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: Lighter against SunX−0.099%7-day average −0.163% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$590.594% of the position

Long on SunX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.241%+$24 on $10k

Price spread, last 3 days (all we have)−0.013%−$1 · spread now −0.099%, 7d avg −0.163%

Together, before fees+0.228%+ Points / potential airdropLighter: Season 3 · farm board+$23 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.064% dearer against SunX than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.163%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX MU-USDT	1,050.2	0	get 0.0000% / 8h	6h 36m	$11K	$6.0M	10x
Short	Lighter MU	1,049.2	0.0032	get 0.0004% / 1h	36m 08s	$1.1M	$4.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against SunX. 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 SunXbpFee LighterbpOrdersPrice spread, now −0.099%Rate

Funding earned: $6.72
Price spread: −0.099% → −0.163%: $6.4
Slippage, 4 orders: −$51.41
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$46.29
Costs to cover: 0.594%
Break-even: 55.2 days

Slippage from SunX: live order book, 13 min ago; Lighter: live order book, 7 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 SunX live order book, 13 min ago	21.56 bp	25.6 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 7 min ago	0.52 bp	0.5 bp −$1	1.0 bp −$10	28.7 bp −$2,869	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	−0.0949%	4h	1,048.4	−0.168%	$1.3M	$671K	10x	as long as short
Nado MU-PERP	−0.0007%	1h	1,048.4	−0.173%	$274K	$858K	10x	as long as short
Bybit MUUSDT	0.0000%	8h	1,049.5	−0.063%	$19.2M	$32.6M	100x	as long as short
Gate MU_USDT	0.0000%	8h	1,049.1	−0.102%	$62.1M	$27.6M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,048.7	−0.139%	$190K	$3.4M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,049.2	−0.094%	$26K	$395K	10x	as long as short
SunX MU-USDTlong	0.0000%	8h	1,050.2	long leg	$11K	$6.0M	10x
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,049	−0.116%	$66K	$329K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,049.1	−0.108%	$129K	$430K	50x	as long as short
Aftermath Perps MUUSD	+0.0021%	1h	1,048.6	−0.153%	$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
Lighter MUshort	+0.0032%	1h	1,049.2	−0.099%	$1.1M	$4.8M	20x
Lighter RH MU	+0.0032%	1h	1,049.2	−0.099%	$1.1M	$4.1M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,048.6	−0.152%	$567K	$1.2M	10x	as long as short
QFEX MU-USD	+0.0040%	1h	1,048.6	−0.157%	$7.5M	$20.1M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,048.7	−0.142%	$71K	$237K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,049.8	−0.036%	—	$176K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,049	−0.114%	$178.1M	$99.9M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,048.9	−0.124%	$170K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,048.9	−0.124%	$688K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,048.4	−0.171%	$1.9M	$2.4M	10x	as long as short
Paradex MU-USD-PERP	+0.0068%	8h	1,048.7	−0.144%	$2K	—	5x	as long as short
OKX MU-USDT-SWAP	+0.0070%	8h	1,049.5	−0.070%	$30.8M	$100.7M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,048.5	−0.162%	$148K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,049	−0.113%	$5.2M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,048.6	−0.149%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,049	−0.116%	$834	$799	20x	as long as short
Injective MU/USDC PERP	+0.0107%	1h	1,051.4	+0.110%	$19K	$5K	12x	as long as short
Coinbase International MU-PERP-INTX	+0.0128%	1h	1,048.1	−0.202%	$759K	$1.2M	10x	as long as short
Aevo MU-PERP	+0.0136%	1h	1,048.9	−0.124%	$32K	$1K	10x	as long as short
GRVT MU_USDT_Perp	+0.0158%	8h	1,049	−0.118%	$81K	$1.3M	10x	as long as short
Aster MUUSD1	+0.0203%	8h	1,049.2	−0.095%	$21.6M	$50.1M	20x	as long as short
Variational Omni MU	+0.0204%	8h	1,049.1	−0.105%	$2.7M	$2.4M	—	as long as short
Binance MUUSDT	+0.0221%	8h	1,049.2	−0.091%	$126.9M	$524.9M	50x	as long as short
Bitget MUUSDT	+0.0278%	8h	1,049.3	−0.086%	$20.3M	$41.9M	50x	as long as short
Phoenix MU	+0.0304%	1h	1,049.2	−0.095%	$537K	$273K	15x	as long as short
BloFin MU-USDT	+0.0368%	8h	1,049.8	−0.037%	$1.5M	$2.0M	20x	as long as short
RISEx MU/USDC	+0.0507%	1h	1,049.1	−0.108%	$333K	$348K	20x	as long as short