Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0304%/8h= −33.3% APRpaid last 24h −0.040%

Price spread now: OKX against Extended+0.059%7-day average +0.056% · you sell dearer than you buy

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$190.194% of the position

Long on Extended Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.064%−$6 on $10k

Price spread, last 7 days−0.014%−$1 · spread now +0.059%, 7d avg +0.056%

Together, before fees−0.078%+ Points / potential airdropExtended: Active · farm board−$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.056%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.064% in total (about -3.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended MU_24_5-USD	1,039.8	0.0304	pay 0.0038% / 1h	58m 35s	$552K	$1.1M	10x
Short	OKX MU-USDT-SWAP	1,040.4	0	get 0.0000% / 8h	4h 58m	$29.9M	$107.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Extended. 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 ExtendedbpFee OKXbpOrdersPrice spread, now +0.059%Rate

Funding earned: −$63.84
Price spread: +0.059% → +0.056%: $0.39
Slippage, 4 orders: −$4.36
Fee Extended: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$82.81
Costs to cover: 0.194%
Break-even: never at this rate

Slippage from Extended: live order book, 3 min ago; OKX: 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 Extended live order book, 3 min ago	0.05 bp	3.6 bp −$4	10.3 bp −$103	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.05 bp	5.1 bp −$5	6.1 bp −$61	18.3 bp −$1,832	doesn't fit

MU on 37 exchanges

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	−0.0231%	4h	1,040.1	+0.035%	$1.3M	$696K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,041.1	+0.128%	$21.3M	$73.6M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,040.5	+0.072%	$122.2M	$554.5M	50x	as long as short
OKX MU-USDT-SWAPshort	0.0000%	8h	1,040.4	+0.059%	$29.9M	$107.0M	50x
Gate MU_USDT	0.0000%	8h	1,040.3	+0.052%	$61.4M	$27.3M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,040.5	+0.071%	$19.8M	$43.6M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,040.1	+0.034%	$2.6M	$2.5M	—	as long as short
StandX MU-USD	0.0000%	1h	1,039.7	−0.005%	$188K	$3.7M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,042.1	+0.225%	$11K	$5.0M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,041.3	+0.151%	$120K	$473K	50x	as long as short

Show all 37 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH MU	+0.0032%	1h	1,040.1	+0.033%	$1.1M	$4.4M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.115%	$19K	$5K	12x	as long as short
Aftermath Perps MUUSD	+0.0037%	1h	1,040	+0.025%	$3K	$41K	10x	as long as short
RISEx MU/USDC	+0.0045%	1h	1,040.5	+0.065%	$299K	$334K	20x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,041.7	+0.181%	—	$177K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,040.5	+0.070%	$170K	$163K	10x	as long as short
Nado MU-PERP	+0.0050%	1h	1,040.2	+0.038%	$276K	$834K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,040.6	+0.077%	$1.9M	$3.2M	10x	as long as short
QFEX MU-USD	+0.0059%	1h	1,040.3	+0.048%	$7.0M	$19.4M	10x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,041.1	+0.126%	$32K	$1K	10x	as long as short
Paradex MU-USD-PERP	+0.0080%	8h	1,040.4	+0.061%	$2K	—	5x	as long as short
Bybit MUUSDT	+0.0094%	8h	1,040.5	+0.071%	$18.9M	$32.3M	100x	as long as short
Pacifica MU	+0.0100%	1h	1,040.5	+0.066%	$152K	$227K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,040.2	+0.040%	$5.2M	$6.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,039.9	+0.010%	$71K	$270K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,040.7	+0.093%	$827	$799	20x	as long as short
Lighter MU	+0.0104%	1h	1,040.3	+0.046%	$1.0M	$4.9M	20x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0106%	1h	1,041.2	+0.134%	$32K	$731K	10x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,041.6	+0.180%	$1.5M	$2.7M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0136%	1h	1,037.9	−0.182%	$727K	$1.2M	10x	as long as short
GRVT MU_USDT_Perp	+0.0157%	8h	1,040.5	+0.067%	$73K	$1.4M	10x	as long as short
Arcus MU-USD	+0.0186%	1h	1,040	+0.023%	$90K	$159K	10x	as long as short
tradeXYZ xyz:MU	+0.0235%	1h	1,040.4	+0.060%	$177.9M	$75.1M	10x	as long as short
Bullet MU-USD	+0.0298%	1h	1,041.4	+0.152%	$26K	$383K	10x	as long as short
Extended MU_24_5-USDlong	+0.0304%	1h	1,039.8	long leg	$552K	$1.1M	10x
Phoenix MU	+0.0308%	1h	1,040.7	+0.089%	$533K	$159K	15x	as long as short
SoDEX MU-USD	+0.0458%	1h	1,040.7	+0.087%	$684K	$14K	10x	as long as short