Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0264%/8h= −28.9% APRpaid last 24h −0.013%

Price spread now: Bybit against Bitget−0.155%7-day average −0.087% · you buy dearer than you sell

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$760.759% of the position

Long on Bitget Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.085%−$8 on $10k

Price spread, last 7 days+0.149%+$15 · spread now −0.155%, 7d avg −0.087%

Together, before fees+0.064%+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Bybit is 0.068% cheaper against Bitget than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.087%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.085% in total (about -4.4% 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	Bitget MONUSDT	0.02510	0.0100	pay 0.0050% / 4h	32m 18s	$2.7M	$2.2M	25x
Short	Bybit MONUSDT	0.02506	−0.0164	pay 0.0164% / 8h	4h 32m	$20.6M	$13.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Bitget. 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 BitgetbpFee BybitbpOrdersPrice spread, now −0.155%Rate

Funding earned: −$55.44
Price spread: −0.155% → −0.087%: −$6.79
Slippage, 4 orders: −$52.86
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$138.09
Costs to cover: 0.759%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; Bybit: live order book, 1 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 Bitget live order book, 5 min ago	6.01 bp	18.5 bp −$19	52.0 bp −$520	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	2.00 bp	18.1 bp −$18	67.1 bp −$671	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
01 Exchange MONUSD	−0.0376%	1h	0.02507	−0.127%	$6K	$1K	5x	as long as short
Backpack MON_USDC_PERP	−0.0282%	1h	0.02506	−0.171%	$113K	$152K	10x	as long as short
Injective MON/USDC PERP	−0.0176%	1h	0.02498	−0.478%	$5K	$112	5.5x	as long as short
Bybit MONUSDTshort	−0.0164%	8h	0.02506	−0.155%	$20.6M	$13.3M	50x
Phoenix MON	0.0000%	1h	0.02501	−0.375%	$12K	$359K	5x	as long as short
Perpl MON	0.0000%	43m	0.02509	−0.032%	$107K	$2.3M	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02508	−0.072%	$74K	$136K	25x	as long as short
Orderly PERP_MON_USDC	+0.0071%	4h	0.02507	−0.120%	$16K	$41K	10x	as long as short
Variational Omni MON	+0.0074%	8h	0.02489	−0.854%	$737K	$407K	—	as long as short
Paradex MON-USD-PERP	+0.0090%	8h	0.02506	−0.153%	$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
Lighter MON	+0.0096%	1h	0.02510	0.000%	$845K	$749K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02509	−0.048%	$33.9M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02506	−0.175%	$101K	$222K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02505	−0.198%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02506	−0.143%	$138K	$93K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02506	−0.155%	$23.8M	$26.8M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02506	−0.159%	$4.2M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02495	−0.607%	$102K	$5K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02506	−0.159%	$951K	$984K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02505	−0.199%	$2.8M	$752K	75x	as long as short
Bitget MONUSDTlong	+0.0100%	4h	0.02510	long leg	$2.7M	$2.2M	25x
edgeX MONUSDC	+0.0100%	4h	0.02496	−0.550%	$41K	$250K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02499	−0.425%	$560K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02498	−0.478%	$67K	$508K	50x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02509	−0.027%	$429K	$573K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02507	−0.120%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02509	−0.057%	$48K	$521K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02506	−0.147%	$38K	—	3x	as long as short
Aftermath Perps MONUSD	+0.0249%	1h	0.02501	−0.366%	$2K	$74K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02508	−0.092%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02501	−0.359%	$1.3M	$337K	75x	as long as short
Coinbase International MON-PERP-INTX	+0.0408%	1h	0.02514	+0.139%	$110K	$57K	50x	as long as short
Kraken Futures PF_MONUSD	+0.0543%	1h	0.02511	+0.047%	$269K	$114K	10x	as long as short