Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0302%/8h= +33.1% APRpaid last 24h +0.051%

Price spread now: BloFin against QFEX+0.069%7-day average +0.025% · 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−$21as in the Price arb table

costs, in and out, $10k−$260.259% of the position

Long on QFEX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.181%+$18 on $10k

Price spread, last 3 days (all we have)−0.104%−$10 · spread now +0.069%, 7d avg +0.025%

Together, before fees+0.078%+$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and BloFin is 0.044% dearer against QFEX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX MU-USD	1,050.4	0.0054	pay 0.0007% / 1h	22m 50s	$7.7M	$22.0M	10x
Short	BloFin MU-USDT	1,051.1	0.0356	get 0.0356% / 8h	7h 22m	$1.5M	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.069%Rate

Funding earned: $63.46
Price spread: +0.069% → +0.025%: $4.43
Slippage, 4 orders: −$3.88
Fee QFEX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $42.02
Costs to cover: 0.259%
Break-even: 2.4 days

Slippage from QFEX: live order book, 6 min ago; BloFin: 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	0.90 bp	5.9 bp −$6	8.1 bp −$81	12.5 bp −$1,246	doesn't fit
Sell BloFin live order book, 5 min ago	0.05 bp	6.1 bp −$6	7.0 bp −$70	13.5 bp −$1,345	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	−0.0040%	4h	1,051.4	+0.097%	$1.3M	$672K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,051	+0.057%	$62.8M	$28.9M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,050.3	−0.004%	$190K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,052.1	+0.167%	$11K	$6.2M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,050.4	+0.004%	$129K	$424K	50x	as long as short
Aftermath Perps MUUSD	+0.0022%	1h	1,050.5	+0.011%	$3K	$45K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,051	+0.063%	$1.2M	$4.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.094%	$19K	$5K	12x	as long as short
Lighter MU	+0.0040%	1h	1,051.4	+0.094%	$1.1M	$4.8M	20x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,051.3	+0.085%	—	$179K	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	1,050.3	−0.007%	$171K	$203K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,049.5	−0.084%	$1.9M	$2.3M	10x	as long as short
QFEX MU-USDlong	+0.0054%	1h	1,050.4	long leg	$7.7M	$22.0M	10x
Nado MU-PERP	+0.0085%	1h	1,049.9	−0.049%	$274K	$858K	10x	as long as short
Paradex MU-USD-PERP	+0.0091%	8h	1,050.2	−0.019%	$2K	—	5x	as long as short
Pacifica MU	+0.0100%	1h	1,050.3	−0.003%	$148K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,050.4	−0.001%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,052	+0.151%	$71K	$267K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050.9	+0.054%	$835	$799	20x	as long as short
OKX MU-USDT-SWAP	+0.0105%	8h	1,051.5	+0.105%	$30.9M	$101.8M	50x	as long as short
SoDEX MU-USD	+0.0106%	1h	1,050.7	+0.030%	$690K	$16K	10x	as long as short
Aevo MU-PERP	+0.0136%	1h	1,050.6	+0.022%	$32K	$1K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0184%	1h	1,048.4	−0.191%	$759K	$1.2M	10x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0188%	1h	1,050.8	+0.044%	$64K	$305K	10x	as long as short
Bybit MUUSDT	+0.0208%	8h	1,051.6	+0.119%	$19.5M	$32.7M	100x	as long as short
Bullet MU-USD	+0.0217%	1h	1,051	+0.060%	$26K	$395K	10x	as long as short
Variational Omni MU	+0.0224%	8h	1,051.7	+0.122%	$2.7M	$2.4M	—	as long as short
Aster MUUSD1	+0.0238%	8h	1,050.5	+0.013%	$21.6M	$48.3M	20x	as long as short
Binance MUUSDT	+0.0238%	8h	1,051.3	+0.091%	$126.1M	$522.6M	50x	as long as short
Arcus MU-USD	+0.0240%	1h	1,050.8	+0.036%	$71K	$243K	10x	as long as short
tradeXYZ xyz:MU	+0.0244%	1h	1,051.1	+0.069%	$178.4M	$100.3M	10x	as long as short
RISEx MU/USDC	+0.0312%	1h	1,050.5	+0.009%	$316K	$339K	20x	as long as short
BloFin MU-USDTshort	+0.0356%	8h	1,051.1	+0.069%	$1.5M	$2.0M	20x
Bitget MUUSDT	+0.0378%	8h	1,051.3	+0.087%	$20.6M	$41.6M	50x	as long as short
Phoenix MU	+0.0383%	1h	1,050.9	+0.050%	$538K	$306K	15x	as long as short
Extended MU_24_5-USD	+0.0384%	1h	1,050.1	−0.021%	$567K	$1.2M	10x	as long as short
GRVT MU_USDT_Perp	+0.0550%	8h	1,051.5	+0.108%	$83K	$1.3M	10x	as long as short