Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.026%

Price spread now: Lighter against Aster−0.030%7-day average +0.045% · 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−$114as in the Price arb table

costs, in and out, $10k−$1061.061% of the position

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.052%+$5 on $10k

Price spread, last 4 days (all we have)−0.002%$0 · spread now −0.030%, 7d avg +0.045%

Together, before fees+0.050%+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm board+$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.075% cheaper against Aster than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MONUSDT	0.02579	0.0100	pay 0.0050% / 4h	3h 20m	$107K	$231K	10x
Short	Lighter MON	0.02578	0.0096	get 0.0012% / 1h	20m 39s	$859K	$755K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aster. 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 AsterbpFee LighterbpOrdersPrice spread, now −0.030%Rate

Funding earned: −$0.84
Price spread: −0.030% → +0.045%: −$7.49
Slippage, 4 orders: −$98.05
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$114.38
Costs to cover: 1.061%
Break-even: never at this rate

Slippage from Aster: live order book, 51 min ago; Lighter: live order book, 49 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 Aster live order book, 51 min ago	15.66 bp	36.4 bp −$36	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 49 min ago	9.76 bp	25.0 bp −$25	131.5 bp −$1,315	doesn't fit	doesn't fit

MON on 33 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
Injective MON/USDC PERP	−0.0444%	1h	0.02576	−0.108%	$6K	$107	5.5x	as long as short
Deribit MON_USDC-PERPETUAL	−0.0060%	1h	0.02579	+0.020%	$70K	$119K	25x	as long as short
Phoenix MON	0.0000%	1h	0.02577	−0.061%	$13K	$351K	5x	as long as short
01 Exchange MONUSD	+0.0048%	1h	0.02579	+0.017%	$6K	$1K	5x	as long as short
Orderly PERP_MON_USDC	+0.0066%	4h	0.02577	−0.069%	$17K	$64K	10x	as long as short
Paradex MON-USD-PERP	+0.0090%	8h	0.02576	−0.114%	$8K	$42	5x	as long as short
Lighter MONshort	+0.0096%	1h	0.02578	−0.030%	$859K	$755K	10x
Nado MON-PERP	+0.0100%	1h	0.02582	+0.144%	$394K	$528K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02581	+0.102%	$35.1M	$7.3M	5x	as long as short
Aster MONUSDTlong	+0.0100%	4h	0.02579	long leg	$107K	$231K	10x

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX MON-USD	+0.0100%	1h	0.02579	−0.009%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02578	−0.030%	$142K	$104K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02576	−0.127%	$24.6M	$25.3M	75x	as long as short
Bybit MONUSDT	+0.0100%	8h	0.02576	−0.108%	$21.4M	$12.1M	50x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02573	−0.224%	$4.3M	$5.8M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02580	+0.048%	$106K	$2K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02579	+0.009%	$973K	$910K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02579	+0.009%	$2.8M	$1.9M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02578	−0.022%	$129K	$141K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02576	−0.105%	$775K	$411K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02579	+0.002%	$44K	$248K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02584	+0.203%	$578K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02583	+0.164%	$69K	$486K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02577	−0.069%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02580	+0.063%	$49K	$520K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02578	−0.034%	$39K	—	3x	as long as short
KuCoin MONUSDTM	+0.0152%	4h	0.02582	+0.125%	$3.0M	$722K	75x	as long as short
Aftermath Perps MONUSD	+0.0188%	1h	0.02581	+0.071%	$4K	$74K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02579	+0.024%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02577	−0.069%	$1.4M	$307K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02576	−0.088%	$167K	$2.0M	10x	as long as short
Kraken Futures PF_MONUSD	+0.0463%	1h	0.02582	+0.109%	$271K	$78K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0808%	1h	0.02584	+0.207%	$113K	$51K	50x	as long as short