Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h +0.002%

Price spread now: Aster against QFEX+0.020%7-day average +0.042% · 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−$24as in the Price arb table

costs, in and out, $10k−$220.222% of the position

Long on QFEX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.007%+$1 on $10k

Price spread, last 7 days−0.015%−$2 · spread now +0.020%, 7d avg +0.042%

Together, before fees−0.008%+ Points / potential airdropAster: Stage 5 · farm board−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Aster is 0.022% cheaper against QFEX than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.042%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX MU-USD	1,045	0.0032	pay 0.0004% / 1h	15m 06s	$7.0M	$18.0M	10x
Short	Aster MUUSD1	1,045.2	0	get 0.0000% / 8h	3h 15m	$21.2M	$56.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster 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 AsterbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$6.62
Price spread: +0.020% → +0.042%: −$2.21
Slippage, 4 orders: −$4.24
Fee QFEX: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$31.07
Costs to cover: 0.222%
Break-even: never at this rate

Slippage from QFEX: live order book, 4 min ago; Aster: live order book, 4 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, 4 min ago	1.10 bp	6.8 bp −$7	7.8 bp −$78	12.1 bp −$1,213	doesn't fit
Sell Aster live order book, 4 min ago	0.05 bp	4.0 bp −$4	23.8 bp −$238	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	−0.0649%	4h	1,044.1	−0.079%	$1.3M	$673K	10x	as long as short
Aster MUUSD1short	0.0000%	8h	1,045.2	+0.020%	$21.2M	$56.6M	20x
Binance MUUSDT	0.0000%	8h	1,044.9	−0.001%	$123.9M	$523.2M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,045.2	+0.027%	$18.7M	$31.8M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,044.9	−0.002%	$30.9M	$99.6M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,045.1	+0.018%	$337K	$353K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,044.8	−0.012%	$62.1M	$27.9M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,045.1	+0.018%	$20.5M	$41.6M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,045.2	+0.019%	$2.7M	$2.4M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,045.3	+0.038%	$83K	$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	1,045	+0.007%	$189K	$3.4M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,047.4	+0.238%	$11K	$5.8M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,044.8	−0.015%	$130K	$434K	50x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0018%	1h	1,044.8	−0.016%	$73K	$482K	10x	as long as short
Aftermath Perps MUUSD	+0.0022%	1h	1,044.7	−0.027%	$3K	$44K	10x	as long as short
QFEX MU-USDlong	+0.0032%	1h	1,045	long leg	$7.0M	$18.0M	10x
Lighter MU	+0.0032%	1h	1,044.9	−0.004%	$1.1M	$5.1M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,044.7	−0.020%	$1.3M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,044.5	−0.044%	$548K	$1.1M	10x	as long as short
Nado MU-PERP	+0.0033%	1h	1,044.6	−0.035%	$282K	$830K	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.613%	$19K	$5K	12x	as long as short
Bullet MU-USD	+0.0040%	1h	1,045.4	+0.040%	$26K	$392K	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,044.4	−0.056%	$70K	$232K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,045.7	+0.072%	—	$176K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,044.8	−0.014%	$176.7M	$95.5M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,045	+0.005%	$170K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,044.8	−0.016%	$686K	$16K	10x	as long as short
Paradex MU-USD-PERP	+0.0050%	8h	1,045.1	+0.019%	$2K	—	5x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,043.2	−0.165%	$1.9M	$2.2M	10x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,044.8	−0.015%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,044.7	−0.023%	$147K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,044.6	−0.034%	$5.2M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,045.6	+0.062%	$71K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,045	+0.003%	$831	$799	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0120%	1h	1,044.6	−0.033%	$749K	$1.2M	10x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,044.9	−0.003%	$1.5M	$2.0M	20x	as long as short
Phoenix MU	+0.0305%	1h	1,044.2	−0.072%	$534K	$271K	15x	as long as short