Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0088%/8h= −9.7% APRpaid last 24h −0.050%

Price spread now: QFEX against BloFin−0.079%7-day average −0.025% · 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−$31as in the Price arb table

costs, in and out, $10k−$250.252% of the position

Long on BloFin Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.180%−$18 on $10k

Price spread, last 4 days (all we have)+0.136%+$14 · spread now −0.079%, 7d avg −0.025%

Together, before fees−0.044%−$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and QFEX is 0.055% cheaper against BloFin than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.025%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin MU-USDT	1,044.3	0.0120	pay 0.0120% / 8h	3h 21m	$1.5M	$2.0M	20x
Short	QFEX MU-USD	1,043.5	0.0032	get 0.0004% / 1h	21m 54s	$7.0M	$18.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against BloFin. 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 BloFinbpFee QFEXbpOrdersPrice spread, now −0.079%Rate

Funding earned: −$18.58
Price spread: −0.079% → −0.025%: −$5.46
Slippage, 4 orders: −$3.23
Fee BloFin: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$49.27
Costs to cover: 0.252%
Break-even: never at this rate

Slippage from BloFin: live order book, 11 min ago; QFEX: live order book, 7 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 BloFin live order book, 11 min ago	0.05 bp	6.0 bp −$6	6.2 bp −$62	6.4 bp −$639	doesn't fit
Sell QFEX live order book, 7 min ago	0.43 bp	6.7 bp −$7	7.5 bp −$75	12.8 bp −$1,285	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	−0.0396%	4h	1,046.6	+0.218%	$1.3M	$671K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,045.2	+0.082%	$21.2M	$56.6M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,045	+0.063%	$124.3M	$522.4M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,045.3	+0.092%	$18.7M	$31.8M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,045	+0.065%	$30.9M	$99.6M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,044	−0.028%	$337K	$354K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,044.7	+0.042%	$62.0M	$27.9M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,045.2	+0.088%	$20.5M	$41.6M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,045.4	+0.109%	$2.7M	$2.4M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,045.6	+0.127%	$79K	$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	1,044.2	−0.008%	$189K	$3.4M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,047.2	+0.282%	$11K	$5.8M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,044.5	+0.016%	$130K	$435K	50x	as long as short
Aftermath Perps MUUSD	+0.0023%	1h	1,044.8	+0.049%	$3K	$44K	10x	as long as short
QFEX MU-USDshort	+0.0032%	1h	1,043.5	−0.079%	$7.0M	$18.0M	10x
Lighter MU	+0.0032%	1h	1,044.7	+0.034%	$1.1M	$5.1M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,044.6	+0.026%	$1.3M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,044.2	−0.006%	$548K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.676%	$19K	$5K	12x	as long as short
Nado MU-PERP	+0.0039%	1h	1,043.7	−0.062%	$281K	$828K	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,044.5	+0.023%	$70K	$233K	10x	as long as short
Bullet MU-USD	+0.0044%	1h	1,044.6	+0.029%	$25K	$393K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,044.4	+0.008%	—	$176K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,044.4	+0.010%	$176.8M	$95.3M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,043.6	−0.067%	$169K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,043.8	−0.047%	$685K	$16K	10x	as long as short
Paradex MU-USD-PERP	+0.0050%	8h	1,043.7	−0.061%	$2K	—	5x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,043	−0.125%	$1.9M	$2.2M	10x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0076%	1h	1,044.5	+0.018%	$73K	$477K	10x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,044.3	0.000%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,043.8	−0.049%	$147K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,044.7	+0.034%	$5.2M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,045.8	+0.145%	$71K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,044.4	+0.011%	$830	$799	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0120%	1h	1,044.7	+0.042%	$750K	$1.2M	10x	as long as short
BloFin MU-USDTlong	+0.0120%	8h	1,044.3	long leg	$1.5M	$2.0M	20x
Phoenix MU	+0.0305%	1h	1,045.9	+0.153%	$535K	$271K	15x	as long as short