Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Polymarket Perps against Ondo Perps+0.030%7-day average +0.064% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Ondo Perps Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.020%+$2 on $10k

Price spread, last 3 days (all we have)+0.001%$0 · spread now +0.030%, 7d avg +0.064%

Together, before fees+0.021%+ Points / potential airdropOndo Perps: Active · farm board+$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Polymarket Perps is 0.035% cheaper against Ondo Perps than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.064%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps MU-USD.P	1,049.7	0.0050	pay 0.0006% / 1h	23m 58s	$1.9M	$2.3M	10x
Short	Polymarket Perps MU-USD	1,050	0.0050	get 0.0006% / 1h	23m 58s	$171K	$203K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Ondo Perps. 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 Ondo PerpsbpFee Polymarket PerpsbpOrdersPrice spread, now +0.030%Rate

Funding earned: −$0.08
Price spread: +0.030% → +0.064%: −$3.46
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$16.54
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Polymarket Perps: live order book, 48 min ago. Net counts fees only.

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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Polymarket Perps live order book, 48 min ago	1.91 bp	5.9 bp −$6	6.8 bp −$68	9.8 bp −$984	doesn't fit

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0576%	4h	1,052.5	+0.270%	$1.3M	$672K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,050.3	+0.057%	$62.8M	$28.9M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,050.3	+0.061%	$190K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,051.7	+0.188%	$11K	$6.2M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,050.2	+0.051%	$129K	$424K	50x	as long as short
Aftermath Perps MUUSD	+0.0022%	1h	1,050.4	+0.071%	$3K	$45K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,050.2	+0.048%	$1.2M	$4.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.159%	$19K	$5K	12x	as long as short
Lighter MU	+0.0040%	1h	1,050.3	+0.060%	$1.1M	$4.8M	20x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,051.4	+0.166%	—	$179K	25x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps MU-USDshort	+0.0050%	1h	1,050	+0.030%	$171K	$203K	10x
Ondo Perps MU-USD.Plong	+0.0050%	1h	1,049.7	long leg	$1.9M	$2.3M	10x
QFEX MU-USD	+0.0054%	1h	1,050.5	+0.072%	$7.7M	$22.0M	10x	as long as short
Nado MU-PERP	+0.0085%	1h	1,049.7	−0.001%	$274K	$857K	10x	as long as short
Paradex MU-USD-PERP	+0.0092%	8h	1,050.5	+0.077%	$2K	—	5x	as long as short
Pacifica MU	+0.0100%	1h	1,050.6	+0.089%	$148K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,050.2	+0.046%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,052	+0.216%	$71K	$267K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050.5	+0.076%	$835	$799	20x	as long as short
OKX MU-USDT-SWAP	+0.0104%	8h	1,050.3	+0.058%	$30.9M	$101.8M	50x	as long as short
SoDEX MU-USD	+0.0119%	1h	1,050.3	+0.060%	$689K	$16K	10x	as long as short
Aevo MU-PERP	+0.0136%	1h	1,050	+0.030%	$32K	$1K	10x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0169%	1h	1,049.9	+0.023%	$64K	$304K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0184%	1h	1,048.4	−0.127%	$759K	$1.2M	10x	as long as short
Bybit MUUSDT	+0.0197%	8h	1,050.4	+0.071%	$19.4M	$32.6M	100x	as long as short
Bullet MU-USD	+0.0219%	1h	1,050.5	+0.077%	$26K	$396K	10x	as long as short
Variational Omni MU	+0.0224%	8h	1,051.7	+0.187%	$2.7M	$2.4M	—	as long as short
Aster MUUSD1	+0.0235%	8h	1,050.2	+0.050%	$21.6M	$48.3M	20x	as long as short
Binance MUUSDT	+0.0237%	8h	1,050.3	+0.058%	$126.0M	$522.6M	50x	as long as short
Arcus MU-USD	+0.0240%	1h	1,051.1	+0.132%	$71K	$243K	10x	as long as short
tradeXYZ xyz:MU	+0.0248%	1h	1,050.3	+0.058%	$178.3M	$100.3M	10x	as long as short
RISEx MU/USDC	+0.0312%	1h	1,050.4	+0.071%	$316K	$339K	20x	as long as short
BloFin MU-USDT	+0.0355%	8h	1,051.3	+0.151%	$1.5M	$2.0M	20x	as long as short
Bitget MUUSDT	+0.0377%	8h	1,050.3	+0.062%	$20.6M	$41.6M	50x	as long as short
Phoenix MU	+0.0383%	1h	1,050.2	+0.049%	$537K	$306K	15x	as long as short
Extended MU_24_5-USD	+0.0384%	1h	1,049.6	−0.011%	$570K	$1.2M	10x	as long as short
GRVT MU_USDT_Perp	+0.0551%	8h	1,052.6	+0.275%	$83K	$1.3M	10x	as long as short