Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0698%/8h= −76.4% APRpaid last 24h +0.068%

Price spread now: edgeX against QFEX+0.041%57s7-day average +0.011% · 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−$240.239% of the position

Long on QFEX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.324%+$32 on $10k

Price spread, last 7 days−0.037%−$4 · spread now +0.041%, 7d avg +0.011%

Together, before fees+0.287%+ Points / potential airdropedgeX: Active · farm board+$29 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.030% dearer against QFEX than usual: you sell high and buy low (spread +0.041% now, against its 7-day average of +0.011%): +$3 on $10k if it goes back. Holding the pair costs −$21 a day in funding at the current rate, which eats that in about 3 hours. Mind the row above: over the last 3 days funding on this pair paid +0.324%, so the current rate has only just turned against you. The two prices were read 57 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	1,048.7	0.0040	pay 0.0005% / 1h	40m 37s	$7.5M	$20.1M	10x
Short	edgeX MUUSDC	1,049.1	−0.0658	pay 0.0329% / 4h	2h 40m	$1.3M	$670K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.041%Rate

Funding earned: −$146.51
Price spread: +0.041% → +0.011%: $3.04
Slippage, 4 orders: −$4.94
Fee QFEX: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$167.41
Costs to cover: 0.239%
Break-even: never at this rate

Slippage from QFEX: live order book, 4 min ago; edgeX: live order book, 3 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	2.05 bp	7.1 bp −$7	8.3 bp −$83	12.4 bp −$1,237	doesn't fit
Sell edgeX live order book, 3 min ago	0.29 bp	4.9 bp −$5	6.4 bp −$64	28.3 bp −$2,826	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 MUUSDCshort	−0.0658%	4h	1,049.1	+0.041%	$1.3M	$670K	10x
Nado MU-PERP	−0.0003%	1h	1,048.7	−0.001%	$273K	$858K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,048.6	−0.006%	$62.1M	$27.6M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,048.9	+0.025%	$190K	$3.4M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,049.3	+0.055%	$26K	$396K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,050.2	+0.145%	$11K	$6.1M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,048.8	+0.012%	$65K	$325K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,048.8	+0.013%	$129K	$429K	50x	as long as short
Bybit MUUSDT	+0.0018%	8h	1,049	+0.028%	$19.2M	$32.6M	100x	as long as short
Aftermath Perps MUUSD	+0.0022%	1h	1,049	+0.029%	$3K	$45K	10x	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	1,048.6	−0.006%	$1.1M	$4.8M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,048.7	0.000%	$1.1M	$4.1M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,048.1	−0.051%	$559K	$1.2M	10x	as long as short
QFEX MU-USDlong	+0.0040%	1h	1,048.7	long leg	$7.5M	$20.1M	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	+0.122%	—	$176K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,048.9	+0.022%	$170K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,048.9	+0.021%	$688K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,048.2	−0.050%	$1.9M	$2.4M	10x	as long as short
tradeXYZ xyz:MU	+0.0064%	1h	1,048.6	−0.007%	$178.1M	$100.1M	10x	as long as short
Paradex MU-USD-PERP	+0.0070%	8h	1,048.9	+0.024%	$2K	—	5x	as long as short
OKX MU-USDT-SWAP	+0.0077%	8h	1,048.4	−0.024%	$30.8M	$100.6M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,048.7	+0.002%	$148K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,048.8	+0.010%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,048.5	−0.019%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,049.2	+0.047%	$834	$799	20x	as long as short
Injective MU/USDC PERP	+0.0107%	1h	1,051.4	+0.257%	$19K	$5K	12x	as long as short
Coinbase International MU-PERP-INTX	+0.0128%	1h	1,050.3	+0.153%	$761K	$1.2M	10x	as long as short
Aevo MU-PERP	+0.0136%	1h	1,048.8	+0.015%	$32K	$1K	10x	as long as short
Aster MUUSD1	+0.0215%	8h	1,049	+0.032%	$21.6M	$49.7M	20x	as long as short
Variational Omni MU	+0.0219%	8h	1,049	+0.036%	$2.7M	$2.4M	—	as long as short
Binance MUUSDT	+0.0229%	8h	1,048.5	−0.012%	$126.3M	$524.5M	50x	as long as short
GRVT MU_USDT_Perp	+0.0233%	8h	1,049.7	+0.103%	$81K	$1.3M	10x	as long as short
Phoenix MU	+0.0304%	1h	1,049.3	+0.060%	$537K	$273K	15x	as long as short
Bitget MUUSDT	+0.0306%	8h	1,048.9	+0.026%	$20.2M	$41.9M	50x	as long as short
BloFin MU-USDT	+0.0368%	8h	1,049.8	+0.109%	$1.5M	$2.0M	20x	as long as short
RISEx MU/USDC	+0.0507%	1h	1,048.7	+0.003%	$333K	$348K	20x	as long as short