Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0023%/8h= +2.5% APRpaid last 24h +0.014%

Price spread now: QFEX against Gate+0.007%7-day average −0.018% · 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−$32as in the Price arb table

costs, in and out, $10k−$350.348% of the position

Long on Gate Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.022%+$2 on $10k

Price spread, last 7 days−0.005%$0 · spread now +0.007%, 7d avg −0.018%

Together, before fees+0.018%+$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and QFEX is 0.025% dearer against Gate than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MU_USDT	1,035.6	0	get 0.0000% / 8h	2h 24m	$61.4M	$28.4M	75x
Short	QFEX MU-USD	1,035.7	0.0023	get 0.0003% / 1h	24m 35s	$7.0M	$18.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Gate. 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 GatebpFee QFEXbpOrdersPrice spread, now +0.007%Rate

Funding earned: $4.87
Price spread: +0.007% → −0.018%: $2.51
Slippage, 4 orders: −$9.79
Fee Gate: 7.5 bp × 2 orders: −$15
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$27.41
Costs to cover: 0.348%
Break-even: 46.4 days

Slippage from Gate: live order book, 4 min ago; QFEX: 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 Gate live order book, 4 min ago	1.06 bp	10.2 bp −$10	17.9 bp −$179	39.9 bp −$3,990	78.9 bp −$39.5K
Sell QFEX live order book, 5 min ago	0.68 bp	5.7 bp −$6	5.7 bp −$57	11.6 bp −$1,163	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	−0.0386%	4h	1,034	−0.154%	$1.3M	$671K	10x	as long as short
Bitget MUUSDT	−0.0097%	8h	1,036.4	+0.076%	$20.3M	$41.1M	50x	as long as short
Aster MUUSD1	0.0000%	8h	1,035.9	+0.029%	$21.0M	$57.2M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,035.9	+0.031%	$121.7M	$532.4M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,036.1	+0.049%	$18.5M	$32.1M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,036.2	+0.059%	$29.9M	$100.5M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,035.7	+0.014%	$316K	$387K	20x	as long as short
Gate MU_USDTlong	0.0000%	8h	1,035.6	long leg	$61.4M	$28.4M	75x
Variational Omni MU	0.0000%	8h	1,034.5	−0.108%	$2.6M	$2.4M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,037	+0.140%	$75K	$1.4M	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX MU-USD	0.0000%	1h	1,035.4	−0.015%	$187K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,036.9	+0.126%	$11K	$5.7M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,035.4	−0.014%	$127K	$448K	50x	as long as short
Aftermath Perps MUUSD	+0.0018%	1h	1,035.2	−0.039%	$3K	$44K	10x	as long as short
QFEX MU-USDshort	+0.0023%	1h	1,035.7	+0.007%	$7.0M	$18.1M	10x
Nado MU-PERP	+0.0027%	1h	1,035.3	−0.029%	$276K	$819K	10x	as long as short
Bullet MU-USD	+0.0032%	1h	1,035.7	+0.010%	$25K	$389K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,035.4	−0.014%	$1.2M	$4.5M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,035	−0.055%	$538K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.524%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,034.9	−0.064%	$70K	$231K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,035.3	−0.027%	—	$175K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,035.2	−0.037%	$175.9M	$91.6M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,035.4	−0.017%	$168K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,034.8	−0.073%	$679K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,035.3	−0.025%	$1.9M	$2.4M	10x	as long as short
Paradex MU-USD-PERP	+0.0052%	8h	1,035.7	+0.013%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,035.4	−0.017%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,035.2	−0.037%	$147K	$189K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,034.9	−0.067%	$5.2M	$3.8M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,034.3	−0.127%	$70K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,035	−0.056%	$823	$799	20x	as long as short
Lighter MU	+0.0112%	1h	1,035.3	−0.031%	$1.0M	$4.9M	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,035.9	+0.026%	$1.5M	$2.0M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0144%	1h	1,035.7	+0.009%	$731K	$1.3M	10x	as long as short
Phoenix MU	+0.0231%	1h	1,035	−0.056%	$529K	$270K	15x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0301%	1h	1,035.7	+0.009%	$73K	$515K	10x	as long as short