Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0011%/8h= +1.2% APRpaid last 24h 0.000%

Price spread now: Lighter RH against OKX−0.013%7-day average −0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$11as in the Price arb table

costs, in and out, $10k−$150.148% of the position

Long on OKX Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.071%−$7 on $10k

Price spread, last 7 days−0.012%−$1 · spread now −0.013%, 7d avg −0.048%

Together, before fees−0.082%+ Points / potential airdropLighter RH: Points live · farm board−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Lighter RH is 0.035% dearer against OKX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.048%. Mind the row above: over the last 7 days funding on this pair cost −0.071%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MU-USDT-SWAP	1,050.1	0.0021	pay 0.0021% / 8h	5h 25m	$31.0M	$99.7M	50x
Short	Lighter RH MU	1,050	0.0032	get 0.0004% / 1h	25m 36s	$1.2M	$4.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against OKX. 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 OKXbpFee Lighter RHbpOrdersPrice spread, now −0.013%Rate

Funding earned: $2.21
Price spread: −0.013% → −0.048%: $3.48
Slippage, 4 orders: −$4.78
Fee OKX: 5 bp × 2 orders: −$10
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$9.09
Costs to cover: 0.148%
Break-even: 35.7 days

Slippage from OKX: live order book, 3 min ago; Lighter RH: live order book, 3 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 OKX live order book, 3 min ago	0.05 bp	6.4 bp −$6	7.8 bp −$78	23.4 bp −$2,339	doesn't fit
Sell Lighter RH live order book, 3 min ago	1.48 bp	1.7 bp −$2	3.8 bp −$38	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	−0.0521%	4h	1,050.6	+0.043%	$1.3M	$670K	10x	as long as short
Bybit MUUSDT	0.0000%	8h	1,050.4	+0.030%	$19.1M	$32.3M	100x	as long as short
RISEx MU/USDC	0.0000%	1h	1,050.3	+0.020%	$333K	$348K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,050.1	+0.002%	$62.0M	$27.5M	75x	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,050.6	+0.049%	$85K	$1.3M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,049.8	−0.027%	$190K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,052.1	+0.187%	$11K	$5.9M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,050.1	−0.007%	$67K	$375K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,050	−0.009%	$129K	$429K	50x	as long as short
Aftermath Perps MUUSD	+0.0020%	1h	1,050	−0.008%	$3K	$45K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX MU-USDT-SWAPlong	+0.0021%	8h	1,050.1	long leg	$31.0M	$99.7M	50x
QFEX MU-USD	+0.0030%	1h	1,050.1	−0.001%	$7.2M	$18.1M	10x	as long as short
Lighter RH MUshort	+0.0032%	1h	1,050	−0.013%	$1.2M	$4.3M	10x
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.118%	$19K	$5K	12x	as long as short
Extended MU_24_5-USD	+0.0040%	1h	1,049.6	−0.053%	$564K	$1.1M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,050	−0.008%	$71K	$235K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,051.1	+0.091%	—	$175K	25x	as long as short
Lighter MU	+0.0048%	1h	1,050.3	+0.016%	$1.1M	$4.9M	20x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,050	−0.011%	$170K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,050.3	+0.012%	$689K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,049.8	−0.028%	$1.9M	$2.3M	10x	as long as short
Nado MU-PERP	+0.0054%	1h	1,049.9	−0.022%	$282K	$848K	10x	as long as short
Paradex MU-USD-PERP	+0.0056%	8h	1,050.3	+0.018%	$2K	—	5x	as long as short
tradeXYZ xyz:MU	+0.0059%	1h	1,050	−0.011%	$178.1M	$99.2M	10x	as long as short
Aster MUUSD1	+0.0063%	8h	1,050.3	+0.016%	$21.4M	$52.8M	20x	as long as short
Bullet MU-USD	+0.0068%	1h	1,050.3	+0.020%	$25K	$398K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0096%	1h	1,049.9	−0.017%	$756K	$1.2M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,050.2	+0.009%	$149K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,050.1	−0.007%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,050.8	+0.065%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050.2	+0.010%	$835	$799	20x	as long as short
Variational Omni MU	+0.0101%	8h	1,050.2	+0.005%	$2.7M	$2.4M	—	as long as short
Aevo MU-PERP	+0.0112%	1h	1,049.9	−0.016%	$32K	$1K	10x	as long as short
Bitget MUUSDT	+0.0119%	8h	1,050.4	+0.025%	$20.6M	$41.1M	50x	as long as short
Binance MUUSDT	+0.0128%	8h	1,050.3	+0.015%	$126.5M	$518.8M	50x	as long as short
Phoenix MU	+0.0229%	1h	1,050.6	+0.046%	$537K	$271K	15x	as long as short
BloFin MU-USDT	+0.0253%	8h	1,050.1	+0.001%	$1.5M	$2.0M	20x	as long as short