Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0217%/8h= −23.8% APRpaid last 24h +0.025%

Price spread now: Nado against Aster−0.021%7-day average −0.020% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$410.405% of the position

Long on Aster Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.004%$0 on $10k

Price spread, last 7 days+0.106%+$11 · spread now −0.021%, 7d avg −0.020%

Together, before fees+0.102%+ Points / potential airdropAster: Stage 5 · Nado: Active · farm board+$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.020%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.004% in total (about -0.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MUUSD1	1,049.1	0.0210	pay 0.0210% / 8h	6h 38m	$21.6M	$50.1M	20x
Short	Nado MU-PERP	1,048.9	−0.0007	pay 0.0001% / 1h	38m 31s	$274K	$858K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Aster. 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 AsterbpFee NadobpOrdersPrice spread, now −0.021%Rate

Funding earned: −$45.64
Price spread: −0.021% → −0.020%: −$0.17
Slippage, 4 orders: −$25.53
Fee Aster: 4 bp × 2 orders: −$8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$86.35
Costs to cover: 0.405%
Break-even: never at this rate

Slippage from Aster: live order book, 6 min ago; Nado: live order book, 30 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 Aster live order book, 6 min ago	2.19 bp	9.3 bp −$9	13.1 bp −$131	doesn't fit	doesn't fit
Sell Nado live order book, 30 min ago	0.05 bp	5.0 bp −$5	17.9 bp −$179	doesn't fit	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	−0.0658%	4h	1,049.1	−0.004%	$1.3M	$670K	10x	as long as short
Nado MU-PERPshort	−0.0007%	1h	1,048.9	−0.021%	$274K	$858K	10x
Gate MU_USDT	0.0000%	8h	1,048.8	−0.032%	$62.1M	$27.6M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,048.4	−0.067%	$190K	$3.4M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,048.9	−0.021%	$26K	$395K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,049.4	+0.028%	$11K	$6.0M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,048.6	−0.049%	$65K	$327K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,048.5	−0.064%	$129K	$429K	50x	as long as short
Bybit MUUSDT	+0.0007%	8h	1,049.2	+0.003%	$19.2M	$32.6M	100x	as long as short
Aftermath Perps MUUSD	+0.0021%	1h	1,048.7	−0.042%	$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	−0.027%	$1.1M	$4.8M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,049.1	−0.007%	$1.1M	$4.1M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,048.5	−0.057%	$566K	$1.1M	10x	as long as short
QFEX MU-USD	+0.0040%	1h	1,048.9	−0.026%	$7.5M	$20.1M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,048.7	−0.040%	$71K	$242K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,049.9	+0.073%	—	$176K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,048.7	−0.042%	$170K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,048.6	−0.048%	$688K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,047.9	−0.122%	$1.9M	$2.4M	10x	as long as short
tradeXYZ xyz:MU	+0.0054%	1h	1,048.8	−0.033%	$178.0M	$99.9M	10x	as long as short
Paradex MU-USD-PERP	+0.0069%	8h	1,049	−0.016%	$2K	—	5x	as long as short
OKX MU-USDT-SWAP	+0.0074%	8h	1,048.9	−0.022%	$30.8M	$100.6M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,048.9	−0.024%	$148K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,048.9	−0.025%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,048.5	−0.064%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,048.9	−0.022%	$834	$799	20x	as long as short
Injective MU/USDC PERP	+0.0107%	1h	1,051.4	+0.211%	$19K	$5K	12x	as long as short
Coinbase International MU-PERP-INTX	+0.0128%	1h	1,048.1	−0.102%	$759K	$1.2M	10x	as long as short
Aevo MU-PERP	+0.0136%	1h	1,048.5	−0.061%	$32K	$1K	10x	as long as short
GRVT MU_USDT_Perp	+0.0186%	8h	1,049.4	+0.028%	$81K	$1.3M	10x	as long as short
Aster MUUSD1long	+0.0210%	8h	1,049.1	long leg	$21.6M	$50.1M	20x
Variational Omni MU	+0.0219%	8h	1,049	−0.010%	$2.7M	$2.4M	—	as long as short
Binance MUUSDT	+0.0224%	8h	1,049	−0.017%	$126.8M	$524.6M	50x	as long as short
Bitget MUUSDT	+0.0291%	8h	1,049	−0.013%	$20.3M	$41.9M	50x	as long as short
Phoenix MU	+0.0304%	1h	1,049.3	+0.015%	$537K	$273K	15x	as long as short
BloFin MU-USDT	+0.0368%	8h	1,049.8	+0.063%	$1.5M	$2.0M	20x	as long as short
RISEx MU/USDC	+0.0507%	1h	1,049.2	+0.003%	$333K	$348K	20x	as long as short