MU

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0080%/8h= −8.8% APRnext payment −$0.10 per $10,000 · paid last 24h +0.016%

Price spread now: Extended against Lighter−0.070%7-day average −0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$90.090% of the position

Long on Lighter Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.053%−$5 on $10k

Price spread, last 4 days (all we have)+0.042%+$4 · spread now −0.070%, 7d avg −0.022%

Together, before fees−0.011%+ Points / potential airdropLighter: Season 3 · Extended: Active · farm board−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Extended is 0.047% cheaper against Lighter than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.022%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MU	1,050.5	0.0112	pay 0.0014% / 1h	51m 13s	$1.1M	$4.8M	20x
Short	Extended MU_24_5-USD	1,049.8	0.0032	get 0.0004% / 1h	51m 13s	$564K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.070%Rate

Funding earned: −$16.8
Price spread: −0.070% → −0.022%: −$4.75
Slippage, 4 orders: −$4.01
Fee Lighter: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$30.56
Costs to cover: 0.090%
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; Extended: live order book, 2 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, 7 min ago	0.48 bp	0.7 bp −$1	1.6 bp −$16	18.6 bp −$1,864	doesn't fit
Sell Extended live order book, 2 min ago	0.14 bp	3.8 bp −$4	9.3 bp −$93	doesn't fit	doesn't fit

MU on 36 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	−0.0504%	4h	1,050.4	−0.011%	$1.3M	$671K	10x	as long as short
RISEx MU/USDC	0.0000%	1h	1,050.7	+0.021%	$333K	$349K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,050.5	−0.003%	$62.1M	$27.4M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,050.1	−0.045%	$190K	$3.4M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,052.2	+0.157%	$11K	$5.9M	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,050.4	−0.016%	$129K	$427K	50x	as long as short
Aftermath Perps MUUSD	+0.0019%	1h	1,050.3	−0.019%	$3K	$45K	10x	as long as short
GRVT MU_USDT_Perp	+0.0021%	8h	1,050.7	+0.016%	$79K	$1.3M	10x	as long as short
Bybit MUUSDT	+0.0021%	8h	1,051	+0.047%	$19.2M	$32.4M	100x	as long as short
QFEX MU-USD	+0.0030%	1h	1,050.5	−0.008%	$7.3M	$18.5M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH MU	+0.0032%	1h	1,050.5	−0.008%	$1.2M	$4.2M	10x	as long as short
Extended MU_24_5-USDshort	+0.0032%	1h	1,049.8	−0.070%	$564K	$1.1M	10x
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.079%	$19K	$5K	12x	as long as short
Arcus MU-USD	+0.0040%	1h	1,050.3	−0.024%	$71K	$235K	10x	as long as short
OKX MU-USDT-SWAP	+0.0043%	8h	1,050.8	+0.027%	$31.0M	$100.2M	50x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,051.2	+0.061%	—	$175K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,050.3	−0.022%	$170K	$202K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,050.5	−0.002%	$689K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,050	−0.051%	$1.9M	$2.3M	10x	as long as short
Paradex MU-USD-PERP	+0.0060%	8h	1,050.6	+0.006%	$2K	—	5x	as long as short
Coinbase International MU-PERP-INTX	+0.0096%	1h	1,049.9	−0.056%	$756K	$1.2M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,050.6	+0.006%	$149K	$187K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,050.4	−0.012%	$5.3M	$3.4M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,050.8	+0.026%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050.6	+0.006%	$835	$799	20x	as long as short
Lighter MUlong	+0.0112%	1h	1,050.5	long leg	$1.1M	$4.8M	20x
Aster MUUSD1	+0.0112%	8h	1,050.3	−0.024%	$21.5M	$52.1M	20x	as long as short
Nado MU-PERP	+0.0115%	1h	1,049.9	−0.062%	$280K	$850K	10x	as long as short
Aevo MU-PERP	+0.0120%	1h	1,050.2	−0.030%	$32K	$1K	10x	as long as short
tradeXYZ xyz:MU	+0.0139%	1h	1,050.2	−0.031%	$178.3M	$99.2M	10x	as long as short
Variational Omni MU	+0.0148%	8h	1,050.2	−0.030%	$2.7M	$2.3M	—	as long as short
Bullet MU-USD	+0.0164%	1h	1,050.6	+0.005%	$26K	$397K	10x	as long as short
Binance MUUSDT	+0.0166%	8h	1,050.8	+0.026%	$126.6M	$520.1M	50x	as long as short
Bitget MUUSDT	+0.0170%	8h	1,050.5	−0.002%	$20.6M	$41.2M	50x	as long as short
Phoenix MU	+0.0229%	1h	1,050.7	+0.016%	$537K	$271K	15x	as long as short
Deribit MU_USDC-PERPETUAL	+0.0255%	1h	1,050.4	−0.015%	$66K	$354K	10x	as long as short