Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0895%/8h= −98.0% APRpaid last 24h −0.001%

Price spread now: edgeX against RISEx−0.011%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$200.195% of the position

Long on RISEx Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.300%+$30 on $10k

Price spread, last 4 days (all we have)+0.204%+$20 · spread now −0.011%, 7d avg −0.008%

Together, before fees+0.504%+ Points / potential airdropedgeX: Active · farm board+$50 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.008%, so right now this pair is about funding alone: −$27 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair paid +0.300%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.300% in total (about 31.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx MU/USDC	1,050.7	0.0507	pay 0.0063% / 1h	59m 33s	$316K	$340K	20x
Short	edgeX MUUSDC	1,050.6	−0.0387	pay 0.0194% / 4h	2h 59m	$1.3M	$672K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against RISEx. 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 RISExbpFee edgeXbpOrdersPrice spread, now −0.011%Rate

Funding earned: −$187.86
Price spread: −0.011% → −0.008%: −$0.26
Slippage, 4 orders: −$4.53
Fee RISEx: 3 bp × 2 orders: −$6
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$207.64
Costs to cover: 0.195%
Break-even: never at this rate

Slippage from RISEx: live order book, 9 min ago; edgeX: live order book, 4 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 RISEx live order book, 9 min ago	1.71 bp	4.7 bp −$5	5.3 bp −$53	doesn't fit	doesn't fit
Sell edgeX live order book, 4 min ago	0.43 bp	5.1 bp −$5	6.6 bp −$66	29.6 bp −$2,956	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 MUUSDCshort	−0.0387%	4h	1,050.6	−0.011%	$1.3M	$672K	10x
Gate MU_USDT	0.0000%	8h	1,050.5	−0.023%	$62.6M	$27.2M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,050.1	−0.059%	$190K	$3.3M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,050.6	−0.012%	$26K	$396K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,051.7	+0.094%	$11K	$6.1M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,050.4	−0.031%	$66K	$315K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,050.6	−0.010%	$129K	$424K	50x	as long as short
Aftermath Perps MUUSD	+0.0022%	1h	1,050.7	−0.004%	$3K	$45K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,050.6	−0.017%	$1.2M	$4.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.060%	$19K	$5K	12x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MU	+0.0040%	1h	1,050.7	0.000%	$1.1M	$4.7M	20x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,051.5	+0.073%	—	$179K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,050.4	−0.031%	$178.4M	$100.2M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,050.2	−0.050%	$171K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,050.4	−0.029%	$689K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,049.9	−0.078%	$1.9M	$2.3M	10x	as long as short
QFEX MU-USD	+0.0054%	1h	1,050.5	−0.020%	$7.6M	$20.9M	10x	as long as short
Nado MU-PERP	+0.0079%	1h	1,050.5	−0.026%	$275K	$858K	10x	as long as short
Paradex MU-USD-PERP	+0.0080%	8h	1,050.7	0.000%	$2K	—	5x	as long as short
OKX MU-USDT-SWAP	+0.0100%	8h	1,050.6	−0.008%	$30.9M	$101.5M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,050.5	−0.019%	$149K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,050.9	+0.020%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,050.5	−0.020%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050.6	−0.014%	$835	$799	20x	as long as short
Bybit MUUSDT	+0.0150%	8h	1,050.8	+0.010%	$19.4M	$32.6M	100x	as long as short
Aevo MU-PERP	+0.0152%	1h	1,050.4	−0.027%	$32K	$1K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0184%	1h	1,050.5	−0.023%	$762K	$1.2M	10x	as long as short
Extended MU_24_5-USD	+0.0232%	1h	1,050.1	−0.060%	$559K	$1.2M	10x	as long as short
Arcus MU-USD	+0.0240%	1h	1,050.6	−0.013%	$71K	$242K	10x	as long as short
Variational Omni MU	+0.0260%	8h	1,050.4	−0.035%	$2.7M	$2.4M	—	as long as short
Aster MUUSD1	+0.0268%	8h	1,051.1	+0.038%	$21.6M	$48.7M	20x	as long as short
Binance MUUSDT	+0.0272%	8h	1,050.6	−0.016%	$126.1M	$522.2M	50x	as long as short
Phoenix MU	+0.0383%	1h	1,050.9	+0.017%	$538K	$273K	15x	as long as short
BloFin MU-USDT	+0.0392%	8h	1,050.6	−0.014%	$1.5M	$2.0M	20x	as long as short
Bitget MUUSDT	+0.0406%	8h	1,050.6	−0.011%	$20.6M	$41.6M	50x	as long as short
RISEx MU/USDClong	+0.0507%	1h	1,050.7	long leg	$316K	$340K	20x
GRVT MU_USDT_Perp	+0.0549%	8h	1,050.6	−0.007%	$83K	$1.3M	10x	as long as short