Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.019%

Price spread now: edgeX against Lighter+0.287%49s7-day average −0.106% · 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—prices read too far apart to compare

costs, in and out, $10k−$730.733% of the position

Long on Lighter Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.064%−$6 on $10k

Price spread, last 4 days (all we have)+0.559%+$56 · spread now +0.287%, 7d avg −0.106%

Together, before fees+0.494%+ Points / potential airdropLighter: Season 3 · edgeX: Active · farm board+$49 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: edgeX is 0.393% dearer against Lighter than usual: you sell high and buy low, +$39 on $10k if it goes back to its 7-day average of −0.106%. The two prices were read 49 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	Lighter MON	0.02530	0.0096	pay 0.0012% / 1h	44m 32s	$843K	$740K	10x
Short	edgeX MONUSDC	0.02537	0.0100	get 0.0050% / 4h	2h 44m	$43K	$249K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.287%Rate

Funding earned: $0.84
Price spread: +0.287% → −0.106%: $39.26
Slippage, 4 orders: −$64.3
Fee Lighter: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$33.2
Costs to cover: 0.733%
Break-even: 283.7 days

Slippage from Lighter: live order book, 21 min ago; edgeX: live order book, 23 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, 21 min ago	11.60 bp	20.5 bp −$20	132.4 bp −$1,324	doesn't fit	doesn't fit
Sell edgeX live order book, 23 min ago	7.72 bp	20.0 bp −$20	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
Injective MON/USDC PERP	−0.0388%	1h	0.02541	+0.435%	$6K	$106	5.5x	as long as short
01 Exchange MONUSD	−0.0032%	1h	0.02529	−0.036%	$6K	$1K	5x	as long as short
Phoenix MON	0.0000%	1h	0.02540	+0.395%	$13K	$349K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02527	−0.099%	$68K	$125K	25x	as long as short
Bybit MONUSDT	+0.0003%	8h	0.02531	+0.040%	$20.8M	$12.7M	50x	as long as short
Orderly PERP_MON_USDC	+0.0060%	4h	0.02526	−0.158%	$16K	$56K	10x	as long as short
Paradex MON-USD-PERP	+0.0095%	8h	0.02527	−0.101%	$8K	$42	5x	as long as short
Lighter MONlong	+0.0096%	1h	0.02530	long leg	$843K	$740K	10x
Aster MONUSDT	+0.0100%	4h	0.02528	−0.065%	$101K	$229K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02529	−0.052%	$13K	—	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica MON	+0.0100%	1h	0.02530	−0.020%	$140K	$104K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02530	+0.016%	$24.2M	$25.9M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02533	+0.119%	$4.2M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02535	+0.201%	$105K	$4K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02527	−0.119%	$946K	$897K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02530	0.000%	$2.9M	$744K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02533	+0.119%	$2.7M	$2.0M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02529	−0.024%	$117K	$160K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02530	−0.015%	$761K	$411K	—	as long as short
edgeX MONUSDCshort	+0.0100%	4h	0.02537	+0.287%	$43K	$249K	10x
GRVT MON_USDT_Perp	+0.0100%	4h	0.02550	+0.808%	$573K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02537	+0.277%	$68K	$491K	50x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02537	+0.272%	$405K	$543K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02526	−0.158%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02533	+0.104%	$48K	$520K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02525	−0.186%	$38K	—	3x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02529	−0.047%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02549	+0.751%	$1.4M	$310K	75x	as long as short
Aftermath Perps MONUSD	+0.0343%	1h	0.02545	+0.580%	$4K	$76K	10x	as long as short
Hyperliquid MON	+0.0408%	1h	0.02533	+0.134%	$34.6M	$7.6M	5x	as long as short
Perpl MON	+0.0447%	43m	0.02536	+0.221%	$114K	$2.1M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0744%	1h	0.02524	−0.233%	$110K	$51K	50x	as long as short
Kraken Futures PF_MONUSD	+0.0846%	1h	0.02529	−0.037%	$275K	$88K	10x	as long as short