Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Bitget against Lighter+0.039%7-day average −0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$89as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$790.789% of the position

Long on Lighter Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.101%−$10 on $10k

Price spread, last 4 days (all we have)−0.142%−$14 · spread now +0.039%, 7d avg −0.045%

Together, before fees−0.243%+ Points / potential airdropLighter: Season 3 · farm board−$24 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: Bitget is 0.084% dearer against Lighter than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MON	0.02556	0.0096	pay 0.0012% / 1h	11m 06s	$849K	$794K	10x
Short	Bitget MONUSDT	0.02557	0.0100	get 0.0050% / 4h	11m 06s	$2.7M	$1.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.039%Rate

Funding earned: $0.84
Price spread: +0.039% → −0.045%: $8.36
Slippage, 4 orders: −$66.92
Fee Lighter: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$69.71
Costs to cover: 0.789%
Break-even: 588.0 days

Slippage from Lighter: live order book, 64 min ago; Bitget: 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, 64 min ago	11.64 bp	21.4 bp −$21	130.8 bp −$1,308	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	7.82 bp	24.5 bp −$25	58.6 bp −$586	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	−0.0121%	1h	0.02559	+0.117%	$6K	$109	5.5x	as long as short
01 Exchange MONUSD	−0.0096%	1h	0.02555	−0.055%	$6K	$1K	5x	as long as short
Bybit MONUSDT	−0.0030%	8h	0.02553	−0.117%	$21.1M	$12.1M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02557	+0.023%	$13K	$360K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02556	−0.016%	$69K	$119K	25x	as long as short
Orderly PERP_MON_USDC	+0.0070%	4h	0.02555	−0.039%	$17K	$64K	10x	as long as short
Lighter MONlong	+0.0096%	1h	0.02556	long leg	$849K	$794K	10x
Paradex MON-USD-PERP	+0.0096%	8h	0.02554	−0.067%	$8K	$42	5x	as long as short
Aftermath Perps MONUSD	+0.0097%	1h	0.02559	+0.102%	$3K	$75K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02558	+0.061%	$390K	$542K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid MON	+0.0100%	1h	0.02557	+0.047%	$34.6M	$7.7M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02557	+0.028%	$106K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02557	+0.051%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02556	+0.012%	$141K	$105K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02555	−0.039%	$24.4M	$25.5M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02552	−0.156%	$4.3M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02555	−0.039%	$107K	$390	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02556	0.000%	$975K	$912K	50x	as long as short
Bitget MONUSDTshort	+0.0100%	4h	0.02557	+0.039%	$2.7M	$1.9M	25x
Backpack MON_USDC_PERP	+0.0100%	1h	0.02556	−0.016%	$127K	$141K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02552	−0.171%	$772K	$407K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02555	−0.031%	$47K	$243K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02558	+0.083%	$579K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02558	+0.078%	$68K	$481K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02554	−0.078%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02557	+0.046%	$51K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02554	−0.078%	$39K	—	3x	as long as short
KuCoin MONUSDTM	+0.0254%	4h	0.02561	+0.196%	$3.0M	$719K	75x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0598%	1h	0.02555	−0.039%	$8K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02556	0.000%	$1.3M	$306K	75x	as long as short
Kraken Futures PF_MONUSD	+0.0422%	1h	0.02558	+0.083%	$269K	$78K	10x	as long as short
Perpl MON	+0.0447%	43m	0.02556	+0.004%	$124K	$1.8M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0480%	1h	0.02609	+2.070%	$115K	$50K	50x	as long as short