Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0004%/8hnext payment −$0.01 per $10,000 · paid last 24h +0.030%

Price spread now: Lighter against Pacifica+0.040%7-day average +0.058% · you sell dearer than you buy

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$850.854% of the position

Long on Pacifica Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.050%+$5 on $10k

Price spread, last 3 days (all we have)−0.020%−$2 · spread now +0.040%, 7d avg +0.058%

Together, before fees+0.031%+ Points / potential airdropPacifica: Active · Lighter: Season 3 · farm board+$3 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica MON	0.02528	0.0100	pay 0.0013% / 1h	6m 54s	$144K	$104K	3x
Short	Lighter MON	0.02529	0.0096	get 0.0012% / 1h	6m 54s	$826K	$748K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Pacifica. 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 PacificabpFee LighterbpOrdersPrice spread, now +0.040%Rate

Funding earned: −$0.84
Price spread: +0.040% → +0.058%: −$1.8
Slippage, 4 orders: −$77.38
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$88.02
Costs to cover: 0.854%
Break-even: never at this rate

Slippage from Pacifica: live order book, 25 min ago; Lighter: 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 Pacifica live order book, 25 min ago	3.95 bp	16.3 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 22 min ago	5.93 bp	15.8 bp −$16	128.7 bp −$1,287	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	−0.0242%	1h	0.02531	+0.119%	$5K	$111	5.5x	as long as short
01 Exchange MONUSD	−0.0176%	1h	0.02528	−0.004%	$6K	$1K	5x	as long as short
Backpack MON_USDC_PERP	−0.0159%	1h	0.02528	−0.004%	$133K	$135K	10x	as long as short
Bybit MONUSDT	−0.0073%	8h	0.02522	−0.222%	$20.9M	$11.3M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02527	−0.020%	$13K	$374K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02529	+0.028%	$47K	$75K	25x	as long as short
BloFin MON-USDT	+0.0043%	4h	0.02529	+0.040%	$1.3M	$219K	75x	as long as short
Lighter MONshort	+0.0096%	1h	0.02529	+0.040%	$826K	$748K	10x
Paradex MON-USD-PERP	+0.0100%	8h	0.02528	+0.008%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02530	+0.060%	$315K	$510K	10x	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	0.02527	−0.028%	$34.1M	$7.4M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02528	−0.015%	$105K	$240K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02530	+0.069%	$13K	—	5x	as long as short
Pacifica MONlong	+0.0100%	1h	0.02528	long leg	$144K	$104K	3x
Binance MONUSDT	+0.0100%	4h	0.02526	−0.073%	$23.9M	$23.7M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02523	−0.198%	$4.3M	$5.7M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02530	+0.079%	$106K	$8K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02526	−0.079%	$956K	$939K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02526	−0.079%	$2.6M	$1.7M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02526	−0.060%	$753K	$366K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02531	+0.122%	$47K	$241K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02532	+0.153%	$564K	$1.4M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02533	+0.198%	$68K	$488K	50x	as long as short
Orderly PERP_MON_USDC	+0.0100%	4h	0.02526	−0.079%	$16K	$64K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02528	0.000%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02528	+0.006%	$45K	$400K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02527	−0.020%	$38K	—	3x	as long as short
KuCoin MONUSDTM	+0.0206%	4h	0.02532	+0.158%	$3.0M	$775K	75x	as long as short
Perpl MON	+0.0223%	43m	0.02529	+0.055%	$208K	$1.7M	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0230% / S −0.0343%	1h	0.02529	+0.024%	$6K	—	50x	as long as short
Aftermath Perps MONUSD	+0.0417%	1h	0.02532	+0.168%	$2K	$71K	10x	as long as short
Kraken Futures PF_MONUSD	+0.0421%	1h	0.02530	+0.092%	$252K	$57K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0624%	1h	0.02543	+0.609%	$112K	$49K	50x	as long as short