Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: SunX against Ondo Perps+0.209%7-day average +0.255% · you sell dearer than you buy

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

Long on Ondo Perps Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.083%−$8 on $10k

Price spread, last 3 days (all we have)−0.026%−$3 · spread now +0.209%, 7d avg +0.255%

Together, before fees−0.108%+ Points / potential airdropOndo Perps: Active · farm board−$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and SunX is 0.047% cheaper against Ondo Perps than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.255%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps MU-USD.P	1,050	0.0050	pay 0.0006% / 1h	50m 47s	$1.9M	$2.3M	10x
Short	SunX MU-USDT	1,052.2	0	get 0.0000% / 8h	5h 50m	$11K	$5.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.209%Rate

Funding earned: −$10.58
Price spread: +0.209% → +0.255%: −$4.67
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee SunX: 4 bp × 2 orders: −$8
Net: −$28.26
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; SunX: live order book, 8 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 SunX live order book, 8 min ago	500.07 bp	doesn't fit	doesn't fit	doesn't fit	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 36 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	−0.0504%	4h	1,050.4	+0.041%	$1.3M	$671K	10x	as long as short
RISEx MU/USDC	0.0000%	1h	1,050.7	+0.072%	$333K	$349K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,050.6	+0.054%	$62.1M	$27.4M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,050.1	+0.007%	$190K	$3.4M	20x	as long as short
SunX MU-USDTshort	0.0000%	8h	1,052.2	+0.209%	$11K	$5.9M	10x
HTX MU-USDT	0.0000%	8h	1,050.4	+0.035%	$129K	$427K	50x	as long as short
Aftermath Perps MUUSD	+0.0019%	1h	1,050.3	+0.032%	$3K	$45K	10x	as long as short
GRVT MU_USDT_Perp	+0.0021%	8h	1,050.7	+0.068%	$79K	$1.3M	10x	as long as short
Bybit MUUSDT	+0.0021%	8h	1,050.9	+0.084%	$19.2M	$32.4M	100x	as long as short
QFEX MU-USD	+0.0030%	1h	1,050.5	+0.044%	$7.3M	$18.5M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH MU	+0.0032%	1h	1,050.5	+0.044%	$1.2M	$4.2M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,049.8	−0.019%	$564K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.130%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,050.3	+0.028%	$71K	$235K	10x	as long as short
OKX MU-USDT-SWAP	+0.0043%	8h	1,050.7	+0.068%	$31.0M	$100.2M	50x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,051.2	+0.112%	—	$175K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,050.3	+0.030%	$170K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,050.5	+0.050%	$689K	$16K	10x	as long as short
Ondo Perps MU-USD.Plong	+0.0050%	1h	1,050	long leg	$1.9M	$2.3M	10x
Paradex MU-USD-PERP	+0.0060%	8h	1,050.6	+0.058%	$2K	—	5x	as long as short
Coinbase International MU-PERP-INTX	+0.0096%	1h	1,049.9	−0.005%	$756K	$1.2M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,050.6	+0.057%	$149K	$187K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,050.5	+0.050%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,050.8	+0.077%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050.6	+0.057%	$835	$799	20x	as long as short
Lighter MU	+0.0112%	1h	1,050.5	+0.051%	$1.1M	$4.8M	20x	as long as short
Aster MUUSD1	+0.0112%	8h	1,050.4	+0.040%	$21.5M	$52.1M	20x	as long as short
Nado MU-PERP	+0.0115%	1h	1,049.9	−0.010%	$280K	$850K	10x	as long as short
Aevo MU-PERP	+0.0120%	1h	1,050.2	+0.021%	$32K	$1K	10x	as long as short
tradeXYZ xyz:MU	+0.0140%	1h	1,050.3	+0.030%	$178.3M	$99.2M	10x	as long as short
Variational Omni MU	+0.0144%	8h	1,050.4	+0.043%	$2.7M	$2.3M	—	as long as short
Bullet MU-USD	+0.0164%	1h	1,050.6	+0.056%	$26K	$397K	10x	as long as short
Binance MUUSDT	+0.0166%	8h	1,050.8	+0.074%	$126.6M	$520.1M	50x	as long as short
Bitget MUUSDT	+0.0170%	8h	1,050.5	+0.050%	$20.6M	$41.2M	50x	as long as short
Phoenix MU	+0.0229%	1h	1,050.7	+0.068%	$537K	$271K	15x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0255%	1h	1,050.4	+0.036%	$66K	$354K	10x	as long as short