Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.022%

Price spread now: ApeX Omni against OKX−0.371%90s7-day average +0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as 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−$480.478% of the position

Long on OKX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.062%+$6 on $10k

Price spread, last 4 days (all we have)+0.321%+$32 · spread now −0.371%, 7d avg +0.004%

Together, before fees+0.383%+$38 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.375% cheaper against OKX than usual: you would sell low and buy high (spread −0.371% now, against its 7-day average of +0.004%). If the spread goes back, that is −$37 on $10k: about 12 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.062% in total) that is about 42 days. The two prices were read 90 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	OKX MU-USDT-SWAP	1,030.2	0	get 0.0000% / 8h	7h 19m	$29.1M	$103.4M	50x
Short	ApeX Omni MUUSDT	1,026.4	0.0100	get 0.0013% / 1h	19m 58s	$70K	$270K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against OKX. 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 OKXbpFee ApeX OmnibpOrdersPrice spread, now −0.371%Rate

Funding earned: $21
Price spread: −0.371% → +0.004%: −$37.48
Slippage, 4 orders: −$27.75
Fee OKX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$64.23
Costs to cover: 0.478%
Break-even: 28.4 days

Slippage from OKX: live order book, 4 min ago; ApeX Omni: live order book, 12 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 OKX live order book, 4 min ago	0.05 bp	5.0 bp −$5	6.9 bp −$69	19.9 bp −$1,993	doesn't fit
Sell ApeX Omni live order book, 12 min ago	7.26 bp	18.9 bp −$19	178.5 bp −$1,785	doesn't fit	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	−0.0959%	4h	1,026.4	−0.372%	$1.3M	$695K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,029.8	−0.035%	$21.0M	$69.2M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,030.2	−0.001%	$121.8M	$549.1M	50x	as long as short
OKX MU-USDT-SWAPlong	0.0000%	8h	1,030.2	long leg	$29.1M	$103.4M	50x
RISEx MU/USDC	0.0000%	1h	1,029.4	−0.078%	$293K	$386K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,029.4	−0.080%	$61.8M	$28.4M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,030	−0.024%	$19.8M	$41.1M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,029.6	−0.056%	$2.5M	$2.6M	—	as long as short
StandX MU-USD	0.0000%	1h	1,028.6	−0.160%	$186K	$3.6M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,030.5	+0.024%	$11K	$5.3M	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX MU-USDT	0.0000%	8h	1,029.1	−0.107%	$118K	$494K	50x	as long as short
Bybit MUUSDT	+0.0007%	8h	1,030	−0.017%	$18.7M	$32.4M	100x	as long as short
QFEX MU-USD	+0.0027%	1h	1,029.4	−0.082%	$6.9M	$18.9M	10x	as long as short
Aftermath Perps MUUSD	+0.0029%	1h	1,026.9	−0.321%	$3K	$43K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,029.3	−0.085%	$1.1M	$4.5M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,029	−0.117%	$539K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+2.054%	$19K	$5K	12x	as long as short
GRVT MU_USDT_Perp	+0.0040%	8h	1,026.9	−0.319%	$81K	$1.4M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,029.2	−0.102%	$89K	$234K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,029.1	−0.103%	—	$179K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,029.2	−0.097%	$166K	$177K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,029.4	−0.081%	$676K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,028.6	−0.154%	$1.9M	$3.1M	10x	as long as short
Paradex MU-USD-PERP	+0.0070%	8h	1,029.4	−0.081%	$2K	—	5x	as long as short
Lighter MU	+0.0080%	1h	1,029.5	−0.071%	$992K	$5.0M	20x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,029.1	−0.109%	$32K	$1K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0096%	1h	1,029.4	−0.077%	$719K	$1.1M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,029	−0.116%	$146K	$194K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,028.9	−0.126%	$5.1M	$4.7M	20x	as long as short
ApeX Omni MUUSDTshort	+0.0100%	1h	1,026.4	−0.371%	$70K	$270K	50x
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,029.1	−0.108%	$818	$799	20x	as long as short
tradeXYZ xyz:MU	+0.0100%	1h	1,029.2	−0.097%	$174.0M	$78.9M	10x	as long as short
Nado MU-PERP	+0.0101%	1h	1,028.5	−0.160%	$263K	$815K	10x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,029.4	−0.081%	$1.5M	$2.3M	20x	as long as short
Bullet MU-USD	+0.0145%	1h	1,029.6	−0.059%	$25K	$388K	10x	as long as short
Phoenix MU	+0.0231%	1h	1,028.4	−0.175%	$526K	$270K	15x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0294%	1h	1,029.4	−0.081%	$72K	$631K	10x	as long as short