Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0160%/8h= −17.5% APRpaid last 24h −0.002%

Price spread now: Binance against Lighter+0.023%7-day average +0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$13as in the Price arb table

costs, in and out, $10k−$120.120% of the position

Long on Lighter Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.067%−$7 on $10k

Price spread, last 7 days−0.017%−$2 · spread now +0.023%, 7d avg +0.033%

Together, before fees−0.085%+ Points / potential airdropLighter: Season 3 · farm board−$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.033%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MU	1,038.4	0.0160	pay 0.0020% / 1h	28m 05s	$1.0M	$5.0M	20x
Short	Binance MUUSDT	1,038.6	0	get 0.0000% / 8h	5h 28m	$121.8M	$555.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Lighter. 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 LighterbpFee BinancebpOrdersPrice spread, now +0.023%Rate

Funding earned: −$33.6
Price spread: +0.023% → +0.033%: −$0.94
Slippage, 4 orders: −$1.96
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$46.51
Costs to cover: 0.120%
Break-even: never at this rate

Slippage from Lighter: live order book, 3 min ago; Binance: live order book, 9 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 Lighter live order book, 3 min ago	0.10 bp	0.1 bp $0	0.6 bp −$6	15.1 bp −$1,513	doesn't fit
Sell Binance live order book, 9 min ago	0.05 bp	6.1 bp −$6	7.6 bp −$76	16.5 bp −$1,652	doesn't fit

MU on 37 exchanges

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	−0.0957%	4h	1,038	−0.034%	$1.3M	$696K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,038.5	+0.007%	$21.2M	$73.6M	20x	as long as short
Binance MUUSDTshort	0.0000%	8h	1,038.6	+0.023%	$121.8M	$555.5M	50x
OKX MU-USDT-SWAP	0.0000%	8h	1,038.4	+0.002%	$29.7M	$107.1M	50x	as long as short
Gate MU_USDT	0.0000%	8h	1,038.3	−0.013%	$61.3M	$28.1M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,038.5	+0.011%	$19.8M	$43.7M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,038.4	+0.004%	$2.6M	$2.5M	—	as long as short
StandX MU-USD	0.0000%	1h	1,037.9	−0.052%	$188K	$3.7M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,040.1	+0.160%	$11K	$5.0M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,037.9	−0.050%	$33K	$732K	10x	as long as short

Show all 37 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX MU-USDT	0.0000%	8h	1,038.2	−0.017%	$119K	$473K	50x	as long as short
Lighter RH MU	+0.0032%	1h	1,038.3	−0.011%	$1.1M	$4.5M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.248%	$19K	$5K	12x	as long as short
Aftermath Perps MUUSD	+0.0036%	1h	1,038.3	−0.006%	$3K	$41K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,039.4	+0.099%	—	$177K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,038.2	−0.019%	$169K	$167K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,038.3	−0.008%	$683K	$14K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,036.7	−0.167%	$1.9M	$3.2M	10x	as long as short
QFEX MU-USD	+0.0058%	1h	1,038.4	−0.003%	$7.0M	$19.4M	10x	as long as short
Bybit MUUSDT	+0.0074%	8h	1,038.7	+0.029%	$18.9M	$32.4M	100x	as long as short
Paradex MU-USD-PERP	+0.0075%	8h	1,038.5	+0.008%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,037.9	−0.044%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,037.8	−0.059%	$151K	$228K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,038	−0.037%	$5.2M	$6.2M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,038.6	+0.019%	$70K	$270K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,038.1	−0.030%	$825	$799	20x	as long as short
GRVT MU_USDT_Perp	+0.0116%	8h	1,038.7	+0.025%	$84K	$1.4M	10x	as long as short
RISEx MU/USDC	+0.0118%	1h	1,038.4	−0.001%	$299K	$339K	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,038.6	+0.016%	$1.5M	$2.6M	20x	as long as short
Nado MU-PERP	+0.0131%	1h	1,037.9	−0.052%	$276K	$839K	10x	as long as short
Arcus MU-USD	+0.0139%	1h	1,037.7	−0.068%	$90K	$140K	10x	as long as short
Lighter MUlong	+0.0160%	1h	1,038.4	long leg	$1.0M	$5.0M	20x
Coinbase International MU-PERP-INTX	+0.0192%	1h	1,038	−0.042%	$726K	$1.2M	10x	as long as short
tradeXYZ xyz:MU	+0.0221%	1h	1,038.1	−0.029%	$177.2M	$75.5M	10x	as long as short
Bullet MU-USD	+0.0222%	1h	1,038.6	+0.019%	$25K	$383K	10x	as long as short
Extended MU_24_5-USD	+0.0248%	1h	1,037.6	−0.078%	$546K	$1.1M	10x	as long as short
Phoenix MU	+0.0308%	1h	1,038.5	+0.010%	$531K	$159K	15x	as long as short