Funding arb · Price arb /

MU

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0131%/8hpaid last 24h +0.016%

Price spread now: Nado against Variational Omni−0.052%7-day average −0.017% · you buy dearer than you sell

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

Long on Variational Omni Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.031%−$3 on $10k

Price spread, last 7 days−0.027%−$3 · spread now −0.052%, 7d avg −0.017%

Together, before fees−0.058%+ Points / potential airdropVariational Omni: Active · Nado: Active · farm board−$6 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.035% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.052% now, against its 7-day average of −0.017%). If the spread goes back, that is −$3 on $10k: about 21 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MU	1,046.4	0	get 0.0000% / 8h	4h 22m	$2.7M	$2.7M	—
Short	Nado MU-PERP	1,045.8	0.0131	get 0.0016% / 1h	22m 00s	$335K	$797K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee NadobpOrdersPrice spread, now −0.052%Rate

Funding earned: $27.59
Price spread: −0.052% → −0.017%: −$3.5
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $17.09
Costs to cover: 0.070%
Break-even: 2.7 days

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Nado: live order book, 10 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 Variational Omni RFQ quote, 2 min ago	1.91 bp	doesn't fit	5.8 bp −$58	doesn't fit	doesn't fit
Sell Nado live order book, 10 min ago	0.05 bp	8.0 bp −$8	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	−0.0425%	4h	1,046.9	+0.050%	$1.3M	$673K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,047.4	+0.100%	$21.5M	$26.6M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,047.6	+0.116%	$125.7M	$519.8M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,047.5	+0.108%	$19.0M	$31.1M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,047.4	+0.100%	$30.9M	$101.4M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,046.8	+0.039%	$288K	$331K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,047	+0.056%	$63.7M	$28.0M	75x	as long as short
Variational Omni MUlong	0.0000%	8h	1,046.4	long leg	$2.7M	$2.7M	—
GRVT MU_USDT_Perp	0.0000%	8h	1,046.8	+0.039%	$83K	$1.2M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,046.4	+0.008%	$189K	$3.0M	20x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX MU-USDT	0.0000%	8h	1,048.6	+0.212%	$11K	$6.7M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,046.8	+0.039%	$125K	$443K	50x	as long as short
Bitget MUUSDT	+0.0023%	8h	1,047.2	+0.082%	$20.1M	$41.0M	50x	as long as short
Lighter RH MU	+0.0032%	1h	1,047	+0.065%	$1.1M	$4.3M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.416%	$14K	$302	12x	as long as short
Arcus MU-USD	+0.0041%	1h	1,046.3	−0.010%	$63K	$235K	10x	as long as short
QFEX MU-USD	+0.0045%	1h	1,046.6	+0.023%	$7.9M	$23.5M	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,047.2	+0.076%	—	$190K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,046.8	+0.042%	$166K	$177K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,046.9	+0.048%	$687K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,045.7	−0.068%	$1.9M	$2.6M	10x	as long as short
Paradex MU-USD-PERP	+0.0057%	8h	1,046.6	+0.025%	$2K	—	5x	as long as short
Lighter MU	+0.0072%	1h	1,047.2	+0.083%	$973K	$4.7M	20x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,047	+0.059%	$34K	—	10x	as long as short
Bullet MU-USD	+0.0084%	1h	1,047.2	+0.084%	$25K	$397K	10x	as long as short
Extended MU_24_5-USD	+0.0088%	1h	1,046.7	+0.036%	$526K	$1.0M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,046.6	+0.021%	$153K	$179K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,046.7	+0.035%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,046.8	+0.037%	$71K	$267K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,047.2	+0.084%	$833	$799	20x	as long as short
tradeXYZ xyz:MU	+0.0114%	1h	1,047	+0.061%	$178.9M	$98.5M	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0120%	1h	1,046.3	−0.006%	$769K	$1.7M	10x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,046.5	+0.013%	$1.5M	$2.0M	20x	as long as short
Nado MU-PERPshort	+0.0131%	1h	1,045.8	−0.052%	$335K	$797K	10x
Aftermath Perps MUUSD	+0.0168%	1h	1,046.7	+0.029%	$3K	$44K	10x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0304%	1h	1,047	+0.065%	$55K	$150K	10x	as long as short
Phoenix MU	+0.0305%	1h	1,045.6	−0.073%	$529K	$219K	15x	as long as short