Funding arb · Price arb / RWA

MU

RWAAll MU markets →

LONGBackpack▾Reya −0.2598%Popdex −0.1336%Extended −0.1264%Ondo Perps −0.1167%HTX −0.0962%RISEx −0.0949%GRVT −0.0896%tradeXYZ −0.0773%Bybit −0.0751%Lighter −0.0616%Pacifica −0.0551%Avantis −0.0513%Nado −0.0510%AZverse −0.0443%TxFlow −0.0347%KuCoin −0.0311%Paradex −0.0254%Polymarket Perps −0.0217%Phoenix −0.0181%Aster −0.0180%Binance −0.0036%MEXC −0.0023%Variational Omni −0.0007%OKX 0.0000%QFEX 0.0000%Gate 0.0000%Bitget 0.0000%StandX 0.0000%Bullet 0.0000%SunX 0.0000%Deribit 0.0000%Orderly +0.0021%Arcus +0.0038%Vest Markets +0.0046%BingX +0.0050%Backpack +0.0050%SoDEX +0.0050%Aevo +0.0072%ApeX Omni +0.0100%Phemex +0.0100%BloFin +0.0108%edgeX +0.0152%Injective +0.0220%Kraken Futures +0.0268%Aftermath Perps +0.0334%

⇄⇅

SHORTLighter RH▾Aftermath Perps +0.0334%Kraken Futures +0.0268%Injective +0.0220%edgeX +0.0152%BloFin +0.0108%ApeX Omni +0.0100%Phemex +0.0100%Aevo +0.0072%BingX +0.0050%SoDEX +0.0050%Vest Markets +0.0046%Arcus +0.0038%Orderly +0.0021%OKX 0.0000%QFEX 0.0000%Gate 0.0000%Bitget 0.0000%StandX 0.0000%Bullet 0.0000%SunX 0.0000%Deribit 0.0000%Variational Omni −0.0007%MEXC −0.0023%Binance −0.0036%Aster −0.0180%Phoenix −0.0181%Polymarket Perps −0.0217%Paradex −0.0254%KuCoin −0.0311%TxFlow −0.0347%AZverse −0.0443%Nado −0.0510%Avantis +0.0549%Pacifica −0.0551%Lighter RH −0.0592%Lighter −0.0616%Bybit −0.0751%tradeXYZ −0.0773%GRVT −0.0896%RISEx −0.0949%HTX −0.0962%Ondo Perps −0.1167%Extended −0.1264%Popdex −0.1336%Reya −0.2598%

Backtest 30d☆

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	BackpackMU.US_USDC_PERP	882.36	+0.0050	pay 0.0006% / 1h	38m 47s	$255K	$207K	10x	Long Backpack
SHORT	Lighter RHMU	881.61	−0.0592	pay 0.0074% / 1h	38m 47s	$1.6M	$5.6M	10x	Short Lighter RH+10% pts

Price gap−0.085%

Funding gap−0.0642% /8h

Both sides work against this direction now: funding costs $19 a day on $10k and the gap is 0.054% under its 7d average. Swap the legs.

The current funding rate is far below what this pair has been paying: over the last 7 days it paid −0.386% in total, about −0.0184%/8h on average.

Price and funding

Entry / ExitPrice spreadPricesFundingLeg ratesP&L

1m5m15m1h

1h · history

24H3D7D14D30D90D

Entry / Exit?

Price spread?

Prices?

Funding?per 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now−0.085%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D▾

share of time at each level

Funding on every exchange

/8h

24H3D7D14D30D90D

BackpackLighter RH

MU on 46 exchanges

lowest funding first

Before you open

3 ok · 3 to watch

• ✓
  OK: Fits both order books5.5 / 2.1 bp

  Entry at $10k a leg, taker fee + slippage. Closing costs about the same.
• i
  Note: Margin at max leverage$1,000 + $1,000

  Backpack 10x, Lighter RH 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
• ✓
  OK: Same payment interval1h / 1h

  Both legs pay at the same time.

  Long Backpack · 1h−$1.50

  Short Lighter RH · 1h−$17.76

  now+6h+12h+18h+24h

  Next 24h at the current rates, on $10k a leg: −$19.26Long Backpack: 24 payments, −$1.50; short Lighter RH: 24 payments, −$17.76.
• !
  Watch: Gap narrower than usual−0.085% vs −0.031%

  Less room for the price leg to pay you. If it goes back to average, the short loses.
• !
  Watch: Long leg is thinner$255K vs $1.6M OI

  Backpack sets your exit cost. Check its book before closing.
• ✓
  OK: Points on a legLighter RH Points live

  Volume here counts toward the points program.
• !
  Watch: KYCBackpack Yes · Lighter RH No

  KYC (ID, face scan, residency and source of income) before any trading.

Profit calculator

both legs, in and out

Position, each leg

$10k$100k$1M

Hold for

1 day7 days30 days

Orders

takermaker

Price spread

to 7d avgclosesnot counted

Funding rate

range avgcurrent

Funding earned−0.0184%/8h × 21 periods−$38.55

Price spread−0.085% → −0.031% (7d avg)−$5.43

Slippage, 4 orderslive order books−$4.07

Fee Backpack bp × 2 orders−$10.00

Fee Lighter RH bp × 2 orders$0.00

Net · 7 days · $10k−$58.05

Costs to cover0.141%Break-evennever at this rate

Slippage: Backpack: live order book, 56 min ago; Lighter RH: live order book, 5 min ago

Cost to enter

taker + slippage from mid, one side

Leg½ spr$10k$100k$1M$5M

BUY · LONGBackpack0.065.5 bp−$654.4 bp−$544doesn’t fitdoesn’t fit

SELL · SHORTLighter RH0.912.1 bp−$23.6 bp−$36doesn’t fitdoesn’t fit

Closing costs about the same again.

Alert

FundingSpread

Tell me when it goes above%/8hNot more often than everymin

Create alert

FundingPrice spread

I'm in

MU news

posts that mention MU or Micron Technology, from every exchangeSearch all news →

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