Funding arb · Price arb /

MON

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.091%

Price spread now: Hyperliquid against ApeX Omni+0.281%7-day average +0.101% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on ApeX Omni Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.198%+$20 on $10k

Price spread, last 4 days (all we have)−0.728%−$73 · spread now +0.281%, 7d avg +0.101%

Together, before fees−0.531%+ Points / potential airdropHyperliquid: Season 2 · farm board−$53 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: Hyperliquid is 0.180% dearer against ApeX Omni than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of +0.101%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni MONUSDT	0.02529	0.0100	pay 0.0013% / 1h	21m 15s	$68K	$502K	50x
Short	Hyperliquid MON	0.02536	0.0100	get 0.0013% / 1h	21m 15s	$34.3M	$7.5M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.281%Rate

Funding earned: $0
Price spread: +0.281% → +0.101%: $17.98
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$1.02
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 41 min ago; Hyperliquid: live order book, 12 min ago. Net counts fees only.

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, 41 min ago	9.85 bp	20.0 bp −$20	124.3 bp −$1,243	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 12 min ago	1.18 bp	doesn't fit	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
Phoenix MON	−0.0316%	1h	0.02531	+0.075%	$12K	$367K	5x	as long as short
Backpack MON_USDC_PERP	−0.0254%	1h	0.02536	+0.265%	$114K	$150K	10x	as long as short
Injective MON/USDC PERP	−0.0253%	1h	0.02535	+0.237%	$6K	$111	5.5x	as long as short
Bybit MONUSDT	−0.0151%	8h	0.02532	+0.127%	$20.8M	$13.1M	50x	as long as short
Deribit MON_USDC-PERPETUAL	−0.0026%	1h	0.02535	+0.221%	$68K	$125K	25x	as long as short
01 Exchange MONUSD	0.0000%	1h	0.02538	+0.364%	$6K	$1K	5x	as long as short
Perpl MON	0.0000%	43m	0.02535	+0.241%	$105K	$2.3M	10x	as long as short
Orderly PERP_MON_USDC	+0.0085%	4h	0.02537	+0.316%	$16K	$51K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02535	+0.237%	$845K	$738K	10x	as long as short
Paradex MON-USD-PERP	+0.0099%	8h	0.02538	+0.352%	$8K	$42	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid MONshort	+0.0100%	1h	0.02536	+0.281%	$34.3M	$7.5M	5x
Aster MONUSDT	+0.0100%	4h	0.02539	+0.377%	$102K	$222K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02539	+0.387%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02538	+0.340%	$140K	$93K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02534	+0.198%	$24.2M	$26.5M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02533	+0.158%	$4.2M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02520	−0.355%	$103K	$5K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02537	+0.316%	$948K	$954K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02538	+0.356%	$2.9M	$743K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02537	+0.316%	$2.7M	$2.1M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02518	−0.416%	$748K	$405K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02523	−0.246%	$41K	$249K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02530	+0.041%	$566K	$1.5M	10x	as long as short
ApeX Omni MONUSDTlong	+0.0100%	1h	0.02529	long leg	$68K	$502K	50x
Nado MON-PERP	+0.0100%	1h	0.02539	+0.401%	$414K	$543K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02533	+0.158%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02536	+0.288%	$50K	$516K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02533	+0.162%	$38K	—	3x	as long as short
Aftermath Perps MONUSD	+0.0226%	1h	0.02532	+0.108%	$2K	$74K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02534	+0.206%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02535	+0.237%	$1.3M	$321K	75x	as long as short
Kraken Futures PF_MONUSD	+0.0490%	1h	0.02538	+0.350%	$272K	$110K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0536%	1h	0.02547	+0.728%	$111K	$56K	50x	as long as short