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: HTX against QFEX+0.019%7-day average +0.013% · 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−$32as in the Price arb table

costs, in and out, $10k−$330.327% of the position

Long on QFEX Short on HTX

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 4 days (all we have)−0.013%−$1 · spread now +0.019%, 7d avg +0.013%

Together, before fees−0.035%−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.013%, 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	QFEX MU-USD	1,040.2	0.0023	pay 0.0003% / 1h	10m 25s	$7.0M	$18.2M	10x
Short	HTX MU-USDT	1,040.4	0	get 0.0000% / 8h	2h 10m	$128K	$438K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.019%Rate

Funding earned: −$4.87
Price spread: +0.019% → +0.013%: $0.66
Slippage, 4 orders: −$10.66
Fee QFEX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$36.87
Costs to cover: 0.327%
Break-even: never at this rate

Slippage from QFEX: live order book, 4 min ago; HTX: live order book, 38 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	1.35 bp	6.3 bp −$6	6.6 bp −$66	11.5 bp −$1,151	doesn't fit
Sell HTX live order book, 38 min ago	3.16 bp	10.6 bp −$11	10.8 bp −$108	17.5 bp −$1,749	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	−0.0148%	4h	1,038.9	−0.127%	$1.3M	$671K	10x	as long as short
Bitget MUUSDT	−0.0145%	8h	1,040.6	+0.032%	$20.3M	$41.2M	50x	as long as short
Aster MUUSD1	0.0000%	8h	1,040.7	+0.046%	$21.2M	$57.2M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,040.6	+0.033%	$122.1M	$535.5M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,040.8	+0.056%	$18.7M	$32.1M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,040.7	+0.048%	$30.0M	$101.5M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,040.6	+0.038%	$316K	$382K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,040.4	+0.017%	$61.6M	$28.6M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,040.3	+0.006%	$2.5M	$2.5M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,037.3	−0.279%	$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	1,041	+0.070%	$188K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,041.6	+0.132%	$11K	$5.7M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,040.3	+0.010%	$74K	$528K	10x	as long as short
HTX MU-USDTshort	0.0000%	8h	1,040.4	+0.019%	$128K	$438K	50x
Aftermath Perps MUUSD	+0.0015%	1h	1,038.1	−0.202%	$3K	$44K	10x	as long as short
Nado MU-PERP	+0.0022%	1h	1,040	−0.023%	$277K	$817K	10x	as long as short
QFEX MU-USDlong	+0.0023%	1h	1,040.2	long leg	$7.0M	$18.2M	10x
Lighter RH MU	+0.0032%	1h	1,040.2	−0.005%	$1.2M	$4.6M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,039.8	−0.045%	$538K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.069%	$19K	$5K	12x	as long as short
Bullet MU-USD	+0.0037%	1h	1,040.6	+0.035%	$26K	$389K	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,038.9	−0.131%	$70K	$231K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,040.4	+0.018%	—	$175K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,040.4	+0.015%	$176.9M	$92.0M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,040.2	−0.004%	$169K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,040.1	−0.011%	$683K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,039.7	−0.057%	$1.9M	$2.5M	10x	as long as short
Paradex MU-USD-PERP	+0.0054%	8h	1,040.7	+0.040%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,040.1	−0.011%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,039.9	−0.031%	$148K	$189K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,040.3	+0.004%	$5.2M	$3.8M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,039.5	−0.068%	$71K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,040.8	+0.050%	$827	$799	20x	as long as short
Lighter MU	+0.0104%	1h	1,040.4	+0.018%	$1.0M	$5.0M	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,040.8	+0.052%	$1.5M	$2.1M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0144%	1h	1,036	−0.410%	$731K	$1.3M	10x	as long as short
Phoenix MU	+0.0231%	1h	1,039	−0.119%	$531K	$270K	15x	as long as short