Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.029%

Price spread now: Gate against Lighter−0.038%7-day average +0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$250.246% of the position

Long on Lighter Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.233%−$23 on $10k

Price spread, last 7 days+0.039%+$4 · spread now −0.038%, 7d avg +0.005%

Together, before fees−0.194%+ Points / potential airdropLighter: Season 3 · farm board−$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Gate is 0.043% cheaper against Lighter than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.005%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MU	1,039.3	0.0104	pay 0.0013% / 1h	13m 38s	$1.0M	$5.0M	20x
Short	Gate MU_USDT	1,038.9	0	get 0.0000% / 8h	2h 13m	$61.5M	$28.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.038%Rate

Funding earned: −$21.84
Price spread: −0.038% → +0.005%: −$4.31
Slippage, 4 orders: −$9.55
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$50.7
Costs to cover: 0.246%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 min ago; Gate: 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 Lighter live order book, 4 min ago	0.43 bp	0.4 bp $0	1.8 bp −$18	15.0 bp −$1,501	doesn't fit
Sell Gate live order book, 5 min ago	0.82 bp	11.5 bp −$12	18.2 bp −$182	33.5 bp −$3,347	57.6 bp −$28.8K

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
Bitget MUUSDT	−0.0162%	8h	1,039.2	−0.010%	$20.3M	$41.2M	50x	as long as short
edgeX MUUSDC	−0.0146%	4h	1,036.6	−0.252%	$1.3M	$673K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,038.8	−0.044%	$21.1M	$57.2M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,039.1	−0.017%	$122.0M	$534.8M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,039.2	−0.005%	$18.6M	$32.1M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,039	−0.027%	$29.9M	$101.0M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,039.2	−0.005%	$315K	$383K	20x	as long as short
Gate MU_USDTshort	0.0000%	8h	1,038.9	−0.038%	$61.5M	$28.5M	75x
Variational Omni MU	0.0000%	8h	1,036.4	−0.275%	$2.5M	$2.5M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,037.6	−0.157%	$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	1,036.8	−0.241%	$187K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,040	+0.073%	$11K	$5.7M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,039.1	−0.012%	$127K	$449K	50x	as long as short
Aftermath Perps MUUSD	+0.0015%	1h	1,036.5	−0.266%	$3K	$44K	10x	as long as short
QFEX MU-USD	+0.0023%	1h	1,039	−0.022%	$7.0M	$18.2M	10x	as long as short
Nado MU-PERP	+0.0024%	1h	1,037.3	−0.191%	$277K	$818K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,039.1	−0.015%	$1.2M	$4.6M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,038.4	−0.080%	$538K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.165%	$19K	$5K	12x	as long as short
Bullet MU-USD	+0.0037%	1h	1,038.5	−0.068%	$25K	$389K	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,037.3	−0.187%	$70K	$231K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,037.7	−0.150%	—	$175K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,038.9	−0.034%	$176.7M	$91.9M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,038.1	−0.111%	$168K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,037.8	−0.137%	$681K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,037.1	−0.212%	$1.9M	$2.5M	10x	as long as short
Paradex MU-USD-PERP	+0.0054%	8h	1,039.2	−0.007%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,038.3	−0.091%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,038.5	−0.077%	$147K	$189K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,038.6	−0.066%	$5.2M	$3.8M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,036.7	−0.248%	$70K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,038	−0.121%	$825	$799	20x	as long as short
Lighter MUlong	+0.0104%	1h	1,039.3	long leg	$1.0M	$5.0M	20x
BloFin MU-USDT	+0.0120%	8h	1,037.5	−0.170%	$1.5M	$2.0M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0144%	1h	1,036	−0.316%	$731K	$1.3M	10x	as long as short
Phoenix MU	+0.0231%	1h	1,037.1	−0.207%	$530K	$270K	15x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0241%	1h	1,038.8	−0.039%	$74K	$526K	10x	as long as short