Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0019%/8h= +2.1% APRpaid last 24h +0.010%

Price spread now: Paradex against QFEX−0.081%54s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on QFEX Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.081% cheaper against QFEX than usual: you would sell low and buy high (spread −0.081% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 14 days of funding at the current rate (+$1 a day). The two prices were read 54 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	1,048.4	0.0032	pay 0.0004% / 1h	45m 45s	$7.1M	$17.8M	10x
Short	Paradex MU-USD-PERP	1,047.5	0.0051	get 0.0051% / 8h	3h 45m	$2K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.081%Rate

Funding earned: $4.07
Price spread: −0.081% → 0.000%: −$8.13
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$18.06
Costs to cover: 0.140%
Break-even: 38.0 days

Slippage unknown: QFEX: live order book, 8 min ago; Paradex: no order-book sample. Net counts fees only.

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	0.43 bp	5.9 bp −$6	7.3 bp −$73	12.2 bp −$1,216	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0642%	4h	1,048	−0.035%	$1.3M	$672K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,048.8	+0.039%	$21.3M	$55.8M	20x	as long as short
Bybit MUUSDT	0.0000%	8h	1,048.2	−0.024%	$19.0M	$32.0M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,047.8	−0.060%	$31.2M	$99.6M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,048	−0.039%	$338K	$354K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,048.2	−0.018%	$62.3M	$27.6M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,048.1	−0.029%	$20.5M	$41.3M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,048.6	+0.016%	$2.7M	$2.4M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,048	−0.040%	$82K	$1.4M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,048.4	−0.001%	$190K	$3.4M	20x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX MU-USDT	0.0000%	8h	1,049.5	+0.100%	$11K	$5.8M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,048.1	−0.025%	$130K	$431K	50x	as long as short
Binance MUUSDT	+0.0001%	8h	1,048.1	−0.033%	$125.6M	$517.7M	50x	as long as short
BloFin MU-USDT	+0.0014%	8h	1,048.4	+0.002%	$1.5M	$2.0M	20x	as long as short
Aftermath Perps MUUSD	+0.0024%	1h	1,048.5	+0.008%	$3K	$44K	10x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0027%	1h	1,048.3	−0.011%	$73K	$463K	10x	as long as short
QFEX MU-USDlong	+0.0032%	1h	1,048.4	long leg	$7.1M	$17.8M	10x
Lighter MU	+0.0032%	1h	1,048.1	−0.026%	$1.1M	$5.1M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,048.1	−0.025%	$1.3M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,046.9	−0.141%	$553K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.282%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,048.3	−0.009%	$71K	$233K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,049.5	+0.108%	—	$176K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,047.9	−0.048%	$177.7M	$97.4M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,048.4	0.000%	$170K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,048.5	+0.005%	$688K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,047.4	−0.093%	$1.9M	$2.2M	10x	as long as short
Paradex MU-USD-PERPshort	+0.0051%	8h	1,047.5	−0.081%	$2K	—	5x
Nado MU-PERP	+0.0056%	1h	1,048.1	−0.033%	$282K	$830K	10x	as long as short
Bullet MU-USD	+0.0065%	1h	1,048.8	+0.038%	$26K	$394K	10x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,048.2	−0.015%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,048.2	−0.017%	$148K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,048.3	−0.011%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,047	−0.130%	$71K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,048.6	+0.021%	$834	$799	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0120%	1h	1,050	+0.155%	$757K	$1.2M	10x	as long as short
Phoenix MU	+0.0305%	1h	1,048.5	+0.010%	$536K	$271K	15x	as long as short