Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h −0.017%

Price spread now: QFEX against KuCoin+0.042%7-day average −0.004% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$380.378% of the position

Long on KuCoin Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.042%−$4 on $10k

Price spread, last 7 days−0.156%−$16 · spread now +0.042%, 7d avg −0.004%

Together, before fees−0.197%−$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.046% dearer against KuCoin than usual: you sell high and buy low (spread +0.042% now, against its 7-day average of −0.004%): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 7.7 days. At the pace of the last 3 days (−0.042% in total) that is about 3.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MUUSDTM	1,045.5	0.0100	pay 0.0100% / 8h	40m 59s	$5.2M	$3.9M	20x
Short	QFEX MU-USD	1,045.9	0.0080	get 0.0010% / 1h	40m 59s	$7.8M	$24.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against KuCoin. 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 KuCoinbpFee QFEXbpOrdersPrice spread, now +0.042%Rate

Funding earned: −$4.2
Price spread: +0.042% → −0.004%: $4.64
Slippage, 4 orders: −$15.79
Fee KuCoin: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$37.35
Costs to cover: 0.378%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 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 KuCoin live order book, 2 min ago	3.15 bp	12.8 bp −$13	510.7 bp −$5,107	doesn't fit	doesn't fit
Sell QFEX live order book, 8 min ago	0.05 bp	5.8 bp −$6	6.9 bp −$69	10.5 bp −$1,052	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	−0.0060%	4h	1,046.2	+0.068%	$1.3M	$674K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,045.9	+0.043%	$63.0M	$29.0M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,045.7	+0.016%	$189K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,048.1	+0.253%	$11K	$6.6M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,045.9	+0.036%	$124K	$445K	50x	as long as short
Lighter RH MU	+0.0032%	1h	1,045.9	+0.042%	$1.2M	$4.2M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.499%	$14K	$302	12x	as long as short
Aftermath Perps MUUSD	+0.0035%	1h	1,045.7	+0.016%	$3K	$45K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,046	+0.050%	—	$194K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,045.6	+0.011%	$166K	$197K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX MU-USD	+0.0050%	1h	1,046	+0.044%	$686K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,045.4	−0.009%	$2.0M	$2.7M	10x	as long as short
QFEX MU-USDshort	+0.0080%	1h	1,045.9	+0.042%	$7.8M	$24.0M	10x
OKX MU-USDT-SWAP	+0.0081%	8h	1,046	+0.050%	$30.8M	$105.3M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,045.4	−0.008%	$153K	$182K	10x	as long as short
KuCoin MUUSDTMlong	+0.0100%	8h	1,045.5	long leg	$5.2M	$3.9M	20x
ApeX Omni MUUSDT	+0.0100%	1h	1,046.3	+0.079%	$71K	$266K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,046	+0.051%	$832	$799	20x	as long as short
Bitget MUUSDT	+0.0136%	8h	1,046	+0.052%	$20.5M	$43.6M	50x	as long as short
Aevo MU-PERP	+0.0136%	1h	1,046	+0.050%	$33K	—	10x	as long as short
Paradex MU-USD-PERP	+0.0149%	8h	1,046	+0.049%	$2K	—	5x	as long as short
Lighter MU	+0.0160%	1h	1,045.9	+0.042%	$1.0M	$4.8M	20x	as long as short
Aster MUUSD1	+0.0172%	8h	1,046.5	+0.096%	$21.6M	$47.3M	20x	as long as short
Variational Omni MU	+0.0200%	8h	1,046.3	+0.077%	$2.6M	$2.5M	—	as long as short
Binance MUUSDT	+0.0213%	8h	1,046.1	+0.061%	$124.9M	$533.3M	50x	as long as short
Bullet MU-USD	+0.0221%	1h	1,046	+0.053%	$25K	$395K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0224%	1h	1,045.5	+0.003%	$757K	$1.4M	10x	as long as short
Nado MU-PERP	+0.0238%	1h	1,045.3	−0.019%	$270K	$876K	10x	as long as short
GRVT MU_USDT_Perp	+0.0256%	8h	1,046.3	+0.080%	$82K	$1.4M	10x	as long as short
Bybit MUUSDT	+0.0285%	8h	1,046.4	+0.083%	$19.2M	$32.6M	100x	as long as short
tradeXYZ xyz:MU	+0.0288%	1h	1,045.9	+0.039%	$176.8M	$105.8M	10x	as long as short
BloFin MU-USDT	+0.0333%	8h	1,046.1	+0.062%	$1.5M	$2.0M	20x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0448%	1h	1,045.9	+0.042%	$62K	$260K	10x	as long as short
Phoenix MU	+0.0460%	1h	1,046.6	+0.106%	$535K	$306K	15x	as long as short
Arcus MU-USD	+0.0462%	1h	1,045.6	+0.014%	$74K	$240K	10x	as long as short
RISEx MU/USDC	+0.0525%	1h	1,046.4	+0.087%	$317K	$339K	20x	as long as short
Extended MU_24_5-USD	+0.0680%	1h	1,045.1	−0.039%	$540K	$1.1M	10x	as long as short