Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h +0.009%

Price spread now: Variational Omni against QFEX+0.150%7-day average +0.041% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on QFEX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.039%+$4 on $10k

Price spread, last 7 days−0.131%−$13 · spread now +0.150%, 7d avg +0.041%

Together, before fees−0.092%+ Points / potential airdropVariational Omni: Active · farm board−$9 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.109% dearer against QFEX than usual: you sell high and buy low (spread +0.150% now, against its 7-day average of +0.041%): +$11 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX MU-USD	1,037.2	0.0032	pay 0.0004% / 1h	50m 57s	$7.0M	$18.4M	10x
Short	Variational Omni MU	1,038.8	0	get 0.0000% / 8h	1h 50m	$2.5M	$2.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.150%Rate

Funding earned: −$6.74
Price spread: +0.150% → +0.041%: $10.91
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$5.83
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: QFEX: live order book, 8 min ago; Variational Omni: RFQ quote, 3 min ago. Net counts fees only.

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, 8 min ago	0.72 bp	6.1 bp −$6	6.1 bp −$61	12.1 bp −$1,208	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	1.88 bp	doesn't fit	4.5 bp −$45	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	−0.0643%	4h	1,038	+0.079%	$1.3M	$672K	10x	as long as short
Bitget MUUSDT	−0.0090%	8h	1,038	+0.074%	$20.2M	$41.4M	50x	as long as short
Aster MUUSD1	0.0000%	8h	1,037.8	+0.062%	$21.1M	$57.5M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,037.9	+0.066%	$121.7M	$536.9M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,037.9	+0.070%	$18.6M	$32.2M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,037.8	+0.055%	$29.9M	$101.4M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,037.5	+0.030%	$315K	$384K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,037.5	+0.030%	$61.4M	$28.3M	75x	as long as short
Variational Omni MUshort	0.0000%	8h	1,038.8	+0.150%	$2.5M	$2.6M	—
GRVT MU_USDT_Perp	0.0000%	8h	1,038.3	+0.107%	$84K	$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	1,037.5	+0.029%	$188K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,039	+0.170%	$11K	$5.6M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,037.4	+0.023%	$128K	$441K	50x	as long as short
Aftermath Perps MUUSD	+0.0019%	1h	1,038.2	+0.093%	$3K	$44K	10x	as long as short
Bullet MU-USD	+0.0019%	1h	1,037.7	+0.045%	$26K	$390K	10x	as long as short
Nado MU-PERP	+0.0022%	1h	1,037.1	−0.013%	$276K	$816K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,037.5	+0.029%	$1.2M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,037.1	−0.014%	$544K	$1.1M	10x	as long as short
QFEX MU-USDlong	+0.0032%	1h	1,037.2	long leg	$7.0M	$18.4M	10x
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.365%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,037.8	+0.061%	$70K	$230K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,037.3	+0.013%	—	$175K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,037.3	+0.010%	$176.3M	$89.2M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,037.3	+0.010%	$168K	$196K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,037.3	+0.009%	$681K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,037.1	−0.014%	$1.9M	$2.6M	10x	as long as short
Paradex MU-USD-PERP	+0.0053%	8h	1,037.6	+0.038%	$2K	—	5x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0068%	1h	1,037.5	+0.026%	$74K	$545K	10x	as long as short
Lighter MU	+0.0080%	1h	1,037.6	+0.041%	$1.1M	$4.9M	20x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,037.3	+0.009%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,037.2	−0.005%	$147K	$190K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,037.3	+0.009%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,037.7	+0.049%	$70K	$270K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,037.5	+0.025%	$825	$799	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0104%	1h	1,037.6	+0.037%	$732K	$1.3M	10x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,038	+0.078%	$1.5M	$2.1M	20x	as long as short
Phoenix MU	+0.0231%	1h	1,037.4	+0.019%	$531K	$270K	15x	as long as short