Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0103%/8h= −11.3% APRpaid last 24h −0.057%

Price spread now: Bybit against RISEx+0.027%7-day average −0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$270.266% of the position

Long on RISEx Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.013%+$1 on $10k

Price spread, last 4 days (all we have)−0.036%−$4 · spread now +0.027%, 7d avg −0.008%

Together, before fees−0.023%−$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.035% dearer against RISEx than usual: you sell high and buy low (spread +0.027% now, against its 7-day average of −0.008%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 27 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx MU/USDC	1,051.3	0.0312	pay 0.0039% / 1h	22m 12s	$316K	$339K	20x
Short	Bybit MUUSDT	1,051.6	0.0208	get 0.0208% / 8h	7h 22m	$19.5M	$32.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against RISEx. 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 RISExbpFee BybitbpOrdersPrice spread, now +0.027%Rate

Funding earned: −$21.73
Price spread: +0.027% → −0.008%: $3.5
Slippage, 4 orders: −$9.64
Fee RISEx: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$44.87
Costs to cover: 0.266%
Break-even: never at this rate

Slippage from RISEx: live order book, 51 min ago; Bybit: live order book, 2 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 RISEx live order book, 51 min ago	1.72 bp	4.7 bp −$5	5.4 bp −$54	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.19 bp	8.8 bp −$9	13.2 bp −$132	36.7 bp −$3,666	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	−0.0040%	4h	1,051.4	+0.012%	$1.3M	$672K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,051.1	−0.016%	$62.8M	$28.9M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,049.6	−0.157%	$190K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,052.8	+0.143%	$11K	$6.2M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,050.6	−0.063%	$130K	$424K	50x	as long as short
Aftermath Perps MUUSD	+0.0022%	1h	1,050.5	−0.075%	$3K	$45K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,050.8	−0.041%	$1.2M	$4.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.008%	$19K	$5K	12x	as long as short
Lighter MU	+0.0040%	1h	1,051	−0.025%	$1.1M	$4.8M	20x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,051.9	+0.060%	—	$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	−0.026%	$171K	$203K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,050.3	−0.090%	$1.9M	$2.3M	10x	as long as short
QFEX MU-USD	+0.0054%	1h	1,051.2	−0.004%	$7.7M	$21.9M	10x	as long as short
Nado MU-PERP	+0.0086%	1h	1,050.8	−0.043%	$274K	$858K	10x	as long as short
Paradex MU-USD-PERP	+0.0092%	8h	1,051.4	+0.009%	$2K	—	5x	as long as short
Pacifica MU	+0.0100%	1h	1,050.9	−0.038%	$148K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,050.6	−0.063%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,052	+0.066%	$71K	$267K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050.9	−0.034%	$835	$799	20x	as long as short
OKX MU-USDT-SWAP	+0.0105%	8h	1,051.1	−0.015%	$30.9M	$101.8M	50x	as long as short
SoDEX MU-USD	+0.0107%	1h	1,051	−0.022%	$690K	$16K	10x	as long as short
Aevo MU-PERP	+0.0136%	1h	1,050.8	−0.045%	$32K	$1K	10x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0178%	1h	1,050.8	−0.042%	$64K	$305K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0184%	1h	1,048.4	−0.277%	$759K	$1.2M	10x	as long as short
Bybit MUUSDTshort	+0.0208%	8h	1,051.6	+0.027%	$19.5M	$32.7M	100x
Bullet MU-USD	+0.0214%	1h	1,051.3	+0.003%	$25K	$395K	10x	as long as short
Variational Omni MU	+0.0224%	8h	1,051.7	+0.036%	$2.7M	$2.4M	—	as long as short
Aster MUUSD1	+0.0238%	8h	1,050.6	−0.066%	$21.6M	$48.3M	20x	as long as short
Binance MUUSDT	+0.0238%	8h	1,051.3	+0.001%	$126.1M	$522.2M	50x	as long as short
Arcus MU-USD	+0.0240%	1h	1,050.8	−0.047%	$71K	$243K	10x	as long as short
tradeXYZ xyz:MU	+0.0242%	1h	1,050.8	−0.045%	$178.4M	$100.3M	10x	as long as short
RISEx MU/USDClong	+0.0312%	1h	1,051.3	long leg	$316K	$339K	20x
BloFin MU-USDT	+0.0356%	8h	1,051.1	−0.016%	$1.5M	$2.0M	20x	as long as short
Extended MU_24_5-USD	+0.0376%	1h	1,050.4	−0.087%	$566K	$1.2M	10x	as long as short
Bitget MUUSDT	+0.0381%	8h	1,051	−0.024%	$20.6M	$41.6M	50x	as long as short
Phoenix MU	+0.0383%	1h	1,050.9	−0.035%	$538K	$306K	15x	as long as short
GRVT MU_USDT_Perp	+0.0550%	8h	1,051.5	+0.022%	$83K	$1.3M	10x	as long as short