Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0413%/8h= +45.2% APRpaid last 24h +0.013%

Price spread now: BloFin against Bybit+0.078%7-day average +0.118% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$670.667% of the position

Long on Bybit Short on BloFin

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)+0.267%+$27 · spread now +0.078%, 7d avg +0.118%

Together, before fees+0.563%+$56 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.040% cheaper against Bybit than usual: you would sell low and buy high (spread +0.078% now, against its 7-day average of +0.118%). If the spread goes back, that is −$4 on $10k: about 8 hours of funding at the current rate (+$12 a day). At the pace of the last 7 days (+0.296% in total) that is about 23 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MONUSDT	0.02575	−0.0073	get 0.0073% / 8h	57m 04s	$21.3M	$11.9M	50x
Short	BloFin MON-USDT	0.02577	0.0340	get 0.0170% / 4h	57m 04s	$1.3M	$308K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.078%Rate

Funding earned: $86.7
Price spread: +0.078% → +0.118%: −$4.04
Slippage, 4 orders: −$43.71
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BloFin: 6 bp × 2 orders: −$12
Net: $15.95
Costs to cover: 0.667%
Break-even: 5.7 days

Slippage from Bybit: live order book, 1 min ago; BloFin: live order book, 5 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	1.95 bp	21.7 bp −$22	67.5 bp −$675	doesn't fit	doesn't fit
Sell BloFin live order book, 5 min ago	3.91 bp	12.1 bp −$12	42.6 bp −$426	131.0 bp −$13.1K	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	−0.0121%	1h	0.02575	0.000%	$6K	$103	5.5x	as long as short
Backpack MON_USDC_PERP	−0.0099%	1h	0.02578	+0.117%	$128K	$141K	10x	as long as short
Bybit MONUSDTlong	−0.0073%	8h	0.02575	long leg	$21.3M	$11.9M	50x
01 Exchange MONUSD	−0.0072%	1h	0.02571	−0.155%	$6K	$1K	5x	as long as short
Phoenix MON	0.0000%	1h	0.02576	+0.019%	$13K	$360K	5x	as long as short
Perpl MON	0.0000%	43m	0.02573	−0.062%	$128K	$1.8M	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02575	+0.008%	$70K	$119K	25x	as long as short
Aftermath Perps MONUSD	+0.0020%	1h	0.02566	−0.345%	$2K	$74K	10x	as long as short
Orderly PERP_MON_USDC	+0.0066%	4h	0.02573	−0.078%	$17K	$64K	10x	as long as short
Paradex MON-USD-PERP	+0.0090%	8h	0.02570	−0.186%	$8K	$42	5x	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	0.02579	+0.155%	$861K	$772K	10x	as long as short
Variational Omni MON	+0.0099%	8h	0.02554	−0.810%	$772K	$408K	—	as long as short
Nado MON-PERP	+0.0100%	1h	0.02576	+0.022%	$391K	$545K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02579	+0.171%	$34.9M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02579	+0.140%	$108K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02573	−0.073%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02571	−0.140%	$142K	$105K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02577	+0.079%	$24.6M	$25.0M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02575	0.000%	$4.4M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02555	−0.777%	$107K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02579	+0.155%	$995K	$866K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02580	+0.194%	$2.7M	$1.8M	25x	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02567	−0.315%	$47K	$242K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02558	−0.646%	$574K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02568	−0.272%	$68K	$482K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02574	−0.039%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02575	+0.014%	$51K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02575	+0.004%	$39K	—	3x	as long as short
KuCoin MONUSDTM	+0.0240%	4h	0.02583	+0.311%	$3.0M	$711K	75x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0598%	1h	0.02575	+0.012%	$9K	—	50x	as long as short
BloFin MON-USDTshort	+0.0340%	4h	0.02577	+0.078%	$1.3M	$308K	75x
Kraken Futures PF_MONUSD	+0.0419%	1h	0.02577	+0.091%	$271K	$78K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0480%	1h	0.02579	+0.163%	$114K	$50K	50x	as long as short