Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0126%/8h= +13.8% APRpaid last 24h +0.013%

Price spread now: Bulk against Bybit+0.012%7-day average +0.075% · 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−$88as in the Price arb table

costs, in and out, $10k−$820.817% of the position

Long on Bybit Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.066%+$7 on $10k

Price spread, last 4 days (all we have)−0.189%−$19 · spread now +0.012%, 7d avg +0.075%

Together, before fees−0.124%−$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bulk is 0.063% cheaper against Bybit than usual: you would sell low and buy high (spread +0.012% now, against its 7-day average of +0.075%). If the spread goes back, that is −$6 on $10k: about 40 hours of funding at the current rate (+$4 a day). At the pace of the last 4 days (+0.066% in total) that is about 3.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MONUSDT	0.02520	−0.0026	get 0.0026% / 8h	3h 33m	$20.7M	$13.4M	50x
Short	Bulk MON-USD	0.02520	0.0100	get 0.0013% / 1h	33m 14s	$103K	$2K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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 BulkbpOrdersPrice spread, now +0.012%Rate

Funding earned: $26.38
Price spread: +0.012% → +0.075%: −$6.26
Slippage, 4 orders: −$63.74
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$61.62
Costs to cover: 0.817%
Break-even: 23.4 days

Slippage from Bybit: live order book, just now; Bulk: live order book, 21 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, just now	3.97 bp	17.1 bp −$17	61.8 bp −$618	doesn't fit	doesn't fit
Sell Bulk live order book, 21 min ago	19.80 bp	23.3 bp −$23	47.8 bp −$478	165.1 bp −$16.5K	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	0.02523	+0.131%	$5K	$112	5.5x	as long as short
Bybit MONUSDTlong	−0.0026%	8h	0.02520	long leg	$20.7M	$13.4M	50x
Phoenix MON	0.0000%	1h	0.02522	+0.087%	$12K	$358K	5x	as long as short
Orderly PERP_MON_USDC	+0.0073%	4h	0.02521	+0.052%	$16K	$48K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02522	+0.091%	$845K	$732K	10x	as long as short
Backpack MON_USDC_PERP	+0.0096%	1h	0.02522	+0.071%	$112K	$151K	10x	as long as short
Paradex MON-USD-PERP	+0.0097%	8h	0.02520	−0.005%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02522	+0.105%	$412K	$584K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02522	+0.099%	$34.0M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02521	+0.039%	$101K	$222K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX MON-USD	+0.0100%	1h	0.02521	+0.043%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02520	+0.020%	$139K	$93K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02520	+0.012%	$24.0M	$26.9M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02520	+0.012%	$4.2M	$6.0M	50x	as long as short
Bulk MON-USDshort	+0.0100%	1h	0.02520	+0.012%	$103K	$2K	10x
Gate MON_USDT	+0.0100%	4h	0.02521	+0.052%	$943K	$982K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02524	+0.171%	$2.9M	$761K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02521	+0.052%	$2.7M	$2.2M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02519	−0.045%	$746K	$411K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02521	+0.053%	$41K	$251K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02523	+0.126%	$568K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02523	+0.131%	$68K	$518K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02521	+0.052%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02522	+0.108%	$48K	$519K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02520	+0.004%	$38K	—	3x	as long as short
01 Exchange MONUSD	+0.0200%	1h	0.02522	+0.103%	$6K	$1K	5x	as long as short
Deribit MON_USDC-PERPETUAL	+0.0226%	1h	0.02521	+0.060%	$74K	$136K	25x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02520	0.000%	$9K	—	50x	as long as short
Aftermath Perps MONUSD	+0.0324%	1h	0.02521	+0.056%	$2K	$74K	10x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02521	+0.052%	$1.3M	$340K	75x	as long as short
Coinbase International MON-PERP-INTX	+0.0368%	1h	0.02526	+0.262%	$110K	$57K	50x	as long as short
Perpl MON	+0.0447%	43m	0.02521	+0.040%	$114K	$2.3M	10x	as long as short
Kraken Futures PF_MONUSD	+0.0723%	1h	0.02524	+0.158%	$271K	$113K	10x	as long as short