Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.119%

Price spread now: Backpack against Aster+0.246%7-day average −0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$1031.033% of the position

Long on Aster Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.553%+$55 on $10k

Price spread, last 4 days (all we have)−0.425%−$43 · spread now +0.246%, 7d avg −0.007%

Together, before fees+0.128%+ Points / potential airdropAster: Stage 5 · farm board+$13 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: Backpack is 0.253% dearer against Aster than usual: you sell high and buy low, +$25 on $10k if it goes back to its 7-day average of −0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MONUSDT	0.02550	0.0100	pay 0.0050% / 4h	2h 53m	$106K	$227K	10x
Short	Backpack MON_USDC_PERP	0.02557	0.0100	get 0.0013% / 1h	53m 08s	$119K	$161K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Aster. 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 AsterbpFee BackpackbpOrdersPrice spread, now +0.246%Rate

Funding earned: $0
Price spread: +0.246% → −0.007%: $25.3
Slippage, 4 orders: −$85.28
Fee Aster: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$77.98
Costs to cover: 1.033%
Break-even: never at this rate

Slippage from Aster: live order book, 13 min ago; Backpack: live order book, 15 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 Aster live order book, 13 min ago	13.54 bp	52.7 bp −$53	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 15 min ago	1.35 bp	11.1 bp −$11	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
ApeX Omni MONUSDT	−0.0850%	1h	0.02545	−0.205%	$68K	$489K	50x	as long as short
Injective MON/USDC PERP	−0.0388%	1h	0.02541	−0.362%	$6K	$106	5.5x	as long as short
01 Exchange MONUSD	−0.0072%	1h	0.02551	+0.038%	$6K	$1K	5x	as long as short
Phoenix MON	0.0000%	1h	0.02538	−0.479%	$13K	$349K	5x	as long as short
Deribit MON_USDC-PERPETUAL	+0.0024%	1h	0.02554	+0.156%	$69K	$119K	25x	as long as short
Bybit MONUSDT	+0.0053%	8h	0.02553	+0.109%	$21.2M	$12.3M	50x	as long as short
Orderly PERP_MON_USDC	+0.0060%	4h	0.02551	+0.030%	$16K	$59K	10x	as long as short
Paradex MON-USD-PERP	+0.0094%	8h	0.02547	−0.115%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02555	+0.187%	$851K	$740K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02554	+0.163%	$406K	$538K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster MONUSDTlong	+0.0100%	4h	0.02550	long leg	$106K	$227K	10x
dYdX MON-USD	+0.0100%	1h	0.02548	−0.102%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02548	−0.091%	$141K	$103K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02553	+0.117%	$24.4M	$25.7M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02553	+0.109%	$4.3M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02545	−0.188%	$106K	$4K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02550	−0.009%	$958K	$884K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02551	+0.030%	$2.9M	$740K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02554	+0.148%	$2.7M	$2.0M	25x	as long as short
Backpack MON_USDC_PERPshort	+0.0100%	1h	0.02557	+0.246%	$119K	$161K	10x
Variational Omni MON	+0.0100%	8h	0.02538	−0.475%	$764K	$411K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02548	−0.097%	$44K	$247K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02544	−0.237%	$571K	$1.5M	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02552	+0.070%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02558	+0.308%	$49K	$520K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02552	+0.070%	$39K	—	3x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0429%	1h	0.02554	+0.152%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02552	+0.070%	$1.4M	$310K	75x	as long as short
Aftermath Perps MONUSD	+0.0340%	1h	0.02555	+0.176%	$4K	$74K	10x	as long as short
Hyperliquid MON	+0.0369%	1h	0.02558	+0.321%	$34.9M	$7.5M	5x	as long as short
Perpl MON	+0.0447%	43m	0.02552	+0.085%	$115K	$2.1M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0744%	1h	0.02552	+0.085%	$111K	$52K	50x	as long as short
Kraken Futures PF_MONUSD	+0.0837%	1h	0.02556	+0.212%	$278K	$88K	10x	as long as short