Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0127%/8h= +13.9% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against Bybit+0.039%49s7-day average +0.110% · you sell dearer than you buy

Net, funding: paid 7d − costs−$80as 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−$880.876% of the position

Long on Bybit Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.075%+$7 on $10k

Price spread, last 3 days (all we have)+0.383%+$38 · spread now +0.039%, 7d avg +0.110%

Together, before fees+0.458%+$46 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.071% cheaper against Bybit than usual: you would sell low and buy high (spread +0.039% now, against its 7-day average of +0.110%). If the spread goes back, that is −$7 on $10k: about 45 hours of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.075% in total) that is about 6.7 days. The two prices were read 49 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	Bybit MONUSDT	0.02580	−0.0027	get 0.0027% / 8h	2h 02m	$21.5M	$11.8M	50x
Short	ApeX Omni MONUSDT	0.02581	0.0100	get 0.0013% / 1h	2m 39s	$69K	$480K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bybit. 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 BybitbpFee ApeX OmnibpOrdersPrice spread, now +0.039%Rate

Funding earned: $26.74
Price spread: +0.039% → +0.110%: −$7.1
Slippage, 4 orders: −$66.56
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$67.91
Costs to cover: 0.876%
Break-even: 24.8 days

Slippage from Bybit: live order book, 1 min ago; ApeX Omni: live order book, 20 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 Bybit live order book, 1 min ago	3.88 bp	22.1 bp −$22	68.7 bp −$687	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 20 min ago	9.61 bp	18.0 bp −$18	108.8 bp −$1,088	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	0.02599	+0.736%	$6K	$110	5.5x	as long as short
Deribit MON_USDC-PERPETUAL	−0.0369%	1h	0.02583	+0.120%	$66K	$114K	25x	as long as short
01 Exchange MONUSD	−0.0344%	1h	0.02576	−0.174%	$6K	$1K	5x	as long as short
Bybit MONUSDTlong	−0.0027%	8h	0.02580	long leg	$21.5M	$11.8M	50x
Phoenix MON	0.0000%	1h	0.02591	+0.419%	$13K	$384K	5x	as long as short
Paradex MON-USD-PERP	+0.0070%	8h	0.02581	+0.020%	$8K	$42	5x	as long as short
Aftermath Perps MONUSD	+0.0075%	1h	0.02588	+0.295%	$2K	$73K	10x	as long as short
Orderly PERP_MON_USDC	+0.0077%	4h	0.02580	0.000%	$17K	$64K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02583	+0.116%	$844K	$763K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02585	+0.191%	$388K	$536K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid MON	+0.0100%	1h	0.02584	+0.167%	$34.8M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02583	+0.124%	$108K	$233K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02583	+0.133%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02583	+0.116%	$143K	$106K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02582	+0.078%	$24.5M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02581	+0.039%	$4.4M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02600	+0.775%	$109K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02583	+0.116%	$1.0M	$935K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02583	+0.116%	$2.7M	$1.8M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02579	−0.024%	$778K	$412K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02579	−0.047%	$47K	$243K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02581	+0.038%	$581K	$1.5M	10x	as long as short
ApeX Omni MONUSDTshort	+0.0100%	1h	0.02581	+0.039%	$69K	$480K	50x
SoDEX MON-USD	+0.0100%	1h	0.02581	+0.039%	$5K	$6K	5x	as long as short
BloFin MON-USDT	+0.0101%	4h	0.02576	−0.155%	$1.4M	$244K	75x	as long as short
Extended MON-USD	+0.0104%	1h	0.02585	+0.187%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02581	+0.043%	$39K	—	3x	as long as short
Kraken Futures PF_MONUSD	+0.0132%	1h	0.02586	+0.215%	$267K	$67K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02584	+0.167%	$9K	—	50x	as long as short
Backpack MON_USDC_PERP	+0.0272%	1h	0.02584	+0.159%	$138K	$137K	10x	as long as short
KuCoin MONUSDTM	+0.0320%	4h	0.02583	+0.116%	$3.1M	$747K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02583	+0.105%	$144K	$1.8M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0648%	1h	0.02607	+1.035%	$114K	$50K	50x	as long as short