Funding arb · Price arb /

MON

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.030%

Price spread now: Lighter against Variational Omni+0.285%7-day average +0.184% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.090%+$9 on $10k

Price spread, last 3 days (all we have)−0.194%−$19 · spread now +0.285%, 7d avg +0.184%

Together, before fees−0.103%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board−$10 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: Lighter is 0.101% dearer against Variational Omni than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.184%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MON	0.02573	0.0100	pay 0.0100% / 8h	1h 20m	$780K	$407K	—
Short	Lighter MON	0.02580	0.0096	get 0.0012% / 1h	20m 45s	$855K	$773K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Variational Omni. 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 Variational OmnibpFee LighterbpOrdersPrice spread, now +0.285%Rate

Funding earned: −$0.84
Price spread: +0.285% → +0.184%: $10.09
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: $9.25
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 63 min ago; Lighter: live order book, 59 min ago. Net counts fees only.

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 Variational Omni RFQ quote, 63 min ago	17.36 bp	doesn't fit	152.4 bp −$1,524	doesn't fit	doesn't fit
Sell Lighter live order book, 59 min ago	7.69 bp	20.1 bp −$20	133.8 bp −$1,338	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	−0.0053%	1h	0.02582	+0.362%	$6K	$108	5.5x	as long as short
Bybit MONUSDT	−0.0051%	8h	0.02575	+0.090%	$21.4M	$11.8M	50x	as long as short
01 Exchange MONUSD	−0.0008%	1h	0.02582	+0.362%	$6K	$1K	5x	as long as short
Phoenix MON	0.0000%	1h	0.02577	+0.152%	$13K	$362K	5x	as long as short
Perpl MON	0.0000%	43m	0.02580	+0.277%	$143K	$1.8M	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02579	+0.265%	$70K	$119K	25x	as long as short
Aftermath Perps MONUSD	+0.0021%	1h	0.02578	+0.201%	$2K	$73K	10x	as long as short
Orderly PERP_MON_USDC	+0.0067%	4h	0.02577	+0.168%	$17K	$64K	10x	as long as short
Paradex MON-USD-PERP	+0.0083%	8h	0.02578	+0.214%	$8K	$42	5x	as long as short
Lighter MONshort	+0.0096%	1h	0.02580	+0.285%	$855K	$773K	10x

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado MON-PERP	+0.0100%	1h	0.02584	+0.437%	$389K	$539K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02583	+0.386%	$34.9M	$7.4M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02578	+0.222%	$108K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02579	+0.255%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02580	+0.281%	$142K	$107K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02579	+0.246%	$24.5M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02576	+0.129%	$4.4M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02570	−0.104%	$108K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02578	+0.207%	$1.0M	$872K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02579	+0.246%	$2.7M	$1.8M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02577	+0.187%	$128K	$143K	10x	as long as short
Variational Omni MONlong	+0.0100%	8h	0.02573	long leg	$780K	$407K	—
edgeX MONUSDC	+0.0100%	4h	0.02575	+0.079%	$47K	$242K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02578	+0.195%	$578K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02578	+0.207%	$69K	$480K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02578	+0.207%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02581	+0.332%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02578	+0.215%	$39K	—	3x	as long as short
Kraken Futures PF_MONUSD	+0.0173%	1h	0.02582	+0.344%	$271K	$78K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0598%	1h	0.02579	+0.250%	$9K	—	50x	as long as short
KuCoin MONUSDTM	+0.0292%	4h	0.02583	+0.401%	$3.2M	$698K	75x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02581	+0.323%	$1.4M	$293K	75x	as long as short
Coinbase International MON-PERP-INTX	+0.0536%	1h	0.02607	+1.322%	$114K	$49K	50x	as long as short