Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h +0.011%

Price spread now: Bybit against Polymarket Perps+0.042%7-day average +0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$290.290% of the position

Long on Polymarket Perps Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.018%+$2 on $10k

Price spread, last 4 days (all we have)+0.014%+$1 · spread now +0.042%, 7d avg +0.047%

Together, before fees+0.032%+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.047%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps MU-USD	1,035.8	0.0050	pay 0.0006% / 1h	41m 14s	$168K	$196K	10x
Short	Bybit MUUSDT	1,036.2	0	get 0.0000% / 8h	1h 41m	$18.5M	$32.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Polymarket 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 Polymarket PerpsbpFee BybitbpOrdersPrice spread, now +0.042%Rate

Funding earned: −$10.5
Price spread: +0.042% → +0.047%: −$0.5
Slippage, 4 orders: −$10.04
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$40.04
Costs to cover: 0.290%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 1 min ago; Bybit: live order book, 2 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 Polymarket Perps live order book, 1 min ago	2.90 bp	6.9 bp −$7	7.7 bp −$77	9.1 bp −$912	doesn't fit
Sell Bybit live order book, 2 min ago	0.39 bp	7.9 bp −$8	10.4 bp −$104	28.3 bp −$2,834	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	−0.0796%	4h	1,036.5	+0.072%	$1.3M	$674K	10x	as long as short
Bitget MUUSDT	−0.0164%	8h	1,036.2	+0.035%	$20.2M	$41.4M	50x	as long as short
Aster MUUSD1	0.0000%	8h	1,036.6	+0.081%	$21.1M	$58.0M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,036.1	+0.027%	$121.3M	$537.1M	50x	as long as short
Bybit MUUSDTshort	0.0000%	8h	1,036.2	+0.042%	$18.5M	$32.2M	100x
OKX MU-USDT-SWAP	0.0000%	8h	1,036	+0.019%	$29.9M	$100.8M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,036.3	+0.051%	$315K	$386K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,036	+0.017%	$61.6M	$28.4M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,036.4	+0.062%	$2.5M	$2.6M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,036.1	+0.033%	$73K	$1.4M	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX MU-USD	0.0000%	1h	1,035.9	+0.012%	$187K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,037.2	+0.134%	$11K	$5.6M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,035.7	−0.008%	$74K	$553K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,035.9	+0.005%	$127K	$441K	50x	as long as short
Bullet MU-USD	+0.0007%	1h	1,036.2	+0.039%	$26K	$389K	10x	as long as short
Aftermath Perps MUUSD	+0.0018%	1h	1,036.3	+0.046%	$3K	$44K	10x	as long as short
Nado MU-PERP	+0.0020%	1h	1,035.4	−0.042%	$277K	$816K	10x	as long as short
Lighter MU	+0.0032%	1h	1,036.4	+0.055%	$1.1M	$4.9M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,036.2	+0.039%	$1.2M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,035.6	−0.016%	$540K	$1.1M	10x	as long as short
QFEX MU-USD	+0.0032%	1h	1,036.1	+0.028%	$7.0M	$18.6M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.502%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,036.1	+0.026%	$70K	$230K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,036.1	+0.025%	—	$175K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,035.8	0.000%	$176.0M	$89.2M	10x	as long as short
Polymarket Perps MU-USDlong	+0.0050%	1h	1,035.8	long leg	$168K	$196K	10x
SoDEX MU-USD	+0.0050%	1h	1,035.9	+0.012%	$680K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,034.8	−0.096%	$1.8M	$2.6M	10x	as long as short
Paradex MU-USD-PERP	+0.0052%	8h	1,036.4	+0.055%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,035.6	−0.017%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,036.2	+0.041%	$147K	$190K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,036	+0.022%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,036.8	+0.097%	$70K	$270K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,036.1	+0.026%	$824	$799	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0104%	1h	1,036	+0.021%	$731K	$1.2M	10x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,036.1	+0.028%	$1.5M	$2.1M	20x	as long as short
Phoenix MU	+0.0231%	1h	1,036.2	+0.039%	$530K	$270K	15x	as long as short