Funding arb · Price arb /

MU

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0140%/8h= +15.3% APRpaid last 24h +0.006%

Price spread now: Arcus against Orderly−0.031%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Arcus is 0.031% cheaper against Orderly than usual: you would sell low and buy high (spread −0.031% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 18 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_MU_USDC_mythos	1,051.4	0.0100	pay 0.0100% / 8h	7h 24m	$836	$799	20x
Short	Arcus MU-USD	1,051.1	0.0240	get 0.0030% / 1h	24m 36s	$71K	$243K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Orderly. 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 OrderlybpFee ArcusbpOrdersPrice spread, now −0.031%Rate

Funding earned: $29.33
Price spread: −0.031% → 0.000%: −$3.14
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $15.7
Costs to cover: 0.105%
Break-even: 3.3 days

Slippage unknown: Orderly: no order-book sample; Arcus: live order book, 49 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 Orderly no order-book sample	—	—	—	—	—
Sell Arcus live order book, 49 min ago	2.49 bp	7.6 bp −$8	9.3 bp −$93	doesn't fit	doesn't fit

Orderly: 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	+0.106%	$1.3M	$672K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,050.5	−0.088%	$62.8M	$28.9M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,050.3	−0.103%	$190K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,052.6	+0.112%	$11K	$6.2M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,051.1	−0.034%	$129K	$424K	50x	as long as short
Aftermath Perps MUUSD	+0.0022%	1h	1,050.8	−0.055%	$3K	$45K	10x	as long as short
Lighter MU	+0.0032%	1h	1,050.4	−0.094%	$1.1M	$4.8M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,050.5	−0.083%	$1.2M	$4.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	−0.005%	$19K	$5K	12x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,051.4	+0.002%	—	$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-USD	+0.0050%	1h	1,051	−0.039%	$171K	$203K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,049.7	−0.164%	$1.9M	$2.3M	10x	as long as short
QFEX MU-USD	+0.0054%	1h	1,050.5	−0.091%	$7.7M	$22.0M	10x	as long as short
Nado MU-PERP	+0.0085%	1h	1,049.7	−0.165%	$274K	$857K	10x	as long as short
Paradex MU-USD-PERP	+0.0092%	8h	1,050.5	−0.087%	$2K	—	5x	as long as short
Pacifica MU	+0.0100%	1h	1,050.6	−0.074%	$148K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,050.6	−0.082%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,052	+0.052%	$71K	$267K	50x	as long as short
Orderly PERP_MU_USDC_mythoslong	+0.0100%	8h	1,051.4	long leg	$836	$799	20x
OKX MU-USDT-SWAP	+0.0104%	8h	1,050.5	−0.091%	$30.9M	$101.8M	50x	as long as short
Aevo MU-PERP	+0.0136%	1h	1,051	−0.038%	$32K	$1K	10x	as long as short
SoDEX MU-USD	+0.0139%	1h	1,051.2	−0.019%	$690K	$16K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0184%	1h	1,048.4	−0.290%	$759K	$1.2M	10x	as long as short
Bybit MUUSDT	+0.0197%	8h	1,050.6	−0.074%	$19.4M	$32.6M	100x	as long as short
Bullet MU-USD	+0.0224%	1h	1,051.4	+0.001%	$26K	$396K	10x	as long as short
Variational Omni MU	+0.0224%	8h	1,051.7	+0.023%	$2.7M	$2.4M	—	as long as short
Aster MUUSD1	+0.0235%	8h	1,050.6	−0.082%	$21.6M	$48.3M	20x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0235%	1h	1,051.1	−0.028%	$64K	$304K	10x	as long as short
Binance MUUSDT	+0.0237%	8h	1,050.5	−0.087%	$126.0M	$522.5M	50x	as long as short
Arcus MU-USDshort	+0.0240%	1h	1,051.1	−0.031%	$71K	$243K	10x
tradeXYZ xyz:MU	+0.0252%	1h	1,050.5	−0.087%	$178.3M	$100.3M	10x	as long as short
RISEx MU/USDC	+0.0312%	1h	1,050.4	−0.093%	$316K	$339K	20x	as long as short
BloFin MU-USDT	+0.0355%	8h	1,051.3	−0.013%	$1.5M	$2.0M	20x	as long as short
Bitget MUUSDT	+0.0377%	8h	1,050.1	−0.129%	$20.6M	$41.6M	50x	as long as short
Phoenix MU	+0.0383%	1h	1,050.2	−0.115%	$537K	$306K	15x	as long as short
Extended MU_24_5-USD	+0.0400%	1h	1,049.8	−0.150%	$570K	$1.2M	10x	as long as short
GRVT MU_USDT_Perp	+0.0551%	8h	1,052.6	+0.111%	$83K	$1.3M	10x	as long as short