Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0031%/8h= −3.4% APRpaid last 24h −0.015%

Price spread now: Bybit against Nado+0.015%7-day average +0.028% · 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−$27as in the Price arb table

costs, in and out, $10k−$260.256% of the position

Long on Nado Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.031%+$3 on $10k

Price spread, last 7 days+0.084%+$8 · spread now +0.015%, 7d avg +0.028%

Together, before fees+0.114%+ Points / potential airdropNado: Active · farm board+$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.028%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado MU-PERP	1,042.8	0.0031	pay 0.0004% / 1h	6m 02s	$281K	$824K	10x
Short	Bybit MUUSDT	1,042.9	0	get 0.0000% / 8h	3h 06m	$18.6M	$31.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Nado. 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 NadobpFee BybitbpOrdersPrice spread, now +0.015%Rate

Funding earned: −$6.48
Price spread: +0.015% → +0.028%: −$1.35
Slippage, 4 orders: −$7.58
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$33.41
Costs to cover: 0.256%
Break-even: never at this rate

Slippage from Nado: live order book, 47 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 Nado live order book, 47 min ago	0.05 bp	5.4 bp −$5	17.8 bp −$178	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.29 bp	8.0 bp −$8	12.3 bp −$123	29.1 bp −$2,906	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	−0.0615%	4h	1,042.3	−0.042%	$1.3M	$672K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,043.2	+0.039%	$21.2M	$56.8M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,043.1	+0.029%	$123.3M	$525.4M	50x	as long as short
Bybit MUUSDTshort	0.0000%	8h	1,042.9	+0.015%	$18.6M	$31.9M	100x
OKX MU-USDT-SWAP	0.0000%	8h	1,042.8	+0.002%	$30.7M	$99.7M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,043.5	+0.068%	$337K	$353K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,043.2	+0.043%	$62.0M	$28.1M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,043.3	+0.051%	$20.5M	$41.6M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,043.3	+0.051%	$2.7M	$2.4M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,042.3	−0.047%	$83K	$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	1,041.8	−0.092%	$188K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,045.4	+0.251%	$11K	$5.8M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,042.9	+0.013%	$129K	$435K	50x	as long as short
Aftermath Perps MUUSD	+0.0023%	1h	1,042.9	+0.011%	$3K	$44K	10x	as long as short
Nado MU-PERPlong	+0.0031%	1h	1,042.8	long leg	$281K	$824K	10x
QFEX MU-USD	+0.0032%	1h	1,043.2	+0.040%	$7.0M	$18.0M	10x	as long as short
Lighter MU	+0.0032%	1h	1,043.3	+0.050%	$1.1M	$5.1M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,043.3	+0.049%	$1.3M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,042.3	−0.050%	$555K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.823%	$19K	$5K	12x	as long as short
Bullet MU-USD	+0.0037%	1h	1,043.6	+0.079%	$26K	$392K	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,042.6	−0.017%	$70K	$232K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,043.3	+0.052%	—	$176K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,042.8	+0.002%	$177.4M	$94.9M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,043.3	+0.050%	$169K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,043	+0.022%	$684K	$16K	10x	as long as short
Paradex MU-USD-PERP	+0.0050%	8h	1,043.4	+0.062%	$2K	—	5x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,041.8	−0.096%	$1.9M	$2.3M	10x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,043	+0.018%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,042.9	+0.016%	$147K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,043.2	+0.041%	$5.2M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,042.1	−0.063%	$71K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,043.4	+0.060%	$830	$799	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0120%	1h	1,044.6	+0.175%	$749K	$1.2M	10x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,042.5	−0.031%	$1.5M	$2.0M	20x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0201%	1h	1,043.5	+0.070%	$73K	$490K	10x	as long as short
Phoenix MU	+0.0305%	1h	1,042.6	−0.017%	$533K	$271K	15x	as long as short