Funding arb · Price arb /

MU

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0907%/8h= −99.3% APRpaid last 24h +0.032%

Price spread now: edgeX against Vest−0.139%63s7-day average −0.661% · you buy dearer than you sell

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

Long on Vest Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.248%+$25 on $10k

Price spread, last 4 days (all we have)+0.136%+$14 · spread now −0.139%, 7d avg −0.661%

Together, before fees+0.384%+ Points / potential airdropVest: Active · edgeX: Active · farm board+$38 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.522% dearer against Vest than usual: you sell high and buy low (spread −0.139% now, against its 7-day average of −0.661%): +$52 on $10k if it goes back. Holding the pair costs −$27 a day in funding at the current rate, which eats that in about 46 hours. Mind the row above: over the last 3 days funding on this pair paid +0.248%, so the current rate has only just turned against you. The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.248% in total (about 27.3% 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	Vest MU-USD-PERP	1,051.4	0.0046	pay 0.0006% / 1h	24m 09s	—	$175K	25x
Short	edgeX MUUSDC	1,049.9	−0.0861	pay 0.0431% / 4h	1h 24m	$1.3M	$671K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Vest. 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 VestbpFee edgeXbpOrdersPrice spread, now −0.139%Rate

Funding earned: −$190.42
Price spread: −0.139% → −0.661%: $52.19
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$149.23
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Vest: no order-book sample; edgeX: 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 Vest no order-book sample	—	—	—	—	—
Sell edgeX live order book, 5 min ago	0.33 bp	5.0 bp −$5	6.6 bp −$66	28.3 bp −$2,825	doesn't fit

Vest: 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 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	−0.0861%	4h	1,049.9	−0.139%	$1.3M	$671K	10x
Bybit MUUSDT	0.0000%	8h	1,050.8	−0.052%	$19.1M	$32.3M	100x	as long as short
RISEx MU/USDC	0.0000%	1h	1,050.7	−0.069%	$333K	$348K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,050.5	−0.088%	$62.1M	$27.5M	75x	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,050.2	−0.111%	$85K	$1.3M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,050	−0.133%	$190K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,052.4	+0.097%	$11K	$5.9M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,050.4	−0.095%	$67K	$377K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,050.4	−0.089%	$129K	$429K	50x	as long as short
Aftermath Perps MUUSD	+0.0020%	1h	1,050	−0.130%	$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
OKX MU-USDT-SWAP	+0.0021%	8h	1,050.7	−0.063%	$31.0M	$99.8M	50x	as long as short
QFEX MU-USD	+0.0030%	1h	1,050.2	−0.109%	$7.2M	$18.1M	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,050.5	−0.088%	$1.2M	$4.3M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	−0.002%	$19K	$5K	12x	as long as short
Extended MU_24_5-USD	+0.0040%	1h	1,050.1	−0.122%	$564K	$1.1M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,050	−0.128%	$71K	$235K	10x	as long as short
Vest MU-USD-PERPlong	+0.0046%	1h	1,051.4	long leg	—	$175K	25x
Lighter MU	+0.0048%	1h	1,050.7	−0.069%	$1.1M	$5.0M	20x	as long as short
Nado MU-PERP	+0.0050%	1h	1,050.2	−0.112%	$282K	$848K	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,050.2	−0.112%	$170K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,050.5	−0.087%	$689K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,049.3	−0.201%	$1.9M	$2.3M	10x	as long as short
Paradex MU-USD-PERP	+0.0055%	8h	1,050.4	−0.091%	$2K	—	5x	as long as short
tradeXYZ xyz:MU	+0.0057%	1h	1,050.4	−0.093%	$178.1M	$98.9M	10x	as long as short
Aster MUUSD1	+0.0060%	8h	1,050.5	−0.084%	$21.4M	$53.0M	20x	as long as short
Bullet MU-USD	+0.0065%	1h	1,050.7	−0.065%	$25K	$398K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0096%	1h	1,049.9	−0.137%	$756K	$1.2M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,050.4	−0.089%	$149K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,050.3	−0.104%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,049.7	−0.156%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050.4	−0.096%	$835	$799	20x	as long as short
Variational Omni MU	+0.0101%	8h	1,050.2	−0.115%	$2.7M	$2.4M	—	as long as short
Aevo MU-PERP	+0.0112%	1h	1,050.3	−0.099%	$32K	$1K	10x	as long as short
Bitget MUUSDT	+0.0116%	8h	1,050.7	−0.062%	$20.6M	$41.1M	50x	as long as short
Binance MUUSDT	+0.0127%	8h	1,050.6	−0.078%	$126.5M	$518.7M	50x	as long as short
Phoenix MU	+0.0229%	1h	1,050.4	−0.093%	$537K	$271K	15x	as long as short
BloFin MU-USDT	+0.0248%	8h	1,050.3	−0.102%	$1.5M	$2.0M	20x	as long as short