Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0592%/8h= +64.8% APRpaid last 24h +0.223%

Price spread now: Coinbase International against Bybit+1.326%7-day average +0.580% · you sell dearer than you buy

Net, funding: paid 7d − costs+$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$950.949% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+1.038%+$104 on $10k

Price spread, last 3 days (all we have)−0.897%−$90 · spread now +1.326%, 7d avg +0.580%

Together, before fees+0.141%+$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and Coinbase International is 0.746% dearer against Bybit than usual: you sell high and buy low: +$75 more if the spread goes back to its 7-day average of +0.580%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MONUSDT	0.02573	−0.0056	get 0.0056% / 8h	1h 23m	$21.4M	$11.8M	50x
Short	Coinbase International MON-PERP-INTX	0.02607	0.0536	get 0.0067% / 1h	23m 00s	$114K	$49K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +1.326%Rate

Funding earned: $124.26
Price spread: +1.326% → +0.580%: $74.57
Slippage, 4 orders: −$73.85
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $103.98
Costs to cover: 0.949%
Break-even: 1.1 days

Slippage from Bybit: live order book, 1 min ago; Coinbase International: live order book, 60 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	3.89 bp	20.7 bp −$21	65.7 bp −$657	doesn't fit	doesn't fit
Sell Coinbase International live order book, 60 min ago	16.34 bp	21.7 bp −$22	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
Bybit MONUSDTlong	−0.0056%	8h	0.02573	long leg	$21.4M	$11.8M	50x
Injective MON/USDC PERP	−0.0053%	1h	0.02582	+0.365%	$6K	$108	5.5x	as long as short
01 Exchange MONUSD	−0.0016%	1h	0.02579	+0.249%	$6K	$1K	5x	as long as short
Phoenix MON	0.0000%	1h	0.02575	+0.082%	$13K	$362K	5x	as long as short
Perpl MON	0.0000%	43m	0.02576	+0.152%	$143K	$1.8M	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02576	+0.140%	$70K	$119K	25x	as long as short
Aftermath Perps MONUSD	+0.0031%	1h	0.02577	+0.190%	$2K	$73K	10x	as long as short
Orderly PERP_MON_USDC	+0.0067%	4h	0.02573	+0.016%	$17K	$64K	10x	as long as short
Paradex MON-USD-PERP	+0.0082%	8h	0.02574	+0.057%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02577	+0.171%	$854K	$773K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado MON-PERP	+0.0100%	1h	0.02579	+0.265%	$388K	$539K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02579	+0.264%	$34.9M	$7.4M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02577	+0.171%	$108K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02577	+0.157%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02576	+0.132%	$142K	$107K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02574	+0.064%	$24.5M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02573	+0.016%	$4.4M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02570	−0.101%	$108K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02577	+0.171%	$1.0M	$872K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02577	+0.171%	$2.7M	$1.8M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02576	+0.136%	$128K	$142K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02573	+0.003%	$780K	$407K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02575	+0.083%	$47K	$242K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02578	+0.198%	$578K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02578	+0.210%	$69K	$480K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02574	+0.054%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02580	+0.274%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02574	+0.066%	$39K	—	3x	as long as short
Kraken Futures PF_MONUSD	+0.0174%	1h	0.02578	+0.223%	$271K	$77K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0598%	1h	0.02577	+0.171%	$9K	—	50x	as long as short
KuCoin MONUSDTM	+0.0296%	4h	0.02582	+0.365%	$3.2M	$698K	75x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02577	+0.171%	$1.4M	$293K	75x	as long as short
Coinbase International MON-PERP-INTXshort	+0.0536%	1h	0.02607	+1.326%	$114K	$49K	50x