Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: SunX against ApeX Omni+0.146%73s7-day average +0.145% · you sell dearer than you buy

Net, funding: paid 7d − costs−$110as 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−$910.913% of the position

Long on ApeX Omni Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.185%−$19 on $10k

Price spread, last 3 days (all we have)−0.074%−$7 · spread now +0.146%, 7d avg +0.145%

Together, before fees−0.259%−$26 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.145%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. The two prices were read 73 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	1,049.9	0.0100	pay 0.0013% / 1h	13m 54s	$71K	$268K	50x
Short	SunX MU-USDT	1,051.4	0	get 0.0000% / 8h	6h 13m	$11K	$6.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.146%Rate

Funding earned: −$21
Price spread: +0.146% → +0.145%: $0.09
Slippage, 4 orders: −$73.28
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$112.19
Costs to cover: 0.913%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 53 min ago; SunX: 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, 53 min ago	5.61 bp	15.9 bp −$16	168.4 bp −$1,684	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	21.56 bp	32.9 bp −$33	doesn't fit	doesn't fit	doesn't fit

MU on 36 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	−0.0876%	4h	1,049.5	−0.035%	$1.3M	$672K	10x	as long as short
Nado MU-PERP	−0.0004%	1h	1,049.7	−0.015%	$277K	$854K	10x	as long as short
Bybit MUUSDT	0.0000%	8h	1,050.1	+0.025%	$19.2M	$32.6M	100x	as long as short
Gate MU_USDT	0.0000%	8h	1,049.9	+0.002%	$62.1M	$27.7M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,049.6	−0.025%	$190K	$3.4M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,050.2	+0.029%	$25K	$394K	10x	as long as short
SunX MU-USDTshort	0.0000%	8h	1,051.4	+0.146%	$11K	$6.0M	10x
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,049.8	−0.010%	$66K	$342K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,049.7	−0.011%	$129K	$425K	50x	as long as short
Aftermath Perps MUUSD	+0.0017%	1h	1,049.7	−0.019%	$3K	$45K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MU	+0.0032%	1h	1,049.8	−0.002%	$1.1M	$4.8M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,049.8	−0.007%	$1.1M	$4.2M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,049.3	−0.056%	$567K	$1.1M	10x	as long as short
QFEX MU-USD	+0.0040%	1h	1,049.8	−0.005%	$7.4M	$19.3M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,049.7	−0.015%	$71K	$236K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,050.8	+0.089%	—	$175K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,049.8	−0.006%	$178.2M	$99.6M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,049.8	−0.006%	$170K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,050	+0.009%	$689K	$16K	10x	as long as short
OKX MU-USDT-SWAP	+0.0050%	8h	1,050	+0.014%	$30.8M	$100.5M	50x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,049.3	−0.051%	$1.9M	$2.3M	10x	as long as short
GRVT MU_USDT_Perp	+0.0056%	8h	1,049.8	−0.004%	$81K	$1.3M	10x	as long as short
Paradex MU-USD-PERP	+0.0061%	8h	1,050.1	+0.026%	$2K	—	5x	as long as short
Pacifica MU	+0.0100%	1h	1,049.9	−0.001%	$149K	$187K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,049.8	−0.010%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDTlong	+0.0100%	1h	1,049.9	long leg	$71K	$268K	50x
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050.1	+0.023%	$835	$799	20x	as long as short
Injective MU/USDC PERP	+0.0107%	1h	1,051.4	+0.143%	$19K	$5K	12x	as long as short
Aevo MU-PERP	+0.0128%	1h	1,049.7	−0.015%	$32K	$1K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0128%	1h	1,050.3	+0.040%	$757K	$1.2M	10x	as long as short
Aster MUUSD1	+0.0148%	8h	1,050	+0.011%	$21.6M	$51.7M	20x	as long as short
Variational Omni MU	+0.0171%	8h	1,049.8	−0.006%	$2.7M	$2.4M	—	as long as short
Binance MUUSDT	+0.0188%	8h	1,050	+0.016%	$126.4M	$523.1M	50x	as long as short
Bitget MUUSDT	+0.0224%	8h	1,050.1	+0.023%	$20.6M	$41.9M	50x	as long as short
Phoenix MU	+0.0304%	1h	1,050.2	+0.032%	$537K	$273K	15x	as long as short
RISEx MU/USDC	+0.0507%	1h	1,050.2	+0.036%	$334K	$349K	20x	as long as short