Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0137%/8h= −15.0% APRpaid last 24h 0.000%

Price spread now: Bybit against Bulk+0.312%7-day average −0.074% · 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−$51as in the Price arb table

costs, in and out, $10k−$900.898% of the position

Long on Bulk Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.054%−$5 on $10k

Price spread, last 4 days (all we have)−0.062%−$6 · spread now +0.312%, 7d avg −0.074%

Together, before fees−0.116%−$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.386% dearer against Bulk than usual: you sell high and buy low (spread +0.312% now, against its 7-day average of −0.074%): +$39 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 9.4 days. At the pace of the last 3 days (−0.054% in total) that is about 24 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk MON-USD	0.02580	0.0100	pay 0.0013% / 1h	56m 57s	$108K	$3K	10x
Short	Bybit MONUSDT	0.02588	−0.0037	pay 0.0037% / 8h	1h 56m	$21.6M	$11.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Bulk. 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 BulkbpFee BybitbpOrdersPrice spread, now +0.312%Rate

Funding earned: −$28.72
Price spread: +0.312% → −0.074%: $38.59
Slippage, 4 orders: −$71.81
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$79.94
Costs to cover: 0.898%
Break-even: never at this rate

Slippage from Bulk: live order book, 27 min ago; Bybit: live order book, 2 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 Bulk live order book, 27 min ago	19.27 bp	22.8 bp −$23	43.0 bp −$430	108.7 bp −$10.9K	744.7 bp −$372.4K
Sell Bybit live order book, 2 min ago	3.88 bp	26.0 bp −$26	71.3 bp −$713	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	−0.0672%	1h	0.02580	−0.002%	$6K	$1K	5x	as long as short
Deribit MON_USDC-PERPETUAL	−0.0291%	1h	0.02587	+0.289%	$70K	$117K	25x	as long as short
Injective MON/USDC PERP	−0.0053%	1h	0.02582	+0.079%	$6K	$107	5.5x	as long as short
Bybit MONUSDTshort	−0.0037%	8h	0.02588	+0.312%	$21.6M	$11.8M	50x
Phoenix MON	0.0000%	1h	0.02582	+0.091%	$13K	$362K	5x	as long as short
Perpl MON	0.0000%	43m	0.02583	+0.099%	$144K	$1.8M	10x	as long as short
Aftermath Perps MONUSD	+0.0031%	1h	0.02584	+0.176%	$2K	$73K	10x	as long as short
BloFin MON-USDT	+0.0043%	4h	0.02581	+0.040%	$1.4M	$245K	75x	as long as short
Paradex MON-USD-PERP	+0.0064%	8h	0.02583	+0.106%	$8K	$42	5x	as long as short
Orderly PERP_MON_USDC	+0.0075%	4h	0.02584	+0.157%	$17K	$64K	10x	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	0.02587	+0.273%	$846K	$760K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02586	+0.245%	$389K	$534K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02591	+0.420%	$34.9M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02587	+0.279%	$108K	$233K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02583	+0.135%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02583	+0.110%	$143K	$106K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02588	+0.326%	$24.6M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02588	+0.312%	$4.4M	$6.0M	50x	as long as short
Bulk MON-USDlong	+0.0100%	1h	0.02580	long leg	$108K	$3K	10x
Gate MON_USDT	+0.0100%	4h	0.02588	+0.312%	$1.0M	$862K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02590	+0.389%	$2.8M	$1.8M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02578	−0.060%	$777K	$411K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02580	+0.006%	$47K	$242K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02584	+0.148%	$581K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02580	+0.002%	$69K	$480K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02584	+0.157%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02592	+0.486%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02585	+0.215%	$39K	—	3x	as long as short
Kraken Futures PF_MONUSD	+0.0173%	1h	0.02589	+0.366%	$267K	$67K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02586	+0.242%	$9K	—	50x	as long as short
KuCoin MONUSDTM	+0.0296%	4h	0.02591	+0.428%	$3.2M	$747K	75x	as long as short
Backpack MON_USDC_PERP	+0.0326%	1h	0.02589	+0.362%	$138K	$137K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0536%	1h	0.02607	+1.037%	$114K	$50K	50x	as long as short