Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0936%/8h= +102.4% APRpaid last 24h −0.032%

Price spread now: Lighter against edgeX−0.011%49s7-day average +0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$110.109% of the position

Long on edgeX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.616%−$62 on $10k

Price spread, last 7 days+0.025%+$2 · spread now −0.011%, 7d avg +0.006%

Together, before fees−0.591%+ Points / potential airdropedgeX: Active · Lighter: Season 3 · farm board−$59 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.006%, so right now this pair is about funding alone: +$28 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.616%, so the current rate has only just turned in your favour. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.616% in total (about -32.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX MUUSDC	1,042.8	−0.0768	get 0.0384% / 4h	2h 00m	$1.3M	$673K	10x
Short	Lighter MU	1,042.7	0.0168	get 0.0021% / 1h	0m 33s	$998K	$4.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against edgeX. 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 edgeXbpFee LighterbpOrdersPrice spread, now −0.011%Rate

Funding earned: $196.48
Price spread: −0.011% → +0.006%: −$1.65
Slippage, 4 orders: −$1.87
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: $183.96
Costs to cover: 0.109%
Break-even: 0.4 days

Slippage from edgeX: live order book, 3 min ago; Lighter: live order book, 7 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 edgeX live order book, 3 min ago	0.29 bp	4.9 bp −$5	6.7 bp −$67	28.8 bp −$2,876	doesn't fit
Sell Lighter live order book, 7 min ago	0.53 bp	0.5 bp −$1	1.7 bp −$17	18.3 bp −$1,827	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 MUUSDClong	−0.0768%	4h	1,042.8	long leg	$1.3M	$673K	10x
OKX MU-USDT-SWAP	0.0000%	8h	1,042.8	+0.004%	$30.7M	$104.3M	50x	as long as short
Gate MU_USDT	0.0000%	8h	1,042.7	−0.004%	$62.9M	$29.2M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,042.6	−0.013%	$188K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,044.6	+0.180%	$11K	$6.7M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,042.5	−0.025%	$60K	$236K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,042.5	−0.024%	$125K	$442K	50x	as long as short
Aster MUUSD1	+0.0008%	8h	1,043.2	+0.042%	$21.5M	$46.6M	20x	as long as short
Aftermath Perps MUUSD	+0.0029%	1h	1,042.5	−0.024%	$3K	$44K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,042.6	−0.012%	$1.1M	$4.3M	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.762%	$14K	$302	12x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,042.7	−0.004%	—	$193K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,042.5	−0.025%	$165K	$180K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,042.7	−0.005%	$684K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,041.7	−0.101%	$2.0M	$2.6M	10x	as long as short
QFEX MU-USD	+0.0057%	1h	1,043	+0.024%	$7.8M	$24.1M	10x	as long as short
Bitget MUUSDT	+0.0072%	8h	1,042.7	−0.011%	$20.4M	$42.9M	50x	as long as short
Variational Omni MU	+0.0087%	8h	1,042.7	−0.006%	$2.7M	$2.7M	—	as long as short
Pacifica MU	+0.0100%	1h	1,042.9	+0.010%	$154K	$182K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,042.4	−0.037%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,042.8	+0.002%	$71K	$267K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,042.8	+0.007%	$829	$799	20x	as long as short
Paradex MU-USD-PERP	+0.0108%	8h	1,042.8	+0.006%	$2K	—	5x	as long as short
Binance MUUSDT	+0.0112%	8h	1,043	+0.024%	$124.7M	$540.4M	50x	as long as short
Aevo MU-PERP	+0.0112%	1h	1,042.5	−0.025%	$33K	—	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0152%	1h	1,043.8	+0.101%	$756K	$1.4M	10x	as long as short
Lighter MUshort	+0.0168%	1h	1,042.7	−0.011%	$998K	$4.8M	20x
GRVT MU_USDT_Perp	+0.0178%	8h	1,042.9	+0.012%	$82K	$1.4M	10x	as long as short
Nado MU-PERP	+0.0184%	1h	1,042.3	−0.042%	$307K	$845K	10x	as long as short
Bybit MUUSDT	+0.0190%	8h	1,043	+0.025%	$19.1M	$32.5M	100x	as long as short
RISEx MU/USDC	+0.0202%	1h	1,043.1	+0.030%	$285K	$333K	20x	as long as short
tradeXYZ xyz:MU	+0.0204%	1h	1,042.8	+0.003%	$176.2M	$107.3M	10x	as long as short
Bullet MU-USD	+0.0218%	1h	1,043	+0.026%	$25K	$400K	10x	as long as short
Arcus MU-USD	+0.0226%	1h	1,042.4	−0.039%	$63K	$230K	10x	as long as short
Phoenix MU	+0.0230%	1h	1,043	+0.023%	$533K	$303K	15x	as long as short
BloFin MU-USDT	+0.0231%	8h	1,042.9	+0.013%	$1.5M	$2.1M	20x	as long as short
Extended MU_24_5-USD	+0.0632%	1h	1,041.9	−0.081%	$540K	$1.1M	10x	as long as short