Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.019%

Price spread now: edgeX against Lighter+0.015%79s7-day average −0.105% · you sell dearer than you buy

Net, funding: paid 7d − costs−$85as 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−$790.789% of the position

Long on Lighter Short on edgeX

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)+0.178%+$18 · spread now +0.015%, 7d avg −0.105%

Together, before fees+0.114%+ Points / potential airdropLighter: Season 3 · edgeX: Active · farm board+$11 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: edgeX is 0.119% dearer against Lighter than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.105%. The two prices were read 79 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	Lighter MON	0.02509	0.0096	pay 0.0012% / 1h	27m 49s	$845K	$749K	10x
Short	edgeX MONUSDC	0.02509	0.0100	get 0.0050% / 4h	27m 49s	$41K	$251K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.015%Rate

Funding earned: $0.84
Price spread: +0.015% → −0.105%: $11.94
Slippage, 4 orders: −$69.92
Fee Lighter: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$66.14
Costs to cover: 0.789%
Break-even: 558.2 days

Slippage from Lighter: live order book, 27 min ago; edgeX: live order book, 30 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, 27 min ago	9.92 bp	20.0 bp −$20	138.2 bp −$1,382	doesn't fit	doesn't fit
Sell edgeX live order book, 30 min ago	7.95 bp	19.0 bp −$19	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	−0.0312%	1h	0.02510	+0.036%	$6K	$1K	5x	as long as short
Backpack MON_USDC_PERP	−0.0218%	1h	0.02509	−0.008%	$113K	$151K	10x	as long as short
Injective MON/USDC PERP	−0.0176%	1h	0.02498	−0.438%	$5K	$112	5.5x	as long as short
Bybit MONUSDT	−0.0152%	8h	0.02506	−0.136%	$20.6M	$13.2M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02515	+0.223%	$12K	$359K	5x	as long as short
Perpl MON	0.0000%	43m	0.02513	+0.143%	$108K	$2.3M	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02506	−0.128%	$74K	$136K	25x	as long as short
Orderly PERP_MON_USDC	+0.0071%	4h	0.02508	−0.040%	$16K	$41K	10x	as long as short
Variational Omni MON	+0.0077%	8h	0.02509	+0.002%	$741K	$409K	—	as long as short
Paradex MON-USD-PERP	+0.0091%	8h	0.02510	+0.060%	$8K	$42	5x	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	0.02509	long leg	$845K	$749K	10x
Nado MON-PERP	+0.0100%	1h	0.02514	+0.192%	$428K	$573K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02511	+0.084%	$33.9M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02510	+0.031%	$101K	$222K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02512	+0.106%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02510	+0.044%	$138K	$93K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02508	−0.040%	$23.8M	$26.9M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02507	−0.080%	$4.2M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02495	−0.568%	$102K	$5K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02510	+0.040%	$942K	$993K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02513	+0.159%	$2.8M	$752K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02510	+0.040%	$2.7M	$2.2M	25x	as long as short
edgeX MONUSDCshort	+0.0100%	4h	0.02509	+0.015%	$41K	$251K	10x
GRVT MON_USDT_Perp	+0.0100%	4h	0.02511	+0.092%	$563K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02503	−0.239%	$67K	$508K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02505	−0.159%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02509	−0.012%	$48K	$521K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02505	−0.179%	$38K	—	3x	as long as short
Aftermath Perps MONUSD	+0.0246%	1h	0.02508	−0.053%	$2K	$74K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02508	−0.052%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02520	+0.438%	$1.3M	$340K	75x	as long as short
Coinbase International MON-PERP-INTX	+0.0408%	1h	0.02528	+0.769%	$110K	$57K	50x	as long as short
Kraken Futures PF_MONUSD	+0.0543%	1h	0.02511	+0.087%	$269K	$114K	10x	as long as short