MU

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0150%/8h= +16.4% APRnext payment +$0.19 per $10,000 · paid last 24h +0.009%

Price spread now: Lighter against Polymarket Perps−0.001%7-day average +0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$8as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$200.200% of the position

Long on Polymarket Perps Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.125%+$12 on $10k

Price spread, last 4 days (all we have)+0.051%+$5 · spread now −0.001%, 7d avg +0.028%

Together, before fees+0.176%+ Points / potential airdropLighter: Season 3 · farm board+$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.029% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.001% now, against its 7-day average of +0.028%). If the spread goes back, that is −$3 on $10k: about 16 hours of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.125% in total) that is about 39 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps MU-USD	1,040.1	0.0050	pay 0.0006% / 1h	53m 55s	$170K	$180K	10x
Short	Lighter MU	1,040.1	0.0200	get 0.0025% / 1h	53m 55s	$1.0M	$5.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Polymarket Perps. 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 Polymarket PerpsbpFee LighterbpOrdersPrice spread, now −0.001%Rate

Funding earned: $31.5
Price spread: −0.001% → +0.028%: −$2.91
Slippage, 4 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $8.59
Costs to cover: 0.200%
Break-even: 5.1 days

Slippage from Polymarket Perps: live order book, 56 min ago; Lighter: live order book, 7 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 Polymarket Perps live order book, 56 min ago	3.88 bp	9.1 bp −$9	9.7 bp −$97	doesn't fit	doesn't fit
Sell Lighter live order book, 7 min ago	1.15 bp	1.2 bp −$1	1.9 bp −$19	22.8 bp −$2,281	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	−0.122%	$1.3M	$694K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,040.3	+0.023%	$21.2M	$73.4M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,040.4	+0.024%	$121.7M	$555.2M	50x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,040.4	+0.026%	$29.7M	$107.8M	50x	as long as short
Gate MU_USDT	0.0000%	8h	1,040.2	+0.009%	$61.2M	$27.9M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,040.4	+0.024%	$19.9M	$43.6M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,039.5	−0.062%	$2.6M	$2.6M	—	as long as short
StandX MU-USD	0.0000%	1h	1,039.1	−0.092%	$188K	$3.7M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,041.9	+0.174%	$11K	$5.0M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,039.5	−0.058%	$37K	$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	−0.015%	$119K	$474K	50x	as long as short
Lighter RH MU	+0.0032%	1h	1,040	−0.009%	$1.2M	$4.5M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.083%	$19K	$5K	12x	as long as short
Aftermath Perps MUUSD	+0.0034%	1h	1,039.1	−0.099%	$3K	$41K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,041	+0.087%	—	$177K	25x	as long as short
Polymarket Perps MU-USDlong	+0.0050%	1h	1,040.1	long leg	$170K	$180K	10x
SoDEX MU-USD	+0.0050%	1h	1,040.1	−0.005%	$683K	$13K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,039.1	−0.092%	$1.9M	$3.2M	10x	as long as short
QFEX MU-USD	+0.0058%	1h	1,039.9	−0.017%	$7.0M	$19.3M	10x	as long as short
Bybit MUUSDT	+0.0072%	8h	1,040.6	+0.043%	$18.8M	$32.3M	100x	as long as short
Paradex MU-USD-PERP	+0.0079%	8h	1,040	−0.011%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,039.8	−0.032%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,039.5	−0.062%	$151K	$227K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,039.6	−0.050%	$5.2M	$5.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,038.5	−0.152%	$70K	$270K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,039.9	−0.016%	$827	$799	20x	as long as short
Nado MU-PERP	+0.0101%	1h	1,039.4	−0.066%	$277K	$842K	10x	as long as short
RISEx MU/USDC	+0.0118%	1h	1,040.3	+0.020%	$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	1,039.6	−0.052%	$90K	$148K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0192%	1h	1,039.6	−0.053%	$727K	$1.2M	10x	as long as short
Bullet MU-USD	+0.0197%	1h	1,040.3	+0.022%	$24K	$386K	10x	as long as short
Lighter MUshort	+0.0200%	1h	1,040.1	−0.001%	$1.0M	$5.0M	20x
GRVT MU_USDT_Perp	+0.0218%	8h	1,039.5	−0.062%	$81K	$1.4M	10x	as long as short
tradeXYZ xyz:MU	+0.0224%	1h	1,040.1	0.000%	$177.4M	$75.6M	10x	as long as short
Phoenix MU	+0.0310%	1h	1,039.4	−0.067%	$532K	$159K	15x	as long as short
Extended MU_24_5-USD	+0.0336%	1h	1,039.4	−0.070%	$551K	$1.1M	10x	as long as short