Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h −0.001%

Price spread now: Lighter against KuCoin+0.040%7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$340.340% of the position

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.062%+$6 on $10k

Price spread, last 7 days−0.027%−$3 · spread now +0.040%, 7d avg +0.013%

Together, before fees+0.035%+ Points / potential airdropLighter: Season 3 · farm board+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.027% dearer against KuCoin than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MUUSDTM	1,042.3	0.0100	pay 0.0100% / 8h	2h 47m	$5.2M	$3.4M	20x
Short	Lighter MU	1,042.7	0.0120	get 0.0015% / 1h	47m 55s	$1.1M	$4.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. 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 KuCoinbpFee LighterbpOrdersPrice spread, now +0.040%Rate

Funding earned: $4.2
Price spread: +0.040% → +0.013%: $2.69
Slippage, 4 orders: −$22.02
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$27.13
Costs to cover: 0.340%
Break-even: 52.2 days

Slippage from KuCoin: live order book, 5 min ago; Lighter: live order book, 5 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 KuCoin live order book, 5 min ago	3.79 bp	16.4 bp −$16	45.6 bp −$456	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	0.05 bp	0.6 bp −$1	2.5 bp −$25	20.0 bp −$1,997	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	−0.0859%	4h	1,043	+0.069%	$1.3M	$672K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,042.7	+0.035%	$21.2M	$57.2M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,042.1	−0.020%	$122.9M	$525.5M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,042.3	+0.001%	$18.6M	$32.0M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,042.1	−0.019%	$30.4M	$99.9M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,043.3	+0.100%	$337K	$354K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,042.1	−0.018%	$61.9M	$27.9M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,042.5	+0.023%	$20.4M	$41.1M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,043.4	+0.107%	$2.7M	$2.4M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,043.6	+0.126%	$83K	$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	1,043.6	+0.129%	$189K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,044.3	+0.194%	$11K	$5.7M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,042.4	+0.005%	$73K	$502K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,042.8	+0.045%	$128K	$440K	50x	as long as short
Nado MU-PERP	+0.0005%	1h	1,043	+0.063%	$281K	$820K	10x	as long as short
Bullet MU-USD	+0.0013%	1h	1,042.9	+0.055%	$26K	$392K	10x	as long as short
Aftermath Perps MUUSD	+0.0019%	1h	1,042.8	+0.050%	$3K	$44K	10x	as long as short
QFEX MU-USD	+0.0023%	1h	1,043	+0.068%	$7.0M	$18.0M	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,042.6	+0.025%	$1.2M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,041.7	−0.062%	$546K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.869%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,042.8	+0.051%	$70K	$232K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,043.3	+0.091%	—	$176K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,042.1	−0.019%	$177.1M	$93.5M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,042.6	+0.029%	$169K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,042.6	+0.031%	$684K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,043.1	+0.081%	$1.9M	$2.3M	10x	as long as short
Paradex MU-USD-PERP	+0.0051%	8h	1,043.1	+0.081%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,042.3	0.000%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,042.9	+0.054%	$147K	$186K	10x	as long as short
KuCoin MUUSDTMlong	+0.0100%	8h	1,042.3	long leg	$5.2M	$3.4M	20x
ApeX Omni MUUSDT	+0.0100%	1h	1,043.3	+0.093%	$71K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,042.6	+0.031%	$829	$799	20x	as long as short
Lighter MUshort	+0.0120%	1h	1,042.7	+0.040%	$1.1M	$4.9M	20x
BloFin MU-USDT	+0.0120%	8h	1,043.1	+0.076%	$1.5M	$2.0M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0144%	1h	1,043.3	+0.098%	$745K	$1.2M	10x	as long as short
Phoenix MU	+0.0231%	1h	1,043	+0.067%	$534K	$270K	15x	as long as short