Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.040%

Price spread now: Lighter against KuCoin+0.040%7-day average −0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$135as in the Funding arb table

Net, price: spread back to 7d avg − costs−$131as in the Price arb table

costs, in and out, $10k−$1361.364% of the position

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.012%+$1 on $10k

Price spread, last 4 days (all we have)+0.070%+$7 · spread now +0.040%, 7d avg −0.010%

Together, before fees+0.082%+ Points / potential airdropLighter: Season 3 · farm board+$8 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 0.050% dearer against KuCoin than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MONUSDTM	0.02513	0.0100	pay 0.0050% / 4h	1h 46m	$2.8M	$753K	75x
Short	Lighter MON	0.02514	0.0096	get 0.0012% / 1h	46m 59s	$824K	$737K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. 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 KuCoinbpFee LighterbpOrdersPrice spread, now +0.040%Rate

Funding earned: −$0.84
Price spread: +0.040% → −0.010%: $5.01
Slippage, 4 orders: −$124.4
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$132.24
Costs to cover: 1.364%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; Lighter: live order book, 61 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 KuCoin live order book, 3 min ago	11.93 bp	31.9 bp −$32	858.2 bp −$8,582	doesn't fit	doesn't fit
Sell Lighter live order book, 61 min ago	15.69 bp	27.9 bp −$28	165.6 bp −$1,656	doesn't fit	doesn't fit

MON on 33 exchanges

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
Deribit MON_USDC-PERPETUAL	−0.0426%	1h	0.02511	−0.060%	$76K	$115K	25x	as long as short
Backpack MON_USDC_PERP	−0.0293%	1h	0.02515	+0.080%	$113K	$151K	10x	as long as short
01 Exchange MONUSD	−0.0256%	1h	0.02508	−0.199%	$6K	$2K	5x	as long as short
Injective MON/USDC PERP	−0.0246%	1h	0.02541	+1.114%	$6K	$101	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02513	+0.008%	$13K	$281K	5x	as long as short
Bybit MONUSDT	+0.0032%	8h	0.02511	−0.072%	$21.0M	$13.5M	50x	as long as short
Paradex MON-USD-PERP	+0.0089%	8h	0.02512	−0.039%	$8K	$42	5x	as long as short
Lighter MONshort	+0.0096%	1h	0.02514	+0.040%	$824K	$737K	10x
Nado MON-PERP	+0.0100%	1h	0.02513	+0.013%	$391K	$571K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02516	+0.115%	$33.7M	$6.5M	5x	as long as short

Show all 33 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster MONUSDT	+0.0100%	4h	0.02514	+0.040%	$99K	$205K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02513	−0.010%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02514	+0.052%	$139K	$85K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02514	+0.040%	$24.2M	$26.7M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02512	−0.040%	$4.2M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02520	+0.290%	$103K	−$0	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02514	+0.040%	$1.1M	$1.2M	50x	as long as short
KuCoin MONUSDTMlong	+0.0100%	4h	0.02513	long leg	$2.8M	$753K	75x
Bitget MONUSDT	+0.0100%	4h	0.02516	+0.119%	$2.7M	$2.3M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02511	−0.085%	$750K	$378K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02513	0.000%	$41K	$250K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02514	+0.025%	$568K	$1.4M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02516	+0.119%	$68K	$548K	50x	as long as short
Orderly PERP_MON_USDC	+0.0100%	4h	0.02511	−0.080%	$16K	$36K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02510	−0.119%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02515	+0.087%	$59K	$323K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02511	−0.084%	$38K	—	3x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0230% / S −0.0246%	1h	0.02513	+0.016%	$6K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02510	−0.119%	$1.4M	$387K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02512	−0.024%	$116K	$2.1M	10x	as long as short
Aftermath Perps MONUSD	+0.0697%	1h	0.02518	+0.197%	$5K	$96K	10x	as long as short
Kraken Futures PF_MONUSD	+0.0699%	1h	0.02515	+0.086%	$271K	$124K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0808%	1h	0.02516	+0.119%	$106K	$55K	50x	as long as short