Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.029%

Price spread now: HTX against Lighter+0.034%7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$220.218% of the position

Long on Lighter Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.241%−$24 on $10k

Price spread, last 3 days (all we have)+0.005%$0 · spread now +0.034%, 7d avg +0.015%

Together, before fees−0.236%+ Points / potential airdropLighter: Season 3 · farm board−$24 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.015%, so right now this pair is about funding alone: −$1 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	1,049.5	0.0032	pay 0.0004% / 1h	16m 01s	$1.1M	$4.8M	20x
Short	HTX MU-USDT	1,049.9	0	get 0.0000% / 8h	6h 16m	$129K	$425K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.034%Rate

Funding earned: −$6.72
Price spread: +0.034% → +0.015%: $1.89
Slippage, 4 orders: −$9.81
Fee Lighter: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$26.64
Costs to cover: 0.218%
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; HTX: live order book, 52 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, 7 min ago	0.33 bp	0.5 bp $0	1.9 bp −$19	16.2 bp −$1,618	doesn't fit
Sell HTX live order book, 52 min ago	3.09 bp	9.8 bp −$10	11.0 bp −$110	25.9 bp −$2,588	doesn't fit

MU on 36 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	−0.0876%	4h	1,049.5	−0.002%	$1.3M	$672K	10x	as long as short
Nado MU-PERP	−0.0006%	1h	1,049.5	−0.003%	$277K	$854K	10x	as long as short
Bybit MUUSDT	0.0000%	8h	1,050	+0.050%	$19.2M	$32.6M	100x	as long as short
Gate MU_USDT	0.0000%	8h	1,049.7	+0.021%	$62.0M	$27.7M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,049.6	+0.009%	$190K	$3.4M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,050	+0.043%	$25K	$394K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,051.1	+0.151%	$11K	$6.0M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,049.6	+0.009%	$66K	$340K	10x	as long as short
HTX MU-USDTshort	0.0000%	8h	1,049.9	+0.034%	$129K	$425K	50x
Aftermath Perps MUUSD	+0.0017%	1h	1,049.6	+0.004%	$3K	$45K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MUlong	+0.0032%	1h	1,049.5	long leg	$1.1M	$4.8M	20x
Lighter RH MU	+0.0032%	1h	1,049.5	−0.005%	$1.1M	$4.2M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,049.3	−0.025%	$567K	$1.1M	10x	as long as short
QFEX MU-USD	+0.0040%	1h	1,049.8	+0.026%	$7.4M	$19.3M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,049.7	+0.013%	$71K	$236K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,050.7	+0.114%	—	$177K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,049.5	−0.001%	$178.1M	$99.6M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,049.6	+0.009%	$170K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,049.5	+0.002%	$689K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,048.8	−0.066%	$1.9M	$2.3M	10x	as long as short
OKX MU-USDT-SWAP	+0.0051%	8h	1,049.9	+0.041%	$30.8M	$100.5M	50x	as long as short
GRVT MU_USDT_Perp	+0.0056%	8h	1,049.8	+0.029%	$81K	$1.3M	10x	as long as short
Paradex MU-USD-PERP	+0.0061%	8h	1,049.9	+0.038%	$2K	—	5x	as long as short
Pacifica MU	+0.0100%	1h	1,049.5	−0.005%	$148K	$187K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,049.6	+0.006%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,049.9	+0.033%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,049.9	+0.032%	$835	$799	20x	as long as short
Injective MU/USDC PERP	+0.0107%	1h	1,051.4	+0.176%	$19K	$5K	12x	as long as short
Aevo MU-PERP	+0.0128%	1h	1,049.6	+0.008%	$32K	$1K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0128%	1h	1,050.3	+0.073%	$757K	$1.2M	10x	as long as short
Aster MUUSD1	+0.0149%	8h	1,049.3	−0.025%	$21.6M	$51.7M	20x	as long as short
Variational Omni MU	+0.0171%	8h	1,049.8	+0.028%	$2.7M	$2.4M	—	as long as short
Binance MUUSDT	+0.0191%	8h	1,049.8	+0.030%	$126.4M	$523.2M	50x	as long as short
Bitget MUUSDT	+0.0230%	8h	1,049.9	+0.039%	$20.6M	$42.0M	50x	as long as short
Phoenix MU	+0.0304%	1h	1,050.3	+0.075%	$537K	$273K	15x	as long as short
RISEx MU/USDC	+0.0507%	1h	1,050	+0.048%	$334K	$348K	20x	as long as short