3.5M	20x
ApeX Omni MUUSDTshort	+0.0100%	1h	1,050.3	+0.133%	$71K	$268K	50x
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,049.2	+0.031%	$834	$799	20x	as long as short
Injective MU/USDC PERP	+0.0107%	1h	1,051.4	+0.234%	$19K	$5K	12x	as long as short
Aevo MU-PERP	+0.0128%	1h	1,048.9	−0.004%	$32K	$1K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0128%	1h	1,050.3	+0.131%	$757K	$1.2M	10x	as long as short
Aster MUUSD1	+0.0145%	8h	1,049.2	+0.028%	$21.6M	$51.7M	20x	as long as short
Variational Omni MU	+0.0171%	8h	1,049.8	+0.085%	$2.7M	$2.4M	—	as long as short
Binance MUUSDT	+0.0186%	8h	1,049.1	+0.018%	$126.3M	$522.6M	50x	as long as short
Bitget MUUSDT	+0.0222%	8h	1,049.1	+0.022%	$20.5M	$41.9M	50x	as long as short
Phoenix MU	+0.0304%	1h	1,050.2	+0.123%	$537K	$273K	15x	as long as short
RISEx MU/USDC	+0.0507%	1h	1,049.7	+0.077%	$334K	$349K	20x	as long as short