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: Gate against QFEX+0.057%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−$31as in the Price arb table

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

Long on QFEX Short on Gate

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−0.059%−$6 · spread now +0.057%, 7d avg +0.018%

Together, before fees−0.081%−$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.039% dearer against QFEX than usual: you sell high and buy low (spread +0.057% now, against its 7-day average of +0.018%): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX MU-USD	1,034.8	0.0023	pay 0.0003% / 1h	25m 13s	$7.0M	$18.1M	10x
Short	Gate MU_USDT	1,035.4	0	get 0.0000% / 8h	2h 25m	$61.4M	$28.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.057%Rate

Funding earned: −$4.87
Price spread: +0.057% → +0.018%: $3.87
Slippage, 4 orders: −$9.79
Fee QFEX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$35.79
Costs to cover: 0.348%
Break-even: never at this rate

Slippage from QFEX: live order book, 4 min ago; Gate: 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	0.68 bp	6.2 bp −$6	6.5 bp −$65	11.9 bp −$1,192	doesn't fit
Sell Gate live order book, 4 min ago	1.06 bp	12.7 bp −$13	19.4 bp −$194	36.6 bp −$3,661	56.8 bp −$28.4K

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	−0.077%	$1.3M	$671K	10x	as long as short
Bitget MUUSDT	−0.0082%	8h	1,036.4	+0.159%	$20.3M	$41.1M	50x	as long as short
Aster MUUSD1	0.0000%	8h	1,035.9	+0.109%	$21.0M	$57.2M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,035.6	+0.083%	$121.7M	$532.3M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,035.8	+0.097%	$18.5M	$32.1M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,035.5	+0.070%	$29.9M	$100.5M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,035.2	+0.037%	$316K	$387K	20x	as long as short
Gate MU_USDTshort	0.0000%	8h	1,035.4	+0.057%	$61.4M	$28.4M	75x
Variational Omni MU	0.0000%	8h	1,034.5	−0.031%	$2.6M	$2.4M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,037	+0.218%	$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	1,034.5	−0.027%	$187K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,036.9	+0.203%	$11K	$5.7M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,035.4	+0.064%	$127K	$448K	50x	as long as short
Aftermath Perps MUUSD	+0.0018%	1h	1,035.2	+0.038%	$3K	$44K	10x	as long as short
QFEX MU-USDlong	+0.0023%	1h	1,034.8	long leg	$7.0M	$18.1M	10x
Nado MU-PERP	+0.0027%	1h	1,034.8	+0.004%	$276K	$819K	10x	as long as short
Bullet MU-USD	+0.0032%	1h	1,035.7	+0.087%	$25K	$389K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,035.8	+0.098%	$1.2M	$4.5M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,035.3	+0.049%	$538K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.602%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,034.7	−0.004%	$70K	$231K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,034.8	+0.004%	—	$175K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,035.3	+0.050%	$175.9M	$93.2M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,035.3	+0.050%	$168K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,034.8	+0.004%	$679K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,035	+0.018%	$1.9M	$2.4M	10x	as long as short
Paradex MU-USD-PERP	+0.0052%	8h	1,035.4	+0.056%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,035.4	+0.060%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,034.8	+0.003%	$147K	$189K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,035	+0.024%	$5.2M	$3.8M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,034.3	−0.050%	$70K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,035	+0.021%	$823	$799	20x	as long as short
Lighter MU	+0.0112%	1h	1,036	+0.118%	$1.0M	$4.9M	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,035.9	+0.103%	$1.5M	$2.0M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0144%	1h	1,035.7	+0.086%	$731K	$1.3M	10x	as long as short
Phoenix MU	+0.0231%	1h	1,035	+0.021%	$529K	$270K	15x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0301%	1h	1,035.7	+0.086%	$73K	$515K	10x	as long as short