Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0010%/8h= +1.1% APRpaid last 24h −0.001%

Price spread now: Paradex against Lighter−0.021%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · Paradex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.021% cheaper against Lighter than usual: you would sell low and buy high (spread −0.021% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 6.8 days of funding at the current rate ($0 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MU	1,038.7	0.0040	pay 0.0005% / 1h	3m 35s	$1.0M	$4.9M	20x
Short	Paradex MU-USD-PERP	1,038.5	0.0050	get 0.0050% / 8h	3m 35s	$2K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.021%Rate

Funding earned: $2.17
Price spread: −0.021% → 0.000%: −$2.12
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$3.94
Costs to cover: 0.040%
Break-even: 19.7 days

Slippage unknown: Lighter: live order book, 4 min ago; Paradex: no order-book sample. Net counts fees only.

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	0.58 bp	0.6 bp −$1	1.4 bp −$14	14.2 bp −$1,418	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0555%	4h	1,038.3	−0.042%	$1.3M	$673K	10x	as long as short
Bitget MUUSDT	−0.0131%	8h	1,038.8	+0.011%	$20.2M	$39.9M	50x	as long as short
Aster MUUSD1	0.0000%	8h	1,038.7	−0.002%	$21.2M	$67.8M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,038.6	−0.007%	$122.5M	$536.8M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,038.7	−0.004%	$18.8M	$32.2M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,038.5	−0.021%	$29.8M	$100.0M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,038.7	+0.003%	$312K	$385K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,038.5	−0.025%	$61.6M	$28.4M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,038.3	−0.040%	$2.5M	$2.6M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,038.4	−0.026%	$80K	$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	1,038.5	−0.019%	$188K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,039.8	+0.100%	$11K	$5.5M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,038.3	−0.041%	$74K	$621K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,038.3	−0.040%	$126K	$481K	50x	as long as short
Bullet MU-USD	+0.0007%	1h	1,038.5	−0.020%	$25K	$388K	10x	as long as short
Nado MU-PERP	+0.0018%	1h	1,038.3	−0.044%	$280K	$802K	10x	as long as short
Aftermath Perps MUUSD	+0.0020%	1h	1,038.3	−0.038%	$3K	$44K	10x	as long as short
QFEX MU-USD	+0.0021%	1h	1,038.5	−0.021%	$7.0M	$18.7M	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,038.6	−0.013%	$1.1M	$4.5M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,037.7	−0.094%	$544K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.218%	$19K	$5K	12x	as long as short
Lighter MUlong	+0.0040%	1h	1,038.7	long leg	$1.0M	$4.9M	20x
Arcus MU-USD	+0.0040%	1h	1,037.9	−0.081%	$90K	$244K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,038.7	−0.005%	—	$175K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,038.5	−0.020%	$176.4M	$80.2M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,038.3	−0.039%	$168K	$177K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,038.5	−0.023%	$681K	$15K	10x	as long as short
Paradex MU-USD-PERPshort	+0.0050%	8h	1,038.5	−0.021%	$2K	—	5x
Ondo Perps MU-USD.P	+0.0050%	1h	1,037.6	−0.109%	$1.9M	$2.7M	10x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,038.2	−0.052%	$32K	$1K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0080%	1h	1,038.3	−0.036%	$726K	$1.2M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,038.2	−0.054%	$145K	$191K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,038.3	−0.043%	$5.2M	$4.2M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,038.5	−0.022%	$70K	$270K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,038.3	−0.038%	$825	$799	20x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,038.3	−0.039%	$1.5M	$2.1M	20x	as long as short
Phoenix MU	+0.0232%	1h	1,038.7	−0.001%	$531K	$270K	15x	as long as short