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: Binance against Lighter0.000%7-day average −0.080% · you sell dearer than you buy

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$700.698% of the position

Long on Lighter Short on Binance

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)−0.056%−$6 · spread now 0.000%, 7d avg −0.080%

Together, before fees−0.120%+ Points / potential airdropLighter: Season 3 · farm board−$12 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: Binance is 0.080% dearer against Lighter than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.080%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MON	0.02586	0.0096	pay 0.0012% / 1h	55m 36s	$847K	$753K	10x
Short	Binance MONUSDT	0.02586	0.0100	get 0.0050% / 4h	2h 55m	$24.6M	$24.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now 0.000%Rate

Funding earned: $0.84
Price spread: 0.000% → −0.080%: $8.02
Slippage, 4 orders: −$59.82
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$60.95
Costs to cover: 0.698%
Break-even: 514.9 days

Slippage from Lighter: live order book, 29 min ago; Binance: live order book, 1 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, 29 min ago	11.64 bp	13.3 bp −$13	118.5 bp −$1,185	doesn't fit	doesn't fit
Sell Binance live order book, 1 min ago	1.93 bp	18.1 bp −$18	61.7 bp −$617	304.7 bp −$30.5K	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	0.02581	−0.193%	$6K	$106	5.5x	as long as short
01 Exchange MONUSD	−0.0424%	1h	0.02583	−0.135%	$6K	$1K	5x	as long as short
Phoenix MON	0.0000%	1h	0.02602	+0.607%	$14K	$371K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02585	−0.035%	$64K	$103K	25x	as long as short
Bybit MONUSDT	+0.0002%	8h	0.02586	0.000%	$21.6M	$11.8M	50x	as long as short
Orderly PERP_MON_USDC	+0.0093%	4h	0.02582	−0.155%	$17K	$64K	10x	as long as short
Lighter MONlong	+0.0096%	1h	0.02586	long leg	$847K	$753K	10x
Paradex MON-USD-PERP	+0.0099%	8h	0.02584	−0.058%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02590	+0.137%	$347K	$535K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02587	+0.046%	$34.9M	$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	0.02585	−0.039%	$108K	$233K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02585	−0.039%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02586	0.000%	$143K	$108K	3x	as long as short
Binance MONUSDTshort	+0.0100%	4h	0.02586	0.000%	$24.6M	$24.6M	75x
OKX MON-USDT-SWAP	+0.0100%	4h	0.02585	−0.039%	$4.4M	$6.1M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02610	+0.928%	$110K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02585	−0.039%	$1.0M	$924K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02587	+0.039%	$2.7M	$1.8M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02579	−0.252%	$775K	$403K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02589	+0.097%	$48K	$241K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02590	+0.138%	$580K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02587	+0.039%	$69K	$482K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02583	−0.116%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02588	+0.084%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02584	−0.070%	$39K	—	3x	as long as short
Backpack MON_USDC_PERP	+0.0108%	1h	0.02584	−0.058%	$136K	$137K	10x	as long as short
Kraken Futures PF_MONUSD	+0.0132%	1h	0.02586	+0.003%	$259K	$60K	10x	as long as short
BloFin MON-USDT	+0.0134%	4h	0.02583	−0.116%	$1.4M	$242K	75x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0313% / S −0.1052%	1h	0.02585	−0.035%	$13K	—	50x	as long as short
KuCoin MONUSDTM	+0.0374%	4h	0.02589	+0.116%	$3.2M	$790K	75x	as long as short
Aftermath Perps MONUSD	+0.0421%	1h	0.02597	+0.433%	$2K	$73K	10x	as long as short
Perpl MON	+0.0447%	43m	0.02584	−0.070%	$145K	$1.8M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0648%	1h	0.02625	+1.520%	$115K	$51K	50x	as long as short