MU

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0032%/8h= −3.5% APRnext payment −$0.04 per $10,000 · paid last 24h +0.031%

Price spread now: Deribit against Lighter RH−0.023%7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$320.317% of the position

Long on Lighter RH Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.043%+$4 on $10k

Price spread, last 3 days (all we have)+0.008%+$1 · spread now −0.023%, 7d avg +0.001%

Together, before fees+0.051%+ Points / potential airdropLighter RH: Points live · farm board+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Deribit is 0.024% cheaper against Lighter RH than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.001%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH MU	1,048.9	0.0032	pay 0.0004% / 1h	35m 13s	$1.1M	$4.2M	10x
Short	Deribit MU_USDC-PERPETUAL	1,048.6	0	get 0.0000% / 1h	35m 13s	$66K	$329K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Lighter RH. 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 Lighter RHbpFee DeribitbpOrdersPrice spread, now −0.023%Rate

Funding earned: −$6.72
Price spread: −0.023% → +0.001%: −$2.37
Slippage, 4 orders: −$24.7
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$40.79
Costs to cover: 0.317%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 3 min ago; Deribit: live order book, 33 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 RH live order book, 3 min ago	0.95 bp	3.4 bp −$3	4.6 bp −$46	doesn't fit	doesn't fit
Sell Deribit live order book, 33 min ago	3.09 bp	14.5 bp −$15	19.9 bp −$199	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	−0.0949%	4h	1,048.4	−0.040%	$1.3M	$671K	10x	as long as short
Nado MU-PERP	−0.0006%	1h	1,049	+0.013%	$274K	$858K	10x	as long as short
Bybit MUUSDT	0.0000%	8h	1,049.3	+0.046%	$19.2M	$32.6M	100x	as long as short
Gate MU_USDT	0.0000%	8h	1,049	+0.011%	$62.1M	$27.6M	75x	as long as short
StandX MU-USD	0.0000%	1h	1,048.8	−0.010%	$190K	$3.4M	20x	as long as short
Bullet MU-USD	0.0000%	1h	1,049.1	+0.023%	$26K	$395K	10x	as long as short
SunX MU-USDT	0.0000%	8h	1,050.1	+0.122%	$11K	$6.0M	10x	as long as short
Deribit MU_USDC-PERPETUALshort	0.0000%	1h	1,048.6	−0.023%	$66K	$329K	10x
HTX MU-USDT	0.0000%	8h	1,048.9	+0.002%	$129K	$430K	50x	as long as short
Aftermath Perps MUUSD	+0.0020%	1h	1,048.8	−0.005%	$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
Lighter MU	+0.0032%	1h	1,048.9	+0.002%	$1.1M	$4.8M	20x	as long as short
Lighter RH MUlong	+0.0032%	1h	1,048.9	long leg	$1.1M	$4.2M	10x
Extended MU_24_5-USD	+0.0032%	1h	1,048.4	−0.040%	$567K	$1.2M	10x	as long as short
QFEX MU-USD	+0.0040%	1h	1,049	+0.009%	$7.5M	$20.0M	10x	as long as short
Arcus MU-USD	+0.0040%	1h	1,048.8	−0.004%	$71K	$237K	10x	as long as short
Vest MU-USD-PERP	+0.0046%	1h	1,050	+0.110%	—	$176K	25x	as long as short
tradeXYZ xyz:MU	+0.0050%	1h	1,048.8	−0.006%	$178.0M	$99.9M	10x	as long as short
Polymarket Perps MU-USD	+0.0050%	1h	1,048.8	−0.006%	$170K	$203K	10x	as long as short
SoDEX MU-USD	+0.0050%	1h	1,048.9	+0.002%	$688K	$16K	10x	as long as short
Ondo Perps MU-USD.P	+0.0050%	1h	1,048.4	−0.044%	$1.9M	$2.4M	10x	as long as short
Paradex MU-USD-PERP	+0.0067%	8h	1,049.3	+0.042%	$2K	—	5x	as long as short
OKX MU-USDT-SWAP	+0.0069%	8h	1,049	+0.014%	$30.8M	$100.7M	50x	as long as short
Pacifica MU	+0.0100%	1h	1,048.9	+0.003%	$148K	$186K	10x	as long as short
KuCoin MUUSDTM	+0.0100%	8h	1,048.9	0.000%	$5.3M	$3.5M	20x	as long as short
ApeX Omni MUUSDT	+0.0100%	1h	1,048.9	+0.001%	$71K	$267K	50x	as long as short
Orderly PERP_MU_USDC_mythos	+0.0100%	8h	1,048.9	+0.007%	$834	$799	20x	as long as short
Injective MU/USDC PERP	+0.0107%	1h	1,051.4	+0.238%	$19K	$5K	12x	as long as short
Coinbase International MU-PERP-INTX	+0.0128%	1h	1,048.1	−0.074%	$759K	$1.2M	10x	as long as short
Aevo MU-PERP	+0.0136%	1h	1,048.7	−0.018%	$32K	$1K	10x	as long as short
GRVT MU_USDT_Perp	+0.0158%	8h	1,049	+0.010%	$81K	$1.3M	10x	as long as short
Aster MUUSD1	+0.0200%	8h	1,049.2	+0.030%	$21.6M	$50.1M	20x	as long as short
Variational Omni MU	+0.0204%	8h	1,049.1	+0.022%	$2.7M	$2.4M	—	as long as short
Binance MUUSDT	+0.0218%	8h	1,049.2	+0.028%	$126.9M	$525.0M	50x	as long as short
Bitget MUUSDT	+0.0274%	8h	1,049.1	+0.022%	$20.3M	$41.9M	50x	as long as short
Phoenix MU	+0.0304%	1h	1,049.2	+0.032%	$537K	$273K	15x	as long as short
BloFin MU-USDT	+0.0368%	8h	1,049.8	+0.091%	$1.5M	$2.0M	20x	as long as short
RISEx MU/USDC	+0.0507%	1h	1,049.2	+0.029%	$333K	$348K	20x	as long as short