Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0017%/8h= +1.8% APRpaid last 24h +0.109%

Price spread now: Hyperliquid against BloFin+0.332%7-day average +0.097% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on BloFin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.013%−$1 on $10k

Price spread, last 3 days (all we have)−0.558%−$56 · spread now +0.332%, 7d avg +0.097%

Together, before fees−0.571%+ Points / potential airdropHyperliquid: Season 2 · farm board−$57 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Hyperliquid is 0.235% dearer against BloFin than usual: you sell high and buy low: +$24 more if the spread goes back to its 7-day average of +0.097%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin MON-USDT	0.02593	0.0083	pay 0.0042% / 4h	2h 17m	$1.4M	$246K	75x
Short	Hyperliquid MON	0.02602	0.0100	get 0.0013% / 1h	17m 14s	$35.1M	$7.5M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.332%Rate

Funding earned: $3.49
Price spread: +0.332% → +0.097%: $23.51
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $5.99
Costs to cover: 0.210%
Break-even: from the start

Slippage unknown: BloFin: live order book, 5 min ago; Hyperliquid: live order book, 6 min ago. Net counts fees only.

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	1.92 bp	17.5 bp −$18	31.8 bp −$318	168.5 bp −$16.9K	doesn't fit
Sell Hyperliquid live order book, 6 min ago	0.96 bp	doesn't fit	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	−0.0739%	1h	0.02596	+0.116%	$6K	$109	5.5x	as long as short
01 Exchange MONUSD	−0.0224%	1h	0.02596	+0.100%	$6K	$1K	5x	as long as short
Deribit MON_USDC-PERPETUAL	−0.0212%	1h	0.02599	+0.224%	$63K	$110K	25x	as long as short
Phoenix MON	0.0000%	1h	0.02599	+0.228%	$14K	$384K	5x	as long as short
Bybit MONUSDT	+0.0001%	8h	0.02595	+0.077%	$21.6M	$11.8M	50x	as long as short
BloFin MON-USDTlong	+0.0083%	4h	0.02593	long leg	$1.4M	$246K	75x
Orderly PERP_MON_USDC	+0.0091%	4h	0.02596	+0.116%	$17K	$64K	10x	as long as short
Paradex MON-USD-PERP	+0.0095%	8h	0.02597	+0.137%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02599	+0.231%	$853K	$758K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02602	+0.356%	$381K	$531K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid MONshort	+0.0100%	1h	0.02602	+0.332%	$35.1M	$7.5M	5x
Aster MONUSDT	+0.0100%	4h	0.02597	+0.155%	$108K	$233K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02599	+0.248%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02597	+0.154%	$143K	$106K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02597	+0.154%	$24.7M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02595	+0.077%	$4.4M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02602	+0.347%	$109K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02599	+0.231%	$1.0M	$934K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02599	+0.231%	$2.8M	$1.8M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02598	+0.187%	$783K	$411K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02597	+0.169%	$48K	$243K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02598	+0.195%	$585K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02602	+0.347%	$69K	$481K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02597	+0.154%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02602	+0.344%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02597	+0.154%	$39K	—	3x	as long as short
Kraken Futures PF_MONUSD	+0.0131%	1h	0.02601	+0.314%	$268K	$67K	10x	as long as short
Aftermath Perps MONUSD	+0.0164%	1h	0.02599	+0.222%	$2K	$73K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02599	+0.231%	$9K	—	50x	as long as short
Backpack MON_USDC_PERP	+0.0305%	1h	0.02598	+0.204%	$138K	$136K	10x	as long as short
KuCoin MONUSDTM	+0.0386%	4h	0.02602	+0.347%	$3.2M	$745K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02597	+0.170%	$145K	$1.8M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0648%	1h	0.02607	+0.555%	$115K	$50K	50x	as long as short