Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0204%/8h= −22.4% APRpaid last 24h +0.012%

Price spread now: Lighter against Aster+0.061%7-day average −0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs+$6as in the Funding arb table

Net, price: spread back to 7d avg − costs−$6as in the Price arb table

costs, in and out, $10k−$150.149% of the position

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.207%+$21 on $10k

Price spread, last 7 days−0.039%−$4 · spread now +0.061%, 7d avg −0.027%

Together, before fees+0.168%+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm board+$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.088% dearer against Aster than usual: you sell high and buy low (spread +0.061% now, against its 7-day average of −0.027%): +$9 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 35 hours. Mind the row above: over the last 7 days funding on this pair paid +0.207%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MUUSD1	1,050.8	0.0260	pay 0.0260% / 8h	7h 07m	$21.6M	$48.4M	20x
Short	Lighter MU	1,051.4	0.0056	get 0.0007% / 1h	7m 57s	$1.1M	$4.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aster. 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 AsterbpFee LighterbpOrdersPrice spread, now +0.061%Rate

Funding earned: −$42.88
Price spread: +0.061% → −0.027%: $8.81
Slippage, 4 orders: −$6.93
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$49
Costs to cover: 0.149%
Break-even: never at this rate

Slippage from Aster: live order book, 6 min ago; Lighter: 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 Aster live order book, 6 min ago	1.38 bp	5.8 bp −$6	6.3 bp −$63	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	1.05 bp	1.0 bp −$1	1.5 bp −$15	28.4 bp −$2,842	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	−0.0562%	4h	1,050.9	+0.010%	$1.3M	$671K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,051.4	+0.057%	$62.7M	$29.1M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,050.3	−0.050%	$190K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,052.6	+0.167%	$11K	$6.1M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,051	+0.021%	$129K	$425K	50x	as long as short
Aftermath Perps MUUSD	+0.0022%	1h	1,050.9	+0.009%	$3K	$45K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,051.3	+0.046%	$1.2M	$4.2M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.054%	$19K	$5K	12x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,052.1	+0.125%	—	$179K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,051.2	+0.039%	$171K	$203K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps MU-USD.P	+0.0050%	1h	1,050.5	−0.025%	$1.9M	$2.3M	10x	as long as short
QFEX MU-USD	+0.0054%	1h	1,051.1	+0.030%	$7.6M	$21.2M	10x	as long as short
Lighter MUshort	+0.0056%	1h	1,051.4	+0.061%	$1.1M	$4.8M	20x
SoDEX MU-USD	+0.0068%	1h	1,051.4	+0.055%	$690K	$16K	10x	as long as short
Paradex MU-USD-PERP	+0.0086%	8h	1,051.3	+0.050%	$2K	—	5x	as long as short
Nado MU-PERP	+0.0087%	1h	1,050.9	+0.010%	$274K	$857K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,051.3	+0.044%	$149K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,051.1	+0.031%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,050.6	−0.015%	$71K	$267K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,051.3	+0.047%	$836	$799	20x	as long as short
OKX MU-USDT-SWAP	+0.0107%	8h	1,051.8	+0.093%	$31.0M	$101.7M	50x	as long as short
Aevo MU-PERP	+0.0144%	1h	1,051.1	+0.030%	$32K	$1K	10x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0169%	1h	1,051.2	+0.041%	$65K	$311K	10x	as long as short
Bullet MU-USD	+0.0179%	1h	1,051.5	+0.067%	$26K	$396K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0184%	1h	1,050.5	−0.030%	$762K	$1.2M	10x	as long as short
tradeXYZ xyz:MU	+0.0206%	1h	1,051.3	+0.048%	$178.5M	$100.1M	10x	as long as short
Bybit MUUSDT	+0.0209%	8h	1,051.9	+0.101%	$19.4M	$32.6M	100x	as long as short
Arcus MU-USD	+0.0240%	1h	1,051.1	+0.030%	$71K	$242K	10x	as long as short
Variational Omni MU	+0.0248%	8h	1,051.1	+0.024%	$2.7M	$2.4M	—	as long as short
Aster MUUSD1long	+0.0260%	8h	1,050.8	long leg	$21.6M	$48.4M	20x
Binance MUUSDT	+0.0264%	8h	1,051.7	+0.084%	$126.5M	$521.3M	50x	as long as short
Extended MU_24_5-USD	+0.0304%	1h	1,050.8	0.000%	$559K	$1.2M	10x	as long as short
RISEx MU/USDC	+0.0312%	1h	1,051.5	+0.065%	$316K	$339K	20x	as long as short
BloFin MU-USDT	+0.0381%	8h	1,051.3	+0.050%	$1.5M	$2.0M	20x	as long as short
Phoenix MU	+0.0383%	1h	1,051.5	+0.067%	$538K	$306K	15x	as long as short
Bitget MUUSDT	+0.0414%	8h	1,051.6	+0.074%	$20.6M	$41.6M	50x	as long as short
GRVT MU_USDT_Perp	+0.0590%	8h	1,051.8	+0.098%	$83K	$1.3M	10x	as long as short