Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0088%/8h= +9.6% APRpaid last 24h +0.035%

Price spread now: BloFin against Lighter−0.081%60s7-day average +0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs+$3as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$140.138% of the position

Long on Lighter Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.169%+$17 on $10k

Price spread, last 4 days (all we have)+0.058%+$6 · spread now −0.081%, 7d avg +0.029%

Together, before fees+0.227%+ Points / potential airdropLighter: Season 3 · farm board+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.110% cheaper against Lighter than usual: you would sell low and buy high (spread −0.081% now, against its 7-day average of +0.029%). If the spread goes back, that is −$11 on $10k: about 4.2 days of funding at the current rate (+$3 a day). The two prices were read 60 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MU	1,043.3	0.0032	pay 0.0004% / 1h	5m 45s	$1.1M	$5.1M	20x
Short	BloFin MU-USDT	1,042.5	0.0120	get 0.0120% / 8h	3h 05m	$1.5M	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.081%Rate

Funding earned: $18.48
Price spread: −0.081% → +0.029%: −$11.03
Slippage, 4 orders: −$1.84
Fee Lighter: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$6.39
Costs to cover: 0.138%
Break-even: 9.4 days

Slippage from Lighter: live order book, 7 min ago; BloFin: 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, 7 min ago	0.43 bp	0.4 bp $0	1.2 bp −$12	16.9 bp −$1,688	doesn't fit
Sell BloFin live order book, 2 min ago	0.34 bp	6.4 bp −$6	8.4 bp −$84	15.4 bp −$1,543	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	−0.0615%	4h	1,042.3	−0.092%	$1.3M	$672K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,043	−0.030%	$21.2M	$56.8M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,042.8	−0.047%	$123.2M	$525.4M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,042.9	−0.037%	$18.6M	$31.9M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,042.8	−0.047%	$30.7M	$99.7M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,043.5	+0.017%	$337K	$353K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,042.7	−0.057%	$61.9M	$28.1M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,043.1	−0.018%	$20.5M	$41.6M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,043.3	0.000%	$2.7M	$2.4M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,042.3	−0.097%	$83K	$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	1,041.8	−0.143%	$188K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,045.4	+0.200%	$11K	$5.8M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,042.9	−0.037%	$129K	$435K	50x	as long as short
Aftermath Perps MUUSD	+0.0023%	1h	1,042.9	−0.039%	$3K	$44K	10x	as long as short
Nado MU-PERP	+0.0031%	1h	1,042.8	−0.050%	$281K	$824K	10x	as long as short
QFEX MU-USD	+0.0032%	1h	1,043.2	−0.011%	$7.0M	$18.0M	10x	as long as short
Lighter MUlong	+0.0032%	1h	1,043.3	long leg	$1.1M	$5.1M	20x
Lighter RH MU	+0.0032%	1h	1,043.3	−0.001%	$1.3M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,042.3	−0.100%	$555K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.773%	$19K	$5K	12x	as long as short
Bullet MU-USD	+0.0037%	1h	1,043.6	+0.029%	$26K	$392K	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,042.6	−0.067%	$70K	$232K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,043.3	+0.002%	—	$176K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,042.7	−0.058%	$177.3M	$94.9M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,043.3	0.000%	$169K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,043	−0.029%	$684K	$16K	10x	as long as short
Paradex MU-USD-PERP	+0.0050%	8h	1,043.4	+0.012%	$2K	—	5x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,041.8	−0.147%	$1.9M	$2.3M	10x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,043	−0.032%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,042.9	−0.035%	$147K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,042.7	−0.058%	$5.2M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,042.1	−0.113%	$71K	$269K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,043.4	+0.010%	$830	$799	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0120%	1h	1,044.6	+0.125%	$749K	$1.2M	10x	as long as short
BloFin MU-USDTshort	+0.0120%	8h	1,042.5	−0.081%	$1.5M	$2.0M	20x
Deribit MU_USDC-PERPETUAL	+0.0201%	1h	1,043.5	+0.019%	$73K	$490K	10x	as long as short
Phoenix MU	+0.0305%	1h	1,042.6	−0.067%	$533K	$271K	15x	as long as short