Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.029%

Price spread now: Gate against Lighter+0.009%7-day average +0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$220.215% of the position

Long on Lighter Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.243%−$24 on $10k

Price spread, last 7 days−0.063%−$6 · spread now +0.009%, 7d avg +0.003%

Together, before fees−0.306%+ Points / potential airdropLighter: Season 3 · farm board−$31 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.003%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MU	1,049.7	0.0032	pay 0.0004% / 1h	58m 37s	$1.1M	$4.7M	20x
Short	Gate MU_USDT	1,049.7	0	get 0.0000% / 8h	6h 58m	$62.5M	$27.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.009%Rate

Funding earned: −$6.72
Price spread: +0.009% → +0.003%: $0.59
Slippage, 4 orders: −$6.53
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$27.65
Costs to cover: 0.215%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 min ago; Gate: 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	0.33 bp	0.3 bp $0	0.6 bp −$6	19.4 bp −$1,940	doesn't fit
Sell Gate live order book, 5 min ago	0.62 bp	9.1 bp −$9	16.5 bp −$165	34.8 bp −$3,477	61.4 bp −$30.7K

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	−0.0387%	4h	1,050.6	+0.092%	$1.3M	$672K	10x	as long as short
Gate MU_USDTshort	0.0000%	8h	1,049.7	+0.009%	$62.5M	$27.2M	75x
StandX MU-USD	0.0000%	1h	1,050.1	+0.044%	$190K	$3.3M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,050.6	+0.091%	$26K	$396K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,051.4	+0.171%	$11K	$6.1M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,050.2	+0.050%	$66K	$315K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,050.4	+0.070%	$129K	$424K	50x	as long as short
Aftermath Perps MUUSD	+0.0022%	1h	1,050.4	+0.070%	$3K	$45K	10x	as long as short
Lighter MUlong	+0.0032%	1h	1,049.7	long leg	$1.1M	$4.7M	20x
Lighter RH MU	+0.0032%	1h	1,049.8	+0.017%	$1.2M	$4.1M	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX MU-USD	+0.0040%	1h	1,049.6	−0.003%	$7.6M	$20.9M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,050.4	+0.070%	$71K	$242K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,051.5	+0.175%	—	$179K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,049.8	+0.014%	$178.2M	$100.2M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,050.2	+0.052%	$171K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,050.3	+0.058%	$689K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,049.1	−0.055%	$1.9M	$2.4M	10x	as long as short
Nado MU-PERP	+0.0079%	1h	1,050.5	+0.077%	$275K	$858K	10x	as long as short
Paradex MU-USD-PERP	+0.0079%	8h	1,049.5	−0.010%	$2K	—	5x	as long as short
OKX MU-USDT-SWAP	+0.0098%	8h	1,049.7	+0.007%	$30.9M	$101.4M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,049.8	+0.017%	$148K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,049.9	+0.028%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,050.5	+0.083%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050.5	+0.080%	$835	$799	20x	as long as short
Injective MU/USDC PERP	+0.0107%	1h	1,051.4	+0.163%	$19K	$5K	12x	as long as short
Coinbase International MU-PERP-INTX	+0.0128%	1h	1,050.5	+0.079%	$762K	$1.2M	10x	as long as short
Bybit MUUSDT	+0.0129%	8h	1,049.9	+0.028%	$19.4M	$32.6M	100x	as long as short
Aevo MU-PERP	+0.0152%	1h	1,050.2	+0.055%	$32K	$1K	10x	as long as short
Extended MU_24_5-USD	+0.0216%	1h	1,049.3	−0.037%	$559K	$1.2M	10x	as long as short
Variational Omni MU	+0.0260%	8h	1,050.4	+0.068%	$2.7M	$2.4M	—	as long as short
Aster MUUSD1	+0.0265%	8h	1,050.6	+0.092%	$21.6M	$48.8M	20x	as long as short
Binance MUUSDT	+0.0269%	8h	1,049.7	+0.002%	$126.0M	$522.7M	50x	as long as short
Phoenix MU	+0.0383%	1h	1,050.9	+0.119%	$538K	$273K	15x	as long as short
BloFin MU-USDT	+0.0392%	8h	1,050.4	+0.071%	$1.5M	$2.0M	20x	as long as short
Bitget MUUSDT	+0.0401%	8h	1,049.9	+0.023%	$20.5M	$41.6M	50x	as long as short
RISEx MU/USDC	+0.0507%	1h	1,049.7	+0.009%	$316K	$340K	20x	as long as short
GRVT MU_USDT_Perp	+0.0549%	8h	1,050.6	+0.095%	$83K	$1.3M	10x	as long as short