Funding arb · Price arb /

MU

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0036%/8h= −3.9% APRpaid last 24h 0.000%

Price spread now: Orderly against Aevo+0.033%7-day average — · you sell dearer than you buy

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

Long on Aevo Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Orderly is 0.033% dearer against Aevo than usual: you sell high and buy low (spread +0.033% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo MU-PERP	1,048.6	0.0136	pay 0.0017% / 1h	38m 05s	$32K	$1K	10x
Short	Orderly PERP_MU_USDC_mythos	1,049	0.0100	get 0.0100% / 8h	6h 38m	$834	$799	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Aevo. 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 AevobpFee OrderlybpOrdersPrice spread, now +0.033%Rate

Funding earned: −$7.56
Price spread: +0.033% → 0.000%: $3.31
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$26.25
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Orderly: no order-book sample. 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 Aevo no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Aevo and Orderly: 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 MUUSDC	−0.0658%	4h	1,049.1	+0.045%	$1.3M	$670K	10x	as long as short
Nado MU-PERP	−0.0007%	1h	1,048.9	+0.028%	$274K	$858K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,048.9	+0.023%	$62.1M	$27.6M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,048.4	−0.017%	$190K	$3.4M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,048.9	+0.028%	$26K	$395K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,049.9	+0.123%	$11K	$6.0M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,048.6	−0.001%	$65K	$327K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,048.6	0.000%	$129K	$429K	50x	as long as short
Bybit MUUSDT	+0.0007%	8h	1,049.3	+0.065%	$19.2M	$32.7M	100x	as long as short
Aftermath Perps MUUSD	+0.0021%	1h	1,048.7	+0.008%	$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	+0.026%	$1.1M	$4.8M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,049	+0.036%	$1.1M	$4.1M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,048.5	−0.008%	$559K	$1.2M	10x	as long as short
QFEX MU-USD	+0.0040%	1h	1,048.9	+0.024%	$7.5M	$20.1M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,048.7	+0.010%	$71K	$242K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,049.9	+0.123%	—	$176K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,048.7	+0.007%	$170K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,048.8	+0.021%	$688K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,047.9	−0.072%	$1.9M	$2.4M	10x	as long as short
tradeXYZ xyz:MU	+0.0053%	1h	1,048.9	+0.026%	$178.1M	$99.9M	10x	as long as short
Paradex MU-USD-PERP	+0.0069%	8h	1,049	+0.034%	$2K	—	5x	as long as short
OKX MU-USDT-SWAP	+0.0073%	8h	1,049.2	+0.058%	$30.8M	$100.7M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,048.9	+0.025%	$148K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,048.9	+0.027%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,048.5	−0.015%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythosshort	+0.0100%	8h	1,049	+0.033%	$834	$799	20x
Injective MU/USDC PERP	+0.0107%	1h	1,051.4	+0.261%	$19K	$5K	12x	as long as short
Coinbase International MU-PERP-INTX	+0.0128%	1h	1,048.1	−0.052%	$759K	$1.2M	10x	as long as short
Aevo MU-PERPlong	+0.0136%	1h	1,048.6	long leg	$32K	$1K	10x
GRVT MU_USDT_Perp	+0.0186%	8h	1,049.4	+0.078%	$81K	$1.3M	10x	as long as short
Aster MUUSD1	+0.0210%	8h	1,049.1	+0.044%	$21.6M	$50.1M	20x	as long as short
Variational Omni MU	+0.0219%	8h	1,049	+0.040%	$2.7M	$2.4M	—	as long as short
Binance MUUSDT	+0.0224%	8h	1,049.1	+0.042%	$126.8M	$524.6M	50x	as long as short
Bitget MUUSDT	+0.0291%	8h	1,049	+0.037%	$20.3M	$41.9M	50x	as long as short
Phoenix MU	+0.0304%	1h	1,049.3	+0.065%	$537K	$273K	15x	as long as short
BloFin MU-USDT	+0.0368%	8h	1,049.8	+0.113%	$1.5M	$2.0M	20x	as long as short
RISEx MU/USDC	+0.0507%	1h	1,049.2	+0.053%	$333K	$348K	20x	as long as short