Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.030%

Price spread now: Aster against Lighter−0.177%7-day average −0.051% · 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−$133as in the Price arb table

costs, in and out, $10k−$1201.203% of the position

Long on Lighter Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.054%−$5 on $10k

Price spread, last 4 days (all we have)+0.138%+$14 · spread now −0.177%, 7d avg −0.051%

Together, before fees+0.084%+ Points / potential airdropLighter: Season 3 · Aster: Stage 5 · farm board+$8 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: Aster is 0.126% cheaper against Lighter than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of −0.051%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MON	0.02593	0.0096	pay 0.0012% / 1h	56m 33s	$848K	$760K	10x
Short	Aster MONUSDT	0.02588	0.0100	get 0.0050% / 4h	1h 56m	$108K	$233K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster 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 AsterbpOrdersPrice spread, now −0.177%Rate

Funding earned: $0.84
Price spread: −0.177% → −0.051%: −$12.62
Slippage, 4 orders: −$112.26
Fee Lighter: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$132.03
Costs to cover: 1.203%
Break-even: 1107.3 days

Slippage from Lighter: live order book, 24 min ago; Aster: live order book, 25 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, 24 min ago	7.69 bp	16.8 bp −$17	114.8 bp −$1,148	doesn't fit	doesn't fit
Sell Aster live order book, 25 min ago	17.30 bp	32.9 bp −$33	doesn't fit	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
01 Exchange MONUSD	−0.0560%	1h	0.02590	−0.112%	$6K	$1K	5x	as long as short
Deribit MON_USDC-PERPETUAL	−0.0291%	1h	0.02587	−0.216%	$70K	$117K	25x	as long as short
Injective MON/USDC PERP	−0.0053%	1h	0.02582	−0.424%	$6K	$107	5.5x	as long as short
Bybit MONUSDT	−0.0034%	8h	0.02588	−0.193%	$21.6M	$11.8M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02582	−0.413%	$13K	$362K	5x	as long as short
Perpl MON	0.0000%	43m	0.02583	−0.405%	$144K	$1.8M	10x	as long as short
Aftermath Perps MONUSD	+0.0031%	1h	0.02584	−0.328%	$2K	$73K	10x	as long as short
BloFin MON-USDT	+0.0043%	4h	0.02581	−0.463%	$1.4M	$245K	75x	as long as short
Paradex MON-USD-PERP	+0.0065%	8h	0.02590	−0.129%	$8K	$42	5x	as long as short
Orderly PERP_MON_USDC	+0.0075%	4h	0.02584	−0.347%	$17K	$64K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MONlong	+0.0096%	1h	0.02593	long leg	$848K	$760K	10x
Nado MON-PERP	+0.0100%	1h	0.02594	+0.045%	$390K	$534K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02594	+0.050%	$35.0M	$7.5M	5x	as long as short
Aster MONUSDTshort	+0.0100%	4h	0.02588	−0.177%	$108K	$233K	10x
dYdX MON-USD	+0.0100%	1h	0.02589	−0.159%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02590	−0.100%	$143K	$106K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02589	−0.144%	$24.6M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02588	−0.193%	$4.4M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02580	−0.503%	$108K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02590	−0.116%	$1.0M	$862K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02592	−0.039%	$2.8M	$1.8M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02578	−0.563%	$777K	$411K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02580	−0.497%	$47K	$242K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02584	−0.356%	$581K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02580	−0.501%	$69K	$480K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02584	−0.347%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02595	+0.068%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02585	−0.289%	$39K	—	3x	as long as short
Kraken Futures PF_MONUSD	+0.0173%	1h	0.02589	−0.138%	$267K	$67K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02586	−0.262%	$9K	—	50x	as long as short
KuCoin MONUSDTM	+0.0308%	4h	0.02591	−0.077%	$3.2M	$747K	75x	as long as short
Backpack MON_USDC_PERP	+0.0326%	1h	0.02589	−0.143%	$138K	$137K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0536%	1h	0.02607	+0.528%	$114K	$50K	50x	as long as short