Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0048%/8h= +5.3% APRpaid last 24h −0.010%

Price spread now: Bybit against Lighter+0.034%7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

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

costs, in and out, $10k−$130.132% of the position

Long on Lighter Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.122%−$12 on $10k

Price spread, last 7 days−0.061%−$6 · spread now +0.034%, 7d avg +0.031%

Together, before fees−0.183%+ Points / potential airdropLighter: Season 3 · farm board−$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.031%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.122%, 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	Lighter MU	1,044	0.0192	pay 0.0024% / 1h	23m 33s	$1.0M	$4.8M	20x
Short	Bybit MUUSDT	1,044.3	0.0240	get 0.0240% / 8h	1h 23m	$19.2M	$32.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.034%Rate

Funding earned: $10.08
Price spread: +0.034% → +0.031%: $0.3
Slippage, 4 orders: −$2.19
Fee Lighter: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$2.81
Costs to cover: 0.132%
Break-even: 9.0 days

Slippage from Lighter: live order book, 4 min ago; Bybit: 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	0.10 bp	0.1 bp $0	1.0 bp −$10	13.9 bp −$1,392	doesn't fit
Sell Bybit live order book, 5 min ago	0.05 bp	6.9 bp −$7	10.9 bp −$109	27.2 bp −$2,719	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	−0.0927%	4h	1,044.3	+0.031%	$1.3M	$672K	10x	as long as short
Gate MU_USDT	0.0000%	8h	1,044	+0.004%	$62.9M	$29.0M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,043.3	−0.066%	$189K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,046.6	+0.247%	$11K	$6.6M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,044	−0.003%	$125K	$441K	50x	as long as short
OKX MU-USDT-SWAP	+0.0030%	8h	1,044.1	+0.008%	$30.8M	$104.9M	50x	as long as short
Aftermath Perps MUUSD	+0.0031%	1h	1,044	+0.004%	$3K	$45K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,043.8	−0.015%	$1.2M	$4.2M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.645%	$14K	$302	12x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,043.6	−0.040%	—	$194K	25x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps MU-USD	+0.0050%	1h	1,043.7	−0.027%	$165K	$192K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,044.2	+0.017%	$685K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,043.1	−0.089%	$2.0M	$2.7M	10x	as long as short
QFEX MU-USD	+0.0071%	1h	1,043.9	−0.007%	$7.8M	$24.2M	10x	as long as short
Aster MUUSD1	+0.0081%	8h	1,044.6	+0.059%	$21.5M	$47.4M	20x	as long as short
Pacifica MU	+0.0100%	1h	1,043.6	−0.038%	$154K	$181K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,043.6	−0.039%	$5.2M	$4.0M	20x	as long as short
Bitget MUUSDT	+0.0100%	8h	1,044	+0.001%	$20.4M	$43.0M	50x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,044.9	+0.083%	$71K	$266K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,044.4	+0.037%	$830	$799	20x	as long as short
Aevo MU-PERP	+0.0120%	1h	1,044	+0.004%	$33K	—	10x	as long as short
Paradex MU-USD-PERP	+0.0133%	8h	1,043.9	−0.005%	$2K	—	5x	as long as short
Variational Omni MU	+0.0135%	8h	1,044.2	+0.020%	$2.6M	$2.7M	—	as long as short
Binance MUUSDT	+0.0157%	8h	1,044.2	+0.021%	$124.9M	$535.9M	50x	as long as short
Coinbase International MU-PERP-INTX	+0.0184%	1h	1,043.9	−0.008%	$756K	$1.4M	10x	as long as short
Lighter MUlong	+0.0192%	1h	1,044	long leg	$1.0M	$4.8M	20x
Nado MU-PERP	+0.0212%	1h	1,043	−0.090%	$266K	$868K	10x	as long as short
GRVT MU_USDT_Perp	+0.0215%	8h	1,044.5	+0.049%	$82K	$1.4M	10x	as long as short
Bybit MUUSDTshort	+0.0240%	8h	1,044.3	+0.034%	$19.2M	$32.6M	100x
Bullet MU-USD	+0.0269%	1h	1,044.1	+0.014%	$26K	$397K	10x	as long as short
BloFin MU-USDT	+0.0273%	8h	1,044.6	+0.061%	$1.4M	$2.0M	20x	as long as short
tradeXYZ xyz:MU	+0.0323%	1h	1,043.8	−0.017%	$176.3M	$106.7M	10x	as long as short
Phoenix MU	+0.0383%	1h	1,044.4	+0.040%	$534K	$306K	15x	as long as short
Arcus MU-USD	+0.0435%	1h	1,043.6	−0.036%	$73K	$241K	10x	as long as short
RISEx MU/USDC	+0.0499%	1h	1,044.5	+0.048%	$295K	$338K	20x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0642%	1h	1,044.1	+0.009%	$61K	$247K	10x	as long as short
Extended MU_24_5-USD	+0.0664%	1h	1,043	−0.092%	$541K	$1.1M	10x	as long as short