Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0091%/8h= +10.0% APRpaid last 24h 0.000%

Price spread now: Orderly against Bybit+0.607%50s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.060%+$6 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Orderly is 0.607% dearer against Bybit than usual: you sell high and buy low: +$61 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 50 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	0.02571	0.0002	pay 0.0002% / 8h	2h 54m	$21.5M	$11.8M	50x
Short	Orderly PERP_MON_USDC	0.02587	0.0093	get 0.0046% / 4h	2h 54m	$17K	$64K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.607%Rate

Funding earned: $19.12
Price spread: +0.607% → 0.000%: $60.67
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Orderly: 3 bp × 2 orders: −$6
Net: $62.78
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: Bybit: live order book, 4 min ago; Orderly: no order-book sample. Net counts fees only.

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, 4 min ago	1.93 bp	21.6 bp −$22	75.0 bp −$750	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.02587	+0.607%	$6K	$107	5.5x	as long as short
01 Exchange MONUSD	−0.0400%	1h	0.02583	+0.432%	$6K	$1K	5x	as long as short
Phoenix MON	0.0000%	1h	0.02586	+0.560%	$13K	$384K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02589	+0.696%	$64K	$103K	25x	as long as short
Bybit MONUSDTlong	+0.0002%	8h	0.02571	long leg	$21.5M	$11.8M	50x
Orderly PERP_MON_USDCshort	+0.0093%	4h	0.02587	+0.607%	$17K	$64K	10x
Lighter MON	+0.0096%	1h	0.02584	+0.490%	$847K	$753K	10x	as long as short
Paradex MON-USD-PERP	+0.0099%	8h	0.02577	+0.234%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02577	+0.223%	$347K	$537K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02575	+0.144%	$34.7M	$7.4M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster MONUSDT	+0.0100%	4h	0.02585	+0.529%	$108K	$233K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02584	+0.489%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02582	+0.404%	$143K	$108K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02575	+0.159%	$24.5M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02570	−0.054%	$4.4M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02610	+1.501%	$110K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02580	+0.334%	$1.0M	$926K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02576	+0.179%	$2.7M	$1.8M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02579	+0.315%	$775K	$403K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02589	+0.665%	$48K	$241K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02590	+0.706%	$580K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02587	+0.607%	$69K	$482K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02588	+0.646%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02582	+0.427%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02587	+0.618%	$39K	—	3x	as long as short
Backpack MON_USDC_PERP	+0.0130%	1h	0.02588	+0.634%	$136K	$137K	10x	as long as short
Kraken Futures PF_MONUSD	+0.0132%	1h	0.02589	+0.673%	$259K	$59K	10x	as long as short
BloFin MON-USDT	+0.0134%	4h	0.02587	+0.607%	$1.4M	$242K	75x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0313% / S −0.1052%	1h	0.02588	+0.642%	$13K	—	50x	as long as short
KuCoin MONUSDTM	+0.0366%	4h	0.02588	+0.646%	$3.2M	$790K	75x	as long as short
Aftermath Perps MONUSD	+0.0417%	1h	0.02595	+0.925%	$2K	$73K	10x	as long as short
Perpl MON	+0.0447%	43m	0.02576	+0.171%	$144K	$1.8M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0648%	1h	0.02625	+2.096%	$115K	$51K	50x	as long as short