Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0028%/8h= +3.1% APRpaid last 24h +0.177%

Price spread now: Coinbase International against BloFin+0.397%58s7-day average +0.497% · you sell dearer than you buy

Net, funding: paid 7d − costs−$13as 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−$890.894% of the position

Long on BloFin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.759%+$76 on $10k

Price spread, last 4 days (all we have)−0.315%−$32 · spread now +0.397%, 7d avg +0.497%

Together, before fees+0.444%+$44 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.100% cheaper against BloFin than usual: you would sell low and buy high (spread +0.397% now, against its 7-day average of +0.497%). If the spread goes back, that is −$10 on $10k: about 12 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.759% in total) that is about 22 hours. The two prices were read 58 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	0.02520	0.0340	pay 0.0170% / 4h	3h 11m	$1.3M	$340K	75x
Short	Coinbase International MON-PERP-INTX	0.02530	0.0368	get 0.0046% / 1h	11m 35s	$110K	$57K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.397%Rate

Funding earned: $5.88
Price spread: +0.397% → +0.497%: −$9.98
Slippage, 4 orders: −$67.41
Fee BloFin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$93.5
Costs to cover: 0.894%
Break-even: 118.3 days

Slippage from BloFin: live order book, 1 min ago; Coinbase International: live order book, 41 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, 1 min ago	3.99 bp	17.3 bp −$17	40.3 bp −$403	doesn't fit	doesn't fit
Sell Coinbase International live order book, 41 min ago	17.19 bp	27.5 bp −$27	doesn't fit	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	−0.0203%	1h	0.02515	−0.198%	$5K	$114	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02513	−0.286%	$12K	$358K	5x	as long as short
Bybit MONUSDT	+0.0009%	8h	0.02508	−0.476%	$20.6M	$13.5M	50x	as long as short
Deribit MON_USDC-PERPETUAL	+0.0029%	1h	0.02511	−0.373%	$74K	$136K	25x	as long as short
Backpack MON_USDC_PERP	+0.0049%	1h	0.02510	−0.385%	$110K	$152K	10x	as long as short
Orderly PERP_MON_USDC	+0.0077%	4h	0.02511	−0.357%	$16K	$48K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02512	−0.317%	$842K	$732K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02509	−0.446%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02513	−0.293%	$406K	$586K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02512	−0.333%	$33.8M	$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	0.02512	−0.327%	$101K	$222K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02514	−0.228%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02510	−0.389%	$139K	$93K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02509	−0.437%	$23.9M	$27.0M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02508	−0.476%	$4.2M	$6.1M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02510	−0.392%	$103K	$1K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02510	−0.397%	$937K	$989K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02515	−0.198%	$2.9M	$765K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02511	−0.357%	$2.7M	$2.2M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02516	−0.156%	$746K	$408K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02515	−0.185%	$41K	$250K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02517	−0.128%	$567K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02517	−0.119%	$68K	$521K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02510	−0.397%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02511	−0.366%	$48K	$364K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02509	−0.425%	$38K	—	3x	as long as short
01 Exchange MONUSD	+0.0216%	1h	0.02510	−0.377%	$6K	$1K	5x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02511	−0.341%	$9K	—	50x	as long as short
BloFin MON-USDTlong	+0.0340%	4h	0.02520	long leg	$1.3M	$340K	75x
Aftermath Perps MONUSD	+0.0345%	1h	0.02515	−0.183%	$2K	$78K	10x	as long as short
Coinbase International MON-PERP-INTXshort	+0.0368%	1h	0.02530	+0.397%	$110K	$57K	50x
Perpl MON	+0.0447%	43m	0.02514	−0.242%	$114K	$2.2M	10x	as long as short
Kraken Futures PF_MONUSD	+0.0726%	1h	0.02513	−0.285%	$270K	$113K	10x	as long as short