Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0118%/8h= −12.9% APRpaid last 24h +0.006%

Price spread now: QFEX against Aster−0.019%7-day average −0.041% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$240.244% of the position

Long on Aster Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.007%+$1 on $10k

Price spread, last 7 days−0.014%−$1 · spread now −0.019%, 7d avg −0.041%

Together, before fees−0.007%+ Points / potential airdropAster: Stage 5 · farm board−$1 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.023% dearer against Aster than usual: you sell high and buy low (spread −0.019% now, against its 7-day average of −0.041%): +$2 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MUUSD1	1,047.7	0.0172	pay 0.0172% / 8h	7h 56m	$21.6M	$47.8M	20x
Short	QFEX MU-USD	1,047.5	0.0054	get 0.0007% / 1h	56m 14s	$7.9M	$23.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Aster. 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 AsterbpFee QFEXbpOrdersPrice spread, now −0.019%Rate

Funding earned: −$24.69
Price spread: −0.019% → −0.041%: $2.27
Slippage, 4 orders: −$6.43
Fee Aster: 4 bp × 2 orders: −$8
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$46.85
Costs to cover: 0.244%
Break-even: never at this rate

Slippage from Aster: live order book, 3 min ago; QFEX: live order book, 8 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 Aster live order book, 3 min ago	0.91 bp	4.9 bp −$5	9.5 bp −$95	doesn't fit	doesn't fit
Sell QFEX live order book, 8 min ago	0.72 bp	6.5 bp −$6	6.5 bp −$65	9.7 bp −$968	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	−0.0299%	4h	1,044.8	−0.276%	$1.3M	$671K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,047.7	−0.004%	$63.1M	$28.3M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,046.4	−0.128%	$189K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,050.1	+0.230%	$11K	$6.4M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,048.2	+0.042%	$62K	$291K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,048.2	+0.042%	$130K	$418K	50x	as long as short
Aftermath Perps MUUSD	+0.0025%	1h	1,045.4	−0.220%	$3K	$45K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,048.4	+0.061%	$1.2M	$4.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.286%	$14K	$251	12x	as long as short
Lighter MU	+0.0040%	1h	1,048.2	+0.042%	$1.1M	$4.7M	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	1,048.3	+0.054%	—	$194K	25x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,046.4	−0.123%	$2.0M	$2.2M	10x	as long as short
QFEX MU-USDshort	+0.0054%	1h	1,047.5	−0.019%	$7.9M	$23.6M	10x
Nado MU-PERP	+0.0056%	1h	1,046.8	−0.085%	$271K	$864K	10x	as long as short
OKX MU-USDT-SWAP	+0.0084%	8h	1,048.4	+0.066%	$30.9M	$102.0M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,047.7	+0.002%	$153K	$180K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,047	−0.071%	$5.3M	$3.8M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,045.8	−0.180%	$71K	$266K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,048.2	+0.042%	$833	$799	20x	as long as short
Paradex MU-USD-PERP	+0.0104%	8h	1,047.7	−0.002%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0128%	1h	1,046.7	−0.100%	$33K	—	10x	as long as short
Bitget MUUSDT	+0.0129%	8h	1,048	+0.025%	$20.6M	$41.7M	50x	as long as short
Variational Omni MU	+0.0168%	8h	1,048.2	+0.042%	$2.7M	$2.5M	—	as long as short
Aster MUUSD1long	+0.0172%	8h	1,047.7	long leg	$21.6M	$47.8M	20x
Binance MUUSDT	+0.0182%	8h	1,048.2	+0.048%	$125.3M	$526.9M	50x	as long as short
Coinbase International MU-PERP-INTX	+0.0184%	1h	1,046.7	−0.101%	$759K	$1.3M	10x	as long as short
Bybit MUUSDT	+0.0187%	8h	1,048.4	+0.065%	$19.2M	$32.6M	100x	as long as short
GRVT MU_USDT_Perp	+0.0204%	8h	1,045.8	−0.185%	$82K	$1.4M	10x	as long as short
Arcus MU-USD	+0.0240%	1h	1,046.2	−0.148%	$71K	$243K	10x	as long as short
BloFin MU-USDT	+0.0301%	8h	1,048	+0.030%	$1.5M	$2.0M	20x	as long as short
RISEx MU/USDC	+0.0312%	1h	1,047.9	+0.013%	$315K	$339K	20x	as long as short
Extended MU_24_5-USD	+0.0448%	1h	1,044.4	−0.321%	$550K	$1.0M	10x	as long as short
Phoenix MU	+0.0460%	1h	1,046	−0.164%	$535K	$306K	15x	as long as short
SoDEX MU-USD	+0.0464%	1h	1,048	+0.027%	$688K	$16K	10x	as long as short
Polymarket Perps MU-USD	+0.0532%	1h	1,046.6	−0.106%	$169K	$202K	10x	as long as short
Bullet MU-USD	+0.0819%	1h	1,048.1	+0.041%	$26K	$394K	10x	as long as short
tradeXYZ xyz:MU	+0.0893%	1h	1,046.7	−0.097%	$177.3M	$105.2M	10x	as long as short