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: KuCoin against Lighter−0.034%7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

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

Long on Lighter Short on KuCoin

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

Funding pays, the price is against you. KuCoin is 0.022% cheaper against Lighter than usual: you would sell low and buy high (spread −0.034% now, against its 7-day average of −0.012%). If the spread goes back, that is −$2 on $10k: about 34 hours of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.068%, 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	1,050.7	0.0048	pay 0.0006% / 1h	23m 55s	$1.1M	$5.0M	20x
Short	KuCoin MUUSDTM	1,050.3	0.0100	get 0.0100% / 8h	5h 23m	$5.3M	$3.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.034%Rate

Funding earned: $10.92
Price spread: −0.034% → −0.012%: −$2.23
Slippage, 4 orders: −$17.24
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$20.55
Costs to cover: 0.292%
Break-even: 20.2 days

Slippage from Lighter: live order book, 4 min ago; KuCoin: 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, 4 min ago	0.48 bp	0.5 bp −$1	1.1 bp −$11	12.1 bp −$1,206	doesn't fit
Sell KuCoin live order book, 4 min ago	3.10 bp	15.2 bp −$15	27.2 bp −$272	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	−0.0861%	4h	1,049.9	−0.069%	$1.3M	$671K	10x	as long as short
Bybit MUUSDT	0.0000%	8h	1,050.8	+0.017%	$19.1M	$32.3M	100x	as long as short
RISEx MU/USDC	0.0000%	1h	1,050.7	0.000%	$333K	$348K	20x	as long as short
Gate MU_USDT	0.0000%	8h	1,050.5	−0.012%	$62.1M	$27.5M	75x	as long as short
GRVT MU_USDT_Perp	0.0000%	8h	1,050.2	−0.042%	$85K	$1.3M	10x	as long as short
StandX MU-USD	0.0000%	1h	1,050	−0.064%	$190K	$3.5M	20x	as long as short
SunX MU-USDT	0.0000%	8h	1,052.4	+0.167%	$11K	$5.9M	10x	as long as short
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,050.4	−0.026%	$67K	$377K	10x	as long as short
HTX MU-USDT	0.0000%	8h	1,050.4	−0.020%	$129K	$429K	50x	as long as short
Aftermath Perps MUUSD	+0.0020%	1h	1,050	−0.060%	$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	1,050.6	−0.003%	$31.0M	$99.8M	50x	as long as short
QFEX MU-USD	+0.0030%	1h	1,050.2	−0.040%	$7.2M	$18.1M	10x	as long as short
Lighter RH MU	+0.0032%	1h	1,050.5	−0.018%	$1.2M	$4.3M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+0.068%	$19K	$5K	12x	as long as short
Extended MU_24_5-USD	+0.0040%	1h	1,049.9	−0.071%	$564K	$1.1M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,050	−0.059%	$71K	$235K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,051.4	+0.069%	—	$175K	25x	as long as short
Lighter MUlong	+0.0048%	1h	1,050.7	long leg	$1.1M	$5.0M	20x
Nado MU-PERP	+0.0050%	1h	1,050.2	−0.042%	$282K	$848K	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,050.2	−0.043%	$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	−0.131%	$1.9M	$2.3M	10x	as long as short
Paradex MU-USD-PERP	+0.0055%	8h	1,050.4	−0.022%	$2K	—	5x	as long as short
tradeXYZ xyz:MU	+0.0057%	1h	1,050.3	−0.033%	$178.1M	$98.9M	10x	as long as short
Aster MUUSD1	+0.0060%	8h	1,050.5	−0.018%	$21.4M	$53.0M	20x	as long as short
Bullet MU-USD	+0.0065%	1h	1,050.7	+0.005%	$25K	$398K	10x	as long as short
Coinbase International MU-PERP-INTX	+0.0096%	1h	1,049.9	−0.068%	$756K	$1.2M	10x	as long as short
Pacifica MU	+0.0100%	1h	1,050.4	−0.019%	$149K	$185K	10x	as long as short
KuCoin MUUSDTMshort	+0.0100%	8h	1,050.3	−0.034%	$5.3M	$3.4M	20x
ApeX Omni MUUSDT	+0.0100%	1h	1,049.7	−0.087%	$71K	$268K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,050.4	−0.027%	$835	$799	20x	as long as short
Variational Omni MU	+0.0101%	8h	1,050.2	−0.046%	$2.7M	$2.4M	—	as long as short
Aevo MU-PERP	+0.0112%	1h	1,050.3	−0.030%	$32K	$1K	10x	as long as short
Bitget MUUSDT	+0.0116%	8h	1,050.6	−0.004%	$20.6M	$41.1M	50x	as long as short
Binance MUUSDT	+0.0127%	8h	1,050.6	−0.005%	$126.5M	$518.7M	50x	as long as short
Phoenix MU	+0.0229%	1h	1,050.4	−0.024%	$537K	$271K	15x	as long as short
BloFin MU-USDT	+0.0248%	8h	1,050.3	−0.032%	$1.5M	$2.0M	20x	as long as short