Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0143%/8h= −15.6% APRpaid last 24h +0.009%

Price spread now: Lighter RH against Aster+0.051%7-day average −0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$14as in the Funding arb table

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

costs, in and out, $10k−$160.161% of the position

Long on Aster Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.026%+$3 on $10k

Price spread, last 7 days−0.093%−$9 · spread now +0.051%, 7d avg −0.049%

Together, before fees−0.067%+ Points / potential airdropAster: Stage 5 · Lighter RH: Points live · farm board−$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter RH is 0.100% dearer against Aster than usual: you sell high and buy low (spread +0.051% now, against its 7-day average of −0.049%): +$10 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MUUSD1	1,047.8	0.0175	pay 0.0175% / 8h	7h 55m	$21.6M	$47.8M	20x
Short	Lighter RH MU	1,048.3	0.0032	get 0.0004% / 1h	55m 25s	$1.2M	$4.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.051%Rate

Funding earned: −$29.98
Price spread: +0.051% → −0.049%: $10
Slippage, 4 orders: −$8.14
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$36.12
Costs to cover: 0.161%
Break-even: never at this rate

Slippage from Aster: live order book, 4 min ago; Lighter RH: 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 Aster live order book, 4 min ago	0.91 bp	4.9 bp −$5	9.5 bp −$95	doesn't fit	doesn't fit
Sell Lighter RH live order book, 3 min ago	1.00 bp	1.0 bp −$1	4.1 bp −$41	doesn't fit	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	−0.0946%	4h	1,047	−0.078%	$1.3M	$671K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,048.2	+0.037%	$63.1M	$28.3M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,046.9	−0.085%	$189K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,049.9	+0.207%	$11K	$6.4M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,048.2	+0.036%	$130K	$418K	50x	as long as short
Aftermath Perps MUUSD	+0.0024%	1h	1,045.8	−0.189%	$3K	$44K	10x	as long as short
Lighter RH MUshort	+0.0032%	1h	1,048.3	+0.051%	$1.2M	$4.1M	10x
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.280%	$14K	$251	12x	as long as short
Lighter MU	+0.0040%	1h	1,048.4	+0.060%	$1.1M	$4.7M	20x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,048.7	+0.085%	—	$194K	25x	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	1,046.4	−0.128%	$2.0M	$2.2M	10x	as long as short
QFEX MU-USD	+0.0054%	1h	1,048.5	+0.065%	$7.9M	$23.5M	10x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0055%	1h	1,048	+0.020%	$62K	$291K	10x	as long as short
Nado MU-PERP	+0.0063%	1h	1,047.8	+0.004%	$271K	$863K	10x	as long as short
OKX MU-USDT-SWAP	+0.0088%	8h	1,048.3	+0.048%	$30.9M	$101.7M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,048.1	+0.029%	$153K	$180K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,047.2	−0.051%	$5.3M	$3.7M	20x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,048.3	+0.048%	$833	$799	20x	as long as short
Paradex MU-USD-PERP	+0.0106%	8h	1,048.2	+0.044%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0128%	1h	1,047.3	−0.048%	$34K	—	10x	as long as short
Bitget MUUSDT	+0.0138%	8h	1,048.4	+0.055%	$20.6M	$41.6M	50x	as long as short
Variational Omni MU	+0.0168%	8h	1,048.2	+0.036%	$2.7M	$2.5M	—	as long as short
Aster MUUSD1long	+0.0175%	8h	1,047.8	long leg	$21.6M	$47.8M	20x
Binance MUUSDT	+0.0183%	8h	1,048.4	+0.060%	$125.4M	$526.4M	50x	as long as short
Coinbase International MU-PERP-INTX	+0.0184%	1h	1,046.7	−0.106%	$759K	$1.3M	10x	as long as short
GRVT MU_USDT_Perp	+0.0195%	8h	1,048	+0.019%	$82K	$1.4M	10x	as long as short
Arcus MU-USD	+0.0240%	1h	1,046.7	−0.099%	$71K	$243K	10x	as long as short
Bybit MUUSDT	+0.0265%	8h	1,048.5	+0.065%	$19.2M	$32.6M	100x	as long as short
BloFin MU-USDT	+0.0301%	8h	1,048	+0.025%	$1.5M	$2.0M	20x	as long as short
RISEx MU/USDC	+0.0312%	1h	1,048.5	+0.070%	$315K	$339K	20x	as long as short
SoDEX MU-USD	+0.0439%	1h	1,048.2	+0.036%	$688K	$16K	10x	as long as short
ApeX Omni MUUSDT	+0.0451%	1h	1,048.3	+0.053%	$71K	$267K	50x	as long as short
Phoenix MU	+0.0460%	1h	1,048	+0.022%	$536K	$306K	15x	as long as short
Extended MU_24_5-USD	+0.0536%	1h	1,044.4	−0.326%	$550K	$1.0M	10x	as long as short
Polymarket Perps MU-USD	+0.0708%	1h	1,047.3	−0.045%	$169K	$202K	10x	as long as short
Bullet MU-USD	+0.0984%	1h	1,048.2	+0.045%	$26K	$394K	10x	as long as short
tradeXYZ xyz:MU	+0.1055%	1h	1,047.3	−0.045%	$177.4M	$105.2M	10x	as long as short