Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%

Price spread now: SunX against Lighter RH+0.110%7-day average +0.170% · you sell dearer than you buy

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$610.606% of the position

Long on Lighter RH Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.052%−$5 on $10k

Price spread, last 3 days (all we have)+0.003%$0 · spread now +0.110%, 7d avg +0.170%

Together, before fees−0.049%+ Points / potential airdropLighter RH: Points live · farm board−$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and SunX is 0.060% cheaper against Lighter RH than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.170%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH MU	1,050.4	0.0032	pay 0.0004% / 1h	0m 57s	$1.2M	$4.2M	10x
Short	SunX MU-USDT	1,051.6	0	get 0.0000% / 8h	7h 00m	$11K	$6.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.110%Rate

Funding earned: −$6.72
Price spread: +0.110% → +0.170%: −$5.97
Slippage, 4 orders: −$52.6
Fee Lighter RH: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$73.28
Costs to cover: 0.606%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 2 min ago; SunX: live order book, 8 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	0.05 bp	2.1 bp −$2	5.0 bp −$50	doesn't fit	doesn't fit
Sell SunX live order book, 8 min ago	21.57 bp	32.7 bp −$33	doesn't fit	doesn't fit	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	−0.0387%	4h	1,050.6	+0.019%	$1.3M	$672K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,050.3	−0.008%	$62.6M	$29.1M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,050	−0.044%	$190K	$3.3M	20x	as long as short
SunX MU-USDTshort	0.0000%	8h	1,051.6	+0.110%	$11K	$6.1M	10x
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,050.1	−0.030%	$65K	$314K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,050.1	−0.030%	$129K	$424K	50x	as long as short
Aftermath Perps MUUSD	+0.0022%	1h	1,050.5	+0.005%	$3K	$45K	10x	as long as short
Lighter RH MUlong	+0.0032%	1h	1,050.4	long leg	$1.2M	$4.2M	10x
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.090%	$19K	$5K	12x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,051.5	+0.103%	—	$179K	25x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MU	+0.0048%	1h	1,050.4	−0.001%	$1.1M	$4.8M	20x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,050.3	−0.010%	$171K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,050.4	−0.001%	$689K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,049.8	−0.062%	$1.9M	$2.3M	10x	as long as short
QFEX MU-USD	+0.0054%	1h	1,050.4	−0.003%	$7.6M	$21.0M	10x	as long as short
Paradex MU-USD-PERP	+0.0082%	8h	1,050.4	−0.003%	$2K	—	5x	as long as short
Nado MU-PERP	+0.0082%	1h	1,050.2	−0.024%	$274K	$857K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,050.1	−0.031%	$149K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,050.3	−0.013%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,050.5	+0.010%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050.5	+0.010%	$835	$799	20x	as long as short
OKX MU-USDT-SWAP	+0.0104%	8h	1,051.3	+0.080%	$30.9M	$101.6M	50x	as long as short
Aevo MU-PERP	+0.0152%	1h	1,050.3	−0.013%	$32K	$1K	10x	as long as short
Bullet MU-USD	+0.0161%	1h	1,050.5	+0.008%	$26K	$396K	10x	as long as short
Bybit MUUSDT	+0.0172%	8h	1,051.2	+0.077%	$19.4M	$32.6M	100x	as long as short
Coinbase International MU-PERP-INTX	+0.0184%	1h	1,050.5	+0.007%	$762K	$1.2M	10x	as long as short
tradeXYZ xyz:MU	+0.0189%	1h	1,050.3	−0.010%	$178.4M	$100.2M	10x	as long as short
Arcus MU-USD	+0.0240%	1h	1,050.7	+0.030%	$71K	$242K	10x	as long as short
Extended MU_24_5-USD	+0.0248%	1h	1,050	−0.040%	$559K	$1.2M	10x	as long as short
Variational Omni MU	+0.0260%	8h	1,050.4	−0.005%	$2.7M	$2.4M	—	as long as short
Aster MUUSD1	+0.0268%	8h	1,050.8	+0.041%	$21.6M	$48.4M	20x	as long as short
Binance MUUSDT	+0.0272%	8h	1,050.9	+0.044%	$126.1M	$521.9M	50x	as long as short
RISEx MU/USDC	+0.0312%	1h	1,050.4	+0.003%	$316K	$340K	20x	as long as short
Phoenix MU	+0.0383%	1h	1,050.9	+0.047%	$538K	$306K	15x	as long as short
BloFin MU-USDT	+0.0392%	8h	1,050.6	+0.016%	$1.5M	$2.0M	20x	as long as short
Bitget MUUSDT	+0.0411%	8h	1,050.5	+0.007%	$20.5M	$41.6M	50x	as long as short
GRVT MU_USDT_Perp	+0.0582%	8h	1,051.5	+0.104%	$83K	$1.3M	10x	as long as short