Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0050%/8h= +5.4% APRpaid last 24h +0.015%

Price spread now: KuCoin against Ondo Perps−0.016%7-day average +0.058% · you buy dearer than you sell

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

Long on Ondo Perps Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.088%+$9 on $10k

Price spread, last 7 days+0.408%+$41 · spread now −0.016%, 7d avg +0.058%

Together, before fees+0.496%+ Points / potential airdropOndo Perps: Active · farm board+$50 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.074% cheaper against Ondo Perps than usual: you would sell low and buy high (spread −0.016% now, against its 7-day average of +0.058%). If the spread goes back, that is −$7 on $10k: about 5.0 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps MU-USD.P	1,049.3	0.0050	pay 0.0006% / 1h	13m 14s	$1.9M	$2.3M	10x
Short	KuCoin MUUSDTM	1,049.2	0.0100	get 0.0100% / 8h	6h 13m	$5.3M	$3.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Ondo Perps. 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 Ondo PerpsbpFee KuCoinbpOrdersPrice spread, now −0.016%Rate

Funding earned: $10.42
Price spread: −0.016% → +0.058%: −$7.38
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$13.96
Costs to cover: 0.170%
Break-even: 16.4 days

Slippage unknown: Ondo Perps: no order-book sample; KuCoin: live order book, 5 min ago. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 5 min ago	2.86 bp	11.7 bp −$12	35.5 bp −$355	doesn't fit	doesn't fit

Ondo Perps: 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 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	+0.050%	$1.3M	$673K	10x	as long as short
Nado MU-PERP	−0.0003%	1h	1,049.6	+0.024%	$277K	$854K	10x	as long as short
Bybit MUUSDT	0.0000%	8h	1,049.3	−0.007%	$19.2M	$32.6M	100x	as long as short
Gate MU_USDT	0.0000%	8h	1,049.2	−0.009%	$62.0M	$27.7M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,049.6	+0.027%	$190K	$3.4M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,049.1	−0.021%	$25K	$394K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,050.4	+0.101%	$11K	$6.0M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,048.9	−0.045%	$66K	$342K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,048.9	−0.036%	$129K	$426K	50x	as long as short
Aftermath Perps MUUSD	+0.0017%	1h	1,049.4	+0.005%	$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	−0.029%	$1.1M	$4.8M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,049	−0.031%	$1.2M	$4.2M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,048.8	−0.045%	$567K	$1.1M	10x	as long as short
QFEX MU-USD	+0.0040%	1h	1,049.6	+0.025%	$7.4M	$19.2M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,049.7	+0.035%	$71K	$236K	10x	as long as short
GRVT MU_USDT_Perp	+0.0041%	8h	1,050.2	+0.085%	$81K	$1.3M	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,050.4	+0.106%	—	$175K	25x	as long as short
OKX MU-USDT-SWAP	+0.0048%	8h	1,049.2	−0.015%	$30.8M	$100.4M	50x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,049	−0.030%	$178.1M	$99.7M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,049	−0.030%	$170K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,049	−0.027%	$688K	$16K	10x	as long as short
Ondo Perps MU-USD.Plong	+0.0050%	1h	1,049.3	long leg	$1.9M	$2.3M	10x
Paradex MU-USD-PERP	+0.0061%	8h	1,049.7	+0.038%	$2K	—	5x	as long as short
Pacifica MU	+0.0100%	1h	1,049.5	+0.015%	$148K	$187K	10x	as long as short
KuCoin MUUSDTMshort	+0.0100%	8h	1,049.2	−0.016%	$5.3M	$3.5M	20x
ApeX Omni MUUSDT	+0.0100%	1h	1,050.3	+0.094%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,049.2	−0.008%	$834	$799	20x	as long as short
Injective MU/USDC PERP	+0.0107%	1h	1,051.4	+0.194%	$19K	$5K	12x	as long as short
Aevo MU-PERP	+0.0128%	1h	1,048.9	−0.043%	$32K	$1K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0128%	1h	1,050.3	+0.091%	$757K	$1.2M	10x	as long as short
Aster MUUSD1	+0.0145%	8h	1,049.6	+0.030%	$21.6M	$51.7M	20x	as long as short
Variational Omni MU	+0.0171%	8h	1,049.8	+0.046%	$2.7M	$2.4M	—	as long as short
Binance MUUSDT	+0.0186%	8h	1,048.9	−0.036%	$126.3M	$522.4M	50x	as long as short
Bitget MUUSDT	+0.0222%	8h	1,049.1	−0.020%	$20.5M	$41.9M	50x	as long as short
Phoenix MU	+0.0304%	1h	1,050.2	+0.084%	$537K	$273K	15x	as long as short
RISEx MU/USDC	+0.0507%	1h	1,049.7	+0.038%	$334K	$349K	20x	as long as short