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 −0.050%

Price spread now: GRVT against Lighter+0.078%7-day average +0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$105as in the Funding arb table

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$980.985% of the position

Long on Lighter Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.070%−$7 on $10k

Price spread, last 3 days (all we have)+0.064%+$6 · spread now +0.078%, 7d avg +0.001%

Together, before fees−0.006%+ Points / potential airdropLighter: Season 3 · GRVT: Active · farm board−$1 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: GRVT is 0.077% dearer against Lighter than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MON	0.02571	0.0096	pay 0.0012% / 1h	29m 35s	$854K	$793K	10x
Short	GRVT MON_USDT_Perp	0.02573	0.0100	get 0.0050% / 4h	29m 35s	$583K	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.078%Rate

Funding earned: $0.84
Price spread: +0.078% → +0.001%: $7.68
Slippage, 4 orders: −$89.46
Fee Lighter: 0 bp × 2 orders: $0
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$89.94
Costs to cover: 0.985%
Break-even: 756.5 days

Slippage from Lighter: live order book, 45 min ago; GRVT: live order book, 4 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, 45 min ago	11.64 bp	21.4 bp −$21	130.8 bp −$1,308	doesn't fit	doesn't fit
Sell GRVT live order book, 4 min ago	3.88 bp	24.2 bp −$24	70.2 bp −$702	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	0.02576	+0.194%	$6K	$107	5.5x	as long as short
01 Exchange MONUSD	−0.0072%	1h	0.02569	−0.070%	$6K	$1K	5x	as long as short
Bybit MONUSDT	−0.0033%	8h	0.02568	−0.117%	$21.3M	$12.0M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02576	+0.202%	$13K	$360K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02570	−0.039%	$69K	$119K	25x	as long as short
Orderly PERP_MON_USDC	+0.0069%	4h	0.02569	−0.078%	$17K	$64K	10x	as long as short
Aftermath Perps MONUSD	+0.0082%	1h	0.02577	+0.215%	$2K	$75K	10x	as long as short
Paradex MON-USD-PERP	+0.0094%	8h	0.02568	−0.103%	$8K	$42	5x	as long as short
Lighter MONlong	+0.0096%	1h	0.02571	long leg	$854K	$793K	10x
Nado MON-PERP	+0.0100%	1h	0.02574	+0.098%	$392K	$544K	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	0.02573	+0.082%	$34.8M	$7.6M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02569	−0.067%	$108K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02573	+0.063%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02570	−0.039%	$142K	$105K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02570	−0.039%	$24.5M	$25.4M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02567	−0.156%	$4.3M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02570	−0.039%	$108K	$390	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02569	−0.078%	$978K	$909K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02571	0.000%	$2.7M	$1.9M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02570	−0.051%	$128K	$141K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02568	−0.109%	$778K	$408K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02574	+0.115%	$47K	$244K	10x	as long as short
GRVT MON_USDT_Perpshort	+0.0100%	4h	0.02573	+0.078%	$583K	$1.5M	10x
ApeX Omni MONUSDT	+0.0100%	1h	0.02575	+0.156%	$69K	$481K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02569	−0.078%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02573	+0.079%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02570	−0.054%	$39K	—	3x	as long as short
KuCoin MONUSDTM	+0.0256%	4h	0.02572	+0.039%	$3.0M	$716K	75x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0598%	1h	0.02569	−0.058%	$8K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02570	−0.039%	$1.4M	$308K	75x	as long as short
Kraken Futures PF_MONUSD	+0.0420%	1h	0.02573	+0.096%	$270K	$78K	10x	as long as short
Perpl MON	+0.0447%	43m	0.02572	+0.039%	$126K	$1.8M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0480%	1h	0.02609	+1.474%	$115K	$50K	50x	as long as short