Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0068%/8hnext payment +$0.09 per $10,000 · paid last 24h +0.024%

Price spread now: Pacifica against Lighter RH−0.044%7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$230.230% of the position

Long on Lighter RH Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.131%+$13 on $10k

Price spread, last 3 days (all we have)+0.047%+$5 · spread now −0.044%, 7d avg −0.005%

Together, before fees+0.178%+ Points / potential airdropLighter RH: Points live · Pacifica: Active · farm board+$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. Pacifica is 0.039% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.044% now, against its 7-day average of −0.005%). If the spread goes back, that is −$4 on $10k: about 46 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH MU	1,047	0.0032	pay 0.0004% / 1h	21m 55s	$1.1M	$4.3M	10x
Short	Pacifica MU	1,046.6	0.0100	get 0.0013% / 1h	21m 55s	$153K	$179K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Lighter RH. 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 Lighter RHbpFee PacificabpOrdersPrice spread, now −0.044%Rate

Funding earned: $14.28
Price spread: −0.044% → −0.005%: −$3.95
Slippage, 4 orders: −$15.03
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$12.69
Costs to cover: 0.230%
Break-even: 13.2 days

Slippage from Lighter RH: live order book, 6 min ago; Pacifica: live order book, 10 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 RH live order book, 6 min ago	0.62 bp	1.2 bp −$1	6.2 bp −$62	doesn't fit	doesn't fit
Sell Pacifica live order book, 10 min ago	3.92 bp	11.4 bp −$11	doesn't fit	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	−0.0425%	4h	1,046.9	−0.015%	$1.3M	$673K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,047.4	+0.035%	$21.5M	$26.6M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,047.6	+0.051%	$125.7M	$519.8M	50x	as long as short
Bybit MUUSDT	0.0000%	8h	1,047.5	+0.043%	$19.0M	$31.1M	100x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,047.4	+0.035%	$30.9M	$101.4M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,046.8	−0.026%	$288K	$331K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,047	−0.009%	$63.7M	$28.0M	75x	as long as short
Variational Omni MU	0.0000%	8h	1,046.4	−0.065%	$2.7M	$2.7M	—	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,046.8	−0.026%	$83K	$1.2M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,046.4	−0.057%	$189K	$3.0M	20x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX MU-USDT	0.0000%	8h	1,048.6	+0.147%	$11K	$6.7M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,046.8	−0.026%	$125K	$443K	50x	as long as short
Bitget MUUSDT	+0.0023%	8h	1,047.2	+0.017%	$20.1M	$41.0M	50x	as long as short
Lighter RH MUlong	+0.0032%	1h	1,047	long leg	$1.1M	$4.3M	10x
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.351%	$14K	$302	12x	as long as short
Arcus MU-USD	+0.0041%	1h	1,046.3	−0.074%	$63K	$235K	10x	as long as short
QFEX MU-USD	+0.0045%	1h	1,046.6	−0.042%	$7.9M	$23.5M	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,047.2	+0.011%	—	$190K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,046.8	−0.023%	$166K	$177K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,046.9	−0.017%	$687K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,045.7	−0.133%	$1.9M	$2.6M	10x	as long as short
Paradex MU-USD-PERP	+0.0057%	8h	1,046.6	−0.040%	$2K	—	5x	as long as short
Lighter MU	+0.0072%	1h	1,047.2	+0.018%	$973K	$4.7M	20x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,047	−0.006%	$34K	—	10x	as long as short
Bullet MU-USD	+0.0084%	1h	1,047.2	+0.019%	$25K	$397K	10x	as long as short
Extended MU_24_5-USD	+0.0088%	1h	1,046.7	−0.029%	$526K	$1.0M	10x	as long as short
Pacifica MUshort	+0.0100%	1h	1,046.6	−0.044%	$153K	$179K	10x
KuCoin MUUSDTM	+0.0100%	8h	1,046.7	−0.030%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,046.8	−0.028%	$71K	$267K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,047.2	+0.019%	$833	$799	20x	as long as short
tradeXYZ xyz:MU	+0.0114%	1h	1,047	−0.004%	$178.9M	$98.5M	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0120%	1h	1,046.3	−0.071%	$769K	$1.7M	10x	as long as short
BloFin MU-USDT	+0.0120%	8h	1,046.5	−0.052%	$1.5M	$2.0M	20x	as long as short
Nado MU-PERP	+0.0131%	1h	1,045.8	−0.117%	$335K	$797K	10x	as long as short
Aftermath Perps MUUSD	+0.0168%	1h	1,046.7	−0.036%	$3K	$44K	10x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0304%	1h	1,047	0.000%	$55K	$150K	10x	as long as short
Phoenix MU	+0.0305%	1h	1,045.6	−0.138%	$529K	$219K	15x	as long as short