MON

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0096%/8h= −10.5% APRnext payment −$0.12 per $10,000 · paid last 24h −0.003%

Price spread now: Deribit against Lighter+0.040%7-day average −0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$670.672% of the position

Long on Lighter Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.036%−$4 on $10k

Price spread, last 4 days (all we have)+0.199%+$20 · spread now +0.040%, 7d avg −0.041%

Together, before fees+0.163%+ Points / potential airdropLighter: Season 3 · farm board+$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.082% dearer against Lighter than usual: you sell high and buy low (spread +0.040% now, against its 7-day average of −0.041%): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.8 days. At the pace of the last 7 days (−0.036% in total) that is about 16 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MON	0.02475	0.0096	pay 0.0012% / 1h	34m 02s	$828K	$743K	10x
Short	Deribit MON_USDC-PERPETUAL	0.02476	0	get 0.0000% / 1h	34m 02s	$73K	$136K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Lighter. 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 LighterbpFee DeribitbpOrdersPrice spread, now +0.040%Rate

Funding earned: −$20.16
Price spread: +0.040% → −0.041%: $8.15
Slippage, 4 orders: −$60.16
Fee Lighter: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$79.17
Costs to cover: 0.672%
Break-even: never at this rate

Slippage from Lighter: live order book, 11 min ago; Deribit: live order book, 55 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, 11 min ago	8.01 bp	19.5 bp −$20	148.0 bp −$1,480	doesn't fit	doesn't fit
Sell Deribit live order book, 55 min ago	6.33 bp	9.8 bp −$10	doesn't fit	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	−0.0120%	1h	0.02478	+0.113%	$115K	$156K	10x	as long as short
Bybit MONUSDT	0.0000%	8h	0.02474	−0.040%	$20.3M	$13.6M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02484	+0.352%	$12K	$355K	5x	as long as short
Deribit MON_USDC-PERPETUALshort	0.0000%	1h	0.02476	+0.040%	$73K	$136K	25x
Injective MON/USDC PERP	+0.0039%	1h	0.02496	+0.848%	$5K	$111	5.5x	as long as short
01 Exchange MONUSD	+0.0040%	1h	0.02479	+0.178%	$6K	$1K	5x	as long as short
Orderly PERP_MON_USDC	+0.0083%	4h	0.02478	+0.121%	$16K	$48K	10x	as long as short
Lighter MONlong	+0.0096%	1h	0.02475	long leg	$828K	$743K	10x
Paradex MON-USD-PERP	+0.0100%	8h	0.02479	+0.144%	$7K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02481	+0.242%	$403K	$579K	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	0.02479	+0.166%	$33.2M	$7.6M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02479	+0.180%	$98K	$220K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02480	+0.214%	$12K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02481	+0.251%	$137K	$92K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02476	+0.040%	$23.5M	$27.3M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02476	+0.040%	$4.1M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02490	+0.606%	$102K	$1K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02477	+0.081%	$923K	$1.0M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02481	+0.242%	$2.8M	$763K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02477	+0.081%	$2.7M	$2.2M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02482	+0.287%	$737K	$405K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02483	+0.334%	$41K	$250K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02488	+0.511%	$560K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02487	+0.485%	$68K	$529K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02475	0.000%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02478	+0.130%	$47K	$288K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02475	−0.004%	$37K	—	3x	as long as short
Aftermath Perps MONUSD	+0.0214%	1h	0.02486	+0.427%	$5K	$81K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0230% / S −0.0246%	1h	0.02477	+0.081%	$6K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02491	+0.646%	$1.3M	$345K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02481	+0.226%	$113K	$2.2M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0456%	1h	0.02530	+2.222%	$110K	$54K	50x	as long as short
Kraken Futures PF_MONUSD	+0.1027%	1h	0.02479	+0.142%	$266K	$114K	10x	as long as short