Funding you earn now, next payment 01:00 UTC−0.0096%/8h= −10.5% APRnext payment −$0.12 per $10,000 · paid last 24h −0.014%
Price spread now: Phoenix against Lighter+0.079%74s7-day average −0.033% · you sell dearer than you buy
Net, funding: paid 7d − costs−$93as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$620.617% of the position
Funding, last 7 days−0.311%−$31 on $10k
+Price spread, last 4 days (all we have)+1.030%+$103 · spread now +0.079%, 7d avg −0.033%
=Together, before fees+0.719%+ Points / potential airdropLighter: Season 3 · farm board+$72 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Phoenix is 0.112% dearer against Lighter than usual: you sell high and buy low (spread +0.079% now, against its 7-day average of −0.033%): +$11 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.9 days. The two prices were read 74 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MON | 0.02538 | 0.0096 | pay 0.0012% / 1h | 44m 01s | $846K | $740K | 10x |
| Short | Phoenix MON | 0.02540 | 0 | get 0.0000% / 1h | 44m 01s | $13K | $349K | 5x |
Lighter MON
Phoenix MONFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- −$20.16
- Price spread: +0.079% → −0.033%
- $11.16
- Slippage, 4 orders
- −$54.69
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$70.68
- Costs to cover
- 0.617%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 21 min ago; Phoenix: live order book, 22 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, 21 min ago | 11.60 bp | 20.5 bp −$20 | 132.4 bp −$1,324 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 22 min ago | 1.16 bp | 13.0 bp −$13 | 44.7 bp −$447 | 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 | −0.0388% | 1h | 0.02541 | +0.118% | $6K | $106 | 5.5x | as long as short |
| 01 Exchange MONUSD | −0.0032% | 1h | 0.02529 | −0.351% | $6K | $1K | 5x | as long as short |
| Phoenix MONshort | 0.0000% | 1h | 0.02540 | +0.079% | $13K | $349K | 5x | |
| Deribit MON_USDC-PERPETUAL | 0.0000% | 1h | 0.02538 | −0.012% | $68K | $125K | 25x | as long as short |
| Bybit MONUSDT | +0.0003% | 8h | 0.02534 | −0.173% | $20.8M | $12.7M | 50x | as long as short |
| Orderly PERP_MON_USDC | +0.0060% | 4h | 0.02535 | −0.118% | $16K | $55K | 10x | as long as short |
| Paradex MON-USD-PERP | +0.0095% | 8h | 0.02527 | −0.416% | $8K | $42 | 5x | as long as short |
| Lighter MONlong | +0.0096% | 1h | 0.02538 | long leg | $846K | $740K | 10x | |
| Aster MONUSDT | +0.0100% | 4h | 0.02534 | −0.152% | $101K | $229K | 10x | as long as short |
| dYdX MON-USD | +0.0100% | 1h | 0.02529 | −0.367% | $13K | — | 5x | as long as short |
Injective MON/USDC PERP
01 Exchange MONUSD
Deribit MON_USDC-PERPETUAL
Bybit MONUSDT
Orderly PERP_MON_USDC
Paradex MON-USD-PERP
Aster MONUSDT
dYdX MON-USDShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica MON | +0.0100% | 1h | 0.02530 | −0.335% | $140K | $104K | 3x | as long as short |
| Binance MONUSDT | +0.0100% | 4h | 0.02537 | −0.041% | $24.2M | $26.0M | 75x | as long as short |
| OKX MON-USDT-SWAP | +0.0100% | 4h | 0.02537 | −0.039% | $4.2M | $5.9M | 50x | as long as short |
| Bulk MON-USD | +0.0100% | 1h | 0.02535 | −0.114% | $105K | $4K | 10x | as long as short |
| Gate MON_USDT | +0.0100% | 4h | 0.02535 | −0.118% | $949K | $897K | 50x | as long as short |
| KuCoin MONUSDTM | +0.0100% | 4h | 0.02534 | −0.158% | $2.9M | $744K | 75x | as long as short |
| Bitget MONUSDT | +0.0100% | 4h | 0.02539 | +0.039% | $2.7M | $2.0M | 25x | as long as short |
| Backpack MON_USDC_PERP | +0.0100% | 1h | 0.02540 | +0.067% | $120K | $161K | 10x | as long as short |
| Variational Omni MON | +0.0100% | 8h | 0.02530 | −0.331% | $761K | $411K | — | as long as short |
| edgeX MONUSDC | +0.0100% | 4h | 0.02537 | −0.029% | $43K | $249K | 10x | as long as short |
| GRVT MON_USDT_Perp | +0.0100% | 4h | 0.02550 | +0.490% | $573K | $1.5M | 10x | as long as short |
| ApeX Omni MONUSDT | +0.0100% | 1h | 0.02537 | −0.039% | $68K | $491K | 50x | as long as short |
| Nado MON-PERP | +0.0100% | 1h | 0.02537 | −0.044% | $405K | $543K | 10x | as long as short |
| SoDEX MON-USD | +0.0100% | 1h | 0.02537 | −0.039% | $5K | $6K | 5x | as long as short |
| Extended MON-USD | +0.0104% | 1h | 0.02542 | +0.148% | $48K | $520K | 10x | as long as short |
| Aevo MON-PERP | +0.0104% | 1h | 0.02536 | −0.059% | $38K | — | 3x | as long as short |
| GMX MON/USD [ETH-USDC] | L +0.0260% / S −0.0429% | 1h | 0.02535 | −0.130% | $9K | — | 50x | as long as short |
| BloFin MON-USDT | +0.0340% | 4h | 0.02549 | +0.433% | $1.4M | $310K | 75x | as long as short |
| Aftermath Perps MONUSD | +0.0359% | 1h | 0.02542 | +0.151% | $4K | $76K | 10x | as long as short |
| Hyperliquid MON | +0.0400% | 1h | 0.02541 | +0.134% | $34.7M | $7.6M | 5x | as long as short |
| Perpl MON | +0.0447% | 43m | 0.02533 | −0.217% | $109K | $2.2M | 10x | as long as short |
| Coinbase International MON-PERP-INTX | +0.0744% | 1h | 0.02540 | +0.071% | $111K | $52K | 50x | as long as short |
| Kraken Futures PF_MONUSD | +0.0842% | 1h | 0.02540 | +0.086% | $276K | $88K | 10x | as long as short |
Pacifica MON
Binance MONUSDT
OKX MON-USDT-SWAP
Bulk MON-USD
Gate MON_USDT
KuCoin MONUSDTM
Bitget MONUSDT
Backpack MON_USDC_PERP
Variational Omni MON
edgeX MONUSDC
GRVT MON_USDT_Perp
ApeX Omni MONUSDT
Nado MON-PERP
SoDEX MON-USD
Extended MON-USD
Aevo MON-PERP
GMX MON/USD [ETH-USDC]
BloFin MON-USDT
Aftermath Perps MONUSD
Hyperliquid MON
Perpl MON
Coinbase International MON-PERP-INTX
Kraken Futures PF_MONUSD