Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0052%/8h= −5.7% APRpaid last 24h −0.001%

Price spread now: Lighter against KuCoin+0.034%7-day average +0.012% · you sell dearer than you buy

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

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

costs, in and out, $10k−$290.292% of the position

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.068%+$7 on $10k

Price spread, last 7 days−0.043%−$4 · spread now +0.034%, 7d avg +0.012%

Together, before fees+0.025%+ Points / potential airdropLighter: Season 3 · farm board+$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.022% dearer against KuCoin than usual: you sell high and buy low (spread +0.034% now, against its 7-day average of +0.012%): +$2 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 34 hours. Mind the row above: over the last 7 days funding on this pair paid +0.068%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MUUSDTM	1,050.3	0.0100	pay 0.0100% / 8h	5h 24m	$5.3M	$3.4M	20x
Short	Lighter MU	1,050.7	0.0048	get 0.0006% / 1h	24m 01s	$1.1M	$5.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. 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 KuCoinbpFee LighterbpOrdersPrice spread, now +0.034%Rate

Funding earned: −$10.92
Price spread: +0.034% → +0.012%: $2.24
Slippage, 4 orders: −$17.24
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$37.92
Costs to cover: 0.292%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; Lighter: live order book, 4 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 KuCoin live order book, 4 min ago	3.10 bp	13.0 bp −$13	27.7 bp −$277	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	0.48 bp	0.6 bp −$1	1.3 bp −$13	17.1 bp −$1,713	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	−0.0861%	4h	1,049.9	−0.035%	$1.3M	$671K	10x	as long as short
Bybit MUUSDT	0.0000%	8h	1,050.9	+0.053%	$19.1M	$32.3M	100x	as long as short
RISEx MU/USDC	0.0000%	1h	1,050.7	+0.034%	$333K	$348K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,050.5	+0.021%	$62.1M	$27.5M	75x	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,050.2	−0.008%	$85K	$1.3M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,050	−0.030%	$190K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,052.4	+0.201%	$11K	$5.9M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,050.4	+0.009%	$67K	$377K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,050.4	+0.014%	$129K	$429K	50x	as long as short
Aftermath Perps MUUSD	+0.0020%	1h	1,050	−0.026%	$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-SWAP	+0.0021%	8h	1,050.7	+0.043%	$31.0M	$99.8M	50x	as long as short
QFEX MU-USD	+0.0030%	1h	1,050.2	−0.006%	$7.2M	$18.1M	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,050.5	+0.016%	$1.2M	$4.3M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.102%	$19K	$5K	12x	as long as short
Extended MU_24_5-USD	+0.0040%	1h	1,050.1	−0.018%	$564K	$1.1M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,050	−0.025%	$71K	$235K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,051.4	+0.104%	—	$175K	25x	as long as short
Lighter MUshort	+0.0048%	1h	1,050.7	+0.034%	$1.1M	$5.0M	20x
Nado MU-PERP	+0.0050%	1h	1,050.2	−0.008%	$282K	$848K	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,050.2	−0.009%	$170K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,050.5	+0.017%	$689K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,049.3	−0.097%	$1.9M	$2.3M	10x	as long as short
Paradex MU-USD-PERP	+0.0055%	8h	1,050.4	+0.013%	$2K	—	5x	as long as short
tradeXYZ xyz:MU	+0.0057%	1h	1,050.3	+0.001%	$178.1M	$98.9M	10x	as long as short
Aster MUUSD1	+0.0060%	8h	1,050.5	+0.019%	$21.4M	$53.0M	20x	as long as short
Bullet MU-USD	+0.0065%	1h	1,050.7	+0.039%	$25K	$398K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0096%	1h	1,049.9	−0.033%	$756K	$1.2M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,050.4	+0.015%	$149K	$185K	10x	as long as short
KuCoin MUUSDTMlong	+0.0100%	8h	1,050.3	long leg	$5.3M	$3.4M	20x
ApeX Omni MUUSDT	+0.0100%	1h	1,049.7	−0.052%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050.4	+0.008%	$835	$799	20x	as long as short
Variational Omni MU	+0.0101%	8h	1,050.2	−0.011%	$2.7M	$2.4M	—	as long as short
Aevo MU-PERP	+0.0112%	1h	1,050.3	+0.004%	$32K	$1K	10x	as long as short
Bitget MUUSDT	+0.0116%	8h	1,050.8	+0.044%	$20.6M	$41.1M	50x	as long as short
Binance MUUSDT	+0.0127%	8h	1,050.6	+0.031%	$126.5M	$518.7M	50x	as long as short
Phoenix MU	+0.0229%	1h	1,050.4	+0.010%	$537K	$271K	15x	as long as short
BloFin MU-USDT	+0.0248%	8h	1,050.3	+0.002%	$1.5M	$2.0M	20x	as long as short