Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bulk against ApeX Omni−0.080%55s7-day average −0.029% · 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—prices read too far apart to compare

costs, in and out, $10k−$910.905% of the position

Long on ApeX Omni Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.140%−$14 · spread now −0.080%, 7d avg −0.029%

Together, before fees−0.140%−$14 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: Bulk is 0.052% cheaper against ApeX Omni than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.029%. The two prices were read 55 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	ApeX Omni MONUSDT	0.02492	0.0100	pay 0.0013% / 1h	42m 00s	$68K	$527K	50x
Short	Bulk MON-USD	0.02490	0.0100	get 0.0013% / 1h	42m 00s	$102K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against ApeX Omni. 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 ApeX OmnibpFee BulkbpOrdersPrice spread, now −0.080%Rate

Funding earned: $0
Price spread: −0.080% → −0.029%: −$5.17
Slippage, 4 orders: −$73.52
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$95.7
Costs to cover: 0.905%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 6 min ago; Bulk: live order book, 7 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 ApeX Omni live order book, 6 min ago	10.02 bp	21.5 bp −$21	116.7 bp −$1,167	doesn't fit	doesn't fit
Sell Bulk live order book, 7 min ago	20.04 bp	23.5 bp −$24	29.0 bp −$290	92.2 bp −$9,218	551.1 bp −$275.6K

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	−0.0105%	1h	0.02492	−0.016%	$110K	$153K	10x	as long as short
Phoenix MON	0.0000%	1h	0.02494	+0.076%	$12K	$355K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02491	−0.020%	$73K	$136K	25x	as long as short
Bybit MONUSDT	+0.0007%	8h	0.02488	−0.173%	$20.4M	$13.5M	50x	as long as short
Injective MON/USDC PERP	+0.0039%	1h	0.02496	+0.161%	$5K	$111	5.5x	as long as short
01 Exchange MONUSD	+0.0080%	1h	0.02489	−0.108%	$6K	$1K	5x	as long as short
Orderly PERP_MON_USDC	+0.0083%	4h	0.02490	−0.080%	$16K	$48K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02492	0.000%	$836K	$732K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02490	−0.097%	$7K	$42	5x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02491	−0.028%	$33.4M	$7.6M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster MONUSDT	+0.0100%	4h	0.02494	+0.087%	$100K	$218K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02493	+0.050%	$12K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02492	0.000%	$138K	$92K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02490	−0.075%	$23.7M	$27.0M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02491	−0.040%	$4.2M	$6.0M	50x	as long as short
Bulk MON-USDshort	+0.0100%	1h	0.02490	−0.080%	$102K	$1K	10x
Gate MON_USDT	+0.0100%	4h	0.02491	−0.040%	$919K	$1.0M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02499	+0.281%	$2.9M	$762K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02492	0.000%	$2.7M	$2.2M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02490	−0.098%	$740K	$405K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02495	+0.140%	$41K	$251K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02495	+0.120%	$562K	$1.5M	10x	as long as short
ApeX Omni MONUSDTlong	+0.0100%	1h	0.02492	long leg	$68K	$527K	50x
Nado MON-PERP	+0.0100%	1h	0.02492	−0.014%	$404K	$584K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02490	−0.080%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02491	−0.048%	$47K	$286K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02490	−0.080%	$38K	—	3x	as long as short
Aftermath Perps MONUSD	+0.0241%	1h	0.02495	+0.104%	$2K	$78K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0259% / S −0.0429%	1h	0.02490	−0.064%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02487	−0.201%	$1.3M	$335K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02492	−0.016%	$114K	$2.2M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0456%	1h	0.02530	+1.525%	$110K	$55K	50x	as long as short
Kraken Futures PF_MONUSD	+0.1021%	1h	0.02493	+0.057%	$268K	$112K	10x	as long as short