Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.021%

Price spread now: Bybit against tradeXYZ+0.049%7-day average +0.074% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$360.359% of the position

Long on tradeXYZ Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.086%−$9 on $10k

Price spread, last 7 days0.000%$0 · spread now +0.049%, 7d avg +0.074%

Together, before fees−0.086%+ Points / potential airdroptradeXYZ: Active · farm board−$9 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 Bybit is 0.025% cheaper against tradeXYZ than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.074%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:MU	1,041.2	0.0050	pay 0.0006% / 1h	7m 34s	$177.1M	$90.7M	10x
Short	Bybit MUUSDT	1,041.7	0	get 0.0000% / 8h	2h 07m	$18.7M	$32.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against tradeXYZ. 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 tradeXYZbpFee BybitbpOrdersPrice spread, now +0.049%Rate

Funding earned: −$10.5
Price spread: +0.049% → +0.074%: −$2.49
Slippage, 4 orders: −$6.94
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$48.93
Costs to cover: 0.359%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 12 min ago; Bybit: live order book, 1 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 tradeXYZ live order book, 12 min ago	0.48 bp	10.2 bp −$10	11.8 bp −$118	16.4 bp −$1,636	doesn't fit
Sell Bybit live order book, 1 min ago	0.86 bp	8.3 bp −$8	10.6 bp −$106	35.2 bp −$3,525	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	−0.0827%	4h	1,040.2	−0.098%	$1.3M	$671K	10x	as long as short
Bitget MUUSDT	−0.0119%	8h	1,041.5	+0.030%	$20.3M	$41.2M	50x	as long as short
Aster MUUSD1	0.0000%	8h	1,041.7	+0.046%	$21.2M	$57.2M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,041.7	+0.047%	$122.3M	$536.2M	50x	as long as short
Bybit MUUSDTshort	0.0000%	8h	1,041.7	+0.049%	$18.7M	$32.2M	100x
OKX MU-USDT-SWAP	0.0000%	8h	1,041.5	+0.029%	$30.0M	$101.7M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,041.7	+0.052%	$316K	$382K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,041.2	+0.004%	$61.7M	$28.6M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,040.3	−0.086%	$2.5M	$2.5M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,040.7	−0.044%	$84K	$1.4M	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX MU-USD	0.0000%	1h	1,040.6	−0.054%	$188K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,042.5	+0.122%	$11K	$5.7M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,040.9	−0.028%	$74K	$531K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,040.9	−0.030%	$128K	$442K	50x	as long as short
Aftermath Perps MUUSD	+0.0015%	1h	1,039.2	−0.190%	$3K	$44K	10x	as long as short
Nado MU-PERP	+0.0021%	1h	1,040.8	−0.038%	$278K	$816K	10x	as long as short
QFEX MU-USD	+0.0023%	1h	1,041.5	+0.025%	$7.0M	$18.3M	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,041.4	+0.015%	$1.2M	$4.6M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,041.1	−0.005%	$544K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.976%	$19K	$5K	12x	as long as short
Bullet MU-USD	+0.0036%	1h	1,041.2	−0.001%	$26K	$390K	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,040	−0.111%	$70K	$231K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,041.3	+0.012%	—	$175K	25x	as long as short
tradeXYZ xyz:MUlong	+0.0050%	1h	1,041.2	long leg	$177.1M	$90.7M	10x
Polymarket Perps MU-USD	+0.0050%	1h	1,040.9	−0.029%	$169K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,040.9	−0.029%	$683K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,040.5	−0.072%	$1.9M	$2.5M	10x	as long as short
Paradex MU-USD-PERP	+0.0054%	8h	1,041.6	+0.034%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,040.5	−0.070%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,041.4	+0.023%	$148K	$189K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,041.1	−0.012%	$5.2M	$3.8M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,040.8	−0.043%	$71K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,040.9	−0.032%	$827	$799	20x	as long as short
Lighter MU	+0.0104%	1h	1,041.6	+0.036%	$1.1M	$5.0M	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,040.7	−0.050%	$1.4M	$2.1M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0144%	1h	1,036	−0.502%	$731K	$1.3M	10x	as long as short
Phoenix MU	+0.0231%	1h	1,041	−0.019%	$532K	$270K	15x	as long as short