Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.030%

Price spread now: Lighter against edgeX+0.017%49s7-day average +0.111% · you sell dearer than you buy

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$860.857% of the position

Long on edgeX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.064%+$6 on $10k

Price spread, last 3 days (all we have)−0.210%−$21 · spread now +0.017%, 7d avg +0.111%

Together, before fees−0.145%+ Points / potential airdropedgeX: Active · Lighter: Season 3 · farm board−$15 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 0.094% cheaper against edgeX than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.111%. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX MONUSDC	0.02585	0.0100	pay 0.0050% / 4h	2h 44m	$47K	$243K	10x
Short	Lighter MON	0.02585	0.0096	get 0.0012% / 1h	44m 42s	$847K	$753K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against edgeX. 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 edgeXbpFee LighterbpOrdersPrice spread, now +0.017%Rate

Funding earned: −$0.84
Price spread: +0.017% → +0.111%: −$9.42
Slippage, 4 orders: −$76.73
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: −$95.99
Costs to cover: 0.857%
Break-even: never at this rate

Slippage from edgeX: live order book, 42 min ago; Lighter: live order book, 40 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 edgeX live order book, 42 min ago	11.63 bp	23.5 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 40 min ago	11.64 bp	25.7 bp −$26	121.5 bp −$1,215	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	−0.0739%	1h	0.02587	+0.094%	$6K	$107	5.5x	as long as short
01 Exchange MONUSD	−0.0128%	1h	0.02581	−0.138%	$6K	$1K	5x	as long as short
Deribit MON_USDC-PERPETUAL	−0.0059%	1h	0.02587	+0.094%	$63K	$110K	25x	as long as short
Phoenix MON	0.0000%	1h	0.02587	+0.082%	$13K	$384K	5x	as long as short
Bybit MONUSDT	+0.0013%	8h	0.02581	−0.142%	$21.5M	$11.8M	50x	as long as short
Orderly PERP_MON_USDC	+0.0092%	4h	0.02585	+0.017%	$17K	$64K	10x	as long as short
Lighter MONshort	+0.0096%	1h	0.02585	+0.017%	$847K	$753K	10x
Paradex MON-USD-PERP	+0.0099%	8h	0.02582	−0.107%	$8K	$42	5x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02586	+0.040%	$34.8M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02585	+0.021%	$108K	$233K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX MON-USD	+0.0100%	1h	0.02587	+0.102%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02583	−0.061%	$143K	$107K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02581	−0.122%	$24.5M	$24.5M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02580	−0.177%	$4.4M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02575	−0.370%	$108K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02584	−0.022%	$1.0M	$929K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02585	+0.017%	$2.7M	$1.8M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02584	−0.041%	$776K	$405K	—	as long as short
edgeX MONUSDClong	+0.0100%	4h	0.02585	long leg	$47K	$243K	10x
GRVT MON_USDT_Perp	+0.0100%	4h	0.02585	+0.017%	$581K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02585	+0.017%	$69K	$484K	50x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02587	+0.080%	$349K	$534K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02585	+0.017%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02585	+0.019%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02585	+0.017%	$39K	—	3x	as long as short
Kraken Futures PF_MONUSD	+0.0132%	1h	0.02589	+0.182%	$263K	$63K	10x	as long as short
BloFin MON-USDT	+0.0140%	4h	0.02586	+0.055%	$1.4M	$243K	75x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02586	+0.063%	$9K	—	50x	as long as short
Backpack MON_USDC_PERP	+0.0271%	1h	0.02584	−0.007%	$137K	$137K	10x	as long as short
KuCoin MONUSDTM	+0.0354%	4h	0.02590	+0.210%	$3.2M	$789K	75x	as long as short
Aftermath Perps MONUSD	+0.0363%	1h	0.02584	−0.009%	$2K	$73K	10x	as long as short
Perpl MON	+0.0447%	43m	0.02584	−0.003%	$145K	$1.8M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0648%	1h	0.02595	+0.423%	$114K	$51K	50x	as long as short