Funding you earn now, next payment 08:00 UTC−0.0032%/8h= −3.5% APRnext payment −$0.04 per $10,000 · paid last 24h +0.013%
Price spread now: Deribit against Lighter−0.026%7-day average −0.006% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$30as in the Price arb table
costs, in and out, $10k−$280.281% of the position
Funding, last 4 days (all we have)+0.020%+$2 on $10k
+Price spread, last 4 days (all we have)+0.001%$0 · spread now −0.026%, 7d avg −0.006%
=Together, before fees+0.021%+ Points / potential airdropLighter: Season 3 · farm board+$2 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Deribit is 0.020% cheaper against Lighter than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.006%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MU | 1,038.1 | 0.0032 | pay 0.0004% / 1h | 33m 50s | $1.0M | $4.9M | 20x |
| Short | Deribit MU_USDC-PERPETUAL | 1,037.8 | 0 | get 0.0000% / 1h | 33m 50s | $74K | $608K | 10x |
Lighter MU
Deribit MU_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Lighter. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$6.72
- Price spread: −0.026% → −0.006%
- −$2.01
- Slippage, 4 orders
- −$21.1
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$36.83
- Costs to cover
- 0.281%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 4 min ago; Deribit: live order book, 5 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, 4 min ago | 1.01 bp | 1.0 bp −$1 | 1.6 bp −$16 | 17.4 bp −$1,738 | doesn't fit |
| Sell Deribit live order book, 5 min ago | 3.76 bp | 9.8 bp −$10 | 14.3 bp −$143 | 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 | −0.0248% | 4h | 1,037.9 | −0.013% | $1.3M | $673K | 10x | as long as short |
| Bitget MUUSDT | −0.0178% | 8h | 1,038.2 | +0.008% | $20.2M | $40.0M | 50x | as long as short |
| Aster MUUSD1 | 0.0000% | 8h | 1,037.9 | −0.014% | $21.2M | $65.5M | 20x | as long as short |
| Binance MUUSDT | 0.0000% | 8h | 1,037.8 | −0.026% | $122.1M | $538.6M | 50x | as long as short |
| Bybit MUUSDT | 0.0000% | 8h | 1,037.7 | −0.033% | $18.8M | $32.3M | 100x | as long as short |
| OKX MU-USDT-SWAP | 0.0000% | 8h | 1,037.8 | −0.028% | $29.8M | $100.1M | 50x | as long as short |
| RISEx MU/USDC | 0.0000% | 1h | 1,038.4 | +0.029% | $313K | $385K | 20x | as long as short |
| Gate MU_USDT | 0.0000% | 8h | 1,037.7 | −0.035% | $61.4M | $28.3M | 75x | as long as short |
| Variational Omni MU | 0.0000% | 8h | 1,037.7 | −0.037% | $2.5M | $2.6M | — | as long as short |
| GRVT MU_USDT_Perp | 0.0000% | 8h | 1,038 | −0.007% | $71K | $1.4M | 10x | as long as short |
edgeX MUUSDC
Bitget MUUSDT
Aster MUUSD1
Binance MUUSDT
Bybit MUUSDT
OKX MU-USDT-SWAP
RISEx MU/USDC
Gate MU_USDT
Variational Omni MU
GRVT MU_USDT_PerpShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| StandX MU-USD | 0.0000% | 1h | 1,037.7 | −0.038% | $188K | $3.5M | 20x | as long as short |
