Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.019%

Price spread now: OKX against Lighter−0.276%7-day average −0.124% · you buy dearer than you sell

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$92as in the Price arb table

costs, in and out, $10k−$770.773% of the position

Long on Lighter Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.093%−$9 on $10k

Price spread, last 4 days (all we have)+0.111%+$11 · spread now −0.276%, 7d avg −0.124%

Together, before fees+0.018%+ Points / potential airdropLighter: Season 3 · farm board+$2 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: OKX is 0.152% cheaper against Lighter than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of −0.124%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MON	0.02539	0.0096	pay 0.0012% / 1h	29m 39s	$846K	$738K	10x
Short	OKX MON-USDT-SWAP	0.02532	0.0100	get 0.0050% / 4h	1h 29m	$4.2M	$5.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.276%Rate

Funding earned: $0.84
Price spread: −0.276% → −0.124%: −$15.15
Slippage, 4 orders: −$67.3
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$91.61
Costs to cover: 0.773%
Break-even: 770.4 days

Slippage from Lighter: live order book, 30 min ago; OKX: live order book, 3 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, 30 min ago	9.86 bp	18.6 bp −$19	110.9 bp −$1,109	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	3.95 bp	19.8 bp −$20	90.3 bp −$903	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	−0.0316%	1h	0.02535	−0.154%	$13K	$367K	5x	as long as short
Injective MON/USDC PERP	−0.0253%	1h	0.02535	−0.158%	$6K	$111	5.5x	as long as short
Backpack MON_USDC_PERP	−0.0235%	1h	0.02539	−0.004%	$114K	$151K	10x	as long as short
Bybit MONUSDT	−0.0138%	8h	0.02532	−0.264%	$20.8M	$12.9M	50x	as long as short
01 Exchange MONUSD	0.0000%	1h	0.02536	−0.102%	$6K	$1K	5x	as long as short
Perpl MON	0.0000%	43m	0.02541	+0.091%	$105K	$2.3M	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02539	−0.008%	$68K	$125K	25x	as long as short
Orderly PERP_MON_USDC	+0.0085%	4h	0.02538	−0.039%	$16K	$51K	10x	as long as short
Lighter MONlong	+0.0096%	1h	0.02539	long leg	$846K	$738K	10x
Paradex MON-USD-PERP	+0.0099%	8h	0.02535	−0.159%	$8K	$42	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid MON	+0.0100%	1h	0.02539	−0.012%	$34.4M	$7.4M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02538	−0.055%	$101K	$229K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02538	−0.020%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02536	−0.106%	$140K	$93K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02535	−0.152%	$24.2M	$26.1M	75x	as long as short
OKX MON-USDT-SWAPshort	+0.0100%	4h	0.02532	−0.276%	$4.2M	$5.8M	50x
Gate MON_USDT	+0.0100%	4h	0.02537	−0.079%	$953K	$928K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02536	−0.118%	$2.9M	$742K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02537	−0.079%	$2.7M	$2.0M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02535	−0.139%	$753K	$405K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02534	−0.215%	$42K	$250K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02540	+0.040%	$568K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02539	0.000%	$68K	$502K	50x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02542	+0.112%	$409K	$541K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02538	−0.039%	$5K	$6K	5x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02530	−0.354%	$105K	$4K	10x	as long as short
Extended MON-USD	+0.0104%	1h	0.02538	−0.030%	$50K	$516K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02538	−0.032%	$38K	—	3x	as long as short
Aftermath Perps MONUSD	+0.0244%	1h	0.02535	−0.175%	$2K	$74K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02539	+0.016%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02539	0.000%	$1.3M	$322K	75x	as long as short
Kraken Futures PF_MONUSD	+0.0490%	1h	0.02540	+0.028%	$270K	$100K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0536%	1h	0.02542	+0.098%	$111K	$52K	50x	as long as short