Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0041%/8h= +4.5% APRpaid last 24h +0.016%

Price spread now: Bybit against Lighter RH+0.054%7-day average +0.053% · you sell dearer than you buy

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$190.187% of the position

Long on Lighter RH Short on Bybit

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+0.003%$0 · spread now +0.054%, 7d avg +0.053%

Together, before fees+0.070%+ Points / potential airdropLighter RH: Points live · farm board+$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.053%, 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 RH MU	1,040.2	0.0032	pay 0.0004% / 1h	53m 20s	$1.2M	$4.5M	10x
Short	Bybit MUUSDT	1,040.7	0.0073	get 0.0073% / 8h	5h 53m	$18.8M	$32.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.054%Rate

Funding earned: $8.62
Price spread: +0.054% → +0.053%: $0.11
Slippage, 4 orders: −$7.72
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$9.99
Costs to cover: 0.187%
Break-even: 15.1 days

Slippage from Lighter RH: live order book, 3 min ago; Bybit: live order book, 3 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, 3 min ago	1.01 bp	1.6 bp −$2	4.9 bp −$49	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.63 bp	6.7 bp −$7	11.5 bp −$115	26.3 bp −$2,627	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	−0.0530%	4h	1,038.8	−0.128%	$1.3M	$694K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,040.4	+0.020%	$21.2M	$73.4M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,040.6	+0.039%	$121.7M	$555.2M	50x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,040.6	+0.043%	$29.7M	$107.9M	50x	as long as short
Gate MU_USDT	0.0000%	8h	1,040.4	+0.021%	$61.2M	$27.9M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,040.7	+0.054%	$19.9M	$43.6M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,039.5	−0.067%	$2.6M	$2.6M	—	as long as short
StandX MU-USD	0.0000%	1h	1,039.5	−0.063%	$188K	$3.7M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,042.1	+0.187%	$11K	$5.0M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,039.8	−0.037%	$36K	$717K	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	1,039.9	−0.021%	$119K	$474K	50x	as long as short
Lighter RH MUlong	+0.0032%	1h	1,040.2	long leg	$1.2M	$4.5M	10x
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.077%	$19K	$5K	12x	as long as short
Aftermath Perps MUUSD	+0.0034%	1h	1,039.1	−0.101%	$3K	$41K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,041.3	+0.113%	—	$177K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,040.1	−0.006%	$170K	$180K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,039.1	−0.098%	$1.9M	$3.2M	10x	as long as short
QFEX MU-USD	+0.0058%	1h	1,040.3	+0.011%	$7.0M	$19.2M	10x	as long as short
SoDEX MU-USD	+0.0064%	1h	1,040.6	+0.038%	$683K	$13K	10x	as long as short
Bybit MUUSDTshort	+0.0073%	8h	1,040.7	+0.054%	$18.8M	$32.3M	100x
Paradex MU-USD-PERP	+0.0079%	8h	1,040.1	−0.002%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,040.2	+0.001%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,040	−0.018%	$151K	$227K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,039.7	−0.045%	$5.2M	$5.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,040.4	+0.023%	$71K	$270K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,040.1	−0.003%	$827	$799	20x	as long as short
Nado MU-PERP	+0.0107%	1h	1,039.7	−0.042%	$277K	$842K	10x	as long as short
RISEx MU/USDC	+0.0118%	1h	1,040.5	+0.036%	$300K	$351K	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,040.1	−0.003%	$1.4M	$2.5M	20x	as long as short
Arcus MU-USD	+0.0139%	1h	1,039.8	−0.039%	$90K	$148K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0192%	1h	1,039.6	−0.059%	$727K	$1.2M	10x	as long as short
Lighter MU	+0.0200%	1h	1,040.3	+0.011%	$1.0M	$5.0M	20x	as long as short
Bullet MU-USD	+0.0204%	1h	1,040.6	+0.042%	$24K	$386K	10x	as long as short
GRVT MU_USDT_Perp	+0.0219%	8h	1,040	−0.013%	$81K	$1.4M	10x	as long as short
tradeXYZ xyz:MU	+0.0232%	1h	1,040.5	+0.033%	$177.4M	$75.6M	10x	as long as short
Phoenix MU	+0.0308%	1h	1,039.4	−0.073%	$532K	$159K	15x	as long as short
Extended MU_24_5-USD	+0.0336%	1h	1,039.5	−0.068%	$551K	$1.1M	10x	as long as short