Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0663%/8h= +72.6% APRpaid last 24h +0.096%

Price spread now: Lighter against edgeX−0.058%7-day average +0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$110.110% of the position

Long on edgeX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.529%−$53 on $10k

Price spread, last 7 days+0.085%+$9 · spread now −0.058%, 7d avg +0.003%

Together, before fees−0.444%+ Points / potential airdropedgeX: Active · Lighter: Season 3 · farm board−$44 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.061% cheaper against edgeX than usual: you would sell low and buy high (spread −0.058% now, against its 7-day average of +0.003%). If the spread goes back, that is −$6 on $10k: about 7 hours of funding at the current rate (+$20 a day). Mind the row above: over the last 7 days funding on this pair cost −0.529%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX MUUSDC	1,039.5	−0.0543	get 0.0271% / 4h	55m 30s	$1.3M	$694K	10x
Short	Lighter MU	1,038.9	0.0120	get 0.0015% / 1h	55m 30s	$1.0M	$4.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against edgeX. 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 edgeXbpFee LighterbpOrdersPrice spread, now −0.058%Rate

Funding earned: $139.2
Price spread: −0.058% → +0.003%: −$6.08
Slippage, 4 orders: −$1.96
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: $122.16
Costs to cover: 0.110%
Break-even: 0.9 days

Slippage from edgeX: live order book, 1 min ago; Lighter: live order book, 6 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 edgeX live order book, 1 min ago	0.34 bp	5.0 bp −$5	6.6 bp −$66	25.6 bp −$2,561	doesn't fit
Sell Lighter live order book, 6 min ago	0.53 bp	0.5 bp −$1	1.1 bp −$11	13.1 bp −$1,314	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 MUUSDClong	−0.0543%	4h	1,039.5	long leg	$1.3M	$694K	10x
Aster MUUSD1	0.0000%	8h	1,039.5	0.000%	$21.2M	$73.6M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,039.1	−0.037%	$122.0M	$554.2M	50x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,039	−0.046%	$29.8M	$106.7M	50x	as long as short
Gate MU_USDT	0.0000%	8h	1,038.8	−0.068%	$61.3M	$27.3M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,039	−0.047%	$19.8M	$43.7M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,038.8	−0.064%	$2.6M	$2.5M	—	as long as short
StandX MU-USD	0.0000%	1h	1,038.6	−0.080%	$188K	$3.7M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,040.8	+0.130%	$11K	$4.9M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,038.2	−0.122%	$32K	$733K	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	1,038.9	−0.055%	$119K	$473K	50x	as long as short
Lighter RH MU	+0.0032%	1h	1,038.6	−0.087%	$1.1M	$4.4M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.145%	$19K	$5K	12x	as long as short
Aftermath Perps MUUSD	+0.0037%	1h	1,039.1	−0.036%	$3K	$41K	10x	as long as short
RISEx MU/USDC	+0.0045%	1h	1,039.3	−0.016%	$298K	$334K	20x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,040.3	+0.079%	—	$177K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,038.9	−0.053%	$169K	$163K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,038.9	−0.058%	$683K	$14K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,037.9	−0.149%	$1.9M	$3.2M	10x	as long as short
QFEX MU-USD	+0.0059%	1h	1,038.6	−0.080%	$7.0M	$19.4M	10x	as long as short
Paradex MU-USD-PERP	+0.0079%	8h	1,038.7	−0.070%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,038.4	−0.097%	$32K	$1K	10x	as long as short
Bybit MUUSDT	+0.0088%	8h	1,039.2	−0.023%	$18.8M	$32.2M	100x	as long as short
Pacifica MU	+0.0100%	1h	1,038.5	−0.095%	$151K	$227K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,038.7	−0.069%	$5.2M	$6.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,039.4	−0.009%	$70K	$270K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,038.9	−0.053%	$826	$799	20x	as long as short
Lighter MUshort	+0.0120%	1h	1,038.9	−0.058%	$1.0M	$4.9M	20x
BloFin MU-USDT	+0.0120%	8h	1,039.8	+0.028%	$1.5M	$2.7M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0136%	1h	1,037.9	−0.151%	$727K	$1.2M	10x	as long as short
Nado MU-PERP	+0.0141%	1h	1,038.6	−0.081%	$276K	$834K	10x	as long as short
GRVT MU_USDT_Perp	+0.0158%	8h	1,039.9	+0.045%	$72K	$1.4M	10x	as long as short
Arcus MU-USD	+0.0186%	1h	1,038.6	−0.084%	$90K	$159K	10x	as long as short
Bullet MU-USD	+0.0221%	1h	1,039.1	−0.034%	$26K	$383K	10x	as long as short
tradeXYZ xyz:MU	+0.0243%	1h	1,038.7	−0.073%	$177.6M	$75.1M	10x	as long as short
Extended MU_24_5-USD	+0.0288%	1h	1,038	−0.137%	$551K	$1.1M	10x	as long as short
Phoenix MU	+0.0308%	1h	1,041.5	+0.197%	$533K	$159K	15x	as long as short