Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.5% APRpaid last 24h −0.008%

Price spread now: Bybit against Lighter+0.034%7-day average +0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$170.169% of the position

Long on Lighter Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.125%−$13 on $10k

Price spread, last 7 days−0.041%−$4 · spread now +0.034%, 7d avg +0.030%

Together, before fees−0.166%+ Points / potential airdropLighter: Season 3 · farm board−$17 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MU	1,042.4	0.0192	pay 0.0024% / 1h	9m 14s	$998K	$4.8M	20x
Short	Bybit MUUSDT	1,042.7	0.0188	get 0.0188% / 8h	2h 09m	$19.1M	$32.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.034%Rate

Funding earned: −$0.86
Price spread: +0.034% → +0.030%: $0.33
Slippage, 4 orders: −$5.89
Fee Lighter: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$17.42
Costs to cover: 0.169%
Break-even: never at this rate

Slippage from Lighter: live order book, 9 min ago; Bybit: live order book, 10 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, 9 min ago	0.72 bp	0.9 bp −$1	3.2 bp −$32	25.8 bp −$2,577	doesn't fit
Sell Bybit live order book, 10 min ago	0.05 bp	7.3 bp −$7	11.2 bp −$112	26.8 bp −$2,679	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	−0.0291%	4h	1,043	+0.061%	$1.3M	$672K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,043	+0.058%	$21.5M	$46.4M	20x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,042.5	+0.013%	$30.7M	$104.2M	50x	as long as short
Gate MU_USDT	0.0000%	8h	1,042.4	+0.006%	$62.9M	$29.1M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,042.6	+0.025%	$188K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,044.5	+0.205%	$11K	$6.7M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,042.5	+0.013%	$125K	$442K	50x	as long as short
Aftermath Perps MUUSD	+0.0028%	1h	1,042.6	+0.026%	$3K	$44K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,042.3	−0.003%	$1.1M	$4.3M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.800%	$14K	$302	12x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest MU-USD-PERP	+0.0046%	1h	1,042.2	−0.013%	—	$193K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,042.2	−0.016%	$165K	$180K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,042.5	+0.008%	$684K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,041.4	−0.092%	$2.0M	$2.6M	10x	as long as short
QFEX MU-USD	+0.0057%	1h	1,042.6	+0.019%	$7.8M	$24.1M	10x	as long as short
Bitget MUUSDT	+0.0072%	8h	1,042.4	+0.006%	$20.4M	$42.9M	50x	as long as short
Variational Omni MU	+0.0082%	8h	1,043	+0.060%	$2.7M	$2.7M	—	as long as short
Pacifica MU	+0.0100%	1h	1,041.9	−0.048%	$153K	$182K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,042.2	−0.014%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,041.9	−0.045%	$71K	$267K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,042.6	+0.019%	$829	$799	20x	as long as short
Aevo MU-PERP	+0.0104%	1h	1,042.4	0.000%	$33K	—	10x	as long as short
Binance MUUSDT	+0.0107%	8h	1,042.6	+0.025%	$124.7M	$540.4M	50x	as long as short
Paradex MU-USD-PERP	+0.0118%	8h	1,042.5	+0.013%	$2K	—	5x	as long as short
Coinbase International MU-PERP-INTX	+0.0152%	1h	1,043.8	+0.139%	$756K	$1.4M	10x	as long as short
GRVT MU_USDT_Perp	+0.0176%	8h	1,043.2	+0.077%	$82K	$1.4M	10x	as long as short
Bybit MUUSDTshort	+0.0188%	8h	1,042.7	+0.034%	$19.1M	$32.5M	100x
Lighter MUlong	+0.0192%	1h	1,042.4	long leg	$998K	$4.8M	20x
Nado MU-PERP	+0.0194%	1h	1,041.7	−0.066%	$306K	$845K	10x	as long as short
RISEx MU/USDC	+0.0202%	1h	1,042.8	+0.044%	$285K	$333K	20x	as long as short
tradeXYZ xyz:MU	+0.0212%	1h	1,042.4	+0.003%	$176.2M	$107.2M	10x	as long as short
Arcus MU-USD	+0.0226%	1h	1,042.4	0.000%	$63K	$230K	10x	as long as short
BloFin MU-USDT	+0.0227%	8h	1,043	+0.062%	$1.5M	$2.1M	20x	as long as short
Phoenix MU	+0.0230%	1h	1,043.3	+0.089%	$534K	$303K	15x	as long as short
Bullet MU-USD	+0.0231%	1h	1,042.7	+0.032%	$25K	$400K	10x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0268%	1h	1,042.5	+0.008%	$59K	$229K	10x	as long as short
Extended MU_24_5-USD	+0.0696%	1h	1,041.7	−0.066%	$540K	$1.1M	10x	as long as short