Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.022%

Price spread now: ApeX Omni against OKX−0.161%90s7-day average +0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as 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−$440.440% of the position

Long on OKX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.062%+$6 on $10k

Price spread, last 4 days (all we have)+0.143%+$14 · spread now −0.161%, 7d avg +0.003%

Together, before fees+0.205%+$20 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.163% cheaper against OKX than usual: you would sell low and buy high (spread −0.161% now, against its 7-day average of +0.003%). If the spread goes back, that is −$16 on $10k: about 5.4 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.062% in total) that is about 18 days. The two prices were read 90 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MU-USDT-SWAP	1,040.1	0	get 0.0000% / 8h	6h 00m	$29.6M	$107.9M	50x
Short	ApeX Omni MUUSDT	1,038.5	0.0100	get 0.0013% / 1h	0m 02s	$70K	$270K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against OKX. 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 OKXbpFee ApeX OmnibpOrdersPrice spread, now −0.161%Rate

Funding earned: $21
Price spread: −0.161% → +0.003%: −$16.33
Slippage, 4 orders: −$24.01
Fee OKX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$39.35
Costs to cover: 0.440%
Break-even: 20.1 days

Slippage from OKX: live order book, 2 min ago; ApeX Omni: live order book, 50 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 OKX live order book, 2 min ago	0.05 bp	5.1 bp −$5	7.5 bp −$75	20.3 bp −$2,027	doesn't fit
Sell ApeX Omni live order book, 50 min ago	5.18 bp	16.0 bp −$16	172.3 bp −$1,723	doesn't fit	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	−0.0723%	4h	1,039.3	−0.076%	$1.3M	$695K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,040.5	+0.034%	$21.3M	$73.2M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,040.3	+0.017%	$121.5M	$555.3M	50x	as long as short
OKX MU-USDT-SWAPlong	0.0000%	8h	1,040.1	long leg	$29.6M	$107.9M	50x
Gate MU_USDT	0.0000%	8h	1,040.3	+0.012%	$61.2M	$28.4M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,040.4	+0.025%	$19.9M	$43.6M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,039.6	−0.056%	$2.6M	$2.6M	—	as long as short
StandX MU-USD	0.0000%	1h	1,039	−0.113%	$188K	$3.7M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,042.3	+0.212%	$11K	$5.1M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,040.3	+0.017%	$120K	$474K	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	1,040.2	+0.007%	$1.2M	$4.6M	10x	as long as short
Aftermath Perps MUUSD	+0.0033%	1h	1,038.2	−0.184%	$3K	$42K	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.079%	$19K	$5K	12x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,041.1	+0.092%	—	$177K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,040.2	+0.006%	$168K	$178K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,038.9	−0.124%	$1.9M	$3.2M	10x	as long as short
QFEX MU-USD	+0.0059%	1h	1,040.2	+0.002%	$7.0M	$19.2M	10x	as long as short
Bybit MUUSDT	+0.0078%	8h	1,040.4	+0.023%	$18.8M	$32.6M	100x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,040.2	+0.008%	$32K	$1K	10x	as long as short
Paradex MU-USD-PERP	+0.0081%	8h	1,040.2	+0.006%	$2K	—	5x	as long as short
Pacifica MU	+0.0100%	1h	1,039.7	−0.047%	$147K	$223K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,039.8	−0.031%	$5.2M	$5.8M	20x	as long as short
ApeX Omni MUUSDTshort	+0.0100%	1h	1,038.5	−0.161%	$70K	$270K	50x
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,040.4	+0.028%	$827	$799	20x	as long as short
RISEx MU/USDC	+0.0107%	1h	1,039.8	−0.035%	$299K	$350K	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,040	−0.013%	$1.4M	$2.5M	20x	as long as short
Nado MU-PERP	+0.0125%	1h	1,039.4	−0.074%	$277K	$842K	10x	as long as short
Arcus MU-USD	+0.0139%	1h	1,039.9	−0.026%	$90K	$149K	10x	as long as short
SoDEX MU-USD	+0.0146%	1h	1,040.3	+0.018%	$683K	$13K	10x	as long as short
Lighter MU	+0.0152%	1h	1,040.1	−0.001%	$1.0M	$5.1M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0152%	1h	1,040.5	+0.036%	$741K	$1.1M	10x	as long as short
tradeXYZ xyz:MU	+0.0194%	1h	1,040.1	−0.004%	$177.3M	$76.0M	10x	as long as short
Bullet MU-USD	+0.0213%	1h	1,040.5	+0.035%	$25K	$386K	10x	as long as short
GRVT MU_USDT_Perp	+0.0240%	8h	1,040	−0.013%	$81K	$1.4M	10x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0308%	1h	1,040	−0.011%	$38K	$714K	10x	as long as short
Phoenix MU	+0.0310%	1h	1,039.4	−0.071%	$532K	$269K	15x	as long as short
Extended MU_24_5-USD	+0.0352%	1h	1,039.5	−0.066%	$553K	$1.1M	10x	as long as short