Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.029%

Price spread now: Lighter against HTX−0.041%7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs+$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$210.206% of the position

Long on HTX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.243%+$24 on $10k

Price spread, last 3 days (all we have)−0.003%$0 · spread now −0.041%, 7d avg −0.016%

Together, before fees+0.240%+ Points / potential airdropLighter: Season 3 · farm board+$24 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.025% cheaper against HTX than usual: you would sell low and buy high (spread −0.041% now, against its 7-day average of −0.016%). If the spread goes back, that is −$2 on $10k: about 2.6 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.243% in total) that is about 17 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX MU-USDT	1,048.7	0	get 0.0000% / 8h	7h 34m	$129K	$426K	50x
Short	Lighter MU	1,048.3	0.0032	get 0.0004% / 1h	34m 32s	$1.1M	$4.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against HTX. 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 HTXbpFee LighterbpOrdersPrice spread, now −0.041%Rate

Funding earned: $6.72
Price spread: −0.041% → −0.016%: −$2.5
Slippage, 4 orders: −$8.6
Fee HTX: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$16.38
Costs to cover: 0.206%
Break-even: 24.1 days

Slippage from HTX: live order book, 39 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 HTX live order book, 39 min ago	1.72 bp	10.3 bp −$10	14.8 bp −$148	20.1 bp −$2,006	doesn't fit
Sell Lighter live order book, 3 min ago	0.29 bp	0.3 bp $0	1.4 bp −$14	20.4 bp −$2,043	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	−0.0674%	4h	1,050.2	+0.144%	$1.3M	$672K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,048.3	−0.042%	$62.7M	$28.8M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,048.5	−0.014%	$190K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,050.8	+0.205%	$11K	$6.2M	10x	as long as short
HTX MU-USDTlong	0.0000%	8h	1,048.7	long leg	$129K	$426K	50x
Aftermath Perps MUUSD	+0.0022%	1h	1,049	+0.028%	$3K	$45K	10x	as long as short
Lighter MUshort	+0.0032%	1h	1,048.3	−0.041%	$1.1M	$4.8M	20x
Lighter RH MU	+0.0032%	1h	1,048.3	−0.042%	$1.2M	$4.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.255%	$19K	$5K	12x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,049.2	+0.049%	—	$179K	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	1,048.2	−0.047%	$170K	$202K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,047.3	−0.133%	$1.9M	$2.3M	10x	as long as short
QFEX MU-USD	+0.0054%	1h	1,048.2	−0.051%	$7.8M	$22.8M	10x	as long as short
Nado MU-PERP	+0.0076%	1h	1,047.7	−0.091%	$274K	$858K	10x	as long as short
Paradex MU-USD-PERP	+0.0092%	8h	1,048.3	−0.038%	$2K	—	5x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0093%	1h	1,048.5	−0.022%	$63K	$299K	10x	as long as short
OKX MU-USDT-SWAP	+0.0096%	8h	1,048.5	−0.023%	$30.8M	$101.9M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,048.2	−0.043%	$148K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,048.4	−0.027%	$5.3M	$3.6M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,049.8	+0.110%	$71K	$267K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,048.7	+0.004%	$834	$799	20x	as long as short
SoDEX MU-USD	+0.0103%	1h	1,048.4	−0.025%	$688K	$16K	10x	as long as short
Aevo MU-PERP	+0.0136%	1h	1,048.7	+0.002%	$32K	$1K	10x	as long as short
Bybit MUUSDT	+0.0157%	8h	1,048.7	+0.003%	$19.1M	$32.5M	100x	as long as short
Coinbase International MU-PERP-INTX	+0.0184%	1h	1,049.8	+0.107%	$760K	$1.2M	10x	as long as short
Variational Omni MU	+0.0210%	8h	1,049.5	+0.077%	$2.7M	$2.4M	—	as long as short
Aster MUUSD1	+0.0216%	8h	1,048.9	+0.017%	$21.6M	$48.3M	20x	as long as short
Binance MUUSDT	+0.0222%	8h	1,048.4	−0.027%	$125.8M	$524.2M	50x	as long as short
Arcus MU-USD	+0.0240%	1h	1,049.2	+0.051%	$71K	$243K	10x	as long as short
Bullet MU-USD	+0.0264%	1h	1,048.6	−0.011%	$26K	$395K	10x	as long as short
tradeXYZ xyz:MU	+0.0304%	1h	1,048.3	−0.037%	$177.8M	$101.1M	10x	as long as short
RISEx MU/USDC	+0.0312%	1h	1,048.6	−0.010%	$315K	$339K	20x	as long as short
Bitget MUUSDT	+0.0331%	8h	1,048.3	−0.036%	$20.6M	$41.6M	50x	as long as short
BloFin MU-USDT	+0.0342%	8h	1,049.1	+0.043%	$1.5M	$2.0M	20x	as long as short
Phoenix MU	+0.0383%	1h	1,050.3	+0.154%	$537K	$306K	15x	as long as short
Extended MU_24_5-USD	+0.0448%	1h	1,047.5	−0.113%	$568K	$1.2M	10x	as long as short
GRVT MU_USDT_Perp	+0.0639%	8h	1,050.2	+0.147%	$83K	$1.4M	10x	as long as short