# M funding rates and arbitrage

Updated 2026-10-29 14:51 UTC · https://afterfees.xyz/coin/M

## 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](https://afterfees.xyz/venues/kucoin) | MUSDTM | 0.1350% | 4 h | +295.7% | +19.1% | $1.4M | 2026-10-29 16:00 |
| [Variational](https://afterfees.xyz/venues/variational) | M-PERP | 0.0077% | 4 h | +17.0% | — | $97.5K | 2026-10-29 16:00 |
| [BloFin](https://afterfees.xyz/venues/blofin) | M-USDT | 0.0074% | 4 h | +16.2% | +13.3% | $260.6K | 2026-10-29 16:00 |
| [Binance](https://afterfees.xyz/venues/binance) | MUSDT | 0.0051% | 4 h | +11.3% | +12.9% | $4.6M | 2026-10-29 16:00 |
| [Bitunix](https://afterfees.xyz/venues/bitunix) | MUSDT | 0.0050% | 4 h | +10.9% | +12.8% | — | 2026-10-29 16:00 |
| [MEXC](https://afterfees.xyz/venues/mexc) | M_USDT | 0.0050% | 4 h | +10.9% | +12.7% | $155.4K | 2026-10-29 16:00 |
| [WhiteBIT](https://afterfees.xyz/venues/whitebit) | M_PERP | 0.0050% | 4 h | +10.9% | +11.0% | $851.5K | 2026-10-29 16:00 |
| [Bitget](https://afterfees.xyz/venues/bitget) | MUSDT | 0.0050% | 4 h | +10.9% | +11.0% | $1.9M | 2026-10-29 16:00 |
| [LBank](https://afterfees.xyz/venues/lbank) | MUSDT | 0.0050% | 4 h | +10.9% | — | — | 2026-10-29 16:00 |
| [BingX](https://afterfees.xyz/venues/bingx) | M-USDT | 0.0050% | 4 h | +10.9% | +16.5% | $1.1M | 2026-10-29 16:00 |
| [Bybit](https://afterfees.xyz/venues/bybit) | MUSDT | 0.0050% | 4 h | +10.9% | +18.8% | $3.5M | 2026-10-29 16:00 |
| [Aster](https://afterfees.xyz/venues/aster) | MUSDT | 0.0050% | 4 h | +10.9% | +11.4% | $7.4K | 2026-10-29 16:00 |
| [Gate](https://afterfees.xyz/venues/gate) | M_USDT | 0.0100% | 8 h | +10.9% | +8.0% | $1M | 2026-10-29 16:00 |

## 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 | 3.8 bp | top of book only |
| Binance | MUSDT | 6.4 bp | top of book only |
| BingX | M-USDT | 7.8 bp | top of book only |
| Bybit | MUSDT | 9.2 bp | top of book only |
| Variational | M-PERP | 9.3 bp | top of book only |
| Bitget | MUSDT | 12.0 bp | top of book only |
| Gate | M_USDT | 12.6 bp | top of book only |
| BloFin | M-USDT | 14.3 bp | top of book only |
| Bitget | MUSDT (spot) | 16.0 bp | top of book only |
| Aster | MUSDT | 16.5 bp | top of book only |
| Gate | M_USDT (spot) | 26.0 bp | top of book only |
| KuCoin | MUSDTM | 38.1 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

- [Borrow M: rates on every exchange](https://afterfees.xyz/borrow/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 +295.7% a year (0.1350% every 4 h); the lowest is Gate 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._