Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0027%/8h= −2.9% APRpaid last 24h −0.014%

Price spread now: HTX against QFEX+0.094%7-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−$22as in the Price arb table

costs, in and out, $10k−$300.304% of the position

Long on QFEX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.023%−$2 on $10k

Price spread, last 4 days (all we have)−0.206%−$21 · spread now +0.094%, 7d avg +0.011%

Together, before fees−0.230%−$23 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.083% dearer against QFEX than usual: you sell high and buy low (spread +0.094% now, against its 7-day average of +0.011%): +$8 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 10 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX MU-USD	1,029.4	0.0027	pay 0.0003% / 1h	17m 49s	$6.9M	$19.0M	10x
Short	HTX MU-USDT	1,030.4	0	get 0.0000% / 8h	7h 17m	$118K	$495K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.094%Rate

Funding earned: −$5.59
Price spread: +0.094% → +0.011%: $8.34
Slippage, 4 orders: −$8.44
Fee QFEX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$27.69
Costs to cover: 0.304%
Break-even: never at this rate

Slippage from QFEX: live order book, 6 min ago; HTX: live order book, 16 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, 6 min ago	0.39 bp	5.4 bp −$5	6.3 bp −$63	9.8 bp −$975	doesn't fit
Sell HTX live order book, 16 min ago	2.63 bp	8.6 bp −$9	10.2 bp −$102	21.0 bp −$2,099	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	−0.0281%	4h	1,028.4	−0.102%	$1.3M	$695K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,030.5	+0.104%	$21.1M	$69.2M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,030.9	+0.147%	$121.9M	$549.0M	50x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,031	+0.153%	$29.2M	$103.6M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,029.9	+0.049%	$293K	$386K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,030.4	+0.097%	$61.8M	$28.4M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,031.3	+0.179%	$19.8M	$41.1M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,029.6	+0.019%	$2.5M	$2.6M	—	as long as short
StandX MU-USD	0.0000%	1h	1,029.1	−0.032%	$186K	$3.6M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,030.8	+0.137%	$11K	$5.3M	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX MU-USDTshort	0.0000%	8h	1,030.4	+0.094%	$118K	$495K	50x
QFEX MU-USDlong	+0.0027%	1h	1,029.4	long leg	$6.9M	$19.0M	10x
Bybit MUUSDT	+0.0027%	8h	1,030.6	+0.109%	$18.6M	$32.4M	100x	as long as short
Aftermath Perps MUUSD	+0.0029%	1h	1,027.8	−0.156%	$3K	$43K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,030.5	+0.103%	$1.1M	$4.5M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,029.6	+0.015%	$539K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+2.130%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,029.4	−0.008%	$89K	$234K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,029.9	+0.045%	—	$179K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,030	+0.055%	$167K	$177K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,028.8	−0.065%	$1.9M	$3.1M	10x	as long as short
SoDEX MU-USD	+0.0066%	1h	1,030.2	+0.070%	$676K	$15K	10x	as long as short
Paradex MU-USD-PERP	+0.0074%	8h	1,029.6	+0.012%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,029.6	+0.017%	$32K	$1K	10x	as long as short
Lighter MU	+0.0088%	1h	1,030.7	+0.127%	$991K	$5.0M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0096%	1h	1,029.4	−0.002%	$719K	$1.1M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,029	−0.038%	$146K	$194K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,029.7	+0.025%	$5.1M	$4.8M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,029	−0.042%	$70K	$270K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,030.4	+0.096%	$819	$799	20x	as long as short
Nado MU-PERP	+0.0102%	1h	1,028.7	−0.066%	$263K	$815K	10x	as long as short
tradeXYZ xyz:MU	+0.0103%	1h	1,030.5	+0.104%	$174.1M	$79.0M	10x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,029.3	−0.012%	$1.5M	$2.3M	20x	as long as short
Bullet MU-USD	+0.0147%	1h	1,030.1	+0.060%	$25K	$388K	10x	as long as short
GRVT MU_USDT_Perp	+0.0198%	8h	1,029.3	−0.013%	$81K	$1.4M	10x	as long as short
Phoenix MU	+0.0231%	1h	1,028.4	−0.100%	$526K	$270K	15x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0265%	1h	1,030.1	+0.063%	$72K	$631K	10x	as long as short