Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0534%/8h= −58.4% APRpaid last 24h +0.031%

Price spread now: edgeX against QFEX−0.003%7-day average +0.011% · 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−$24as in the Price arb table

costs, in and out, $10k−$230.226% of the position

Long on QFEX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.324%+$32 on $10k

Price spread, last 7 days+0.007%+$1 · spread now −0.003%, 7d avg +0.011%

Together, before fees+0.331%+ Points / potential airdropedgeX: Active · farm board+$33 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.011%, so right now this pair is about funding alone: −$16 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair paid +0.324%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX MU-USD	1,050.5	0.0030	pay 0.0004% / 1h	51m 02s	$7.3M	$18.5M	10x
Short	edgeX MUUSDC	1,050.4	−0.0504	pay 0.0252% / 4h	1h 51m	$1.3M	$671K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.003%Rate

Funding earned: −$112.04
Price spread: −0.003% → +0.011%: −$1.35
Slippage, 4 orders: −$3.63
Fee QFEX: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$136.01
Costs to cover: 0.226%
Break-even: never at this rate

Slippage from QFEX: live order book, 13 min ago; edgeX: live order book, 3 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, 13 min ago	1.19 bp	6.2 bp −$6	6.2 bp −$62	10.9 bp −$1,095	doesn't fit
Sell edgeX live order book, 3 min ago	0.38 bp	5.0 bp −$5	7.1 bp −$71	28.3 bp −$2,831	doesn't fit

MU on 36 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 MUUSDCshort	−0.0504%	4h	1,050.4	−0.003%	$1.3M	$671K	10x
RISEx MU/USDC	0.0000%	1h	1,050.7	+0.028%	$333K	$349K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,050.6	+0.014%	$62.1M	$27.4M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,050.1	−0.037%	$190K	$3.4M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,052.2	+0.165%	$11K	$5.9M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,050.4	−0.009%	$129K	$427K	50x	as long as short
Aftermath Perps MUUSD	+0.0019%	1h	1,050.3	−0.012%	$3K	$45K	10x	as long as short
GRVT MU_USDT_Perp	+0.0021%	8h	1,050.7	+0.024%	$79K	$1.3M	10x	as long as short
Bybit MUUSDT	+0.0021%	8h	1,050.7	+0.028%	$19.2M	$32.4M	100x	as long as short
QFEX MU-USDlong	+0.0030%	1h	1,050.5	long leg	$7.3M	$18.5M	10x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH MU	+0.0032%	1h	1,050.5	0.000%	$1.2M	$4.2M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,049.8	−0.063%	$564K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.087%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,050.3	−0.016%	$71K	$235K	10x	as long as short
OKX MU-USDT-SWAP	+0.0043%	8h	1,050.8	+0.033%	$31.0M	$100.2M	50x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,051.2	+0.069%	—	$175K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,050.3	−0.014%	$170K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,050.5	+0.006%	$689K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,050	−0.044%	$1.9M	$2.3M	10x	as long as short
Paradex MU-USD-PERP	+0.0060%	8h	1,050.6	+0.014%	$2K	—	5x	as long as short
Coinbase International MU-PERP-INTX	+0.0096%	1h	1,049.9	−0.049%	$756K	$1.2M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,050.6	+0.013%	$149K	$187K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,050.4	−0.005%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,050.8	+0.033%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050.6	+0.013%	$835	$799	20x	as long as short
Lighter MU	+0.0112%	1h	1,050.5	+0.008%	$1.1M	$4.8M	20x	as long as short
Aster MUUSD1	+0.0112%	8h	1,050.4	−0.006%	$21.5M	$52.1M	20x	as long as short
Nado MU-PERP	+0.0115%	1h	1,049.9	−0.054%	$280K	$850K	10x	as long as short
Aevo MU-PERP	+0.0120%	1h	1,050.2	−0.022%	$32K	$1K	10x	as long as short
tradeXYZ xyz:MU	+0.0140%	1h	1,050.4	−0.005%	$178.3M	$99.2M	10x	as long as short
Variational Omni MU	+0.0144%	8h	1,050.4	−0.001%	$2.7M	$2.3M	—	as long as short
Bullet MU-USD	+0.0164%	1h	1,050.6	+0.012%	$26K	$397K	10x	as long as short
Binance MUUSDT	+0.0166%	8h	1,050.7	+0.021%	$126.6M	$520.1M	50x	as long as short
Bitget MUUSDT	+0.0170%	8h	1,050.5	+0.006%	$20.6M	$41.2M	50x	as long as short
Phoenix MU	+0.0229%	1h	1,050.7	+0.024%	$537K	$271K	15x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0255%	1h	1,050.4	−0.008%	$66K	$354K	10x	as long as short