Funding you earn now, next payment 00:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h +0.115%
Price spread now: Backpack against Lighter+0.177%7-day average −0.053% · you sell dearer than you buy
Net, funding: paid 7d − costs+$9as in the Funding arb table
Net, price: spread back to 7d avg − costs−$34as in the Price arb table
costs, in and out, $10k−$570.568% of the position
Funding, last 7 days+0.654%+$65 on $10k
+Price spread, last 4 days (all we have)−0.326%−$33 · spread now +0.177%, 7d avg −0.053%
=Together, before fees+0.328%+ Points / potential airdropLighter: Season 3 · farm board+$33 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: Backpack is 0.230% dearer against Lighter than usual: you sell high and buy low, +$23 on $10k if it goes back to its 7-day average of −0.053%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MON | 0.02599 | 0.0096 | pay 0.0012% / 1h | 47m 56s | $864K | $790K | 10x |
| Short | Backpack MON_USDC_PERP | 0.02604 | 0.0100 | get 0.0013% / 1h | 47m 56s | $129K | $141K | 10x |
Lighter MON
Backpack MON_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Lighter. 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
- $0.84
- Price spread: +0.177% → −0.053%
- $23
- Slippage, 4 orders
- −$46.81
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$32.97
- Costs to cover
- 0.568%
- Break-even
- 281.7 days
Slippage from Lighter: live order book, 27 min ago; Backpack: live order book, 30 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, 27 min ago | 11.64 bp | 21.4 bp −$21 | 130.8 bp −$1,308 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 30 min ago | 0.19 bp | 11.7 bp −$12 | doesn't fit | 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 | 0.02575 | −0.923% | $6K | $106 | 5.5x | as long as short |
| Bybit MONUSDT | −0.0059% | 8h | 0.02598 | −0.054% | $21.5M | $12.0M | 50x | as long as short |
| 01 Exchange MONUSD | −0.0032% | 1h | 0.02599 | −0.008% | $6K | $1K | 5x | as long as short |
| Phoenix MON | 0.0000% | 1h | 0.02589 | −0.381% | $13K | $360K | 5x | as long as short |
| Perpl MON | 0.0000% | 43m | 0.02598 | −0.023% | $129K | $1.8M | 10x | as long as short |
| Aftermath Perps MONUSD | +0.0038% | 1h | 0.02585 | −0.522% | $2K | $74K | 10x | as long as short |
| Orderly PERP_MON_USDC | +0.0067% | 4h | 0.02596 | −0.115% | $17K | $64K | 10x | as long as short |
| Variational Omni MON | +0.0088% | 8h | 0.02583 | −0.609% | $781K | $409K | — | as long as short |
| Paradex MON-USD-PERP | +0.0092% | 8h | 0.02596 | −0.103% | $8K | $42 | 5x | as long as short |
| Lighter MONlong | +0.0096% | 1h | 0.02599 | long leg | $864K | $790K | 10x |
Injective MON/USDC PERP
Bybit MONUSDT
01 Exchange MONUSD
Phoenix MON
Perpl MON
Aftermath Perps MONUSD
Orderly PERP_MON_USDC
Variational Omni MON
Paradex MON-USD-PERPShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado MON-PERP | +0.0100% | 1h | 0.02600 | +0.044% | $397K | $546K | 10x | as long as short |
| Hyperliquid MON | +0.0100% | 1h | 0.02604 | +0.204% | $35.2M | $7.5M | 5x | as long as short |
| Aster MONUSDT | +0.0100% | 4h | 0.02600 | +0.052% | $109K | $231K | 10x | as long as short |
| dYdX MON-USD | +0.0100% | 1h | 0.02594 | −0.199% | $13K | — | 5x | as long as short |
| Pacifica MON | +0.0100% | 1h | 0.02594 | −0.181% | $143K | $105K | 3x | as long as short |
| Binance MONUSDT | +0.0100% | 4h | 0.02601 | +0.065% | $24.8M | $25.1M | 75x | as long as short |
| OKX MON-USDT-SWAP | +0.0100% | 4h | 0.02599 | 0.000% | $4.4M | $6.0M | 50x | as long as short |
| Gate MON_USDT | +0.0100% | 4h | 0.02603 | +0.154% | $1.0M | $871K | 50x | as long as short |
| Bitget MONUSDT | +0.0100% | 4h | 0.02602 | +0.115% | $2.8M | $1.8M | 25x | as long as short |
| Backpack MON_USDC_PERPshort | +0.0100% | 1h | 0.02604 | +0.177% | $129K | $141K | 10x | |
| edgeX MONUSDC | +0.0100% | 4h | 0.02585 | −0.538% | $48K | $244K | 10x | as long as short |
| GRVT MON_USDT_Perp | +0.0100% | 4h | 0.02587 | −0.469% | $576K | $1.5M | 10x | as long as short |
| ApeX Omni MONUSDT | +0.0100% | 1h | 0.02584 | −0.577% | $69K | $481K | 50x | as long as short |
| SoDEX MON-USD | +0.0100% | 1h | 0.02598 | −0.038% | $5K | $6K | 5x | as long as short |
| Bulk MON-USD | +0.0100% | 1h | 0.02588 | −0.429% | $109K | $3K | 10x | as long as short |
| Extended MON-USD | +0.0104% | 1h | 0.02604 | +0.203% | $52K | $407K | 10x | as long as short |
| Aevo MON-PERP | +0.0104% | 1h | 0.02598 | −0.054% | $39K | — | 3x | as long as short |
| KuCoin MONUSDTM | +0.0256% | 4h | 0.02606 | +0.269% | $3.1M | $714K | 75x | as long as short |
| GMX MON/USD [ETH-USDC] | L +0.0261% / S −0.0598% | 1h | 0.02597 | −0.085% | $9K | — | 50x | as long as short |
| BloFin MON-USDT | +0.0340% | 4h | 0.02586 | −0.500% | $1.3M | $310K | 75x | as long as short |
| Deribit MON_USDC-PERPETUAL | +0.0404% | 1h | 0.02599 | +0.015% | $70K | $119K | 25x | as long as short |
| Kraken Futures PF_MONUSD | +0.0415% | 1h | 0.02601 | +0.090% | $273K | $78K | 10x | as long as short |
| Coinbase International MON-PERP-INTX | +0.0480% | 1h | 0.02597 | −0.069% | $114K | $50K | 50x | as long as short |
Nado MON-PERP
Hyperliquid MON
Aster MONUSDT
dYdX MON-USD
Pacifica MON
Binance MONUSDT
OKX MON-USDT-SWAP
Gate MON_USDT
Bitget MONUSDT
edgeX MONUSDC
GRVT MON_USDT_Perp
ApeX Omni MONUSDT
SoDEX MON-USD
Bulk MON-USD
Extended MON-USD
Aevo MON-PERP
KuCoin MONUSDTM
GMX MON/USD [ETH-USDC]
BloFin MON-USDT
Deribit MON_USDC-PERPETUAL
Kraken Futures PF_MONUSD
Coinbase International MON-PERP-INTX