Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0761%/8h= +83.3% APRpaid last 24h −0.005%

Price spread now: Lighter RH against edgeX−0.254%50s7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$93as 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−$130.135% of the position

Long on edgeX Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.791%−$79 on $10k

Price spread, last 7 days+0.249%+$25 · spread now −0.254%, 7d avg −0.018%

Together, before fees−0.541%+ Points / potential airdropedgeX: Active · Lighter RH: Points live · farm board−$54 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter RH is 0.236% cheaper against edgeX than usual: you would sell low and buy high (spread −0.254% now, against its 7-day average of −0.018%). If the spread goes back, that is −$24 on $10k: about 25 hours of funding at the current rate (+$23 a day). Mind the row above: over the last 7 days funding on this pair cost −0.791%, so the current rate has only just turned in your favour. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX MUUSDC	1,040.3	−0.0729	get 0.0365% / 4h	1h 54m	$1.3M	$671K	10x
Short	Lighter RH MU	1,037.6	0.0032	get 0.0004% / 1h	54m 33s	$1.2M	$4.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now −0.254%Rate

Funding earned: $159.83
Price spread: −0.254% → −0.018%: −$23.63
Slippage, 4 orders: −$4.5
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Lighter RH: 0 bp × 2 orders: $0
Net: $122.71
Costs to cover: 0.135%
Break-even: 1.6 days

Slippage from edgeX: live order book, 4 min ago; Lighter RH: live order book, 4 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, 4 min ago	0.48 bp	5.1 bp −$5	6.8 bp −$68	27.0 bp −$2,704	doesn't fit
Sell Lighter RH live order book, 4 min ago	1.63 bp	1.7 bp −$2	5.7 bp −$57	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 MUUSDClong	−0.0729%	4h	1,040.3	long leg	$1.3M	$671K	10x
Bitget MUUSDT	−0.0071%	8h	1,037.8	−0.237%	$20.2M	$41.3M	50x	as long as short
Aster MUUSD1	0.0000%	8h	1,037.7	−0.244%	$21.1M	$57.3M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,037.4	−0.277%	$121.6M	$536.7M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,037.6	−0.255%	$18.6M	$32.2M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,037.6	−0.257%	$29.9M	$101.4M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,037.6	−0.261%	$315K	$384K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,037.9	−0.225%	$61.4M	$28.2M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,038.8	−0.146%	$2.5M	$2.6M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,039.7	−0.051%	$84K	$1.4M	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX MU-USD	0.0000%	1h	1,038.7	−0.149%	$188K	$3.5M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,038.9	−0.135%	$26K	$390K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,040.3	+0.002%	$11K	$5.6M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,038.5	−0.171%	$128K	$441K	50x	as long as short
Nado MU-PERP	+0.0003%	1h	1,037.7	−0.248%	$277K	$817K	10x	as long as short
Aftermath Perps MUUSD	+0.0019%	1h	1,039.5	−0.076%	$3K	$44K	10x	as long as short
Lighter RH MUshort	+0.0032%	1h	1,037.6	−0.254%	$1.2M	$4.4M	10x
Extended MU_24_5-USD	+0.0032%	1h	1,036.7	−0.347%	$544K	$1.1M	10x	as long as short
QFEX MU-USD	+0.0032%	1h	1,037.2	−0.296%	$7.0M	$18.4M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.066%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,038.9	−0.134%	$70K	$230K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,037.8	−0.236%	—	$175K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,037.6	−0.257%	$176.4M	$89.1M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,037.2	−0.296%	$168K	$196K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,038.5	−0.170%	$682K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,038.9	−0.134%	$1.8M	$2.5M	10x	as long as short
Paradex MU-USD-PERP	+0.0053%	8h	1,038	−0.220%	$2K	—	5x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0058%	1h	1,038.7	−0.154%	$74K	$541K	10x	as long as short
Lighter MU	+0.0064%	1h	1,037.9	−0.229%	$1.1M	$4.9M	20x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,038.3	−0.189%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,037.8	−0.241%	$147K	$190K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,037.8	−0.241%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,039.2	−0.104%	$70K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,038.6	−0.160%	$826	$799	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0104%	1h	1,036	−0.414%	$731K	$1.3M	10x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,038.7	−0.152%	$1.4M	$2.1M	20x	as long as short
Phoenix MU	+0.0231%	1h	1,039.4	−0.084%	$532K	$270K	15x	as long as short