MU

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0014%/8h= −1.5% APRnext payment −$0.02 per $10,000 · paid last 24h −0.014%

Price spread now: Polymarket Perps against Lighter−0.053%45s7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as 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−$150.146% of the position

Long on Lighter Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.145%−$15 on $10k

Price spread, last 3 days (all we have)+0.016%+$2 · spread now −0.053%, 7d avg −0.028%

Together, before fees−0.129%+ Points / potential airdropLighter: Season 3 · farm board−$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Polymarket Perps is 0.025% cheaper against Lighter than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.028%). Swap the legs. The two prices were read 45 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	1,045.3	0.0064	pay 0.0008% / 1h	12m 33s	$1.1M	$5.0M	20x
Short	Polymarket Perps MU-USD	1,044.7	0.0050	get 0.0006% / 1h	12m 33s	$169K	$191K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.053%Rate

Funding earned: −$2.94
Price spread: −0.053% → −0.028%: −$2.47
Slippage, 4 orders: −$6.56
Fee Lighter: 0 bp × 2 orders: $0
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$19.97
Costs to cover: 0.146%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; Polymarket Perps: live order book, 64 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, 5 min ago	0.05 bp	0.0 bp $0	1.0 bp −$10	15.2 bp −$1,525	doesn't fit
Sell Polymarket Perps live order book, 64 min ago	1.92 bp	6.2 bp −$6	6.8 bp −$68	8.8 bp −$877	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	−0.0712%	4h	1,045.6	+0.037%	$1.3M	$674K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,045.4	+0.011%	$63.0M	$29.1M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,044.9	−0.038%	$189K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,046.9	+0.158%	$11K	$6.5M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,044.9	−0.032%	$129K	$456K	50x	as long as short
Aftermath Perps MUUSD	+0.0027%	1h	1,045	−0.027%	$3K	$45K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,045.2	−0.003%	$1.2M	$4.3M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.522%	$14K	$302	12x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,045.4	+0.011%	—	$194K	25x	as long as short
Polymarket Perps MU-USDshort	+0.0050%	1h	1,044.7	−0.053%	$169K	$191K	10x

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX MU-USD	+0.0050%	1h	1,045.2	−0.010%	$686K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,044.5	−0.071%	$2.0M	$2.7M	10x	as long as short
Lighter MUlong	+0.0064%	1h	1,045.3	long leg	$1.1M	$5.0M	20x
OKX MU-USDT-SWAP	+0.0069%	8h	1,045.4	+0.013%	$30.8M	$104.4M	50x	as long as short
QFEX MU-USD	+0.0080%	1h	1,045.3	+0.009%	$7.9M	$23.9M	10x	as long as short
Bullet MU-USD	+0.0099%	1h	1,045.1	−0.010%	$25K	$394K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,045.4	+0.017%	$153K	$183K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,045.1	−0.019%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,045.4	+0.014%	$71K	$266K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,045.3	+0.001%	$831	$799	20x	as long as short
Paradex MU-USD-PERP	+0.0102%	8h	1,045.4	+0.018%	$2K	—	5x	as long as short
Bitget MUUSDT	+0.0113%	8h	1,045.5	+0.026%	$20.4M	$43.5M	50x	as long as short
Aevo MU-PERP	+0.0128%	1h	1,044.9	−0.030%	$33K	—	10x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0142%	1h	1,045.2	−0.009%	$62K	$284K	10x	as long as short
Nado MU-PERP	+0.0149%	1h	1,044.9	−0.034%	$272K	$875K	10x	as long as short
Aster MUUSD1	+0.0161%	8h	1,045.6	+0.037%	$21.5M	$47.3M	20x	as long as short
Variational Omni MU	+0.0178%	8h	1,045.8	+0.049%	$2.7M	$2.5M	—	as long as short
tradeXYZ xyz:MU	+0.0178%	1h	1,045.1	−0.014%	$177.1M	$104.9M	10x	as long as short
Binance MUUSDT	+0.0183%	8h	1,045.5	+0.025%	$124.3M	$530.9M	50x	as long as short
GRVT MU_USDT_Perp	+0.0218%	8h	1,045.9	+0.060%	$82K	$1.4M	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0224%	1h	1,044.9	−0.032%	$757K	$1.3M	10x	as long as short
Bybit MUUSDT	+0.0258%	8h	1,045.6	+0.030%	$19.2M	$32.4M	100x	as long as short
Extended MU_24_5-USD	+0.0304%	1h	1,044.7	−0.050%	$546K	$1.1M	10x	as long as short
BloFin MU-USDT	+0.0306%	8h	1,045.4	+0.016%	$1.5M	$2.0M	20x	as long as short
Phoenix MU	+0.0460%	1h	1,046	+0.072%	$535K	$306K	15x	as long as short
Arcus MU-USD	+0.0462%	1h	1,045.3	+0.006%	$70K	$244K	10x	as long as short
RISEx MU/USDC	+0.0525%	1h	1,045.8	+0.051%	$316K	$339K	20x	as long as short