Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0175%/8h= −19.2% APRpaid last 24h −0.007%

Price spread now: Bitget against Lighter+0.020%7-day average +0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

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

costs, in and out, $10k−$210.211% of the position

Long on Lighter Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.067%−$7 on $10k

Price spread, last 7 days+0.044%+$4 · spread now +0.020%, 7d avg +0.041%

Together, before fees−0.023%+ Points / potential airdropLighter: Season 3 · farm board−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Bitget is 0.021% cheaper against Lighter than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.041%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MU	1,034.2	0.0112	pay 0.0014% / 1h	26m 40s	$1.0M	$4.9M	20x
Short	Bitget MUUSDT	1,034.4	−0.0063	pay 0.0063% / 8h	2h 26m	$20.3M	$41.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Lighter. 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 LighterbpFee BitgetbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$36.75
Price spread: +0.020% → +0.041%: −$2.07
Slippage, 4 orders: −$9.08
Fee Lighter: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$59.9
Costs to cover: 0.211%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; Bitget: live order book, 2 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 live order book, 6 min ago	1.01 bp	2.8 bp −$3	5.9 bp −$59	29.0 bp −$2,898	doesn't fit
Sell Bitget live order book, 2 min ago	0.58 bp	8.5 bp −$8	10.6 bp −$106	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	−0.0305%	4h	1,036.7	+0.244%	$1.3M	$671K	10x	as long as short
Bitget MUUSDTshort	−0.0063%	8h	1,034.4	+0.020%	$20.3M	$41.1M	50x
Aster MUUSD1	0.0000%	8h	1,034.9	+0.075%	$21.0M	$57.2M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,034.3	+0.014%	$121.5M	$531.8M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,034.5	+0.035%	$18.5M	$32.1M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,034.3	+0.010%	$29.8M	$100.3M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,034.6	+0.044%	$316K	$387K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,033.9	−0.030%	$61.3M	$28.4M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,036	+0.179%	$2.6M	$2.4M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,037	+0.278%	$75K	$1.4M	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX MU-USD	0.0000%	1h	1,034.5	+0.034%	$187K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,035.2	+0.101%	$11K	$5.7M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,033.4	−0.071%	$73K	$514K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,033.6	−0.054%	$127K	$448K	50x	as long as short
Aftermath Perps MUUSD	+0.0018%	1h	1,035.9	+0.164%	$3K	$44K	10x	as long as short
QFEX MU-USD	+0.0023%	1h	1,033.8	−0.037%	$7.0M	$18.0M	10x	as long as short
Bullet MU-USD	+0.0026%	1h	1,034.1	−0.008%	$25K	$389K	10x	as long as short
Nado MU-PERP	+0.0027%	1h	1,033.7	−0.043%	$276K	$819K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,033.9	−0.030%	$1.2M	$4.5M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,033.4	−0.070%	$538K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.663%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,034.9	+0.073%	$70K	$231K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,033.8	−0.032%	—	$175K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,034.2	+0.004%	$175.7M	$93.2M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,033.7	−0.044%	$168K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,034	−0.013%	$679K	$15K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,033.8	−0.032%	$1.9M	$2.4M	10x	as long as short
Paradex MU-USD-PERP	+0.0052%	8h	1,034.7	+0.048%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,033.5	−0.060%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,034.4	+0.019%	$147K	$189K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,033.7	−0.049%	$5.2M	$3.8M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,036	+0.181%	$70K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,033.7	−0.049%	$822	$799	20x	as long as short
Lighter MUlong	+0.0112%	1h	1,034.2	long leg	$1.0M	$4.9M	20x
BloFin MU-USDT	+0.0120%	8h	1,034.3	+0.015%	$1.5M	$2.0M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0144%	1h	1,036.2	+0.199%	$733K	$1.3M	10x	as long as short
Phoenix MU	+0.0231%	1h	1,035	+0.081%	$529K	$270K	15x	as long as short