Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0227%/8h= −24.8% APRpaid last 24h +0.004%

Price spread now: Bybit against Arcus+0.101%56s7-day average +0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$310.311% of the position

Long on Arcus Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.098%−$10 on $10k

Price spread, last 4 days (all we have)−0.065%−$6 · spread now +0.101%, 7d avg +0.042%

Together, before fees−0.163%−$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.059% dearer against Arcus than usual: you sell high and buy low (spread +0.101% now, against its 7-day average of +0.042%): +$6 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 21 hours. At the pace of the last 3 days (−0.098% in total) that is about 2.0 days. The two prices were read 56 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	Arcus MU-USD	1,042.9	0.0435	pay 0.0054% / 1h	45m 46s	$63K	$230K	10x
Short	Bybit MUUSDT	1,044	0.0208	get 0.0208% / 8h	1h 45m	$19.1M	$32.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Arcus. 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 ArcusbpFee BybitbpOrdersPrice spread, now +0.101%Rate

Funding earned: −$47.62
Price spread: +0.101% → +0.042%: $5.88
Slippage, 4 orders: −$15.58
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$72.82
Costs to cover: 0.311%
Break-even: never at this rate

Slippage from Arcus: live order book, 37 min ago; Bybit: live order book, 3 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 Arcus live order book, 37 min ago	3.02 bp	5.9 bp −$6	7.9 bp −$79	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.05 bp	7.3 bp −$7	13.3 bp −$133	26.1 bp −$2,614	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	−0.0180%	4h	1,043.7	+0.072%	$1.3M	$673K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,043.5	+0.061%	$62.8M	$28.9M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,042.7	−0.018%	$188K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,045.4	+0.243%	$11K	$6.6M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,043.1	+0.019%	$125K	$441K	50x	as long as short
OKX MU-USDT-SWAP	+0.0004%	8h	1,043.6	+0.064%	$30.7M	$104.5M	50x	as long as short
Aftermath Perps MUUSD	+0.0030%	1h	1,043.2	+0.031%	$3K	$44K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,043.3	+0.042%	$1.1M	$4.2M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.749%	$14K	$302	12x	as long as short
Aster MUUSD1	+0.0036%	8h	1,044.2	+0.120%	$21.5M	$47.2M	20x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MU-USD-PERP	+0.0046%	1h	1,042.9	−0.005%	—	$193K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,043	+0.010%	$165K	$180K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,043.5	+0.054%	$685K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,042.7	−0.024%	$2.0M	$2.7M	10x	as long as short
QFEX MU-USD	+0.0071%	1h	1,043.2	+0.028%	$7.8M	$24.2M	10x	as long as short
Bitget MUUSDT	+0.0081%	8h	1,043.6	+0.067%	$20.4M	$43.0M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,043.1	+0.022%	$154K	$182K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,042.9	−0.002%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,043.5	+0.055%	$71K	$266K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,043.5	+0.061%	$830	$799	20x	as long as short
Variational Omni MU	+0.0105%	8h	1,043.7	+0.077%	$2.6M	$2.7M	—	as long as short
Aevo MU-PERP	+0.0112%	1h	1,043.3	+0.035%	$33K	—	10x	as long as short
Paradex MU-USD-PERP	+0.0118%	8h	1,043.4	+0.051%	$2K	—	5x	as long as short
Binance MUUSDT	+0.0130%	8h	1,043.8	+0.083%	$124.9M	$537.3M	50x	as long as short
Coinbase International MU-PERP-INTX	+0.0184%	1h	1,043.8	+0.088%	$756K	$1.4M	10x	as long as short
Lighter MU	+0.0192%	1h	1,043.5	+0.054%	$1.0M	$4.8M	20x	as long as short
GRVT MU_USDT_Perp	+0.0192%	8h	1,043.7	+0.081%	$82K	$1.4M	10x	as long as short
Nado MU-PERP	+0.0192%	1h	1,042.5	−0.034%	$303K	$849K	10x	as long as short
Bybit MUUSDTshort	+0.0208%	8h	1,044	+0.101%	$19.1M	$32.5M	100x
BloFin MU-USDT	+0.0249%	8h	1,043.4	+0.043%	$1.5M	$2.1M	20x	as long as short
Bullet MU-USD	+0.0253%	1h	1,043.5	+0.057%	$26K	$399K	10x	as long as short
tradeXYZ xyz:MU	+0.0356%	1h	1,043.6	+0.067%	$176.3M	$107.1M	10x	as long as short
Phoenix MU	+0.0383%	1h	1,044	+0.105%	$534K	$306K	15x	as long as short
Arcus MU-USDlong	+0.0435%	1h	1,042.9	long leg	$63K	$230K	10x
Deribit MU_USDC-PERPETUAL	+0.0441%	1h	1,043.2	+0.033%	$60K	$241K	10x	as long as short
RISEx MU/USDC	+0.0499%	1h	1,043.8	+0.085%	$285K	$333K	20x	as long as short
Extended MU_24_5-USD	+0.0600%	1h	1,042.5	−0.034%	$541K	$1.1M	10x	as long as short