Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.004%

Price spread now: Bybit against ApeX Omni+0.095%7-day average +0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$570.569% of the position

Long on ApeX Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.065%−$7 on $10k

Price spread, last 4 days (all we have)−0.091%−$9 · spread now +0.095%, 7d avg +0.001%

Together, before fees−0.156%−$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.094% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.095% now, against its 7-day average of +0.001%): +$9 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.1 days. At the pace of the last 7 days (−0.065% in total) that is about 10 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni MUUSDT	1,043.9	0.0100	pay 0.0013% / 1h	17m 22s	$71K	$269K	50x
Short	Bybit MUUSDT	1,044.8	0	get 0.0000% / 8h	3h 17m	$18.7M	$31.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.095%Rate

Funding earned: −$21
Price spread: +0.095% → +0.001%: $9.36
Slippage, 4 orders: −$35.93
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$68.57
Costs to cover: 0.569%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 35 min ago; Bybit: live order book, 1 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, 35 min ago	8.58 bp	21.3 bp −$21	200.1 bp −$2,001	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	0.38 bp	7.4 bp −$7	10.1 bp −$101	26.5 bp −$2,649	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	−0.0350%	4h	1,044.9	+0.104%	$1.3M	$672K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,044.7	+0.084%	$21.2M	$56.6M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,044.7	+0.082%	$124.0M	$522.8M	50x	as long as short
Bybit MUUSDTshort	0.0000%	8h	1,044.8	+0.095%	$18.7M	$31.8M	100x
OKX MU-USDT-SWAP	0.0000%	8h	1,044.8	+0.090%	$30.9M	$99.6M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,044.4	+0.050%	$337K	$353K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,044.3	+0.044%	$61.9M	$27.9M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,044.7	+0.080%	$20.5M	$41.6M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,045.1	+0.115%	$2.7M	$2.4M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,044.9	+0.102%	$79K	$1.4M	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX MU-USD	0.0000%	1h	1,043.2	−0.065%	$189K	$3.4M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,045.7	+0.172%	$11K	$5.8M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,043.2	−0.062%	$73K	$480K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,043	−0.078%	$130K	$435K	50x	as long as short
Aftermath Perps MUUSD	+0.0023%	1h	1,044.2	+0.031%	$3K	$44K	10x	as long as short
QFEX MU-USD	+0.0032%	1h	1,044.2	+0.029%	$7.0M	$18.0M	10x	as long as short
Lighter MU	+0.0032%	1h	1,044.5	+0.058%	$1.1M	$5.1M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,044.5	+0.066%	$1.3M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,043.6	−0.023%	$548K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.719%	$19K	$5K	12x	as long as short
Nado MU-PERP	+0.0034%	1h	1,044.1	+0.019%	$282K	$828K	10x	as long as short
Bullet MU-USD	+0.0040%	1h	1,044.6	+0.074%	$26K	$392K	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,043.8	−0.004%	$70K	$232K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,044.6	+0.071%	—	$176K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,044.3	+0.043%	$176.7M	$95.3M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,044.2	+0.034%	$169K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,043.2	−0.067%	$685K	$16K	10x	as long as short
Paradex MU-USD-PERP	+0.0050%	8h	1,044.5	+0.060%	$2K	—	5x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,043.2	−0.059%	$1.9M	$2.2M	10x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,042.8	−0.100%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,044.4	+0.049%	$147K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,044.3	+0.039%	$5.2M	$3.4M	20x	as long as short
ApeX Omni MUUSDTlong	+0.0100%	1h	1,043.9	long leg	$71K	$269K	50x
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,044.4	+0.054%	$830	$799	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0120%	1h	1,044.8	+0.086%	$749K	$1.2M	10x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,044.2	+0.034%	$1.5M	$2.0M	20x	as long as short
Phoenix MU	+0.0305%	1h	1,044.2	+0.034%	$534K	$271K	15x	as long as short