Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0074%/8h= +8.1% APRpaid last 24h −0.025%

Price spread now: Variational Omni against tradeXYZ+0.006%7-day average +0.067% · you sell dearer than you buy

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

Long on tradeXYZ Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.003%$0 on $10k

Price spread, last 7 days+0.010%+$1 · spread now +0.006%, 7d avg +0.067%

Together, before fees+0.007%+ Points / potential airdroptradeXYZ: Active · Variational Omni: Active · farm board+$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.061% cheaper against tradeXYZ than usual: you would sell low and buy high (spread +0.006% now, against its 7-day average of +0.067%). If the spread goes back, that is −$6 on $10k: about 2.8 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:MU	1,050.3	0.0186	pay 0.0023% / 1h	59m 52s	$178.4M	$100.2M	10x
Short	Variational Omni MU	1,050.4	0.0260	get 0.0260% / 8h	6h 59m	$2.7M	$2.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.006%Rate

Funding earned: $15.54
Price spread: +0.006% → +0.067%: −$6.13
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$8.59
Costs to cover: 0.180%
Break-even: 10.9 days

Slippage unknown: tradeXYZ: live order book, 10 min ago; Variational Omni: RFQ quote, 4 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 tradeXYZ live order book, 10 min ago	0.48 bp	9.5 bp −$9	10.4 bp −$104	15.8 bp −$1,576	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	1.90 bp	doesn't fit	3.7 bp −$37	doesn't fit	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	−0.0387%	4h	1,050.6	+0.030%	$1.3M	$672K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,050.5	+0.020%	$62.6M	$29.1M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,050	−0.033%	$190K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,051.7	+0.134%	$11K	$6.1M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,050.4	+0.010%	$66K	$315K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,050.6	+0.030%	$129K	$424K	50x	as long as short
Aftermath Perps MUUSD	+0.0022%	1h	1,050.7	+0.036%	$3K	$45K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,050.5	+0.021%	$1.2M	$4.2M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.101%	$19K	$5K	12x	as long as short
Lighter MU	+0.0040%	1h	1,050.5	+0.015%	$1.1M	$4.8M	20x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MU-USD-PERP	+0.0046%	1h	1,051.6	+0.124%	—	$179K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,050.6	+0.029%	$171K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,050.4	+0.011%	$689K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,050.1	−0.016%	$1.9M	$2.3M	10x	as long as short
QFEX MU-USD	+0.0054%	1h	1,050.7	+0.041%	$7.6M	$20.9M	10x	as long as short
Nado MU-PERP	+0.0081%	1h	1,050.7	+0.035%	$275K	$858K	10x	as long as short
Paradex MU-USD-PERP	+0.0081%	8h	1,050.9	+0.054%	$2K	—	5x	as long as short
Pacifica MU	+0.0100%	1h	1,050.8	+0.046%	$149K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,050.9	+0.059%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,050.5	+0.021%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050.6	+0.027%	$835	$799	20x	as long as short
OKX MU-USDT-SWAP	+0.0102%	8h	1,050.8	+0.048%	$30.9M	$101.5M	50x	as long as short
Aevo MU-PERP	+0.0152%	1h	1,050.4	+0.013%	$32K	$1K	10x	as long as short
Bullet MU-USD	+0.0158%	1h	1,050.7	+0.039%	$26K	$396K	10x	as long as short
Bybit MUUSDT	+0.0171%	8h	1,051	+0.066%	$19.4M	$32.6M	100x	as long as short
Coinbase International MU-PERP-INTX	+0.0184%	1h	1,050.5	+0.017%	$762K	$1.2M	10x	as long as short
tradeXYZ xyz:MUlong	+0.0186%	1h	1,050.3	long leg	$178.4M	$100.2M	10x
Extended MU_24_5-USD	+0.0232%	1h	1,050.3	−0.003%	$559K	$1.2M	10x	as long as short
Arcus MU-USD	+0.0240%	1h	1,050.7	+0.033%	$71K	$242K	10x	as long as short
Variational Omni MUshort	+0.0260%	8h	1,050.4	+0.006%	$2.7M	$2.4M	—
Aster MUUSD1	+0.0268%	8h	1,051	+0.066%	$21.6M	$48.6M	20x	as long as short
Binance MUUSDT	+0.0272%	8h	1,050.9	+0.057%	$126.1M	$522.2M	50x	as long as short
RISEx MU/USDC	+0.0312%	1h	1,050.9	+0.056%	$316K	$340K	20x	as long as short
Phoenix MU	+0.0383%	1h	1,050.9	+0.057%	$538K	$306K	15x	as long as short
BloFin MU-USDT	+0.0392%	8h	1,050.6	+0.027%	$1.5M	$2.0M	20x	as long as short
Bitget MUUSDT	+0.0408%	8h	1,050.6	+0.032%	$20.6M	$41.6M	50x	as long as short
GRVT MU_USDT_Perp	+0.0582%	8h	1,051.5	+0.115%	$83K	$1.3M	10x	as long as short