Funding arb · Price arb /

MU

RWAall MU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.024%

Price spread now: SunX against Lighter+0.202%7-day average +0.159% · you sell dearer than you buy

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$600.596% of the position

Long on Lighter Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.226%−$23 on $10k

Price spread, last 4 days (all we have)−0.124%−$12 · spread now +0.202%, 7d avg +0.159%

Together, before fees−0.349%+ Points / potential airdropLighter: Season 3 · farm board−$35 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.044% dearer against Lighter than usual: you sell high and buy low (spread +0.202% now, against its 7-day average of +0.159%): +$4 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 29 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MU	1,038.7	0.0120	pay 0.0015% / 1h	54m 58s	$1.0M	$4.9M	20x
Short	SunX MU-USDT	1,040.8	0	get 0.0000% / 8h	4h 54m	$11K	$4.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.202%Rate

Funding earned: −$25.2
Price spread: +0.202% → +0.159%: $4.36
Slippage, 4 orders: −$51.59
Fee Lighter: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$80.43
Costs to cover: 0.596%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; SunX: live order book, 7 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, 6 min ago	0.53 bp	0.5 bp −$1	1.5 bp −$15	12.6 bp −$1,265	doesn't fit
Sell SunX live order book, 7 min ago	21.61 bp	32.9 bp −$33	doesn't fit	doesn't fit	doesn't fit

MU on 37 exchanges

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	−0.0543%	4h	1,039.5	+0.076%	$1.3M	$694K	10x	as long as short
Aster MUUSD1	0.0000%	8h	1,039.1	+0.043%	$21.2M	$73.6M	20x	as long as short
Binance MUUSDT	0.0000%	8h	1,039.1	+0.038%	$122.0M	$554.2M	50x	as long as short
OKX MU-USDT-SWAP	0.0000%	8h	1,039.1	+0.038%	$29.8M	$106.7M	50x	as long as short
Gate MU_USDT	0.0000%	8h	1,038.7	+0.003%	$61.3M	$27.3M	75x	as long as short
Bitget MUUSDT	0.0000%	8h	1,038.8	+0.013%	$19.8M	$43.7M	50x	as long as short
Variational Omni MU	0.0000%	8h	1,038.8	+0.012%	$2.6M	$2.5M	—	as long as short
StandX MU-USD	0.0000%	1h	1,038.6	−0.005%	$188K	$3.7M	20x	as long as short
SunX MU-USDTshort	0.0000%	8h	1,040.8	+0.202%	$11K	$4.9M	10x
Deribit MU_USDC-PERPETUAL	0.0000%	1h	1,038.2	−0.045%	$32K	$733K	10x	as long as short

Show all 37 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX MU-USDT	0.0000%	8h	1,038.7	+0.007%	$119K	$473K	50x	as long as short
Lighter RH MU	+0.0032%	1h	1,038.7	−0.002%	$1.2M	$4.4M	10x	as long as short
Injective MU/USDC PERP	+0.0033%	1h	1,051.4	+1.222%	$19K	$5K	12x	as long as short
Aftermath Perps MUUSD	+0.0037%	1h	1,039	+0.031%	$3K	$41K	10x	as long as short
RISEx MU/USDC	+0.0045%	1h	1,039.3	+0.060%	$298K	$334K	20x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,040	+0.128%	—	$177K	25x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,038.8	+0.013%	$169K	$163K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,038.7	−0.002%	$683K	$14K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,037.9	−0.073%	$1.9M	$3.2M	10x	as long as short
QFEX MU-USD	+0.0059%	1h	1,038.6	−0.005%	$7.0M	$19.4M	10x	as long as short
Paradex MU-USD-PERP	+0.0079%	8h	1,038.7	+0.006%	$2K	—	5x	as long as short
Aevo MU-PERP	+0.0080%	1h	1,038.4	−0.022%	$32K	$1K	10x	as long as short
Bybit MUUSDT	+0.0088%	8h	1,039.1	+0.038%	$18.8M	$32.2M	100x	as long as short
Pacifica MU	+0.0100%	1h	1,038.5	−0.019%	$151K	$227K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,038.8	+0.013%	$5.2M	$6.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,039.4	+0.066%	$70K	$270K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,038.8	+0.016%	$826	$799	20x	as long as short
Lighter MUlong	+0.0120%	1h	1,038.7	long leg	$1.0M	$4.9M	20x
BloFin MU-USDT	+0.0120%	8h	1,039	+0.031%	$1.5M	$2.7M	20x	as long as short
Coinbase International MU-PERP-INTX	+0.0136%	1h	1,037.9	−0.076%	$727K	$1.2M	10x	as long as short
Nado MU-PERP	+0.0140%	1h	1,038.5	−0.015%	$276K	$834K	10x	as long as short
GRVT MU_USDT_Perp	+0.0158%	8h	1,039.9	+0.121%	$72K	$1.4M	10x	as long as short
Arcus MU-USD	+0.0186%	1h	1,038.6	−0.009%	$90K	$159K	10x	as long as short
Bullet MU-USD	+0.0235%	1h	1,039.1	+0.041%	$26K	$383K	10x	as long as short
tradeXYZ xyz:MU	+0.0245%	1h	1,038.7	+0.003%	$177.6M	$75.1M	10x	as long as short
Extended MU_24_5-USD	+0.0288%	1h	1,038.2	−0.049%	$551K	$1.1M	10x	as long as short
Phoenix MU	+0.0308%	1h	1,041.5	+0.272%	$533K	$159K	15x	as long as short