Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.012%

Price spread now: Arcus against Bybit−0.145%7-day average −0.041% · 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−$47as in the Price arb table

costs, in and out, $10k−$360.363% of the position

Long on Bybit Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.088%+$9 on $10k

Price spread, last 4 days (all we have)+0.109%+$11 · spread now −0.145%, 7d avg −0.041%

Together, before fees+0.197%+$20 on $10k · with fees, hour by hour

Funding pays, the price is against you. Arcus is 0.105% cheaper against Bybit than usual: you would sell low and buy high (spread −0.145% now, against its 7-day average of −0.041%). If the spread goes back, that is −$10 on $10k: about 8.6 days of funding at the current rate (+$1 a day). At the pace of the last 4 days (+0.088% in total) that is about 4.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MUUSDT	1,045.3	0	get 0.0000% / 8h	3h 17m	$18.7M	$31.8M	100x
Short	Arcus MU-USD	1,043.8	0.0040	get 0.0005% / 1h	17m 19s	$70K	$232K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Bybit. 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 BybitbpFee ArcusbpOrdersPrice spread, now −0.145%Rate

Funding earned: $8.46
Price spread: −0.145% → −0.041%: −$10.45
Slippage, 4 orders: −$20.84
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$38.33
Costs to cover: 0.363%
Break-even: 38.7 days

Slippage from Bybit: live order book, 1 min ago; Arcus: live order book, 36 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 Bybit live order book, 1 min ago	0.38 bp	9.0 bp −$9	11.4 bp −$114	41.2 bp −$4,119	doesn't fit
Sell Arcus live order book, 36 min ago	2.38 bp	10.3 bp −$10	13.6 bp −$136	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	−0.0350%	4h	1,044.9	−0.037%	$1.3M	$672K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,045	−0.033%	$21.2M	$56.6M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,045	−0.029%	$124.1M	$522.9M	50x	as long as short
Bybit MUUSDTlong	0.0000%	8h	1,045.3	long leg	$18.7M	$31.8M	100x
OKX MU-USDT-SWAP	0.0000%	8h	1,045.2	−0.012%	$30.9M	$99.7M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,044.4	−0.092%	$337K	$353K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,044.3	−0.098%	$61.9M	$27.9M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,044.9	−0.042%	$20.5M	$41.6M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,045.1	−0.027%	$2.7M	$2.4M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,044.9	−0.040%	$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	−0.207%	$189K	$3.4M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,046.8	+0.143%	$11K	$5.8M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,044.4	−0.094%	$73K	$481K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,044.7	−0.064%	$130K	$435K	50x	as long as short
Aftermath Perps MUUSD	+0.0023%	1h	1,044.2	−0.111%	$3K	$44K	10x	as long as short
QFEX MU-USD	+0.0032%	1h	1,044.2	−0.113%	$7.0M	$18.0M	10x	as long as short
Lighter MU	+0.0032%	1h	1,044.7	−0.062%	$1.1M	$5.1M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,044.6	−0.071%	$1.3M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,044.2	−0.106%	$548K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.577%	$19K	$5K	12x	as long as short
Nado MU-PERP	+0.0034%	1h	1,044.1	−0.122%	$282K	$828K	10x	as long as short
Bullet MU-USD	+0.0040%	1h	1,044.6	−0.068%	$26K	$392K	10x	as long as short
Arcus MU-USDshort	+0.0040%	1h	1,043.8	−0.145%	$70K	$232K	10x
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	−0.099%	$176.7M	$95.3M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,044.2	−0.108%	$169K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,044.1	−0.122%	$685K	$16K	10x	as long as short
Paradex MU-USD-PERP	+0.0050%	8h	1,044.5	−0.081%	$2K	—	5x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,043.2	−0.201%	$1.9M	$2.2M	10x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,044.4	−0.089%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,044.4	−0.093%	$147K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,044.7	−0.063%	$5.2M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,043.9	−0.142%	$71K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,044.4	−0.088%	$830	$799	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0120%	1h	1,044.8	−0.055%	$749K	$1.2M	10x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,045.3	−0.005%	$1.5M	$2.0M	20x	as long as short
Phoenix MU	+0.0305%	1h	1,044.2	−0.108%	$534K	$271K	15x	as long as short