Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0098%/8h= +10.7% APRpaid last 24h +0.027%

Price spread now: Lighter against Bitget−0.010%7-day average −0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$180.178% of the position

Long on Bitget Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.050%+$5 on $10k

Price spread, last 7 days+0.028%+$3 · spread now −0.010%, 7d avg −0.040%

Together, before fees+0.078%+ Points / potential airdropLighter: Season 3 · farm board+$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Lighter is 0.030% dearer against Bitget than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.040%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MUUSDT	1,044.5	0.0094	pay 0.0094% / 8h	1h 29m	$20.5M	$43.1M	50x
Short	Lighter MU	1,044.4	0.0192	get 0.0024% / 1h	29m 19s	$1.0M	$4.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bitget. 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 BitgetbpFee LighterbpOrdersPrice spread, now −0.010%Rate

Funding earned: $20.58
Price spread: −0.010% → −0.040%: $3.01
Slippage, 4 orders: −$5.84
Fee Bitget: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: $5.75
Costs to cover: 0.178%
Break-even: 5.0 days

Slippage from Bitget: live order book, 5 min ago; Lighter: 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 Bitget live order book, 5 min ago	0.57 bp	7.7 bp −$8	9.2 bp −$92	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	0.81 bp	0.8 bp −$1	0.9 bp −$9	12.8 bp −$1,279	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	−0.0683%	4h	1,044.2	−0.025%	$1.3M	$673K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,044	−0.048%	$62.9M	$29.0M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,043.1	−0.130%	$189K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,046.8	+0.227%	$11K	$6.6M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,044.4	−0.009%	$125K	$441K	50x	as long as short
OKX MU-USDT-SWAP	+0.0025%	8h	1,044.5	0.000%	$30.9M	$104.9M	50x	as long as short
Aftermath Perps MUUSD	+0.0030%	1h	1,043.7	−0.072%	$3K	$45K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,044.2	−0.029%	$1.2M	$4.2M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.598%	$14K	$302	12x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,043.6	−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
Polymarket Perps MU-USD	+0.0050%	1h	1,043.8	−0.063%	$165K	$184K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,044.2	−0.025%	$685K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,043	−0.136%	$2.0M	$2.7M	10x	as long as short
Aster MUUSD1	+0.0069%	8h	1,044.4	−0.005%	$21.5M	$47.4M	20x	as long as short
QFEX MU-USD	+0.0071%	1h	1,043.9	−0.050%	$7.8M	$24.2M	10x	as long as short
Bitget MUUSDTlong	+0.0094%	8h	1,044.5	long leg	$20.5M	$43.1M	50x
Pacifica MU	+0.0100%	1h	1,043.5	−0.089%	$154K	$181K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,043.2	−0.119%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,043.5	−0.096%	$71K	$266K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,044.3	−0.017%	$830	$799	20x	as long as short
Aevo MU-PERP	+0.0120%	1h	1,044.1	−0.034%	$33K	—	10x	as long as short
Variational Omni MU	+0.0129%	8h	1,043.8	−0.061%	$2.6M	$2.7M	—	as long as short
Paradex MU-USD-PERP	+0.0131%	8h	1,043.8	−0.062%	$2K	—	5x	as long as short
Binance MUUSDT	+0.0148%	8h	1,044.4	−0.008%	$124.9M	$536.3M	50x	as long as short
Coinbase International MU-PERP-INTX	+0.0184%	1h	1,043.9	−0.054%	$756K	$1.4M	10x	as long as short
Lighter MUshort	+0.0192%	1h	1,044.4	−0.010%	$1.0M	$4.8M	20x
Nado MU-PERP	+0.0206%	1h	1,043.1	−0.130%	$272K	$863K	10x	as long as short
GRVT MU_USDT_Perp	+0.0208%	8h	1,044.1	−0.037%	$82K	$1.4M	10x	as long as short
Bybit MUUSDT	+0.0233%	8h	1,044.6	+0.017%	$19.1M	$32.6M	100x	as long as short
Bullet MU-USD	+0.0268%	1h	1,044.4	−0.009%	$26K	$398K	10x	as long as short
BloFin MU-USDT	+0.0268%	8h	1,044.6	+0.013%	$1.4M	$2.1M	20x	as long as short
tradeXYZ xyz:MU	+0.0338%	1h	1,044	−0.044%	$176.4M	$107.1M	10x	as long as short
Phoenix MU	+0.0383%	1h	1,044.4	−0.006%	$534K	$306K	15x	as long as short
Arcus MU-USD	+0.0435%	1h	1,043.5	−0.093%	$73K	$241K	10x	as long as short
RISEx MU/USDC	+0.0499%	1h	1,044.4	−0.005%	$295K	$338K	20x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0574%	1h	1,044.2	−0.024%	$61K	$246K	10x	as long as short
Extended MU_24_5-USD	+0.0648%	1h	1,043.1	−0.126%	$541K	$1.1M	10x	as long as short