Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0244%/8h= +26.7% APRpaid last 24h +0.016%

Price spread now: BloFin against Lighter+0.040%7-day average −0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$720.724% of the position

Long on Lighter Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.128%+$13 on $10k

Price spread, last 4 days (all we have)+0.162%+$16 · spread now +0.040%, 7d avg −0.055%

Together, before fees+0.290%+ Points / potential airdropLighter: Season 3 · farm board+$29 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BloFin is 0.095% dearer against Lighter than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.055%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.128% in total (about 6.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MON	0.02499	0.0096	pay 0.0012% / 1h	0m 43s	$801K	$787K	10x
Short	BloFin MON-USDT	0.02500	0.0340	get 0.0170% / 4h	1h 00m	$1.3M	$348K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Lighter. 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 LighterbpFee BloFinbpOrdersPrice spread, now +0.040%Rate

Funding earned: $51.24
Price spread: +0.040% → −0.055%: $9.54
Slippage, 4 orders: −$60.38
Fee Lighter: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$11.6
Costs to cover: 0.724%
Break-even: 8.6 days

Slippage from Lighter: live order book, 39 min ago; BloFin: live order book, 2 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, 39 min ago	2.00 bp	11.8 bp −$12	127.3 bp −$1,273	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	2.00 bp	17.1 bp −$17	37.4 bp −$374	124.0 bp −$12.4K	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	0.02506	+0.264%	$13K	$353K	5x	as long as short
Perpl MON	0.0000%	43m	0.02497	−0.064%	$126K	$2.2M	10x	as long as short
Orderly PERP_MON_USDC	+0.0089%	4h	0.02497	−0.080%	$16K	$42K	10x	as long as short
Lighter MONlong	+0.0096%	1h	0.02499	long leg	$801K	$787K	10x
Paradex MON-USD-PERP	+0.0100%	8h	0.02498	−0.055%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02498	−0.056%	$391K	$575K	10x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02499	−0.014%	$99K	$213K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02496	−0.140%	$12K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02498	−0.052%	$138K	$91K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02497	−0.080%	$23.7M	$27.5M	75x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit MONUSDT	+0.0100%	8h	0.02496	−0.116%	$20.7M	$13.8M	50x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02497	−0.080%	$4.2M	$6.2M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02500	+0.040%	$103K	−$0	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02498	−0.040%	$931K	$1.0M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02500	+0.040%	$2.9M	$766K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02501	+0.080%	$2.7M	$2.3M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02498	−0.028%	$109K	$156K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02494	−0.218%	$741K	$411K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02504	+0.200%	$41K	$251K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02506	+0.281%	$565K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02506	+0.280%	$68K	$536K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02495	−0.160%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02502	+0.113%	$47K	$268K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02496	−0.140%	$38K	—	3x	as long as short
Injective MON/USDC PERP	+0.0109%	1h	0.02500	+0.040%	$5K	$113	5.5x	as long as short
Deribit MON_USDC-PERPETUAL	+0.0191%	1h	0.02497	−0.092%	$72K	$138K	25x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0230% / S −0.0246%	1h	0.02494	−0.184%	$6K	—	50x	as long as short
01 Exchange MONUSD	+0.0272%	1h	0.02501	+0.092%	$6K	$3K	5x	as long as short
BloFin MON-USDTshort	+0.0340%	4h	0.02500	+0.040%	$1.3M	$348K	75x
Hyperliquid MON	+0.0425%	1h	0.02499	+0.016%	$33.8M	$7.8M	5x	as long as short
Aftermath Perps MONUSD	+0.0476%	1h	0.02502	+0.103%	$6K	$100K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0576%	1h	0.02511	+0.488%	$110K	$53K	50x	as long as short
Kraken Futures PF_MONUSD	+0.0846%	1h	0.02498	−0.047%	$268K	$119K	10x	as long as short