Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0027%/8h= −2.9% APRpaid last 24h +0.012%

Price spread now: Bybit against QFEX+0.102%7-day average +0.047% · 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−$23as in the Price arb table

costs, in and out, $10k−$280.283% of the position

Long on QFEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.034%+$3 on $10k

Price spread, last 7 days−0.058%−$6 · spread now +0.102%, 7d avg +0.047%

Together, before fees−0.025%−$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.056% dearer against QFEX than usual: you sell high and buy low (spread +0.102% now, against its 7-day average of +0.047%): +$6 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 6.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX MU-USD	1,028.4	0.0027	pay 0.0003% / 1h	21m 01s	$6.9M	$18.9M	10x
Short	Bybit MUUSDT	1,029.5	0	get 0.0000% / 8h	7h 21m	$18.6M	$32.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.102%Rate

Funding earned: −$5.59
Price spread: +0.102% → +0.047%: $5.55
Slippage, 4 orders: −$7.27
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$28.32
Costs to cover: 0.283%
Break-even: never at this rate

Slippage from QFEX: live order book, 13 min ago; Bybit: 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	0.73 bp	5.7 bp −$6	5.7 bp −$57	9.4 bp −$944	doesn't fit
Sell Bybit live order book, 3 min ago	0.29 bp	7.6 bp −$8	11.2 bp −$112	25.8 bp −$2,580	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	−0.0959%	4h	1,026.4	−0.199%	$1.3M	$695K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,028.9	+0.049%	$21.0M	$69.2M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,029.3	+0.084%	$121.7M	$548.8M	50x	as long as short
Bybit MUUSDTshort	0.0000%	8h	1,029.5	+0.102%	$18.6M	$32.4M	100x
OKX MU-USDT-SWAP	0.0000%	8h	1,029.4	+0.095%	$29.1M	$103.2M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,028	−0.044%	$293K	$387K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,029	+0.057%	$61.8M	$28.4M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,029.3	+0.089%	$19.8M	$41.1M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,024.7	−0.359%	$2.5M	$2.6M	—	as long as short
StandX MU-USD	0.0000%	1h	1,028.1	−0.035%	$186K	$3.6M	20x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX MU-USDT	0.0000%	8h	1,030	+0.155%	$11K	$5.3M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,029.3	+0.084%	$118K	$494K	50x	as long as short
QFEX MU-USDlong	+0.0027%	1h	1,028.4	long leg	$6.9M	$18.9M	10x
Aftermath Perps MUUSD	+0.0029%	1h	1,026.4	−0.200%	$3K	$43K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,028.9	+0.042%	$1.1M	$4.5M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,028.1	−0.035%	$544K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+2.231%	$19K	$5K	12x	as long as short
GRVT MU_USDT_Perp	+0.0040%	8h	1,026.9	−0.147%	$81K	$1.4M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,028.1	−0.032%	$89K	$234K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,028.2	−0.020%	—	$179K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,028.3	−0.012%	$166K	$177K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,028.7	+0.026%	$675K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,027.5	−0.087%	$1.9M	$3.1M	10x	as long as short
Paradex MU-USD-PERP	+0.0066%	8h	1,028.5	+0.005%	$2K	—	5x	as long as short
Lighter MU	+0.0080%	1h	1,029	+0.059%	$992K	$5.0M	20x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,028.7	+0.028%	$32K	$1K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0096%	1h	1,029.4	+0.096%	$719K	$1.1M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,028	−0.040%	$146K	$194K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,027.9	−0.052%	$5.1M	$4.7M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,026.4	−0.198%	$70K	$270K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,028.4	−0.006%	$818	$799	20x	as long as short
Nado MU-PERP	+0.0100%	1h	1,027.7	−0.070%	$264K	$815K	10x	as long as short
tradeXYZ xyz:MU	+0.0101%	1h	1,028.9	+0.047%	$174.0M	$78.9M	10x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,029.4	+0.092%	$1.5M	$2.3M	20x	as long as short
Bullet MU-USD	+0.0143%	1h	1,029.1	+0.066%	$25K	$388K	10x	as long as short
Phoenix MU	+0.0231%	1h	1,028.4	−0.002%	$526K	$270K	15x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0256%	1h	1,028.9	+0.042%	$72K	$630K	10x	as long as short