Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.019%

Price spread now: Lighter against edgeX−0.169%109s7-day average +0.101% · you buy dearer than you sell

Net, funding: paid 7d − costs−$83as 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−$880.882% of the position

Long on edgeX 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 4 days (all we have)−0.198%−$20 · spread now −0.169%, 7d avg +0.101%

Together, before fees−0.148%+ Points / potential airdropedgeX: Active · Lighter: Season 3 · farm board−$15 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 0.270% cheaper against edgeX than usual: you would sell low and buy high, −$27 on $10k if it goes back to its 7-day average of +0.101%. The two prices were read 109 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	edgeX MONUSDC	0.02555	0.0100	pay 0.0050% / 4h	2h 55m	$42K	$250K	10x
Short	Lighter MON	0.02551	0.0096	get 0.0012% / 1h	55m 42s	$832K	$759K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against edgeX. 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 edgeXbpFee LighterbpOrdersPrice spread, now −0.169%Rate

Funding earned: −$0.84
Price spread: −0.169% → +0.101%: −$27.02
Slippage, 4 orders: −$79.21
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: −$116.06
Costs to cover: 0.882%
Break-even: never at this rate

Slippage from edgeX: live order book, 37 min ago; Lighter: live order book, 34 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 edgeX live order book, 37 min ago	10.01 bp	25.1 bp −$25	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 34 min ago	10.00 bp	22.8 bp −$23	135.9 bp −$1,359	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
Backpack MON_USDC_PERP	−0.0051%	1h	0.02553	−0.106%	$113K	$152K	10x	as long as short
Phoenix MON	0.0000%	1h	0.02557	+0.046%	$14K	$307K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02553	−0.098%	$73K	$133K	25x	as long as short
Injective MON/USDC PERP	+0.0033%	1h	0.02505	−1.969%	$5K	$104	5.5x	as long as short
Lighter MONshort	+0.0096%	1h	0.02551	−0.169%	$832K	$759K	10x
Paradex MON-USD-PERP	+0.0100%	8h	0.02547	−0.325%	$8K	$42	5x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02551	−0.169%	$34.3M	$6.6M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02550	−0.207%	$101K	$202K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02549	−0.257%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02549	−0.235%	$141K	$89K	3x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance MONUSDT	+0.0100%	4h	0.02545	−0.399%	$24.5M	$26.8M	75x	as long as short
Bybit MONUSDT	+0.0100%	8h	0.02544	−0.423%	$21.3M	$13.5M	50x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02547	−0.325%	$4.3M	$6.1M	50x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02554	−0.051%	$1.1M	$1.1M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02552	−0.130%	$2.9M	$763K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02547	−0.325%	$2.8M	$2.3M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02549	−0.267%	$757K	$375K	—	as long as short
edgeX MONUSDClong	+0.0100%	4h	0.02555	long leg	$42K	$250K	10x
GRVT MON_USDT_Perp	+0.0100%	4h	0.02557	+0.081%	$580K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02557	+0.066%	$69K	$545K	50x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02553	−0.083%	$392K	$578K	10x	as long as short
Orderly PERP_MON_USDC	+0.0100%	4h	0.02554	−0.051%	$16K	$36K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02552	−0.130%	$5K	$6K	5x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02555	−0.012%	$105K	−$0	10x	as long as short
Extended MON-USD	+0.0104%	1h	0.02553	−0.073%	$61K	$329K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02550	−0.188%	$39K	—	3x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0231% / S −0.0246%	1h	0.02553	−0.079%	$7K	—	50x	as long as short
01 Exchange MONUSD	+0.0232%	1h	0.02553	−0.071%	$6K	$3K	5x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02562	+0.262%	$1.4M	$401K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02554	−0.051%	$118K	$2.1M	10x	as long as short
Aftermath Perps MONUSD	+0.0647%	1h	0.02557	+0.058%	$4K	$97K	10x	as long as short
Kraken Futures PF_MONUSD	+0.0669%	1h	0.02554	−0.037%	$274K	$117K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0800%	1h	0.02575	+0.774%	$114K	$53K	50x	as long as short