Funding arb · Price arb /

MON

all MON markets

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 Aster−0.002%7-day average +0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$125as in the Price arb table

costs, in and out, $10k−$1201.203% of the position

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.055%+$5 on $10k

Price spread, last 4 days (all we have)+0.037%+$4 · spread now −0.002%, 7d avg +0.048%

Together, before fees+0.092%+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm board+$9 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 0.050% cheaper against Aster than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MONUSDT	0.02572	0.0100	pay 0.0050% / 4h	1h 30m	$107K	$231K	10x
Short	Lighter MON	0.02572	0.0096	get 0.0012% / 1h	30m 16s	$852K	$773K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aster. 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 AsterbpFee LighterbpOrdersPrice spread, now −0.002%Rate

Funding earned: −$0.84
Price spread: −0.002% → +0.048%: −$5.04
Slippage, 4 orders: −$112.26
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$126.14
Costs to cover: 1.203%
Break-even: never at this rate

Slippage from Aster: live order book, 51 min ago; Lighter: live order book, 50 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 Aster live order book, 51 min ago	17.30 bp	50.5 bp −$51	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 50 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
Bybit MONUSDT	−0.0053%	8h	0.02566	−0.247%	$21.4M	$11.7M	50x	as long as short
Injective MON/USDC PERP	−0.0053%	1h	0.02582	+0.387%	$6K	$108	5.5x	as long as short
01 Exchange MONUSD	−0.0048%	1h	0.02570	−0.072%	$6K	$1K	5x	as long as short
Phoenix MON	0.0000%	1h	0.02580	+0.305%	$13K	$362K	5x	as long as short
Perpl MON	0.0000%	43m	0.02570	−0.084%	$143K	$1.8M	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02571	−0.053%	$69K	$119K	25x	as long as short
Aftermath Perps MONUSD	+0.0020%	1h	0.02580	+0.299%	$2K	$73K	10x	as long as short
Orderly PERP_MON_USDC	+0.0067%	4h	0.02568	−0.158%	$17K	$64K	10x	as long as short
Paradex MON-USD-PERP	+0.0080%	8h	0.02568	−0.148%	$8K	$42	5x	as long as short
Lighter MONshort	+0.0096%	1h	0.02572	−0.002%	$852K	$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	0.02574	+0.088%	$388K	$538K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02574	+0.068%	$34.8M	$7.4M	5x	as long as short
Aster MONUSDTlong	+0.0100%	4h	0.02572	long leg	$107K	$231K	10x
dYdX MON-USD	+0.0100%	1h	0.02571	−0.026%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02569	−0.119%	$142K	$107K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02569	−0.113%	$24.4M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02565	−0.274%	$4.3M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02570	−0.080%	$108K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02571	−0.041%	$1.0M	$865K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02571	−0.041%	$2.7M	$1.8M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02570	−0.092%	$779K	$407K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02580	+0.295%	$47K	$244K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02584	+0.465%	$580K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02578	+0.231%	$69K	$481K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02570	−0.080%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02574	+0.082%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02569	−0.119%	$39K	—	3x	as long as short
Kraken Futures PF_MONUSD	+0.0174%	1h	0.02572	−0.012%	$270K	$77K	10x	as long as short
Backpack MON_USDC_PERP	+0.0184%	1h	0.02570	−0.060%	$137K	$134K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0598%	1h	0.02571	−0.053%	$8K	—	50x	as long as short
KuCoin MONUSDTM	+0.0314%	4h	0.02576	+0.153%	$3.2M	$724K	75x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02572	−0.002%	$1.4M	$292K	75x	as long as short
Coinbase International MON-PERP-INTX	+0.0536%	1h	0.02607	+1.347%	$114K	$49K	50x	as long as short