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 Gate−0.039%7-day average +0.085% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$100as in the Price arb table

costs, in and out, $10k−$880.877% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.084%+$8 on $10k

Price spread, last 4 days (all we have)+0.306%+$31 · spread now −0.039%, 7d avg +0.085%

Together, before fees+0.390%+ Points / potential airdropLighter: Season 3 · farm board+$39 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 0.124% cheaper against Gate than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of +0.085%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MON_USDT	0.02596	0.0100	pay 0.0050% / 4h	2h 12m	$1.0M	$935K	50x
Short	Lighter MON	0.02595	0.0096	get 0.0012% / 1h	12m 35s	$852K	$758K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Gate. 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 GatebpFee LighterbpOrdersPrice spread, now −0.039%Rate

Funding earned: −$0.84
Price spread: −0.039% → +0.085%: −$12.38
Slippage, 4 orders: −$72.73
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$100.95
Costs to cover: 0.877%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; Lighter: 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 Gate live order book, 4 min ago	3.85 bp	26.3 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 7 min ago	7.69 bp	20.1 bp −$20	133.8 bp −$1,338	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	0.02599	+0.116%	$6K	$110	5.5x	as long as short
Deribit MON_USDC-PERPETUAL	−0.0289%	1h	0.02595	−0.054%	$63K	$110K	25x	as long as short
01 Exchange MONUSD	−0.0232%	1h	0.02591	−0.200%	$6K	$1K	5x	as long as short
Bybit MONUSDT	−0.0003%	8h	0.02590	−0.235%	$21.6M	$11.8M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02599	+0.108%	$14K	$384K	5x	as long as short
Orderly PERP_MON_USDC	+0.0091%	4h	0.02594	−0.077%	$17K	$64K	10x	as long as short
Paradex MON-USD-PERP	+0.0095%	8h	0.02593	−0.129%	$8K	$42	5x	as long as short
Lighter MONshort	+0.0096%	1h	0.02595	−0.039%	$852K	$758K	10x
Nado MON-PERP	+0.0100%	1h	0.02597	+0.033%	$383K	$533K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02597	+0.031%	$35.0M	$7.5M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster MONUSDT	+0.0100%	4h	0.02596	−0.009%	$108K	$233K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02598	+0.093%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02595	−0.039%	$143K	$106K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02593	−0.116%	$24.6M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02590	−0.231%	$4.4M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02602	+0.231%	$109K	$3K	10x	as long as short
Gate MON_USDTlong	+0.0100%	4h	0.02596	long leg	$1.0M	$935K	50x
Bitget MONUSDT	+0.0100%	4h	0.02596	0.000%	$2.8M	$1.8M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02596	+0.015%	$782K	$412K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02600	+0.167%	$48K	$244K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02598	+0.087%	$585K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02600	+0.154%	$69K	$480K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02593	−0.116%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02597	+0.025%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02593	−0.135%	$39K	—	3x	as long as short
BloFin MON-USDT	+0.0125%	4h	0.02599	+0.116%	$1.4M	$246K	75x	as long as short
Kraken Futures PF_MONUSD	+0.0131%	1h	0.02598	+0.062%	$268K	$67K	10x	as long as short
Aftermath Perps MONUSD	+0.0136%	1h	0.02599	+0.122%	$2K	$73K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02597	+0.035%	$9K	—	50x	as long as short
Backpack MON_USDC_PERP	+0.0309%	1h	0.02594	−0.065%	$138K	$137K	10x	as long as short
KuCoin MONUSDTM	+0.0382%	4h	0.02598	+0.077%	$3.2M	$747K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02597	+0.031%	$145K	$1.8M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0648%	1h	0.02607	+0.412%	$114K	$50K	50x	as long as short