| SunX MU-USDT | 0.0000% | 8h | 1,039.8 | +0.170% | $11K | $5.6M | 10x | as long as short |
| Deribit MU_USDC-PERPETUALshort | 0.0000% | 1h | 1,037.8 | −0.026% | $74K | $608K | 10x | |
| HTX MU-USDT | 0.0000% | 8h | 1,037.8 | −0.030% | $126K | $481K | 50x | as long as short |
| Bullet MU-USD | +0.0012% | 1h | 1,038.1 | +0.001% | $25K | $390K | 10x | as long as short |
| Aftermath Perps MUUSD | +0.0017% | 1h | 1,038 | −0.007% | $3K | $44K | 10x | as long as short |
| Nado MU-PERP | +0.0018% | 1h | 1,038.1 | −0.002% | $279K | $807K | 10x | as long as short |
| QFEX MU-USD | +0.0021% | 1h | 1,038 | −0.006% | $7.0M | $18.8M | 10x | as long as short |
| Lighter MUlong | +0.0032% | 1h | 1,038.1 | long leg | $1.0M | $4.9M | 20x | |
| Lighter RH MU | +0.0032% | 1h | 1,037.9 | −0.019% | $1.1M | $4.4M | 10x | as long as short |
| Extended MU_24_5-USD | +0.0032% | 1h | 1,037.4 | −0.065% | $545K | $1.1M | 10x | as long as short |
| Injective MU/USDC PERP | +0.0033% | 1h | 1,051.4 | +1.279% | $19K | $5K | 12x | as long as short |
| Arcus MU-USD | +0.0040% | 1h | 1,037.5 | −0.060% | $90K | $245K | 10x | as long as short |
| Vest MU-USD-PERP | +0.0046% | 1h | 1,038.3 | +0.018% | — | $175K | 25x | as long as short |
| tradeXYZ xyz:MU | +0.0050% | 1h | 1,037.8 | −0.027% | $176.4M | $82.7M | 10x | as long as short |
| Polymarket Perps MU-USD | +0.0050% | 1h | 1,037.9 | −0.017% | $168K | $195K | 10x | as long as short |
| SoDEX MU-USD | +0.0050% | 1h | 1,038 | −0.013% | $681K | $15K | 10x | as long as short |
| Ondo Perps MU-USD.P | +0.0050% | 1h | 1,037.5 | −0.059% | $1.8M | $2.7M | 10x | as long as short |
| Paradex MU-USD-PERP | +0.0051% | 8h | 1,038.1 | 0.000% | $2K | — | 5x | as long as short |
| Aevo MU-PERP | +0.0080% | 1h | 1,037.6 | −0.043% | $32K | $1K | 10x | as long as short |
| Coinbase International MU-PERP-INTX | +0.0080% | 1h | 1,037.4 | −0.062% | $725K | $1.2M | 10x | as long as short |
| Pacifica MU | +0.0100% | 1h | 1,038 | −0.007% | $147K | $188K | 10x | as long as short |
| KuCoin MUUSDTM | +0.0100% | 8h | 1,037.5 | −0.053% | $5.2M | $3.9M | 20x | as long as short |
| ApeX Omni MUUSDT | +0.0100% | 1h | 1,037.9 | −0.020% | $70K | $270K | 50x | as long as short |
| Orderly PERP_MU_USDC_mythos | +0.0100% | 8h | 1,037.9 | −0.016% | $825 | $799 | 20x | as long as short |
| BloFin MU-USDT | +0.0120% | 8h | 1,038.3 | +0.021% | $1.4M | $2.1M | 20x | as long as short |
| Phoenix MU | +0.0232% | 1h | 1,038.3 | +0.021% | $531K | $270K | 15x | as long as short |
StandX MU-USD
SunX MU-USDT
HTX MU-USDT
Bullet MU-USD
Aftermath Perps MUUSD
Nado MU-PERP
QFEX MU-USD
Lighter RH MU
Extended MU_24_5-USD
Injective MU/USDC PERP
Arcus MU-USD
Vest MU-USD-PERP
tradeXYZ xyz:MU
Polymarket Perps MU-USD
SoDEX MU-USD
Ondo Perps MU-USD.P
Paradex MU-USD-PERP
Aevo MU-PERP
Coinbase International MU-PERP-INTX
Pacifica MU
KuCoin MUUSDTM
ApeX Omni MUUSDT
Orderly PERP_MU_USDC_mythos
BloFin MU-USDT
Phoenix MU