Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.019%

Price spread now: Lighter against Aster+0.233%7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$1061.063% of the position

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)+0.054%+$5 on $10k

Price spread, last 4 days (all we have)−0.265%−$26 · spread now +0.233%, 7d avg +0.045%

Together, before fees−0.210%+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm board−$21 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: Lighter is 0.188% dearer against Aster than usual: you sell high and buy low, +$19 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	Aster MONUSDT	0.02487	0.0100	pay 0.0050% / 4h	1h 31m	$98K	$221K	10x
Short	Lighter MON	0.02493	0.0096	get 0.0012% / 1h	31m 14s	$799K	$787K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aster. 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 AsterbpFee LighterbpOrdersPrice spread, now +0.233%Rate

Funding earned: −$0.84
Price spread: +0.233% → +0.045%: $18.76
Slippage, 4 orders: −$98.34
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$88.42
Costs to cover: 1.063%
Break-even: never at this rate

Slippage from Aster: live order book, 10 min ago; Lighter: live order book, 9 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 Aster live order book, 10 min ago	16.01 bp	33.2 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 9 min ago	2.00 bp	28.9 bp −$29	146.4 bp −$1,464	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
Phoenix MON	0.0000%	1h	0.02487	−0.001%	$13K	$353K	5x	as long as short
Bybit MONUSDT	+0.0062%	8h	0.02490	+0.112%	$20.5M	$13.7M	50x	as long as short
Orderly PERP_MON_USDC	+0.0085%	4h	0.02490	+0.112%	$16K	$48K	10x	as long as short
Lighter MONshort	+0.0096%	1h	0.02493	+0.233%	$799K	$787K	10x
Paradex MON-USD-PERP	+0.0100%	8h	0.02489	+0.087%	$7K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02495	+0.321%	$397K	$572K	10x	as long as short
Aster MONUSDTlong	+0.0100%	4h	0.02487	long leg	$98K	$221K	10x
dYdX MON-USD	+0.0100%	1h	0.02487	−0.012%	$12K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02489	+0.076%	$138K	$91K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02491	+0.139%	$23.7M	$27.6M	75x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX MON-USDT-SWAP	+0.0100%	4h	0.02491	+0.152%	$4.2M	$6.1M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02485	−0.089%	$102K	$1K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02488	+0.032%	$927K	$1.0M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02492	+0.192%	$2.8M	$764K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02490	+0.112%	$2.7M	$2.3M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02488	+0.019%	$111K	$155K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02489	+0.074%	$739K	$411K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02485	−0.074%	$41K	$251K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02488	+0.012%	$561K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02489	+0.072%	$68K	$536K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02491	+0.152%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02492	+0.208%	$48K	$266K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02491	+0.152%	$38K	—	3x	as long as short
Injective MON/USDC PERP	+0.0109%	1h	0.02489	+0.072%	$5K	$111	5.5x	as long as short
Aftermath Perps MONUSD	+0.0206%	1h	0.02492	+0.198%	$6K	$100K	10x	as long as short
01 Exchange MONUSD	+0.0224%	1h	0.02494	+0.257%	$7K	$2K	5x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0230% / S −0.0246%	1h	0.02491	+0.144%	$6K	—	50x	as long as short
Deribit MON_USDC-PERPETUAL	+0.0272%	1h	0.02492	+0.212%	$72K	$138K	25x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02483	−0.169%	$1.3M	$346K	75x	as long as short
Hyperliquid MON	+0.0392%	1h	0.02494	+0.285%	$33.7M	$7.8M	5x	as long as short
Perpl MON	+0.0447%	43m	0.02494	+0.273%	$119K	$2.2M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0576%	1h	0.02496	+0.353%	$110K	$54K	50x	as long as short
Kraken Futures PF_MONUSD	+0.0848%	1h	0.02494	+0.256%	$268K	$119K	10x	as long as short