Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0066%/8h= +7.2% APRpaid last 24h 0.000%

Price spread now: Bitget against QFEX+0.093%7-day average +0.055% · 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−$24as in the Price arb table

costs, in and out, $10k−$280.281% of the position

Long on QFEX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.014%+$1 on $10k

Price spread, last 7 days−0.054%−$5 · spread now +0.093%, 7d avg +0.055%

Together, before fees−0.039%−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Bitget is 0.038% dearer against QFEX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.055%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX MU-USD	1,047.1	0.0054	pay 0.0007% / 1h	56m 59s	$7.9M	$23.7M	10x
Short	Bitget MUUSDT	1,048.1	0.0120	get 0.0120% / 8h	7h 56m	$20.6M	$41.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.093%Rate

Funding earned: $13.81
Price spread: +0.093% → +0.055%: $3.76
Slippage, 4 orders: −$6.11
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$10.55
Costs to cover: 0.281%
Break-even: 12.3 days

Slippage from QFEX: live order book, 7 min ago; Bitget: live order book, 2 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, 7 min ago	0.72 bp	5.8 bp −$6	5.8 bp −$58	10.5 bp −$1,054	doesn't fit
Sell Bitget live order book, 2 min ago	0.53 bp	7.5 bp −$7	9.4 bp −$94	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	−0.0299%	4h	1,044.8	−0.216%	$1.3M	$671K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,047.7	+0.055%	$63.1M	$28.3M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,045.1	−0.187%	$189K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,049.6	+0.243%	$11K	$6.4M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,047.4	+0.028%	$62K	$291K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,047.7	+0.059%	$130K	$420K	50x	as long as short
Aftermath Perps MUUSD	+0.0026%	1h	1,045	−0.204%	$3K	$45K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,047.8	+0.067%	$1.2M	$4.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.346%	$14K	$251	12x	as long as short
Lighter MU	+0.0040%	1h	1,047.7	+0.059%	$1.0M	$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	1,047.3	+0.019%	—	$194K	25x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,044.6	−0.239%	$2.0M	$2.3M	10x	as long as short
Nado MU-PERP	+0.0051%	1h	1,046.2	−0.081%	$271K	$866K	10x	as long as short
QFEX MU-USDlong	+0.0054%	1h	1,047.1	long leg	$7.9M	$23.7M	10x
Bybit MUUSDT	+0.0070%	8h	1,048.5	+0.135%	$19.2M	$32.6M	100x	as long as short
OKX MU-USDT-SWAP	+0.0080%	8h	1,048.5	+0.132%	$30.9M	$102.1M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,046.7	−0.040%	$153K	$180K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,046.8	−0.030%	$5.3M	$3.8M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,045.8	−0.120%	$71K	$266K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,047.8	+0.070%	$833	$799	20x	as long as short
Paradex MU-USD-PERP	+0.0102%	8h	1,047	−0.009%	$2K	—	5x	as long as short
Bitget MUUSDTshort	+0.0120%	8h	1,048.1	+0.093%	$20.6M	$41.7M	50x
Aevo MU-PERP	+0.0128%	1h	1,046	−0.107%	$33K	—	10x	as long as short
Variational Omni MU	+0.0166%	8h	1,045.6	−0.142%	$2.7M	$2.5M	—	as long as short
Aster MUUSD1	+0.0171%	8h	1,047.5	+0.042%	$21.6M	$47.5M	20x	as long as short
Binance MUUSDT	+0.0181%	8h	1,048.3	+0.118%	$125.3M	$526.9M	50x	as long as short
Coinbase International MU-PERP-INTX	+0.0184%	1h	1,046.7	−0.041%	$759K	$1.3M	10x	as long as short
GRVT MU_USDT_Perp	+0.0204%	8h	1,045.8	−0.125%	$82K	$1.4M	10x	as long as short
Arcus MU-USD	+0.0240%	1h	1,045.5	−0.152%	$70K	$243K	10x	as long as short
Polymarket Perps MU-USD	+0.0254%	1h	1,045.9	−0.114%	$169K	$203K	10x	as long as short
BloFin MU-USDT	+0.0301%	8h	1,048	+0.090%	$1.5M	$2.0M	20x	as long as short
RISEx MU/USDC	+0.0312%	1h	1,047.3	+0.023%	$315K	$337K	20x	as long as short
Extended MU_24_5-USD	+0.0368%	1h	1,044.4	−0.261%	$550K	$1.0M	10x	as long as short
SoDEX MU-USD	+0.0388%	1h	1,047	−0.012%	$687K	$16K	10x	as long as short
Phoenix MU	+0.0460%	1h	1,046	−0.104%	$535K	$306K	15x	as long as short
Bullet MU-USD	+0.0540%	1h	1,047.8	+0.072%	$26K	$394K	10x	as long as short
tradeXYZ xyz:MU	+0.0732%	1h	1,046.2	−0.085%	$177.3M	$105.1M	10x	as long as short