Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0072%/8h= −7.9% APRpaid last 24h −0.037%

Price spread now: Gate against Lighter+0.017%7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$220.223% of the position

Long on Lighter Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.247%−$25 on $10k

Price spread, last 7 days−0.079%−$8 · spread now +0.017%, 7d avg +0.002%

Together, before fees−0.327%+ Points / potential airdropLighter: Season 3 · farm board−$33 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.002%, 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	1,045.1	0.0072	pay 0.0009% / 1h	14m 32s	$1.0M	$5.0M	20x
Short	Gate MU_USDT	1,045.3	0	get 0.0000% / 8h	14m 32s	$63.0M	$29.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.017%Rate

Funding earned: −$15.12
Price spread: +0.017% → +0.002%: $1.48
Slippage, 4 orders: −$7.26
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$35.9
Costs to cover: 0.223%
Break-even: never at this rate

Slippage from Lighter: live order book, 3 min ago; Gate: 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 Lighter live order book, 3 min ago	0.05 bp	0.0 bp $0	1.0 bp −$10	15.2 bp −$1,525	doesn't fit
Sell Gate live order book, 4 min ago	1.20 bp	10.9 bp −$11	15.3 bp −$153	36.4 bp −$3,642	64.6 bp −$32.3K

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	−0.0252%	4h	1,045.9	+0.070%	$1.3M	$674K	10x	as long as short
Gate MU_USDTshort	0.0000%	8h	1,045.3	+0.017%	$63.0M	$29.1M	75x
StandX MU-USD	0.0000%	1h	1,045.4	+0.027%	$189K	$3.3M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,047.4	+0.220%	$11K	$6.5M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,045.5	+0.035%	$62K	$283K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,045.5	+0.033%	$129K	$456K	50x	as long as short
Aftermath Perps MUUSD	+0.0028%	1h	1,045.5	+0.033%	$3K	$45K	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,045.3	+0.018%	$1.2M	$4.3M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,050.7	+0.534%	$14K	$302	12x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,045.7	+0.058%	—	$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	1,045	−0.012%	$169K	$193K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,045.6	+0.040%	$686K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,044.5	−0.059%	$2.0M	$2.7M	10x	as long as short
OKX MU-USDT-SWAP	+0.0070%	8h	1,045.2	+0.003%	$30.8M	$104.5M	50x	as long as short
Lighter MUlong	+0.0072%	1h	1,045.1	long leg	$1.0M	$5.0M	20x
QFEX MU-USD	+0.0080%	1h	1,045.3	+0.013%	$7.9M	$23.9M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,045.4	+0.025%	$153K	$183K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,045.3	+0.019%	$5.2M	$3.9M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,046	+0.081%	$71K	$266K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,045.8	+0.060%	$831	$799	20x	as long as short
Bullet MU-USD	+0.0104%	1h	1,045.7	+0.055%	$25K	$395K	10x	as long as short
Paradex MU-USD-PERP	+0.0105%	8h	1,045.4	+0.026%	$2K	—	5x	as long as short
Bitget MUUSDT	+0.0115%	8h	1,045.3	+0.013%	$20.4M	$43.5M	50x	as long as short
Aevo MU-PERP	+0.0128%	1h	1,045.5	+0.036%	$33K	—	10x	as long as short
Nado MU-PERP	+0.0151%	1h	1,044.9	−0.025%	$271K	$875K	10x	as long as short
Aster MUUSD1	+0.0165%	8h	1,046.3	+0.109%	$21.5M	$47.3M	20x	as long as short
Variational Omni MU	+0.0178%	8h	1,045.8	+0.061%	$2.7M	$2.5M	—	as long as short
tradeXYZ xyz:MU	+0.0181%	1h	1,045.4	+0.026%	$176.7M	$104.6M	10x	as long as short
Binance MUUSDT	+0.0188%	8h	1,045.3	+0.015%	$124.3M	$531.7M	50x	as long as short
GRVT MU_USDT_Perp	+0.0218%	8h	1,045.9	+0.072%	$82K	$1.4M	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0224%	1h	1,044.9	−0.020%	$757K	$1.3M	10x	as long as short
Bybit MUUSDT	+0.0260%	8h	1,045.4	+0.029%	$19.2M	$32.4M	100x	as long as short
BloFin MU-USDT	+0.0308%	8h	1,045.7	+0.055%	$1.5M	$2.0M	20x	as long as short
Extended MU_24_5-USD	+0.0344%	1h	1,045	−0.012%	$545K	$1.1M	10x	as long as short
Phoenix MU	+0.0460%	1h	1,046	+0.083%	$535K	$306K	15x	as long as short
Arcus MU-USD	+0.0462%	1h	1,045.4	+0.027%	$70K	$244K	10x	as long as short
RISEx MU/USDC	+0.0525%	1h	1,045.7	+0.058%	$316K	$339K	20x	as long as short