Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0071%/8h= −7.7% APRpaid last 24h −0.012%

Price spread now: Gate against QFEX−0.017%7-day average +0.018% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$340.337% of the position

Long on QFEX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.018%−$2 on $10k

Price spread, last 7 days+0.010%+$1 · spread now −0.017%, 7d avg +0.018%

Together, before fees−0.008%−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Gate is 0.035% cheaper against QFEX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.018%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX MU-USD	1,044.4	0.0071	pay 0.0009% / 1h	27m 20s	$7.8M	$24.2M	10x
Short	Gate MU_USDT	1,044.2	0	get 0.0000% / 8h	1h 27m	$62.9M	$29.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.017%Rate

Funding earned: −$14.85
Price spread: −0.017% → +0.018%: −$3.5
Slippage, 4 orders: −$8.72
Fee QFEX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$52.07
Costs to cover: 0.337%
Break-even: never at this rate

Slippage from QFEX: live order book, 7 min ago; Gate: 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	0.67 bp	6.7 bp −$7	6.7 bp −$67	10.7 bp −$1,066	doesn't fit
Sell Gate live order book, 2 min ago	1.10 bp	11.4 bp −$11	16.6 bp −$166	35.5 bp −$3,549	68.0 bp −$34.0K

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	−0.0856%	4h	1,044.1	−0.029%	$1.3M	$671K	10x	as long as short
Gate MU_USDTshort	0.0000%	8h	1,044.2	−0.017%	$62.9M	$29.0M	75x
StandX MU-USD	0.0000%	1h	1,043.2	−0.110%	$189K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,046.4	+0.197%	$11K	$6.6M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,044.1	−0.022%	$125K	$441K	50x	as long as short
OKX MU-USDT-SWAP	+0.0026%	8h	1,044.2	−0.015%	$30.9M	$104.9M	50x	as long as short
Aftermath Perps MUUSD	+0.0031%	1h	1,043.8	−0.056%	$3K	$45K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,044.1	−0.028%	$1.2M	$4.2M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.607%	$14K	$302	12x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,043.9	−0.047%	—	$194K	25x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps MU-USD	+0.0050%	1h	1,044	−0.035%	$165K	$189K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,044.1	−0.023%	$685K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,043.1	−0.123%	$2.0M	$2.7M	10x	as long as short
QFEX MU-USDlong	+0.0071%	1h	1,044.4	long leg	$7.8M	$24.2M	10x
Aster MUUSD1	+0.0072%	8h	1,044.8	+0.044%	$21.5M	$47.4M	20x	as long as short
Bitget MUUSDT	+0.0096%	8h	1,044.3	−0.009%	$20.4M	$43.1M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,043.7	−0.064%	$154K	$181K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,043.6	−0.076%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,044	−0.034%	$71K	$266K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,044.2	−0.014%	$830	$799	20x	as long as short
Aevo MU-PERP	+0.0120%	1h	1,043.9	−0.042%	$33K	—	10x	as long as short
Variational Omni MU	+0.0129%	8h	1,043.8	−0.052%	$2.6M	$2.7M	—	as long as short
Paradex MU-USD-PERP	+0.0132%	8h	1,044.2	−0.015%	$2K	—	5x	as long as short
Binance MUUSDT	+0.0151%	8h	1,044.3	−0.009%	$124.9M	$536.0M	50x	as long as short
Coinbase International MU-PERP-INTX	+0.0184%	1h	1,043.9	−0.045%	$756K	$1.4M	10x	as long as short
Lighter MU	+0.0192%	1h	1,044.3	−0.009%	$1.0M	$4.8M	20x	as long as short
Nado MU-PERP	+0.0209%	1h	1,043.4	−0.090%	$266K	$868K	10x	as long as short
GRVT MU_USDT_Perp	+0.0210%	8h	1,044.6	+0.018%	$82K	$1.4M	10x	as long as short
Bybit MUUSDT	+0.0235%	8h	1,044.6	+0.017%	$19.2M	$32.6M	100x	as long as short
Bullet MU-USD	+0.0267%	1h	1,044.4	+0.003%	$26K	$398K	10x	as long as short
BloFin MU-USDT	+0.0268%	8h	1,044.6	+0.022%	$1.4M	$2.1M	20x	as long as short
tradeXYZ xyz:MU	+0.0332%	1h	1,043.9	−0.045%	$176.4M	$107.1M	10x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0383%	1h	1,044	−0.035%	$61K	$247K	10x	as long as short
Phoenix MU	+0.0383%	1h	1,044.4	+0.003%	$534K	$306K	15x	as long as short
Arcus MU-USD	+0.0435%	1h	1,044	−0.038%	$73K	$241K	10x	as long as short
RISEx MU/USDC	+0.0499%	1h	1,044.7	+0.027%	$295K	$338K	20x	as long as short
Extended MU_24_5-USD	+0.0648%	1h	1,043.2	−0.107%	$541K	$1.1M	10x	as long as short