Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0056%/8h= +6.1% APRpaid last 24h +0.020%

Price spread now: Lighter against OKX+0.002%7-day average −0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1as in the Funding arb table

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$120.124% of the position

Long on OKX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.114%+$11 on $10k

Price spread, last 7 days−0.001%$0 · spread now +0.002%, 7d avg −0.027%

Together, before fees+0.113%+ Points / potential airdropLighter: Season 3 · farm board+$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Lighter is 0.029% dearer against OKX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MU-USDT-SWAP	1,051.5	0	get 0.0000% / 8h	4h 14m	$31.2M	$99.6M	50x
Short	Lighter MU	1,051.5	0.0056	get 0.0007% / 1h	14m 36s	$1.1M	$5.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against OKX. 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 OKXbpFee LighterbpOrdersPrice spread, now +0.002%Rate

Funding earned: $11.76
Price spread: +0.002% → −0.027%: $2.86
Slippage, 4 orders: −$2.37
Fee OKX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $2.25
Costs to cover: 0.124%
Break-even: 5.7 days

Slippage from OKX: live order book, 4 min ago; Lighter: 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 OKX live order book, 4 min ago	0.05 bp	5.1 bp −$5	7.1 bp −$71	17.5 bp −$1,755	doesn't fit
Sell Lighter live order book, 3 min ago	0.47 bp	0.5 bp $0	0.5 bp −$5	22.8 bp −$2,278	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	1,052.2	+0.063%	$1.3M	$673K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,051.7	+0.019%	$21.4M	$55.0M	20x	as long as short
OKX MU-USDT-SWAPlong	0.0000%	8h	1,051.5	long leg	$31.2M	$99.6M	50x
RISEx MU/USDC	0.0000%	1h	1,051.7	+0.016%	$343K	$353K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,051.4	−0.016%	$62.3M	$27.5M	75x	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,052.3	+0.077%	$82K	$1.4M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,051.8	+0.025%	$190K	$3.4M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,051.8	+0.028%	$11K	$5.8M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,051.4	−0.009%	$131K	$434K	50x	as long as short
Variational Omni MU	+0.0003%	8h	1,051.8	+0.024%	$2.7M	$2.4M	—	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit MU_USDC-PERPETUAL	+0.0016%	1h	1,051.2	−0.027%	$72K	$440K	10x	as long as short
Aftermath Perps MUUSD	+0.0022%	1h	1,051.8	+0.027%	$3K	$45K	10x	as long as short
Bybit MUUSDT	+0.0023%	8h	1,051.7	+0.021%	$19.1M	$32.3M	100x	as long as short
Lighter RH MU	+0.0032%	1h	1,051.5	−0.002%	$1.3M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,050.7	−0.079%	$566K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	−0.015%	$19K	$5K	12x	as long as short
QFEX MU-USD	+0.0034%	1h	1,051.2	−0.030%	$7.1M	$17.9M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,051.7	+0.019%	$71K	$234K	10x	as long as short
Binance MUUSDT	+0.0042%	8h	1,051.6	+0.003%	$126.5M	$516.6M	50x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,052.6	+0.100%	—	$176K	25x	as long as short
Nado MU-PERP	+0.0048%	1h	1,051.1	−0.036%	$282K	$837K	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,051.4	−0.011%	$171K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,051.4	−0.011%	$690K	$16K	10x	as long as short
Bullet MU-USD	+0.0050%	1h	1,051.5	0.000%	$25K	$395K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,050.5	−0.094%	$1.9M	$2.2M	10x	as long as short
Paradex MU-USD-PERP	+0.0051%	8h	1,051.5	−0.005%	$2K	—	5x	as long as short
Lighter MUshort	+0.0056%	1h	1,051.5	+0.002%	$1.1M	$5.1M	20x
tradeXYZ xyz:MU	+0.0074%	1h	1,051.4	−0.011%	$178.7M	$99.0M	10x	as long as short
Bitget MUUSDT	+0.0078%	8h	1,051.7	+0.018%	$20.5M	$41.1M	50x	as long as short
Coinbase International MU-PERP-INTX	+0.0080%	1h	1,052.9	+0.130%	$759K	$1.2M	10x	as long as short
Aevo MU-PERP	+0.0096%	1h	1,051.1	−0.041%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,051.5	−0.005%	$148K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,051.2	−0.029%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,052	+0.049%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,051.4	−0.009%	$836	$799	20x	as long as short
BloFin MU-USDT	+0.0164%	8h	1,051.5	+0.001%	$1.5M	$2.0M	20x	as long as short
Phoenix MU	+0.0304%	1h	1,052.5	+0.093%	$538K	$271K	15x	as long as short