Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0088%/8h= +9.6% APRpaid last 24h +0.055%

Price spread now: BloFin against Lighter RH−0.055%91s7-day average +0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs+$20as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$150.154% of the position

Long on Lighter RH Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.352%+$35 on $10k

Price spread, last 4 days (all we have)+0.055%+$6 · spread now −0.055%, 7d avg +0.034%

Together, before fees+0.407%+ Points / potential airdropLighter RH: Points live · farm board+$41 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.089% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.055% now, against its 7-day average of +0.034%). If the spread goes back, that is −$9 on $10k: about 3.4 days of funding at the current rate (+$3 a day). The two prices were read 91 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH MU	1,039.3	0.0032	pay 0.0004% / 1h	21m 49s	$1.2M	$4.4M	10x
Short	BloFin MU-USDT	1,038.8	0.0120	get 0.0120% / 8h	1h 21m	$1.5M	$2.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Lighter RH. 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 Lighter RHbpFee BloFinbpOrdersPrice spread, now −0.055%Rate

Funding earned: $18.48
Price spread: −0.055% → +0.034%: −$8.89
Slippage, 4 orders: −$3.35
Fee Lighter RH: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$5.76
Costs to cover: 0.154%
Break-even: 9.2 days

Slippage from Lighter RH: live order book, 2 min ago; BloFin: live order book, 6 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 RH live order book, 2 min ago	0.67 bp	1.9 bp −$2	5.0 bp −$50	doesn't fit	doesn't fit
Sell BloFin live order book, 6 min ago	0.05 bp	6.3 bp −$6	7.4 bp −$74	14.4 bp −$1,440	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	−0.0957%	4h	1,037.7	−0.158%	$1.3M	$672K	10x	as long as short
Bitget MUUSDT	−0.0198%	8h	1,039.3	−0.007%	$20.2M	$40.4M	50x	as long as short
Nado MU-PERP	−0.0005%	1h	1,039	−0.031%	$279K	$815K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,039.7	+0.038%	$21.1M	$60.0M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,039.4	+0.003%	$122.1M	$538.1M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,039.4	+0.007%	$18.7M	$32.3M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,039.3	−0.002%	$29.9M	$100.2M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,039.1	−0.027%	$313K	$387K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,039	−0.030%	$61.7M	$28.6M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,038.1	−0.118%	$2.5M	$2.6M	—	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MU_USDT_Perp	0.0000%	8h	1,037.9	−0.137%	$83K	$1.4M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,038.4	−0.089%	$188K	$3.5M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,039	−0.033%	$25K	$390K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,040.4	+0.102%	$11K	$5.6M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,038.7	−0.066%	$74K	$568K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,038.5	−0.077%	$128K	$441K	50x	as long as short
Aftermath Perps MUUSD	+0.0012%	1h	1,037.5	−0.173%	$3K	$44K	10x	as long as short
Lighter MU	+0.0032%	1h	1,039.5	+0.018%	$1.1M	$4.9M	20x	as long as short
Lighter RH MUlong	+0.0032%	1h	1,039.3	long leg	$1.2M	$4.4M	10x
Extended MU_24_5-USD	+0.0032%	1h	1,039	−0.038%	$537K	$1.1M	10x	as long as short
QFEX MU-USD	+0.0032%	1h	1,038.9	−0.044%	$7.0M	$18.6M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.157%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,037.8	−0.149%	$70K	$230K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,039.2	−0.013%	—	$175K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,039.1	−0.023%	$176.5M	$86.7M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,038.8	−0.052%	$169K	$195K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,038.8	−0.056%	$682K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,037.8	−0.150%	$1.8M	$2.7M	10x	as long as short
Paradex MU-USD-PERP	+0.0052%	8h	1,039.3	−0.005%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,038.4	−0.089%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,039.1	−0.020%	$147K	$190K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,038.4	−0.088%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,037.6	−0.167%	$70K	$270K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,038.7	−0.066%	$826	$799	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0104%	1h	1,036	−0.319%	$731K	$1.2M	10x	as long as short
BloFin MU-USDTshort	+0.0120%	8h	1,038.8	−0.055%	$1.5M	$2.1M	20x
Phoenix MU	+0.0231%	1h	1,038.1	−0.119%	$531K	$270K	15x	as long as short