Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h −0.010%

Price spread now: Lighter RH against Variational Omni+0.051%7-day average −0.046% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.040%−$4 on $10k

Price spread, last 7 days−0.089%−$9 · spread now +0.051%, 7d avg −0.046%

Together, before fees−0.129%+ Points / potential airdropVariational Omni: Active · Lighter RH: Points live · farm board−$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter RH is 0.097% dearer against Variational Omni than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MU	1,040	0	get 0.0000% / 8h	5h 08m	$2.6M	$2.6M	—
Short	Lighter RH MU	1,040.5	0.0032	get 0.0004% / 1h	8m 21s	$1.2M	$4.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee Lighter RHbpOrdersPrice spread, now +0.051%Rate

Funding earned: $6.72
Price spread: +0.051% → −0.046%: $9.71
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter RH: 0 bp × 2 orders: $0
Net: $16.43
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Lighter RH: live order book, 3 min ago. Net counts fees only.

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 Variational Omni RFQ quote, 4 min ago	1.92 bp	doesn't fit	8.2 bp −$82	doesn't fit	doesn't fit
Sell Lighter RH live order book, 3 min ago	2.07 bp	2.5 bp −$2	4.0 bp −$40	doesn't fit	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	−0.0211%	4h	1,039.9	−0.014%	$1.3M	$694K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,040.7	+0.068%	$21.2M	$73.6M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,040.8	+0.075%	$122.3M	$555.4M	50x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,040.6	+0.061%	$29.8M	$107.3M	50x	as long as short
Gate MU_USDT	0.0000%	8h	1,040.4	+0.041%	$61.4M	$28.2M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,040.6	+0.060%	$19.8M	$43.7M	50x	as long as short
Variational Omni MUlong	0.0000%	8h	1,040	long leg	$2.6M	$2.6M	—
StandX MU-USD	0.0000%	1h	1,039.6	−0.037%	$188K	$3.7M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,042.1	+0.200%	$11K	$5.0M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,039.8	−0.022%	$33K	$729K	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	1,040.3	+0.030%	$119K	$473K	50x	as long as short
Lighter RH MUshort	+0.0032%	1h	1,040.5	+0.051%	$1.2M	$4.5M	10x
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.092%	$19K	$5K	12x	as long as short
Aftermath Perps MUUSD	+0.0037%	1h	1,039.8	−0.021%	$3K	$41K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,041.6	+0.152%	—	$177K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,040.5	+0.048%	$170K	$163K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,040.5	+0.050%	$684K	$14K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,039.2	−0.075%	$1.9M	$3.2M	10x	as long as short
QFEX MU-USD	+0.0058%	1h	1,040.5	+0.052%	$7.0M	$19.4M	10x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,040.2	+0.021%	$32K	$1K	10x	as long as short
Paradex MU-USD-PERP	+0.0082%	8h	1,040.6	+0.057%	$2K	—	5x	as long as short
Bybit MUUSDT	+0.0097%	8h	1,040.8	+0.081%	$18.9M	$32.3M	100x	as long as short
Pacifica MU	+0.0100%	1h	1,040.2	+0.015%	$152K	$228K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,040	+0.004%	$5.2M	$6.3M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,040.2	+0.016%	$71K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,040.5	+0.051%	$827	$799	20x	as long as short
RISEx MU/USDC	+0.0118%	1h	1,040.8	+0.075%	$299K	$334K	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,040.7	+0.064%	$1.5M	$2.7M	20x	as long as short
Arcus MU-USD	+0.0139%	1h	1,040.2	+0.020%	$90K	$160K	10x	as long as short
Nado MU-PERP	+0.0142%	1h	1,040.1	+0.009%	$276K	$836K	10x	as long as short
GRVT MU_USDT_Perp	+0.0145%	8h	1,040.1	+0.009%	$84K	$1.4M	10x	as long as short
Lighter MU	+0.0176%	1h	1,040.6	+0.058%	$1.0M	$5.0M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0192%	1h	1,037.9	−0.204%	$727K	$1.2M	10x	as long as short
tradeXYZ xyz:MU	+0.0229%	1h	1,040.6	+0.058%	$178.0M	$75.0M	10x	as long as short
Bullet MU-USD	+0.0234%	1h	1,040.8	+0.078%	$26K	$384K	10x	as long as short
Extended MU_24_5-USD	+0.0280%	1h	1,039.7	−0.031%	$546K	$1.1M	10x	as long as short
Phoenix MU	+0.0308%	1h	1,040.4	+0.038%	$532K	$159K	15x	as long as short