In this work, a compact all-fiber bend sensor based on a dual-core microstructured optical fiber has been manufactured and characterized. The sensor relies on the unbalanced Michelson interferometric technique realized by attaching a piece of silica fiber to one of the fiber cores acting as the unbalancing element. Three probes with different lengths of the unbalancing element have been experimentally tested for sensitivity tailoring analysis. Additionally, a theoretical model has been developed for comparison and verification of the results. Good linear behavior of the spectral shift with bend has been measured and it has been proven that the sensitivity of the sensor depends on the length of the unbalancing element and the orientation of the cores. Higher sensitivities are achieved for shorter lengths of the unbalancing element and orientation of the core axis parallel to the bend direction. The highest sensitivity reported is 9.97 pm/µm for the case of 34 µm of unbalancing element and orientation of 0 degrees.