Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0292%/8h= +32.0% APRpaid last 24h +0.035%

Price spread now: BloFin against ApeX Omni+0.002%103s7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$460.457% of the position

Long on ApeX Omni Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.218%+$22 on $10k

Price spread, last 3 days (all we have)−0.042%−$4 · spread now +0.002%, 7d avg +0.011%

Together, before fees+0.176%+$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.011%, so right now this pair is about funding alone: +$9 a day on $10k at the current rate. The two prices were read 103 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni MUUSDT	1,050.4	0.0100	pay 0.0013% / 1h	57m 31s	$71K	$268K	50x
Short	BloFin MU-USDT	1,050.4	0.0392	get 0.0392% / 8h	6h 57m	$1.5M	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against ApeX Omni. 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 ApeX OmnibpFee BloFinbpOrdersPrice spread, now +0.002%Rate

Funding earned: $61.28
Price spread: +0.002% → +0.011%: −$0.91
Slippage, 4 orders: −$23.74
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $14.63
Costs to cover: 0.457%
Break-even: 5.3 days

Slippage from ApeX Omni: live order book, 9 min ago; BloFin: live order book, 5 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 ApeX Omni live order book, 9 min ago	5.61 bp	15.9 bp −$16	168.4 bp −$1,684	doesn't fit	doesn't fit
Sell BloFin live order book, 5 min ago	0.33 bp	6.5 bp −$7	7.7 bp −$77	12.3 bp −$1,227	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	−0.0855%	4h	1,050.5	+0.007%	$1.3M	$670K	10x	as long as short
Nado MU-PERP	−0.0014%	1h	1,048.9	−0.142%	$271K	$859K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,049.1	−0.124%	$62.4M	$27.3M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,049.5	−0.083%	$190K	$3.3M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,049.6	−0.074%	$26K	$397K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,050.4	−0.001%	$11K	$6.1M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,049.1	−0.122%	$65K	$315K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,049.4	−0.091%	$129K	$424K	50x	as long as short
Aftermath Perps MUUSD	+0.0022%	1h	1,050.2	−0.015%	$3K	$45K	10x	as long as short
Lighter MU	+0.0032%	1h	1,049.2	−0.114%	$1.1M	$4.8M	20x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH MU	+0.0032%	1h	1,049.2	−0.113%	$1.2M	$4.1M	10x	as long as short
QFEX MU-USD	+0.0040%	1h	1,049.1	−0.124%	$7.6M	$20.9M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,050	−0.036%	$71K	$242K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,050.2	−0.014%	—	$179K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,048.9	−0.141%	$178.1M	$100.2M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,048.8	−0.150%	$170K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,049.4	−0.091%	$689K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,049.1	−0.125%	$1.9M	$2.4M	10x	as long as short
Paradex MU-USD-PERP	+0.0079%	8h	1,049	−0.131%	$2K	—	5x	as long as short
OKX MU-USDT-SWAP	+0.0098%	8h	1,049.1	−0.123%	$30.9M	$101.4M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,049.3	−0.105%	$148K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,049.3	−0.105%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDTlong	+0.0100%	1h	1,050.4	long leg	$71K	$268K	50x
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,049.6	−0.073%	$834	$799	20x	as long as short
Injective MU/USDC PERP	+0.0107%	1h	1,051.4	+0.093%	$19K	$5K	12x	as long as short
Bybit MUUSDT	+0.0117%	8h	1,049.4	−0.093%	$19.3M	$32.7M	100x	as long as short
Coinbase International MU-PERP-INTX	+0.0128%	1h	1,049.6	−0.076%	$761K	$1.2M	10x	as long as short
Aevo MU-PERP	+0.0152%	1h	1,049.1	−0.119%	$32K	$1K	10x	as long as short
Extended MU_24_5-USD	+0.0200%	1h	1,048.7	−0.156%	$563K	$1.2M	10x	as long as short
Variational Omni MU	+0.0260%	8h	1,050.4	−0.002%	$2.7M	$2.4M	—	as long as short
Aster MUUSD1	+0.0262%	8h	1,049.8	−0.058%	$21.6M	$49.0M	20x	as long as short
Binance MUUSDT	+0.0268%	8h	1,049.2	−0.109%	$125.9M	$522.8M	50x	as long as short
Phoenix MU	+0.0383%	1h	1,050.9	+0.050%	$538K	$273K	15x	as long as short
BloFin MU-USDTshort	+0.0392%	8h	1,050.4	+0.002%	$1.5M	$2.0M	20x
Bitget MUUSDT	+0.0395%	8h	1,049.2	−0.109%	$20.5M	$41.6M	50x	as long as short
RISEx MU/USDC	+0.0507%	1h	1,049.3	−0.107%	$315K	$340K	20x	as long as short
GRVT MU_USDT_Perp	+0.0514%	8h	1,050.4	+0.002%	$83K	$1.3M	10x	as long as short