Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0040%/8h= +4.3% APRpaid last 24h +0.015%

Price spread now: QFEX against Gate0.000%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−$34as in the Price arb table

costs, in and out, $10k−$360.361% of the position

Long on Gate Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.021%+$2 on $10k

Price spread, last 7 days+0.010%+$1 · spread now 0.000%, 7d avg −0.018%

Together, before fees+0.030%+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.018%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MU_USDT	1,049.8	0	get 0.0000% / 8h	6h 15m	$62.0M	$27.7M	75x
Short	QFEX MU-USD	1,049.8	0.0040	get 0.0005% / 1h	15m 46s	$7.4M	$19.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Gate. 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 GatebpFee QFEXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $8.33
Price spread: 0.000% → −0.018%: $1.81
Slippage, 4 orders: −$11.05
Fee Gate: 7.5 bp × 2 orders: −$15
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$25.91
Costs to cover: 0.361%
Break-even: 28.8 days

Slippage from Gate: live order book, 3 min ago; QFEX: 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 Gate live order book, 3 min ago	1.29 bp	11.3 bp −$11	16.7 bp −$167	41.4 bp −$4,138	75.1 bp −$37.6K
Sell QFEX live order book, 3 min ago	0.24 bp	5.8 bp −$6	6.7 bp −$67	10.5 bp −$1,051	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 MUUSDC	−0.0876%	4h	1,049.5	−0.028%	$1.3M	$672K	10x	as long as short
Nado MU-PERP	−0.0006%	1h	1,049.5	−0.029%	$277K	$854K	10x	as long as short
Bybit MUUSDT	0.0000%	8h	1,050	+0.025%	$19.2M	$32.6M	100x	as long as short
Gate MU_USDTlong	0.0000%	8h	1,049.8	long leg	$62.0M	$27.7M	75x
StandX MU-USD	0.0000%	1h	1,049.6	−0.017%	$190K	$3.4M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,050	+0.017%	$25K	$394K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,051.1	+0.126%	$11K	$6.0M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,049.6	−0.017%	$66K	$340K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,049.9	+0.009%	$129K	$425K	50x	as long as short
Aftermath Perps MUUSD	+0.0017%	1h	1,049.6	−0.022%	$3K	$45K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MU	+0.0032%	1h	1,049.9	+0.009%	$1.1M	$4.8M	20x	as long as short
Lighter RH MU	+0.0032%	1h	1,049.8	+0.004%	$1.1M	$4.2M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,049.3	−0.050%	$567K	$1.1M	10x	as long as short
QFEX MU-USDshort	+0.0040%	1h	1,049.8	0.000%	$7.4M	$19.3M	10x
Arcus MU-USD	+0.0040%	1h	1,049.7	−0.012%	$71K	$236K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,050.7	+0.089%	—	$177K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,049.7	−0.008%	$178.2M	$99.6M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,049.6	−0.017%	$170K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,049.5	−0.024%	$689K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,048.8	−0.091%	$1.9M	$2.3M	10x	as long as short
OKX MU-USDT-SWAP	+0.0051%	8h	1,050.1	+0.033%	$30.8M	$100.5M	50x	as long as short
GRVT MU_USDT_Perp	+0.0056%	8h	1,049.8	+0.003%	$81K	$1.3M	10x	as long as short
Paradex MU-USD-PERP	+0.0061%	8h	1,050	+0.022%	$2K	—	5x	as long as short
Pacifica MU	+0.0100%	1h	1,049.5	−0.024%	$148K	$187K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,049.7	−0.008%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,049.9	+0.008%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,049.9	+0.007%	$835	$799	20x	as long as short
Injective MU/USDC PERP	+0.0107%	1h	1,051.4	+0.151%	$19K	$5K	12x	as long as short
Aevo MU-PERP	+0.0128%	1h	1,049.6	−0.017%	$32K	$1K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0128%	1h	1,050.3	+0.048%	$757K	$1.2M	10x	as long as short
Aster MUUSD1	+0.0149%	8h	1,050	+0.024%	$21.6M	$51.7M	20x	as long as short
Variational Omni MU	+0.0171%	8h	1,049.8	+0.002%	$2.7M	$2.4M	—	as long as short
Binance MUUSDT	+0.0190%	8h	1,050	+0.022%	$126.4M	$523.2M	50x	as long as short
Bitget MUUSDT	+0.0227%	8h	1,050.1	+0.030%	$20.6M	$41.9M	50x	as long as short
Phoenix MU	+0.0304%	1h	1,050.3	+0.050%	$537K	$273K	15x	as long as short
RISEx MU/USDC	+0.0507%	1h	1,050.2	+0.036%	$334K	$348K	20x	as long as short