Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.005%

Price spread now: Phoenix against Aster+0.022%7-day average +0.020% · 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−$107as in the Price arb table

costs, in and out, $10k−$1071.070% of the position

Long on Aster Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.107%−$11 on $10k

Price spread, last 4 days (all we have)+1.078%+$108 · spread now +0.022%, 7d avg +0.020%

Together, before fees+0.970%+ Points / potential airdropAster: Stage 5 · farm board+$97 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.020%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MONUSDT	0.02551	0.0100	pay 0.0050% / 4h	2h 11m	$102K	$229K	10x
Short	Phoenix MON	0.02552	0	get 0.0000% / 1h	11m 26s	$13K	$349K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.022%Rate

Funding earned: −$21
Price spread: +0.022% → +0.020%: $0.2
Slippage, 4 orders: −$92.05
Fee Aster: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$127.84
Costs to cover: 1.070%
Break-even: never at this rate

Slippage from Aster: live order book, 55 min ago; Phoenix: live order book, 55 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, 55 min ago	13.54 bp	52.7 bp −$53	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix live order book, 55 min ago	1.16 bp	13.0 bp −$13	44.7 bp −$447	doesn't fit	doesn't fit

MON on 32 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	−0.0388%	1h	0.02546	−0.213%	$6K	$109	5.5x	as long as short
Bybit MONUSDT	−0.0089%	8h	0.02548	−0.134%	$21.0M	$12.8M	50x	as long as short
Phoenix MONshort	0.0000%	1h	0.02552	+0.022%	$13K	$349K	5x
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02552	+0.034%	$69K	$125K	25x	as long as short
01 Exchange MONUSD	+0.0024%	1h	0.02550	−0.064%	$6K	$1K	5x	as long as short
Orderly PERP_MON_USDC	+0.0063%	4h	0.02552	+0.022%	$16K	$51K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02552	+0.022%	$850K	$742K	10x	as long as short
Paradex MON-USD-PERP	+0.0098%	8h	0.02549	−0.105%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02554	+0.114%	$410K	$545K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02552	+0.026%	$34.6M	$7.6M	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster MONUSDTlong	+0.0100%	4h	0.02551	long leg	$102K	$229K	10x
dYdX MON-USD	+0.0100%	1h	0.02551	−0.026%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02552	+0.007%	$141K	$104K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02550	−0.047%	$24.3M	$26.0M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02549	−0.095%	$4.3M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02545	−0.257%	$106K	$4K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02549	−0.095%	$954K	$905K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02552	+0.022%	$2.9M	$743K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02551	−0.017%	$2.7M	$2.0M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02553	+0.054%	$119K	$156K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02544	−0.309%	$757K	$419K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02547	−0.186%	$43K	$249K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02550	−0.056%	$571K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02548	−0.134%	$68K	$497K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02551	−0.017%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02553	+0.069%	$51K	$513K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02551	−0.025%	$39K	—	3x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0429%	1h	0.02550	−0.048%	$9K	—	50x	as long as short
Aftermath Perps MONUSD	+0.0288%	1h	0.02550	−0.044%	$2K	$79K	10x	as long as short
Perpl MON	+0.0447%	43m	0.02551	−0.013%	$107K	$2.3M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0744%	1h	0.02556	+0.171%	$112K	$52K	50x	as long as short
Kraken Futures PF_MONUSD	+0.0838%	1h	0.02554	+0.088%	$278K	$88K	10x	as long as short