M funding rates and arbitrage
Updated 2026-11-11 22:51 UTC
Best M arbitrage after every cost
No M pair nets a profit at this size right now.
At $10,000 per side, held 7 days, after taker fees, order-book slippage and carry.
M funding rate on every exchange
| Exchange | Contract | Rate | Every | Annualised | Settled 7d, annualised | Open interest | Next settlement |
|---|---|---|---|---|---|---|---|
| KuCoin | MUSDTM | 0.0258% | 4 h | +56.5% | +2.0% | $872.2K | 2026-11-12 00:00 |
| Bitunix | MUSDT | 0.0144% | 4 h | +31.6% | +25.6% | — | 2026-11-12 00:00 |
| BingX | M-USDT | 0.0103% | 4 h | +22.6% | +35.0% | $457.4K | 2026-11-12 00:00 |
| BloFin | M-USDT | 0.0091% | 4 h | +20.0% | +25.4% | $176.7K | 2026-11-12 00:00 |
| MEXC | M_USDT | 0.0089% | 4 h | +19.5% | +25.9% | $72.2K | 2026-11-12 00:00 |
| LBank | MUSDT | 0.0089% | 4 h | +19.5% | +46.3% | — | 2026-11-12 00:00 |
| Binance | MUSDT | 0.0085% | 4 h | +18.6% | +25.9% | $3M | 2026-11-12 00:00 |
| Bybit | MUSDT | 0.0050% | 4 h | +10.9% | +23.1% | $2.5M | 2026-11-12 00:00 |
| WhiteBIT | M_PERP | 0.0050% | 4 h | +10.9% | +11.0% | $557.8K | 2026-11-12 00:00 |
| Bitget | MUSDT | 0.0050% | 4 h | +10.9% | +11.0% | $1.4M | 2026-11-12 00:00 |
| Aster | MUSDT | 0.0050% | 4 h | +10.9% | +16.4% | $8.5K | 2026-11-12 00:00 |
| Gate | M_USDT | 0.0100% | 8 h | +10.9% | +11.0% | $665.4K | 2026-11-12 00:00 |
| Variational | M-PERP | 0.0050% | 4 h | +10.9% | +12.1% | $131.9K | 2026-11-12 00:00 |
Borrow M to sell spot
| Exchange | Borrow APR | Per-account limit |
|---|---|---|
| Bitget | 1.07% | — |
Cost to enter $10,000 of M
| Exchange | Contract | Fee + slippage | Source |
|---|---|---|---|
| MEXC | M_USDT | 5.9 bp | top of book only |
| Binance | MUSDT | 6.9 bp | top of book only |
| BingX | M-USDT | 8.2 bp | top of book only |
| BloFin | M-USDT | 9.2 bp | top of book only |
| Variational | M-PERP | 11.5 bp | top of book only |
| Bybit | MUSDT | 13.8 bp | top of book only |
| Bitget | MUSDT | 14.9 bp | top of book only |
| Gate | M_USDT | 15.2 bp | top of book only |
| Bitget | MUSDT (spot) | 15.3 bp | top of book only |
| Aster | MUSDT | 20.6 bp | top of book only |
| Gate | M_USDT (spot) | 23.2 bp | top of book only |
| KuCoin | MUSDTM | 29.2 bp | top of book only |
Taker fee plus slippage of a market buy of $10,000 from the mid price, at standard (VIP0) fees.
More on M
Questions
Is M funding-rate arbitrage profitable right now?
Not at $10,000 per side for 7 days: no M pair shows a verified profit after fees and order-book slippage right now. Rates change every hour; the live page re-ranks continuously.
Which exchange has the highest M funding rate?
KuCoin at +56.5% a year (0.0258% every 4 h); the lowest is Variational at +10.9%. A positive rate is paid by longs to shorts, a negative one by shorts to longs.
The method behind every number on AfterFees is published; Pro opens each figure into its line-by-line calculation. Estimates from current data, not investment advice. We never hold funds or trade for you.