Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0066%/8h= +7.2% APRpaid last 24h +0.015%

Price spread now: KuCoin against QFEX+0.018%7-day average +0.003% · 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−$42as in the Price arb table

costs, in and out, $10k−$430.432% of the position

Long on QFEX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.049%+$5 on $10k

Price spread, last 7 days+0.009%+$1 · spread now +0.018%, 7d avg +0.003%

Together, before fees+0.058%+$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.003%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX MU-USD	1,051.5	0.0034	pay 0.0004% / 1h	13m 05s	$7.1M	$17.9M	10x
Short	KuCoin MUUSDTM	1,051.7	0.0100	get 0.0100% / 8h	4h 13m	$5.3M	$3.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.018%Rate

Funding earned: $13.76
Price spread: +0.018% → +0.003%: $1.55
Slippage, 4 orders: −$21.17
Fee QFEX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$27.86
Costs to cover: 0.432%
Break-even: 21.2 days

Slippage from QFEX: live order book, 6 min ago; KuCoin: live order book, 5 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	0.67 bp	6.3 bp −$6	6.3 bp −$63	11.1 bp −$1,111	doesn't fit
Sell KuCoin live order book, 5 min ago	3.18 bp	15.1 bp −$15	25.6 bp −$256	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	−0.0084%	4h	1,051.4	−0.007%	$1.3M	$673K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,052.2	+0.070%	$21.4M	$55.0M	20x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,051.9	+0.033%	$31.2M	$99.6M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,051.9	+0.038%	$341K	$354K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,051.7	+0.021%	$62.3M	$27.5M	75x	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,051.7	+0.016%	$81K	$1.4M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,051.2	−0.031%	$190K	$3.4M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,051.8	+0.030%	$11K	$5.8M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,051.7	+0.022%	$72K	$442K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,051.6	+0.006%	$131K	$435K	50x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MU	+0.0003%	8h	1,051.8	+0.025%	$2.7M	$2.4M	—	as long as short
Aftermath Perps MUUSD	+0.0022%	1h	1,051.8	+0.028%	$3K	$44K	10x	as long as short
Bybit MUUSDT	+0.0023%	8h	1,052.1	+0.054%	$19.1M	$32.3M	100x	as long as short
Lighter RH MU	+0.0032%	1h	1,051.7	+0.022%	$1.3M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,051.3	−0.021%	$566K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	−0.014%	$19K	$5K	12x	as long as short
QFEX MU-USDlong	+0.0034%	1h	1,051.5	long leg	$7.1M	$17.9M	10x
Arcus MU-USD	+0.0040%	1h	1,051.6	+0.008%	$71K	$234K	10x	as long as short
Binance MUUSDT	+0.0041%	8h	1,051.8	+0.030%	$126.6M	$516.6M	50x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,052.8	+0.119%	—	$176K	25x	as long as short
Nado MU-PERP	+0.0048%	1h	1,051.1	−0.034%	$282K	$837K	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,051.6	+0.009%	$171K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,051.6	+0.010%	$690K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,050.9	−0.055%	$1.9M	$2.2M	10x	as long as short
Paradex MU-USD-PERP	+0.0051%	8h	1,051.7	+0.015%	$2K	—	5x	as long as short
Bullet MU-USD	+0.0052%	1h	1,051.9	+0.036%	$25K	$395K	10x	as long as short
Lighter MU	+0.0056%	1h	1,051.9	+0.033%	$1.1M	$5.1M	20x	as long as short
Bitget MUUSDT	+0.0073%	8h	1,051.9	+0.037%	$20.5M	$41.1M	50x	as long as short
tradeXYZ xyz:MU	+0.0073%	1h	1,051.5	−0.001%	$178.7M	$99.0M	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0080%	1h	1,052.9	+0.131%	$759K	$1.2M	10x	as long as short
Aevo MU-PERP	+0.0088%	1h	1,051.4	−0.010%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,051.6	+0.008%	$148K	$185K	10x	as long as short
KuCoin MUUSDTMshort	+0.0100%	8h	1,051.7	+0.018%	$5.3M	$3.4M	20x
ApeX Omni MUUSDT	+0.0100%	1h	1,051	−0.047%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,051.9	+0.036%	$836	$799	20x	as long as short
BloFin MU-USDT	+0.0161%	8h	1,051.9	+0.035%	$1.5M	$2.0M	20x	as long as short
Phoenix MU	+0.0304%	1h	1,052.5	+0.094%	$538K	$271K	15x	as long as short