Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0029%/8h= +3.2% APRpaid last 24h +0.001%

Price spread now: Bitget against QFEX+0.013%56s7-day average +0.055% · 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—prices read too far apart to compare

costs, in and out, $10k−$280.283% of the position

Long on QFEX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.015%+$2 on $10k

Price spread, last 7 days+0.020%+$2 · spread now +0.013%, 7d avg +0.055%

Together, before fees+0.036%+$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.042% cheaper against QFEX than usual: you would sell low and buy high (spread +0.013% now, against its 7-day average of +0.055%). If the spread goes back, that is −$4 on $10k: about 4.8 days of funding at the current rate (+$1 a day). The two prices were read 56 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	1,044	0.0071	pay 0.0009% / 1h	23m 40s	$7.8M	$24.2M	10x
Short	Bitget MUUSDT	1,044.1	0.0100	get 0.0100% / 8h	1h 23m	$20.4M	$43.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.013%Rate

Funding earned: $6.15
Price spread: +0.013% → +0.055%: −$4.18
Slippage, 4 orders: −$6.25
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$26.29
Costs to cover: 0.283%
Break-even: 36.9 days

Slippage from QFEX: live order book, 6 min ago; Bitget: 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	0.72 bp	7.4 bp −$7	7.7 bp −$77	11.1 bp −$1,108	doesn't fit
Sell Bitget live order book, 5 min ago	0.05 bp	7.9 bp −$8	9.7 bp −$97	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	−0.0856%	4h	1,044.1	+0.010%	$1.3M	$671K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,044	+0.006%	$62.9M	$29.0M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,043.4	−0.051%	$189K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,046.6	+0.249%	$11K	$6.6M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,044	−0.001%	$125K	$441K	50x	as long as short
OKX MU-USDT-SWAP	+0.0030%	8h	1,044.1	+0.009%	$30.8M	$104.9M	50x	as long as short
Aftermath Perps MUUSD	+0.0031%	1h	1,044	+0.002%	$3K	$45K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,043.8	−0.013%	$1.2M	$4.2M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.647%	$14K	$302	12x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,043.8	−0.019%	—	$194K	25x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps MU-USD	+0.0050%	1h	1,044	+0.004%	$165K	$192K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,044.2	+0.019%	$685K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,043.1	−0.087%	$2.0M	$2.7M	10x	as long as short
QFEX MU-USDlong	+0.0071%	1h	1,044	long leg	$7.8M	$24.2M	10x
Aster MUUSD1	+0.0081%	8h	1,044.7	+0.073%	$21.5M	$47.4M	20x	as long as short
Pacifica MU	+0.0100%	1h	1,043.6	−0.036%	$154K	$181K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,043.5	−0.040%	$5.2M	$4.0M	20x	as long as short
Bitget MUUSDTshort	+0.0100%	8h	1,044.1	+0.013%	$20.4M	$43.0M	50x
ApeX Omni MUUSDT	+0.0100%	1h	1,044	+0.006%	$71K	$266K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,044.4	+0.039%	$830	$799	20x	as long as short
Aevo MU-PERP	+0.0120%	1h	1,044	+0.006%	$33K	—	10x	as long as short
Paradex MU-USD-PERP	+0.0133%	8h	1,043.9	−0.003%	$2K	—	5x	as long as short
Variational Omni MU	+0.0135%	8h	1,044.2	+0.022%	$2.6M	$2.7M	—	as long as short
Binance MUUSDT	+0.0157%	8h	1,044.2	+0.024%	$124.9M	$535.9M	50x	as long as short
Coinbase International MU-PERP-INTX	+0.0184%	1h	1,043.9	−0.006%	$756K	$1.4M	10x	as long as short
Lighter MU	+0.0192%	1h	1,044	+0.002%	$1.0M	$4.8M	20x	as long as short
GRVT MU_USDT_Perp	+0.0210%	8h	1,044.6	+0.057%	$82K	$1.4M	10x	as long as short
Nado MU-PERP	+0.0210%	1h	1,043.2	−0.069%	$266K	$868K	10x	as long as short
Bybit MUUSDT	+0.0240%	8h	1,044.3	+0.036%	$19.2M	$32.6M	100x	as long as short
Bullet MU-USD	+0.0267%	1h	1,044.3	+0.032%	$26K	$398K	10x	as long as short
BloFin MU-USDT	+0.0273%	8h	1,044.6	+0.063%	$1.4M	$2.0M	20x	as long as short
tradeXYZ xyz:MU	+0.0324%	1h	1,043.8	−0.015%	$176.3M	$106.7M	10x	as long as short
Phoenix MU	+0.0383%	1h	1,044.4	+0.042%	$534K	$306K	15x	as long as short
Arcus MU-USD	+0.0435%	1h	1,043.6	−0.034%	$73K	$241K	10x	as long as short
RISEx MU/USDC	+0.0499%	1h	1,044.5	+0.050%	$295K	$338K	20x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0642%	1h	1,044.1	+0.011%	$61K	$247K	10x	as long as short
Extended MU_24_5-USD	+0.0664%	1h	1,043	−0.090%	$541K	$1.1M	10x	as long as short