Funding you earn now, next payment 21:00 UTC+0.0096%/8h= +10.5% APRnext payment +$0.12 per $10,000 · paid last 24h +0.024%
Price spread now: Lighter against Phoenix+0.249%74s7-day average +0.033% · you sell dearer than you buy
Net, funding: paid 7d − costs−$32as 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−$650.648% of the position
Funding, last 7 days+0.328%+$33 on $10k
+Price spread, last 3 days (all we have)−0.799%−$80 · spread now +0.249%, 7d avg +0.033%
=Together, before fees−0.471%+ Points / potential airdropLighter: Season 3 · farm board−$47 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Lighter is 0.216% dearer against Phoenix than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of +0.033%. The two prices were read 74 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 | Phoenix MON | 0.02574 | 0 | get 0.0000% / 1h | 50m 17s | $13K | $384K | 5x |
| Short | Lighter MON | 0.02580 | 0.0096 | get 0.0012% / 1h | 50m 17s | $845K | $753K | 10x |
Phoenix MON
Lighter MONFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $20.16
- Price spread: +0.249% → +0.033%
- $21.61
- Slippage, 4 orders
- −$57.8
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$23.03
- Costs to cover
- 0.648%
- Break-even
- 15.0 days
Slippage from Phoenix: live order book, 36 min ago; Lighter: live order book, 34 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 Phoenix live order book, 36 min ago | 1.16 bp | 12.9 bp −$13 | 52.4 bp −$524 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 34 min ago | 11.64 bp | 25.7 bp −$26 | 121.5 bp −$1,215 | 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 | −0.0739% | 1h | 0.02587 | +0.521% | $6K | $107 | 5.5x | as long as short |
| 01 Exchange MONUSD | −0.0128% | 1h | 0.02578 | +0.159% | $6K | $1K | 5x | as long as short |
| Phoenix MONlong | 0.0000% | 1h | 0.02574 | long leg | $13K | $384K | 5x | |
| Deribit MON_USDC-PERPETUAL | 0.0000% | 1h | 0.02581 | +0.303% | $63K | $110K | 25x | as long as short |
| Bybit MONUSDT | +0.0002% | 8h | 0.02577 | +0.132% | $21.5M | $11.8M | 50x | as long as short |
| Orderly PERP_MON_USDC | +0.0092% | 4h | 0.02579 | +0.210% | $17K | $64K | 10x | as long as short |
| Lighter MONshort | +0.0096% | 1h | 0.02580 | +0.249% | $845K | $753K | 10x | |
| Paradex MON-USD-PERP | +0.0099% | 8h | 0.02578 | +0.178% | $8K | $42 | 5x | as long as short |
| Nado MON-PERP | +0.0100% | 1h | 0.02581 | +0.300% | $348K | $536K | 10x | as long as short |
| Hyperliquid MON | +0.0100% | 1h | 0.02582 | +0.342% | $34.8M | $7.5M | 5x | as long as short |
Injective MON/USDC PERP
01 Exchange MONUSD
Deribit MON_USDC-PERPETUAL
Bybit MONUSDT
Orderly PERP_MON_USDC
Paradex MON-USD-PERP
Nado MON-PERP
Hyperliquid MONShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster MONUSDT | +0.0100% | 4h | 0.02580 | +0.241% | $107K | $233K | 10x | as long as short |
| dYdX MON-USD | +0.0100% | 1h | 0.02580 | +0.245% | $13K | — | 5x | as long as short |
| Pacifica MON | +0.0100% | 1h | 0.02579 | +0.210% | $142K | $108K | 3x | as long as short |
| Binance MONUSDT | +0.0100% | 4h | 0.02579 | +0.202% | $24.5M | $24.6M | 75x | as long as short |
| OKX MON-USDT-SWAP | +0.0100% | 4h | 0.02576 | +0.093% | $4.4M | $6.0M | 50x | as long as short |
| Bulk MON-USD | +0.0100% | 1h | 0.02575 | +0.054% | $108K | $3K | 10x | as long as short |
| Gate MON_USDT | +0.0100% | 4h | 0.02579 | +0.210% | $1.0M | $926K | 50x | as long as short |
| Bitget MONUSDT | +0.0100% | 4h | 0.02580 | +0.249% | $2.7M | $1.8M | 25x | as long as short |
| Variational Omni MON | +0.0100% | 8h | 0.02573 | −0.042% | $773K | $405K | — | as long as short |
| edgeX MONUSDC | +0.0100% | 4h | 0.02576 | +0.078% | $47K | $242K | 10x | as long as short |
| GRVT MON_USDT_Perp | +0.0100% | 4h | 0.02587 | +0.539% | $582K | $1.5M | 10x | as long as short |
| ApeX Omni MONUSDT | +0.0100% | 1h | 0.02576 | +0.093% | $69K | $482K | 50x | as long as short |
| SoDEX MON-USD | +0.0100% | 1h | 0.02578 | +0.171% | $5K | $6K | 5x | as long as short |
| Extended MON-USD | +0.0104% | 1h | 0.02583 | +0.351% | $52K | $407K | 10x | as long as short |
| Aevo MON-PERP | +0.0104% | 1h | 0.02578 | +0.171% | $39K | — | 3x | as long as short |
| BloFin MON-USDT | +0.0123% | 4h | 0.02572 | −0.062% | $1.4M | $241K | 75x | as long as short |
| Kraken Futures PF_MONUSD | +0.0132% | 1h | 0.02582 | +0.331% | $262K | $63K | 10x | as long as short |
| Backpack MON_USDC_PERP | +0.0179% | 1h | 0.02577 | +0.148% | $136K | $138K | 10x | as long as short |
| GMX MON/USD [ETH-USDC] | L +0.0313% / S −0.1052% | 1h | 0.02581 | +0.288% | $13K | — | 50x | as long as short |
| KuCoin MONUSDTM | +0.0356% | 4h | 0.02584 | +0.404% | $3.1M | $790K | 75x | as long as short |
| Aftermath Perps MONUSD | +0.0412% | 1h | 0.02584 | +0.413% | $2K | $73K | 10x | as long as short |
| Perpl MON | +0.0447% | 43m | 0.02579 | +0.221% | $145K | $1.8M | 10x | as long as short |
| Coinbase International MON-PERP-INTX | +0.0648% | 1h | 0.02625 | +2.009% | $115K | $51K | 50x | as long as short |
Aster MONUSDT
dYdX MON-USD
Pacifica MON
Binance MONUSDT
OKX MON-USDT-SWAP
Bulk MON-USD
Gate MON_USDT
Bitget MONUSDT
Variational Omni MON
edgeX MONUSDC
GRVT MON_USDT_Perp
ApeX Omni MONUSDT
SoDEX MON-USD
Extended MON-USD
Aevo MON-PERP
BloFin MON-USDT
Kraken Futures PF_MONUSD
Backpack MON_USDC_PERP
GMX MON/USD [ETH-USDC]
KuCoin MONUSDTM
Aftermath Perps MONUSD
Perpl MON
Coinbase International MON-PERP-INTX