MON

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0091%/8h= +9.9% APRnext payment +$0.11 per $10,000 · paid last 24h −0.072%

Price spread now: Lighter against Backpack−0.040%7-day average +0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$136as in the Funding arb table

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$680.683% of the position

Long on Backpack Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.675%−$67 on $10k

Price spread, last 4 days (all we have)+0.229%+$23 · spread now −0.040%, 7d avg +0.047%

Together, before fees−0.446%+ Points / potential airdropLighter: Season 3 · farm board−$45 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.087% cheaper against Backpack than usual: you would sell low and buy high (spread −0.040% now, against its 7-day average of +0.047%). If the spread goes back, that is −$9 on $10k: about 3.2 days of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.675%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack MON_USDC_PERP	0.02497	0.0005	pay 0.0001% / 1h	59m 48s	$110K	$153K	10x
Short	Lighter MON	0.02496	0.0096	get 0.0012% / 1h	59m 48s	$837K	$732K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Backpack. 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 BackpackbpFee LighterbpOrdersPrice spread, now −0.040%Rate

Funding earned: $19.01
Price spread: −0.040% → +0.047%: −$8.72
Slippage, 4 orders: −$58.32
Fee Backpack: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$58.04
Costs to cover: 0.683%
Break-even: 28.4 days

Slippage from Backpack: live order book, 53 min ago; Lighter: live order book, 50 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 Backpack live order book, 53 min ago	0.20 bp	16.3 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 50 min ago	11.89 bp	18.7 bp −$19	127.6 bp −$1,276	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	−0.0203%	1h	0.02515	+0.721%	$5K	$114	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02498	+0.028%	$12K	$358K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02497	+0.016%	$73K	$136K	25x	as long as short
Backpack MON_USDC_PERPlong	+0.0005%	1h	0.02497	long leg	$110K	$153K	10x
Bybit MONUSDT	+0.0009%	8h	0.02492	−0.204%	$20.5M	$13.5M	50x	as long as short
Orderly PERP_MON_USDC	+0.0081%	4h	0.02496	−0.040%	$16K	$48K	10x	as long as short
Lighter MONshort	+0.0096%	1h	0.02496	−0.040%	$837K	$732K	10x
Paradex MON-USD-PERP	+0.0100%	8h	0.02493	−0.147%	$7K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02496	−0.036%	$403K	$586K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02496	−0.060%	$33.6M	$7.5M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster MONUSDT	+0.0100%	4h	0.02496	−0.054%	$100K	$218K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02495	−0.069%	$12K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02495	−0.064%	$138K	$92K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02494	−0.118%	$23.7M	$27.0M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02494	−0.120%	$4.2M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02500	+0.120%	$103K	$1K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02495	−0.080%	$932K	$993K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02500	+0.120%	$2.9M	$762K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02496	−0.040%	$2.7M	$2.1M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02492	−0.218%	$739K	$403K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02496	−0.037%	$41K	$251K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02502	+0.201%	$563K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02495	−0.080%	$68K	$522K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02496	−0.040%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02495	−0.083%	$49K	$282K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02496	−0.040%	$38K	—	3x	as long as short
01 Exchange MONUSD	+0.0192%	1h	0.02497	−0.020%	$6K	$1K	5x	as long as short
Aftermath Perps MONUSD	+0.0259%	1h	0.02499	+0.087%	$2K	$78K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02496	−0.032%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02494	−0.120%	$1.3M	$337K	75x	as long as short
Coinbase International MON-PERP-INTX	+0.0368%	1h	0.02530	+1.322%	$110K	$55K	50x	as long as short
Perpl MON	+0.0447%	43m	0.02496	−0.060%	$114K	$2.2M	10x	as long as short
Kraken Futures PF_MONUSD	+0.0730%	1h	0.02499	+0.084%	$268K	$113K	10x	as long as short