Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0032%/8h= −3.6% APRpaid last 24h −0.013%

Price spread now: Bulk against BloFin+1.359%7-day average −0.046% · 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+$45as in the Price arb table

costs, in and out, $10k−$960.956% of the position

Long on BloFin Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.132%−$13 on $10k

Price spread, last 3 days (all we have)−2.132%−$213 · spread now +1.359%, 7d avg −0.046%

Together, before fees−2.264%−$226 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bulk is 1.405% dearer against BloFin than usual: you sell high and buy low (spread +1.359% now, against its 7-day average of −0.046%): +$140 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5 months. At the pace of the last 3 days (−0.132% in total) that is about 35 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin MON-USDT	0.02575	0.0132	pay 0.0066% / 4h	2h 52m	$1.4M	$241K	75x
Short	Bulk MON-USD	0.02610	0.0100	get 0.0013% / 1h	52m 25s	$110K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against BloFin. 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 BloFinbpFee BulkbpOrdersPrice spread, now +1.359%Rate

Funding earned: −$6.81
Price spread: +1.359% → −0.046%: $140.49
Slippage, 4 orders: −$76.62
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $38.06
Costs to cover: 0.956%
Break-even: from the start

Slippage from BloFin: live order book, 5 min ago; Bulk: live order book, 36 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 BloFin live order book, 5 min ago	5.80 bp	17.6 bp −$18	36.2 bp −$362	169.2 bp −$16.9K	doesn't fit
Sell Bulk live order book, 36 min ago	19.34 bp	38.8 bp −$39	74.4 bp −$744	211.8 bp −$21.2K	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	−0.0739%	1h	0.02587	+0.466%	$6K	$107	5.5x	as long as short
01 Exchange MONUSD	−0.0112%	1h	0.02574	−0.031%	$6K	$1K	5x	as long as short
Phoenix MON	0.0000%	1h	0.02574	−0.054%	$13K	$384K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02579	+0.151%	$62K	$104K	25x	as long as short
Bybit MONUSDT	+0.0002%	8h	0.02574	−0.031%	$21.5M	$11.8M	50x	as long as short
Orderly PERP_MON_USDC	+0.0092%	4h	0.02577	+0.078%	$17K	$64K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02576	+0.039%	$844K	$753K	10x	as long as short
Paradex MON-USD-PERP	+0.0099%	8h	0.02575	−0.009%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02579	+0.165%	$348K	$535K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02578	+0.105%	$34.7M	$7.4M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster MONUSDT	+0.0100%	4h	0.02577	+0.075%	$107K	$233K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02577	+0.079%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02577	+0.078%	$142K	$108K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02576	+0.039%	$24.5M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02574	−0.039%	$4.4M	$6.0M	50x	as long as short
Bulk MON-USDshort	+0.0100%	1h	0.02610	+1.359%	$110K	$3K	10x
Gate MON_USDT	+0.0100%	4h	0.02576	+0.039%	$999K	$926K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02576	+0.039%	$2.7M	$1.8M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02579	+0.174%	$775K	$403K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02586	+0.417%	$48K	$242K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02587	+0.484%	$582K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02587	+0.466%	$69K	$482K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02576	+0.039%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02578	+0.098%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02573	−0.089%	$39K	—	3x	as long as short
Kraken Futures PF_MONUSD	+0.0132%	1h	0.02579	+0.140%	$258K	$59K	10x	as long as short
BloFin MON-USDTlong	+0.0132%	4h	0.02575	long leg	$1.4M	$241K	75x
Backpack MON_USDC_PERP	+0.0161%	1h	0.02578	+0.101%	$136K	$138K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0313% / S −0.1052%	1h	0.02577	+0.097%	$13K	—	50x	as long as short
KuCoin MONUSDTM	+0.0362%	4h	0.02581	+0.233%	$3.1M	$790K	75x	as long as short
Aftermath Perps MONUSD	+0.0411%	1h	0.02587	+0.482%	$2K	$73K	10x	as long as short
Perpl MON	+0.0447%	43m	0.02577	+0.078%	$145K	$1.8M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0648%	1h	0.02625	+1.953%	$115K	$51K	50x	as long as short