Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0185%/8h= −20.2% APRpaid last 24h +0.010%

Price spread now: Pacifica against Bybit+0.008%58s7-day average −0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as 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−$340.337% of the position

Long on Bybit Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.051%+$5 on $10k

Price spread, last 4 days (all we have)−0.051%−$5 · spread now +0.008%, 7d avg −0.033%

Together, before fees−0.001%+ Points / potential airdropPacifica: Active · farm board$0 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Pacifica is 0.041% dearer against Bybit than usual: you sell high and buy low (spread +0.008% now, against its 7-day average of −0.033%): +$4 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 18 hours. Mind the row above: over the last 7 days funding on this pair paid +0.051%, so the current rate has only just turned against you. The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.051% in total (about 2.6% 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	Bybit MUUSDT	1,046.2	0.0285	pay 0.0285% / 8h	44m 47s	$19.2M	$32.6M	100x
Short	Pacifica MU	1,046.3	0.0100	get 0.0013% / 1h	44m 47s	$153K	$182K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.008%Rate

Funding earned: −$38.83
Price spread: +0.008% → −0.033%: $4.06
Slippage, 4 orders: −$14.66
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$68.43
Costs to cover: 0.337%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Pacifica: live order book, 33 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, 4 min ago	0.05 bp	6.4 bp −$6	11.0 bp −$110	27.3 bp −$2,734	doesn't fit
Sell Pacifica live order book, 33 min ago	3.55 bp	9.5 bp −$10	doesn't fit	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	−0.0477%	4h	1,045.5	−0.072%	$1.3M	$673K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,045.8	−0.040%	$63.0M	$29.0M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,045.1	−0.107%	$189K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,048.4	+0.207%	$11K	$6.6M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,045.8	−0.036%	$124K	$446K	50x	as long as short
Lighter RH MU	+0.0032%	1h	1,045.8	−0.037%	$1.2M	$4.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.429%	$14K	$302	12x	as long as short
Aftermath Perps MUUSD	+0.0035%	1h	1,045.2	−0.102%	$3K	$45K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,046.2	−0.004%	—	$194K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,045.9	−0.031%	$166K	$197K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MU-USD.P	+0.0050%	1h	1,045.3	−0.088%	$2.0M	$2.7M	10x	as long as short
QFEX MU-USD	+0.0080%	1h	1,046.2	−0.002%	$7.9M	$23.9M	10x	as long as short
OKX MU-USDT-SWAP	+0.0080%	8h	1,045.9	−0.033%	$30.8M	$105.2M	50x	as long as short
Pacifica MUshort	+0.0100%	1h	1,046.3	+0.008%	$153K	$182K	10x
KuCoin MUUSDTM	+0.0100%	8h	1,045.3	−0.086%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,045.6	−0.059%	$71K	$266K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,045.8	−0.042%	$831	$799	20x	as long as short
SoDEX MU-USD	+0.0124%	1h	1,045.9	−0.035%	$686K	$16K	10x	as long as short
Bitget MUUSDT	+0.0136%	8h	1,045.9	−0.032%	$20.5M	$43.6M	50x	as long as short
Aevo MU-PERP	+0.0136%	1h	1,045.9	−0.029%	$33K	—	10x	as long as short
Paradex MU-USD-PERP	+0.0156%	8h	1,046.2	−0.002%	$2K	—	5x	as long as short
Aster MUUSD1	+0.0170%	8h	1,046.5	+0.028%	$21.6M	$47.3M	20x	as long as short
Lighter MU	+0.0184%	1h	1,045.8	−0.044%	$1.0M	$4.8M	20x	as long as short
Variational Omni MU	+0.0200%	8h	1,046.3	+0.007%	$2.6M	$2.5M	—	as long as short
Binance MUUSDT	+0.0212%	8h	1,046.1	−0.011%	$124.9M	$533.2M	50x	as long as short
Coinbase International MU-PERP-INTX	+0.0224%	1h	1,045.5	−0.071%	$757K	$1.4M	10x	as long as short
Bullet MU-USD	+0.0247%	1h	1,046.2	−0.002%	$24K	$396K	10x	as long as short
GRVT MU_USDT_Perp	+0.0253%	8h	1,045.7	−0.046%	$77K	$1.4M	10x	as long as short
Nado MU-PERP	+0.0256%	1h	1,045.4	−0.077%	$270K	$876K	10x	as long as short
Bybit MUUSDTlong	+0.0285%	8h	1,046.2	long leg	$19.2M	$32.6M	100x
tradeXYZ xyz:MU	+0.0301%	1h	1,045.8	−0.040%	$176.7M	$105.6M	10x	as long as short
BloFin MU-USDT	+0.0332%	8h	1,046	−0.018%	$1.4M	$2.0M	20x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0353%	1h	1,046	−0.025%	$62K	$259K	10x	as long as short
Phoenix MU	+0.0460%	1h	1,046.6	+0.036%	$535K	$306K	15x	as long as short
Arcus MU-USD	+0.0462%	1h	1,045.8	−0.038%	$74K	$240K	10x	as long as short
RISEx MU/USDC	+0.0525%	1h	1,046.6	+0.036%	$317K	$339K	20x	as long as short
Extended MU_24_5-USD	+0.0712%	1h	1,045.1	−0.111%	$540K	$1.1M	10x	as long as short