Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0203%/8h= −22.3% APRpaid last 24h −0.013%

Price spread now: Bybit against Aster−0.170%7-day average −0.122% · 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−$147as in the Price arb table

costs, in and out, $10k−$1421.420% of the position

Long on Aster Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.068%−$7 on $10k

Price spread, last 4 days (all we have)+0.024%+$2 · spread now −0.170%, 7d avg −0.122%

Together, before fees−0.044%+ Points / potential airdropAster: Stage 5 · farm board−$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Bybit is 0.048% cheaper against Aster than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.122%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid -0.068% in total (about -4.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MONUSDT	0.02514	0.0100	pay 0.0050% / 4h	5m 14s	$101K	$222K	10x
Short	Bybit MONUSDT	0.02510	−0.0103	pay 0.0103% / 8h	4h 05m	$20.7M	$13.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.170%Rate

Funding earned: −$42.69
Price spread: −0.170% → −0.122%: −$4.75
Slippage, 4 orders: −$123.01
Fee Aster: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$189.45
Costs to cover: 1.420%
Break-even: never at this rate

Slippage from Aster: live order book, 51 min ago; Bybit: live order book, 3 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, 51 min ago	15.85 bp	67.9 bp −$68	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	1.99 bp	18.5 bp −$18	62.9 bp −$629	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	−0.0176%	1h	0.02507	−0.273%	$5K	$114	5.5x	as long as short
01 Exchange MONUSD	−0.0152%	1h	0.02511	−0.122%	$6K	$1K	5x	as long as short
Backpack MON_USDC_PERP	−0.0109%	1h	0.02514	−0.003%	$114K	$151K	10x	as long as short
Bybit MONUSDTshort	−0.0103%	8h	0.02510	−0.170%	$20.7M	$13.3M	50x
Phoenix MON	0.0000%	1h	0.02517	+0.113%	$12K	$359K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02513	−0.046%	$74K	$136K	25x	as long as short
Orderly PERP_MON_USDC	+0.0072%	4h	0.02512	−0.074%	$16K	$34K	10x	as long as short
Variational Omni MON	+0.0093%	8h	0.02511	−0.131%	$743K	$410K	—	as long as short
Paradex MON-USD-PERP	+0.0095%	8h	0.02511	−0.128%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02514	+0.005%	$846K	$749K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado MON-PERP	+0.0100%	1h	0.02513	−0.026%	$425K	$578K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02514	−0.003%	$33.9M	$7.5M	5x	as long as short
Aster MONUSDTlong	+0.0100%	4h	0.02514	long leg	$101K	$222K	10x
dYdX MON-USD	+0.0100%	1h	0.02514	+0.016%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02513	−0.030%	$139K	$93K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02511	−0.113%	$23.9M	$26.9M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02510	−0.154%	$4.2M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02510	−0.154%	$103K	$5K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02513	−0.034%	$942K	$994K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02515	+0.045%	$2.8M	$757K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02513	−0.034%	$2.7M	$2.2M	25x	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02515	+0.043%	$41K	$250K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02518	+0.164%	$564K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02516	+0.085%	$68K	$513K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02512	−0.074%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02515	+0.033%	$49K	$519K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02511	−0.110%	$38K	—	3x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02513	−0.054%	$9K	—	50x	as long as short
Aftermath Perps MONUSD	+0.0269%	1h	0.02513	−0.017%	$2K	$74K	10x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02513	−0.034%	$1.3M	$339K	75x	as long as short
Coinbase International MON-PERP-INTX	+0.0408%	1h	0.02518	+0.168%	$110K	$57K	50x	as long as short
Perpl MON	+0.0447%	43m	0.02514	+0.021%	$118K	$2.3M	10x	as long as short
Kraken Futures PF_MONUSD	+0.0542%	1h	0.02515	+0.045%	$270K	$114K	10x	as long as short