Funding arb · Price arb /

MU

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0050%/8h= −5.4% APRpaid last 24h −0.015%

Price spread now: Ondo Perps against Orderly−0.052%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 Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropOndo Perps: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Ondo Perps is 0.052% cheaper against Orderly than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_MU_USDC_mythos	1,049.8	0.0100	pay 0.0100% / 8h	5h 46m	$835	$799	20x
Short	Ondo Perps MU-USD.P	1,049.3	0.0050	get 0.0006% / 1h	46m 16s	$1.9M	$2.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.052%Rate

Funding earned: −$10.42
Price spread: −0.052% → 0.000%: −$5.24
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$26.65
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Ondo Perps: no order-book sample. 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 Ondo Perps no order-book sample	—	—	—	—	—

Orderly and 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	−0.0822%	4h	1,050.1	+0.028%	$1.3M	$672K	10x	as long as short
RISEx MU/USDC	0.0000%	1h	1,049.9	+0.008%	$333K	$349K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,049.6	−0.019%	$62.0M	$27.4M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,049.6	−0.018%	$190K	$3.4M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,051.5	+0.157%	$11K	$5.9M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,049.4	−0.044%	$67K	$358K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,049.5	−0.030%	$129K	$427K	50x	as long as short
Bybit MUUSDT	+0.0013%	8h	1,050	+0.021%	$19.1M	$32.3M	100x	as long as short
Aftermath Perps MUUSD	+0.0020%	1h	1,049.9	+0.009%	$3K	$44K	10x	as long as short
GRVT MU_USDT_Perp	+0.0024%	8h	1,050.8	+0.091%	$79K	$1.3M	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX MU-USD	+0.0030%	1h	1,049.6	−0.020%	$7.2M	$18.4M	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,049.6	−0.026%	$1.2M	$4.2M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,049.3	−0.051%	$564K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.147%	$19K	$5K	12x	as long as short
OKX MU-USDT-SWAP	+0.0038%	8h	1,049.7	−0.012%	$31.0M	$100.0M	50x	as long as short
Arcus MU-USD	+0.0040%	1h	1,049.8	+0.001%	$71K	$235K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,050.8	+0.089%	—	$175K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,049.5	−0.030%	$170K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,049.6	−0.019%	$689K	$16K	10x	as long as short
Ondo Perps MU-USD.Pshort	+0.0050%	1h	1,049.3	−0.052%	$1.9M	$2.3M	10x
Paradex MU-USD-PERP	+0.0059%	8h	1,049.9	+0.007%	$2K	—	5x	as long as short
Lighter MU	+0.0064%	1h	1,049.7	−0.013%	$1.1M	$4.8M	20x	as long as short
Nado MU-PERP	+0.0092%	1h	1,049.5	−0.031%	$280K	$848K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0096%	1h	1,049.9	+0.011%	$756K	$1.2M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,049.8	−0.007%	$148K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,049.7	−0.016%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,049.6	−0.025%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythoslong	+0.0100%	8h	1,049.8	long leg	$835	$799	20x
tradeXYZ xyz:MU	+0.0101%	1h	1,049.4	−0.040%	$178.1M	$99.2M	10x	as long as short
Aster MUUSD1	+0.0103%	8h	1,049.9	+0.007%	$21.4M	$52.1M	20x	as long as short
Aevo MU-PERP	+0.0120%	1h	1,049.4	−0.043%	$32K	$1K	10x	as long as short
Bullet MU-USD	+0.0127%	1h	1,049.9	+0.008%	$26K	$397K	10x	as long as short
Variational Omni MU	+0.0144%	8h	1,050.4	+0.059%	$2.7M	$2.3M	—	as long as short
Bitget MUUSDT	+0.0159%	8h	1,049.8	−0.003%	$20.6M	$41.2M	50x	as long as short
Binance MUUSDT	+0.0160%	8h	1,049.8	−0.001%	$126.4M	$519.6M	50x	as long as short
Phoenix MU	+0.0229%	1h	1,050.2	+0.036%	$537K	$271K	15x	as long as short
BloFin MU-USDT	+0.0282%	8h	1,049.9	+0.006%	—	$2.0M	20x	as long as short