Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0023%/8h= −2.5% APRpaid last 24h +0.002%

Price spread now: Aster against QFEX+0.090%53s7-day average +0.042% · 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—prices read too far apart to compare

costs, in and out, $10k−$290.288% of the position

Long on QFEX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.007%+$1 on $10k

Price spread, last 7 days−0.085%−$9 · spread now +0.090%, 7d avg +0.042%

Together, before fees−0.078%+ Points / potential airdropAster: Stage 5 · farm board−$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.048% dearer against QFEX than usual: you sell high and buy low (spread +0.090% now, against its 7-day average of +0.042%): +$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 6.9 days. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX MU-USD	1,042.1	0.0023	pay 0.0003% / 1h	54m 43s	$7.0M	$18.1M	10x
Short	Aster MUUSD1	1,043.1	0	get 0.0000% / 8h	2h 54m	$21.2M	$57.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against QFEX. 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 QFEXbpFee AsterbpOrdersPrice spread, now +0.090%Rate

Funding earned: −$4.87
Price spread: +0.090% → +0.042%: $4.8
Slippage, 4 orders: −$10.76
Fee QFEX: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$28.83
Costs to cover: 0.288%
Break-even: never at this rate

Slippage from QFEX: live order book, 4 min ago; Aster: live order book, 4 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 QFEX live order book, 4 min ago	0.34 bp	5.5 bp −$6	5.9 bp −$59	10.8 bp −$1,078	doesn't fit
Sell Aster live order book, 4 min ago	1.68 bp	7.8 bp −$8	19.6 bp −$196	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	−0.0628%	4h	1,041.4	−0.073%	$1.3M	$671K	10x	as long as short
Aster MUUSD1short	0.0000%	8h	1,043.1	+0.090%	$21.2M	$57.2M	20x
Binance MUUSDT	0.0000%	8h	1,042.5	+0.039%	$123.0M	$526.5M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,042.6	+0.048%	$18.6M	$32.0M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,042.7	+0.051%	$30.5M	$99.9M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,042.2	+0.009%	$336K	$354K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,042.3	+0.018%	$61.9M	$27.9M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,042.6	+0.040%	$20.4M	$41.7M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,042.8	+0.067%	$2.7M	$2.4M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,042.1	+0.001%	$83K	$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	1,042.6	+0.048%	$188K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,043.7	+0.152%	$11K	$5.7M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,042.1	−0.005%	$73K	$497K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,042.5	+0.036%	$128K	$439K	50x	as long as short
Aftermath Perps MUUSD	+0.0020%	1h	1,041.2	−0.094%	$3K	$44K	10x	as long as short
QFEX MU-USDlong	+0.0023%	1h	1,042.1	long leg	$7.0M	$18.1M	10x
Lighter RH MU	+0.0032%	1h	1,042.4	+0.021%	$1.2M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,041.8	−0.036%	$546K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.886%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,041.5	−0.062%	$70K	$232K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,042.5	+0.031%	—	$176K	25x	as long as short
Nado MU-PERP	+0.0046%	1h	1,041.8	−0.033%	$281K	$821K	10x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,042.1	−0.003%	$177.1M	$93.5M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,041.6	−0.051%	$169K	$203K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,041.5	−0.063%	$1.9M	$2.3M	10x	as long as short
Paradex MU-USD-PERP	+0.0051%	8h	1,042.6	+0.046%	$2K	—	5x	as long as short
SoDEX MU-USD	+0.0057%	1h	1,042.4	+0.021%	$684K	$16K	10x	as long as short
Bullet MU-USD	+0.0064%	1h	1,042.2	+0.006%	$26K	$392K	10x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,041.8	−0.031%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,042.4	+0.027%	$147K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,042.1	−0.005%	$5.2M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,041.9	−0.021%	$71K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,042.2	+0.003%	$829	$799	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,042.8	+0.063%	$1.5M	$2.0M	20x	as long as short
Lighter MU	+0.0136%	1h	1,042.8	+0.063%	$1.1M	$4.9M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0144%	1h	1,041.2	−0.090%	$746K	$1.1M	10x	as long as short
Phoenix MU	+0.0305%	1h	1,040.7	−0.137%	$532K	$270K	15x	as long as short