Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0146%/8h= +16.0% APRpaid last 24h +0.027%

Price spread now: Arcus against OKX−0.305%47s7-day average −0.038% · 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—prices read too far apart to compare

costs, in and out, $10k−$250.248% of the position

Long on OKX Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.091%+$9 on $10k

Price spread, last 4 days (all we have)+0.273%+$27 · spread now −0.305%, 7d avg −0.038%

Together, before fees+0.364%+$36 on $10k · with fees, hour by hour

Funding pays, the price is against you. Arcus is 0.267% cheaper against OKX than usual: you would sell low and buy high (spread −0.305% now, against its 7-day average of −0.038%). If the spread goes back, that is −$27 on $10k: about 6.1 days of funding at the current rate (+$4 a day). The two prices were read 47 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	1,052.7	0.0094	pay 0.0094% / 8h	7h 47m	$30.9M	$102.4M	50x
Short	Arcus MU-USD	1,049.5	0.0240	get 0.0030% / 1h	47m 47s	$71K	$242K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus 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 ArcusbpOrdersPrice spread, now −0.305%Rate

Funding earned: $30.64
Price spread: −0.305% → −0.038%: −$26.74
Slippage, 4 orders: −$10.33
Fee OKX: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$20.93
Costs to cover: 0.248%
Break-even: 11.8 days

Slippage from OKX: live order book, 1 min ago; Arcus: live order book, 25 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, 1 min ago	0.05 bp	6.2 bp −$6	8.3 bp −$83	20.5 bp −$2,053	doesn't fit
Sell Arcus live order book, 25 min ago	2.49 bp	7.6 bp −$8	9.3 bp −$93	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	−0.0156%	4h	1,048.4	−0.414%	$1.3M	$672K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,052.9	+0.014%	$63.1M	$28.5M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,049	−0.358%	$190K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,054.4	+0.159%	$11K	$6.3M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,052.6	−0.009%	$130K	$426K	50x	as long as short
Aftermath Perps MUUSD	+0.0021%	1h	1,048.8	−0.368%	$3K	$45K	10x	as long as short
Lighter MU	+0.0032%	1h	1,053	+0.028%	$1.1M	$4.7M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,052.6	−0.011%	$1.2M	$4.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	−0.191%	$14K	$251	12x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,052.3	−0.038%	—	$195K	25x	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	1,051.4	−0.122%	$1.9M	$2.3M	10x	as long as short
QFEX MU-USD	+0.0054%	1h	1,052.3	−0.045%	$7.8M	$23.3M	10x	as long as short
Nado MU-PERP	+0.0060%	1h	1,051.6	−0.104%	$274K	$862K	10x	as long as short
OKX MU-USDT-SWAPlong	+0.0094%	8h	1,052.7	long leg	$30.9M	$102.4M	50x
Pacifica MU	+0.0100%	1h	1,052	−0.068%	$152K	$177K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,051.9	−0.081%	$5.3M	$3.7M	20x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,052.3	−0.042%	$837	$799	20x	as long as short
Paradex MU-USD-PERP	+0.0103%	8h	1,052.3	−0.042%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0128%	1h	1,052.8	+0.008%	$32K	$1K	10x	as long as short
Bybit MUUSDT	+0.0154%	8h	1,053.1	+0.033%	$19.2M	$32.6M	100x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0168%	1h	1,053.4	+0.066%	$63K	$294K	10x	as long as short
Variational Omni MU	+0.0177%	8h	1,049.9	−0.266%	$2.7M	$2.4M	—	as long as short
Coinbase International MU-PERP-INTX	+0.0184%	1h	1,052.2	−0.053%	$762K	$1.3M	10x	as long as short
Aster MUUSD1	+0.0192%	8h	1,051.7	−0.094%	$21.6M	$47.8M	20x	as long as short
Binance MUUSDT	+0.0198%	8h	1,053.1	+0.038%	$126.2M	$527.1M	50x	as long as short
Bitget MUUSDT	+0.0221%	8h	1,052.9	+0.019%	$20.7M	$41.7M	50x	as long as short
Arcus MU-USDshort	+0.0240%	1h	1,049.5	−0.305%	$71K	$242K	10x
Polymarket Perps MU-USD	+0.0276%	1h	1,052	−0.068%	$170K	$202K	10x	as long as short
RISEx MU/USDC	+0.0312%	1h	1,052.2	−0.046%	$316K	$339K	20x	as long as short
BloFin MU-USDT	+0.0315%	8h	1,050.8	−0.184%	$1.5M	$2.1M	20x	as long as short
Phoenix MU	+0.0383%	1h	1,050.3	−0.230%	$537K	$306K	15x	as long as short
SoDEX MU-USD	+0.0421%	1h	1,051.6	−0.108%	$690K	$16K	10x	as long as short
Bullet MU-USD	+0.0510%	1h	1,052.7	−0.004%	$27K	$394K	10x	as long as short
tradeXYZ xyz:MU	+0.0511%	1h	1,052.9	+0.017%	$178.6M	$101.5M	10x	as long as short
ApeX Omni MUUSDT	+0.0518%	1h	1,049.3	−0.324%	$71K	$267K	50x	as long as short
GRVT MU_USDT_Perp	+0.0533%	8h	1,048.8	−0.376%	$83K	$1.4M	10x	as long as short
Extended MU_24_5-USD	+0.0536%	1h	1,052.4	−0.031%	$552K	$1.1M	10x	as long as short