Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0132%/8h= −14.4% APRpaid last 24h −0.013%

Price spread now: Bybit against BloFin+0.077%112s7-day average −0.120% · you sell dearer than you buy

Net, funding: paid 7d − costs−$105as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$750.750% of the position

Long on BloFin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.296%−$30 on $10k

Price spread, last 3 days (all we have)−1.014%−$101 · spread now +0.077%, 7d avg −0.120%

Together, before fees−1.310%−$131 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.197% dearer against BloFin than usual: you sell high and buy low (spread +0.077% now, against its 7-day average of −0.120%): +$20 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 5.0 days. The two prices were read 112 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin MON-USDT	0.02583	0.0134	pay 0.0067% / 4h	2h 55m	$1.4M	$242K	75x
Short	Bybit MONUSDT	0.02585	0.0002	get 0.0002% / 8h	2h 55m	$21.6M	$11.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.077%Rate

Funding earned: −$27.71
Price spread: +0.077% → −0.120%: $19.72
Slippage, 4 orders: −$52.01
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$82.99
Costs to cover: 0.750%
Break-even: never at this rate

Slippage from BloFin: live order book, 2 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 BloFin live order book, 2 min ago	5.80 bp	17.6 bp −$18	36.2 bp −$362	169.2 bp −$16.9K	doesn't fit
Sell Bybit live order book, 3 min ago	1.93 bp	19.5 bp −$19	54.8 bp −$548	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	−0.0739%	1h	0.02581	−0.077%	$6K	$106	5.5x	as long as short
01 Exchange MONUSD	−0.0424%	1h	0.02583	−0.019%	$6K	$1K	5x	as long as short
Phoenix MON	0.0000%	1h	0.02586	+0.108%	$13K	$384K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02585	+0.081%	$64K	$103K	25x	as long as short
Bybit MONUSDTshort	+0.0002%	8h	0.02585	+0.077%	$21.6M	$11.8M	50x
Orderly PERP_MON_USDC	+0.0093%	4h	0.02587	+0.155%	$17K	$64K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02586	+0.116%	$847K	$753K	10x	as long as short
Paradex MON-USD-PERP	+0.0099%	8h	0.02584	+0.058%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02590	+0.254%	$347K	$535K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02589	+0.232%	$34.9M	$7.5M	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	0.02585	+0.077%	$108K	$233K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02585	+0.077%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02586	+0.116%	$143K	$108K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02586	+0.126%	$24.6M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02586	+0.116%	$4.4M	$6.1M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02610	+1.045%	$110K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02586	+0.116%	$1.0M	$925K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02587	+0.155%	$2.7M	$1.8M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02579	−0.136%	$775K	$403K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02589	+0.213%	$48K	$241K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02590	+0.254%	$580K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02587	+0.155%	$69K	$482K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02583	0.000%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02588	+0.200%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02587	+0.166%	$39K	—	3x	as long as short
Backpack MON_USDC_PERP	+0.0108%	1h	0.02584	+0.058%	$136K	$137K	10x	as long as short
Kraken Futures PF_MONUSD	+0.0132%	1h	0.02586	+0.119%	$259K	$60K	10x	as long as short
BloFin MON-USDTlong	+0.0134%	4h	0.02583	long leg	$1.4M	$242K	75x
GMX MON/USD [ETH-USDC]	L +0.0313% / S −0.1052%	1h	0.02588	+0.190%	$13K	—	50x	as long as short
KuCoin MONUSDTM	+0.0374%	4h	0.02591	+0.310%	$3.2M	$790K	75x	as long as short
Aftermath Perps MONUSD	+0.0417%	1h	0.02595	+0.471%	$2K	$73K	10x	as long as short
Perpl MON	+0.0447%	43m	0.02588	+0.186%	$145K	$1.8M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0648%	1h	0.02625	+1.638%	$115K	$51K	50x	as long as short