Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0708%/8h= −77.5% APRpaid last 24h −0.235%

Price spread now: Bybit against Coinbase International+0.278%7-day average −0.599% · you sell dearer than you buy

Net, funding: paid 7d − costs−$394as in the Funding arb table

Net, price: spread back to 7d avg − costs−$202as in the Price arb table

costs, in and out, $10k−$2902.897% of the position

Long on Coinbase International Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−1.046%−$105 on $10k

Price spread, last 3 days (all we have)−0.782%−$78 · spread now +0.278%, 7d avg −0.599%

Together, before fees−1.828%−$183 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.876% dearer against Coinbase International than usual: you sell high and buy low (spread +0.278% now, against its 7-day average of −0.599%): +$88 on $10k if it goes back. Holding the pair costs −$21 a day in funding at the current rate, which eats that in about 4.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MON-PERP-INTX	0.02558	0.0808	pay 0.0101% / 1h	46m 17s	$113K	$49K	50x
Short	Bybit MONUSDT	0.02565	0.0100	get 0.0100% / 8h	7h 46m	$21.2M	$12.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Coinbase International. 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 Coinbase InternationalbpFee BybitbpOrdersPrice spread, now +0.278%Rate

Funding earned: −$148.68
Price spread: +0.278% → −0.599%: $87.64
Slippage, 4 orders: −$268.73
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$350.77
Costs to cover: 2.897%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 26 min ago; Bybit: live order book, 2 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 Coinbase International live order book, 26 min ago	36.15 bp	130.6 bp −$131	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	1.96 bp	19.5 bp −$19	60.0 bp −$600	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	−0.0444%	1h	0.02556	−0.074%	$6K	$105	5.5x	as long as short
Backpack MON_USDC_PERP	−0.0083%	1h	0.02566	+0.305%	$127K	$141K	10x	as long as short
Phoenix MON	0.0000%	1h	0.02555	−0.106%	$13K	$351K	5x	as long as short
01 Exchange MONUSD	+0.0032%	1h	0.02560	+0.090%	$6K	$1K	5x	as long as short
Deribit MON_USDC-PERPETUAL	+0.0062%	1h	0.02566	+0.328%	$69K	$119K	25x	as long as short
Orderly PERP_MON_USDC	+0.0070%	4h	0.02564	+0.238%	$17K	$64K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02567	+0.356%	$853K	$744K	10x	as long as short
Paradex MON-USD-PERP	+0.0098%	8h	0.02560	+0.083%	$8K	$42	5x	as long as short
Aftermath Perps MONUSD	+0.0099%	1h	0.02556	−0.064%	$3K	$75K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02563	+0.195%	$391K	$540K	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	0.02561	+0.121%	$34.7M	$7.6M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02560	+0.096%	$106K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02560	+0.075%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02561	+0.121%	$141K	$104K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02563	+0.215%	$24.5M	$25.6M	75x	as long as short
Bybit MONUSDTshort	+0.0100%	8h	0.02565	+0.278%	$21.2M	$12.1M	50x
OKX MON-USDT-SWAP	+0.0100%	4h	0.02562	+0.160%	$4.3M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02550	−0.309%	$105K	$2K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02560	+0.082%	$977K	$893K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02566	+0.317%	$2.7M	$1.9M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02558	−0.012%	$771K	$407K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02552	−0.212%	$47K	$244K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02556	−0.061%	$579K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02554	−0.152%	$68K	$483K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02565	+0.278%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02569	+0.448%	$49K	$444K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02565	+0.278%	$39K	—	3x	as long as short
KuCoin MONUSDTM	+0.0194%	4h	0.02568	+0.395%	$3.0M	$720K	75x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0598%	1h	0.02562	+0.176%	$8K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02553	−0.192%	$1.3M	$306K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02560	+0.094%	$123K	$1.8M	10x	as long as short
Kraken Futures PF_MONUSD	+0.0465%	1h	0.02569	+0.417%	$270K	$78K	10x	as long as short
Coinbase International MON-PERP-INTXlong	+0.0808%	1h	0.02558	long leg	$113K	$49K	50x