Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0006%/8h= −0.7% APRpaid last 24h +0.042%

Price spread now: Nado against SunX−0.109%7-day average −0.164% · 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−$65as in the Price arb table

costs, in and out, $10k−$710.710% of the position

Long on SunX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.025%+$3 on $10k

Price spread, last 3 days (all we have)−0.027%−$3 · spread now −0.109%, 7d avg −0.164%

Together, before fees−0.002%+ Points / potential airdropNado: Active · farm board$0 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: Nado is 0.055% dearer against SunX than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.164%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX MU-USDT	1,050.1	0	get 0.0000% / 8h	6h 34m	$11K	$6.0M	10x
Short	Nado MU-PERP	1,049	−0.0006	pay 0.0001% / 1h	34m 51s	$274K	$858K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against SunX. 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 SunXbpFee NadobpOrdersPrice spread, now −0.109%Rate

Funding earned: −$1.25
Price spread: −0.109% → −0.164%: $5.51
Slippage, 4 orders: −$56
Fee SunX: 4 bp × 2 orders: −$8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$66.75
Costs to cover: 0.710%
Break-even: never at this rate

Slippage from SunX: live order book, 4 min ago; Nado: live order book, 34 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 SunX live order book, 4 min ago	21.58 bp	25.6 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 34 min ago	0.05 bp	5.0 bp −$5	17.9 bp −$179	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	−0.0949%	4h	1,048.4	−0.162%	$1.3M	$671K	10x	as long as short
Nado MU-PERPshort	−0.0006%	1h	1,049	−0.109%	$274K	$858K	10x
Bybit MUUSDT	0.0000%	8h	1,049.6	−0.048%	$19.2M	$32.6M	100x	as long as short
Gate MU_USDT	0.0000%	8h	1,049.1	−0.102%	$62.1M	$27.6M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,048.8	−0.132%	$190K	$3.4M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,049.1	−0.099%	$26K	$395K	10x	as long as short
SunX MU-USDTlong	0.0000%	8h	1,050.1	long leg	$11K	$6.0M	10x
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,048.6	−0.145%	$66K	$329K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,048.9	−0.120%	$129K	$430K	50x	as long as short
Aftermath Perps MUUSD	+0.0020%	1h	1,048.8	−0.127%	$3K	$45K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MU	+0.0032%	1h	1,048.9	−0.120%	$1.1M	$4.8M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,048.9	−0.122%	$1.1M	$4.2M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,049	−0.107%	$567K	$1.2M	10x	as long as short
QFEX MU-USD	+0.0040%	1h	1,049	−0.113%	$7.5M	$20.0M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,048.8	−0.126%	$71K	$237K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,050	−0.012%	—	$176K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,049	−0.109%	$178.1M	$99.9M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,048.8	−0.128%	$170K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,048.9	−0.120%	$688K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,048.4	−0.166%	$1.9M	$2.4M	10x	as long as short
Paradex MU-USD-PERP	+0.0067%	8h	1,049.3	−0.080%	$2K	—	5x	as long as short
OKX MU-USDT-SWAP	+0.0069%	8h	1,049	−0.108%	$30.8M	$100.7M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,048.9	−0.119%	$148K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,049.1	−0.101%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,048.9	−0.121%	$71K	$267K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,048.9	−0.115%	$834	$799	20x	as long as short
Injective MU/USDC PERP	+0.0107%	1h	1,051.4	+0.116%	$19K	$5K	12x	as long as short
Coinbase International MU-PERP-INTX	+0.0128%	1h	1,048.1	−0.196%	$759K	$1.2M	10x	as long as short
Aevo MU-PERP	+0.0136%	1h	1,048.7	−0.140%	$32K	$1K	10x	as long as short
GRVT MU_USDT_Perp	+0.0158%	8h	1,049	−0.112%	$81K	$1.3M	10x	as long as short
Aster MUUSD1	+0.0200%	8h	1,049.3	−0.081%	$21.6M	$50.1M	20x	as long as short
Variational Omni MU	+0.0204%	8h	1,049.1	−0.100%	$2.7M	$2.4M	—	as long as short
Binance MUUSDT	+0.0218%	8h	1,049.3	−0.076%	$126.9M	$525.0M	50x	as long as short
Bitget MUUSDT	+0.0274%	8h	1,049.4	−0.067%	$20.3M	$41.9M	50x	as long as short
Phoenix MU	+0.0304%	1h	1,049.2	−0.090%	$537K	$273K	15x	as long as short
BloFin MU-USDT	+0.0368%	8h	1,049.8	−0.031%	$1.5M	$2.0M	20x	as long as short
RISEx MU/USDC	+0.0507%	1h	1,049.2	−0.093%	$333K	$348K	20x	as long as short