Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0056%/8h= −6.1% APRpaid last 24h −0.013%

Price spread now: Aster against Lighter+0.025%7-day average +0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$13as in the Price arb table

costs, in and out, $10k−$130.128% of the position

Long on Lighter Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.200%−$20 on $10k

Price spread, last 7 days−0.025%−$3 · spread now +0.025%, 7d avg +0.028%

Together, before fees−0.226%+ Points / potential airdropLighter: Season 3 · Aster: Stage 5 · farm board−$23 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.028%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MU	1,051.6	0.0056	pay 0.0007% / 1h	13m 41s	$1.1M	$5.1M	20x
Short	Aster MUUSD1	1,051.8	0	get 0.0000% / 8h	4h 13m	$21.4M	$55.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster 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 AsterbpOrdersPrice spread, now +0.025%Rate

Funding earned: −$11.76
Price spread: +0.025% → +0.028%: −$0.3
Slippage, 4 orders: −$4.82
Fee Lighter: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$24.88
Costs to cover: 0.128%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 min ago; Aster: live order book, 5 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, 4 min ago	0.47 bp	1.1 bp −$1	1.4 bp −$14	17.2 bp −$1,718	doesn't fit
Sell Aster live order book, 5 min ago	0.28 bp	4.3 bp −$4	7.9 bp −$79	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	−0.0084%	4h	1,051.4	−0.014%	$1.3M	$673K	10x	as long as short
Aster MUUSD1short	0.0000%	8h	1,051.8	+0.025%	$21.4M	$55.0M	20x
OKX MU-USDT-SWAP	0.0000%	8h	1,051.8	+0.021%	$31.2M	$99.6M	50x	as long as short
RISEx MU/USDC	0.0000%	1h	1,051.9	+0.030%	$341K	$354K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,051.6	+0.002%	$62.3M	$27.5M	75x	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,052.3	+0.070%	$82K	$1.4M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,051.8	+0.018%	$190K	$3.4M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,051.7	+0.013%	$11K	$5.8M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,051.2	−0.037%	$72K	$441K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,051.3	−0.026%	$131K	$434K	50x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MU	+0.0003%	8h	1,051.8	+0.017%	$2.7M	$2.4M	—	as long as short
Aftermath Perps MUUSD	+0.0022%	1h	1,051.8	+0.020%	$3K	$45K	10x	as long as short
Bybit MUUSDT	+0.0023%	8h	1,051.9	+0.028%	$19.1M	$32.3M	100x	as long as short
Lighter RH MU	+0.0032%	1h	1,051.5	−0.007%	$1.3M	$4.4M	10x	as long as short
Extended MU_24_5-USD	+0.0032%	1h	1,050.9	−0.067%	$566K	$1.1M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	−0.022%	$19K	$5K	12x	as long as short
QFEX MU-USD	+0.0034%	1h	1,051.5	−0.008%	$7.1M	$17.9M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,051.6	0.000%	$71K	$234K	10x	as long as short
Binance MUUSDT	+0.0041%	8h	1,051.6	+0.004%	$126.6M	$516.5M	50x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,052.6	+0.093%	—	$176K	25x	as long as short
Nado MU-PERP	+0.0048%	1h	1,051.1	−0.043%	$282K	$837K	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,051.4	−0.018%	$171K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,051.5	−0.013%	$690K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,050.9	−0.063%	$1.9M	$2.2M	10x	as long as short
Paradex MU-USD-PERP	+0.0051%	8h	1,051.7	+0.008%	$2K	—	5x	as long as short
Bullet MU-USD	+0.0051%	1h	1,051.7	+0.010%	$25K	$395K	10x	as long as short
Lighter MUlong	+0.0056%	1h	1,051.6	long leg	$1.1M	$5.1M	20x
Bitget MUUSDT	+0.0073%	8h	1,051.9	+0.029%	$20.5M	$41.1M	50x	as long as short
tradeXYZ xyz:MU	+0.0074%	1h	1,051.2	−0.037%	$178.6M	$99.0M	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0080%	1h	1,052.9	+0.124%	$759K	$1.2M	10x	as long as short
Aevo MU-PERP	+0.0096%	1h	1,051.2	−0.034%	$32K	$1K	10x	as long as short
Pacifica MU	+0.0100%	1h	1,051.6	+0.001%	$148K	$185K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,051.3	−0.027%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,052	+0.043%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,051.3	−0.029%	$836	$799	20x	as long as short
BloFin MU-USDT	+0.0164%	8h	1,051.5	−0.006%	$1.5M	$2.0M	20x	as long as short
Phoenix MU	+0.0304%	1h	1,052.5	+0.087%	$538K	$271K	15x	as long as short