MU

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0040%/8h= −4.3% APRnext payment −$0.05 per $10,000 · paid last 24h +0.025%

Price spread now: Bullet against QFEX+0.051%7-day average +0.024% · 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−$25as in the Price arb table

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

Long on QFEX Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.114%+$11 on $10k

Price spread, last 4 days (all we have)−0.131%−$13 · spread now +0.051%, 7d avg +0.024%

Together, before fees−0.016%−$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bullet is 0.027% dearer against QFEX than usual: you sell high and buy low (spread +0.051% now, against its 7-day average of +0.024%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.2 days. Mind the row above: over the last 3 days funding on this pair paid +0.114%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX MU-USD	1,048.7	0.0040	pay 0.0005% / 1h	40m 55s	$7.5M	$20.2M	10x
Short	Bullet MU-USD	1,049.3	0	get 0.0000% / 1h	40m 55s	$26K	$396K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet 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 BulletbpOrdersPrice spread, now +0.051%Rate

Funding earned: −$8.33
Price spread: +0.051% → +0.024%: $2.67
Slippage, 4 orders: −$10.07
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$33.73
Costs to cover: 0.281%
Break-even: never at this rate

Slippage from QFEX: live order book, 8 min ago; Bullet: live order book, 28 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, 8 min ago	0.24 bp	5.8 bp −$6	7.1 bp −$71	11.6 bp −$1,161	doesn't fit
Sell Bullet live order book, 28 min ago	1.43 bp	8.3 bp −$8	20.9 bp −$209	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	−0.0658%	4h	1,049.1	+0.036%	$1.3M	$670K	10x	as long as short
Nado MU-PERP	−0.0002%	1h	1,048.7	−0.005%	$273K	$858K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,049.2	+0.046%	$62.1M	$27.6M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,048.9	+0.013%	$190K	$3.4M	20x	as long as short
Bullet MU-USDshort	0.0000%	1h	1,049.3	+0.051%	$26K	$396K	10x
SunX MU-USDT	0.0000%	8h	1,050.2	+0.140%	$11K	$6.1M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,048.8	+0.008%	$65K	$325K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,048.8	+0.009%	$129K	$429K	50x	as long as short
Aftermath Perps MUUSD	+0.0022%	1h	1,049	+0.024%	$3K	$45K	10x	as long as short
Bybit MUUSDT	+0.0029%	8h	1,049.1	+0.038%	$19.2M	$32.6M	100x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MU	+0.0032%	1h	1,049.1	+0.038%	$1.1M	$4.8M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,049.1	+0.035%	$1.1M	$4.1M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,048.9	+0.013%	$559K	$1.2M	10x	as long as short
QFEX MU-USDlong	+0.0040%	1h	1,048.7	long leg	$7.5M	$20.2M	10x
Arcus MU-USD	+0.0040%	1h	1,049	+0.028%	$71K	$242K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,050	+0.117%	—	$176K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,048.9	+0.017%	$170K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,048.9	+0.016%	$688K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,048.2	−0.054%	$1.9M	$2.4M	10x	as long as short
tradeXYZ xyz:MU	+0.0066%	1h	1,049.2	+0.046%	$178.2M	$100.1M	10x	as long as short
Paradex MU-USD-PERP	+0.0070%	8h	1,048.9	+0.019%	$2K	—	5x	as long as short
OKX MU-USDT-SWAP	+0.0077%	8h	1,049.3	+0.059%	$30.8M	$100.6M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,048.7	−0.003%	$148K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,049.2	+0.049%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,048.5	−0.024%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,049.2	+0.042%	$834	$799	20x	as long as short
Injective MU/USDC PERP	+0.0107%	1h	1,051.4	+0.252%	$19K	$5K	12x	as long as short
Coinbase International MU-PERP-INTX	+0.0128%	1h	1,050.3	+0.148%	$761K	$1.2M	10x	as long as short
Aevo MU-PERP	+0.0136%	1h	1,048.8	+0.010%	$32K	$1K	10x	as long as short
Aster MUUSD1	+0.0219%	8h	1,049.4	+0.063%	$21.6M	$49.7M	20x	as long as short
Variational Omni MU	+0.0219%	8h	1,049	+0.031%	$2.7M	$2.4M	—	as long as short
Binance MUUSDT	+0.0232%	8h	1,049	+0.024%	$126.3M	$524.6M	50x	as long as short
GRVT MU_USDT_Perp	+0.0233%	8h	1,049.7	+0.098%	$81K	$1.3M	10x	as long as short
Phoenix MU	+0.0304%	1h	1,049.3	+0.055%	$537K	$273K	15x	as long as short
Bitget MUUSDT	+0.0312%	8h	1,049.2	+0.046%	$20.3M	$41.9M	50x	as long as short
BloFin MU-USDT	+0.0368%	8h	1,049.8	+0.104%	$1.5M	$2.0M	20x	as long as short
RISEx MU/USDC	+0.0507%	1h	1,049.3	+0.052%	$333K	$348K	20x	as long as short