Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0058%/8h= +6.3% APRpaid last 24h +0.013%

Price spread now: QFEX against SunX−0.162%7-day average −0.157% · 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−$71as in the Price arb table

costs, in and out, $10k−$710.709% of the position

Long on SunX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.024%+$2 on $10k

Price spread, last 4 days (all we have)+0.117%+$12 · spread now −0.162%, 7d avg −0.157%

Together, before fees+0.141%+$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.157%, 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	SunX MU-USDT	1,040.1	0	get 0.0000% / 8h	5h 28m	$11K	$5.0M	10x
Short	QFEX MU-USD	1,038.4	0.0058	get 0.0007% / 1h	28m 14s	$7.0M	$19.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against SunX. 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 SunXbpFee QFEXbpOrdersPrice spread, now −0.162%Rate

Funding earned: $12.1
Price spread: −0.162% → −0.157%: −$0.58
Slippage, 4 orders: −$52.92
Fee SunX: 4 bp × 2 orders: −$8
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$59.39
Costs to cover: 0.709%
Break-even: 41.4 days

Slippage from SunX: live order book, 4 min ago; QFEX: live order book, 9 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 SunX live order book, 4 min ago	21.56 bp	25.6 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 9 min ago	0.63 bp	7.2 bp −$7	8.0 bp −$80	12.0 bp −$1,197	doesn't fit

MU on 37 exchanges

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	−0.0957%	4h	1,038	−0.194%	$1.3M	$696K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,038.4	−0.156%	$21.2M	$73.6M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,038.6	−0.138%	$121.8M	$555.5M	50x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,038.3	−0.166%	$29.7M	$107.0M	50x	as long as short
Gate MU_USDT	0.0000%	8h	1,038.3	−0.173%	$61.3M	$28.1M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,038.5	−0.149%	$19.8M	$43.7M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,038.4	−0.156%	$2.6M	$2.5M	—	as long as short
StandX MU-USD	0.0000%	1h	1,037.9	−0.212%	$188K	$3.7M	20x	as long as short
SunX MU-USDTlong	0.0000%	8h	1,040.1	long leg	$11K	$5.0M	10x
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,037.9	−0.210%	$33K	$732K	10x	as long as short

Show all 37 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX MU-USDT	0.0000%	8h	1,038.2	−0.177%	$119K	$473K	50x	as long as short
Lighter RH MU	+0.0032%	1h	1,038.6	−0.140%	$1.1M	$4.5M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.086%	$19K	$5K	12x	as long as short
Aftermath Perps MUUSD	+0.0036%	1h	1,038.3	−0.166%	$3K	$41K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,039.4	−0.061%	—	$177K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,038.2	−0.179%	$169K	$167K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,038.3	−0.167%	$683K	$14K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,036.7	−0.326%	$1.9M	$3.2M	10x	as long as short
QFEX MU-USDshort	+0.0058%	1h	1,038.4	−0.162%	$7.0M	$19.4M	10x
Bybit MUUSDT	+0.0074%	8h	1,038.6	−0.138%	$18.8M	$32.4M	100x	as long as short
Paradex MU-USD-PERP	+0.0075%	8h	1,038.5	−0.151%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,037.9	−0.203%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,037.8	−0.219%	$151K	$228K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,038	−0.201%	$5.2M	$6.2M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,038.6	−0.140%	$70K	$270K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,038.1	−0.189%	$825	$799	20x	as long as short
GRVT MU_USDT_Perp	+0.0116%	8h	1,038.7	−0.134%	$84K	$1.4M	10x	as long as short
RISEx MU/USDC	+0.0118%	1h	1,038.4	−0.161%	$299K	$339K	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,038.6	−0.143%	$1.5M	$2.6M	20x	as long as short
Nado MU-PERP	+0.0131%	1h	1,037.9	−0.211%	$276K	$839K	10x	as long as short
Arcus MU-USD	+0.0139%	1h	1,037.7	−0.228%	$90K	$140K	10x	as long as short
Lighter MU	+0.0160%	1h	1,038.7	−0.136%	$1.0M	$5.0M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0192%	1h	1,038	−0.202%	$726K	$1.2M	10x	as long as short
Bullet MU-USD	+0.0222%	1h	1,038.6	−0.140%	$25K	$383K	10x	as long as short
tradeXYZ xyz:MU	+0.0222%	1h	1,038.1	−0.188%	$177.2M	$75.5M	10x	as long as short
Extended MU_24_5-USD	+0.0248%	1h	1,037.6	−0.237%	$546K	$1.1M	10x	as long as short
Phoenix MU	+0.0308%	1h	1,038.5	−0.150%	$531K	$159K	15x	as long as short