Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.019%

Price spread now: Lighter against OKX+0.120%7-day average +0.122% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$710.714% of the position

Long on OKX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.063%+$6 on $10k

Price spread, last 4 days (all we have)−0.024%−$2 · spread now +0.120%, 7d avg +0.122%

Together, before fees+0.039%+ Points / potential airdropLighter: Season 3 · farm board+$4 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MON-USDT-SWAP	0.02502	0.0100	pay 0.0050% / 4h	18m 06s	$4.2M	$6.2M	50x
Short	Lighter MON	0.02505	0.0096	get 0.0012% / 1h	18m 06s	$803K	$785K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against OKX. 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 OKXbpFee LighterbpOrdersPrice spread, now +0.120%Rate

Funding earned: −$0.84
Price spread: +0.120% → +0.122%: −$0.18
Slippage, 4 orders: −$61.44
Fee OKX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$72.46
Costs to cover: 0.714%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; Lighter: live order book, 17 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 OKX live order book, 5 min ago	2.00 bp	14.4 bp −$14	81.8 bp −$818	doesn't fit	doesn't fit
Sell Lighter live order book, 17 min ago	9.99 bp	17.7 bp −$18	114.8 bp −$1,148	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	−0.0032%	1h	0.02503	+0.040%	$5K	$111	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02497	−0.188%	$13K	$349K	5x	as long as short
Perpl MON	0.0000%	43m	0.02505	+0.120%	$122K	$2.2M	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02504	+0.096%	$73K	$138K	25x	as long as short
Lighter MONshort	+0.0096%	1h	0.02505	+0.120%	$803K	$785K	10x
Paradex MON-USD-PERP	+0.0100%	8h	0.02503	+0.054%	$8K	$42	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02502	−0.019%	$99K	$213K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02499	−0.115%	$12K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02504	+0.092%	$139K	$91K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02503	+0.040%	$23.8M	$27.6M	75x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit MONUSDT	+0.0100%	8h	0.02502	+0.004%	$20.8M	$13.9M	50x	as long as short
OKX MON-USDT-SWAPlong	+0.0100%	4h	0.02502	long leg	$4.2M	$6.2M	50x
Gate MON_USDT	+0.0100%	4h	0.02503	+0.040%	$938K	$1.1M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02505	+0.120%	$2.9M	$766K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02503	+0.040%	$2.7M	$2.3M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02505	+0.120%	$109K	$157K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02492	−0.397%	$740K	$410K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02493	−0.340%	$41K	$251K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02497	−0.200%	$556K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02497	−0.200%	$68K	$540K	50x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02508	+0.232%	$393K	$578K	10x	as long as short
Orderly PERP_MON_USDC	+0.0100%	4h	0.02504	+0.080%	$16K	$42K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02504	+0.080%	$5K	$6K	5x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02500	−0.093%	$103K	−$0	10x	as long as short
Extended MON-USD	+0.0104%	1h	0.02506	+0.166%	$47K	$314K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02503	+0.028%	$38K	—	3x	as long as short
Hyperliquid MON	+0.0157%	1h	0.02507	+0.204%	$33.9M	$7.8M	5x	as long as short
01 Exchange MONUSD	+0.0208%	1h	0.02505	+0.128%	$6K	$3K	5x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0231% / S −0.0246%	1h	0.02503	+0.036%	$6K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02506	+0.160%	$1.3M	$334K	75x	as long as short
Aftermath Perps MONUSD	+0.0604%	1h	0.02501	−0.048%	$4K	$102K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0680%	1h	0.02515	+0.512%	$111K	$54K	50x	as long as short
Kraken Futures PF_MONUSD	+0.1203%	1h	0.02506	+0.155%	$269K	$118K	10x	as long as short