Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Variational Omni against Extended−0.034%7-day average −0.218% · you buy dearer than you sell

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

Long on Extended Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.038%−$4 on $10k

Price spread, last 3 days (all we have)+0.203%+$20 · spread now −0.034%, 7d avg −0.218%

Together, before fees+0.164%+ Points / potential airdropExtended: Active · Variational Omni: Active · farm board+$16 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.184% dearer against Extended than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of −0.218%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended MON-USD	0.02597	0.0104	pay 0.0013% / 1h	13m 20s	$52K	$407K	10x
Short	Variational Omni MON	0.02596	0.0100	get 0.0100% / 8h	2h 13m	$782K	$412K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Extended. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ExtendedbpFee Variational OmnibpOrdersPrice spread, now −0.034%Rate

Funding earned: −$0.84
Price spread: −0.034% → −0.218%: $18.42
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $12.58
Costs to cover: 0.050%
Break-even: from the start

Slippage unknown: Extended: live order book, 9 min ago; Variational Omni: RFQ quote, 11 min ago. 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 Extended live order book, 9 min ago	3.85 bp	25.4 bp −$25	237.2 bp −$2,372	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 11 min ago	17.36 bp	doesn't fit	187.1 bp −$1,871	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	−0.0739%	1h	0.02599	+0.067%	$6K	$110	5.5x	as long as short
Deribit MON_USDC-PERPETUAL	−0.0289%	1h	0.02595	−0.103%	$63K	$110K	25x	as long as short
01 Exchange MONUSD	−0.0232%	1h	0.02597	+0.001%	$6K	$1K	5x	as long as short
Bybit MONUSDT	0.0000%	8h	0.02593	−0.153%	$21.6M	$11.8M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02599	+0.059%	$14K	$384K	5x	as long as short
Orderly PERP_MON_USDC	+0.0091%	4h	0.02594	−0.126%	$17K	$64K	10x	as long as short
Paradex MON-USD-PERP	+0.0094%	8h	0.02598	+0.010%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02596	−0.049%	$852K	$758K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02604	+0.261%	$384K	$533K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02599	+0.075%	$35.0M	$7.5M	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	0.02599	+0.085%	$108K	$233K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02602	+0.164%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02600	+0.105%	$143K	$106K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02596	−0.041%	$24.6M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02591	−0.241%	$4.4M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02602	+0.183%	$109K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02599	+0.067%	$1.0M	$935K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02598	+0.028%	$2.8M	$1.8M	25x	as long as short
Variational Omni MONshort	+0.0100%	8h	0.02596	−0.034%	$782K	$412K	—
edgeX MONUSDC	+0.0100%	4h	0.02600	+0.118%	$48K	$244K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02598	+0.039%	$585K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02600	+0.105%	$69K	$480K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02593	−0.164%	$5K	$6K	5x	as long as short
Extended MON-USDlong	+0.0104%	1h	0.02597	long leg	$52K	$407K	10x
Aevo MON-PERP	+0.0104%	1h	0.02593	−0.183%	$39K	—	3x	as long as short
BloFin MON-USDT	+0.0125%	4h	0.02599	+0.067%	$1.4M	$246K	75x	as long as short
Kraken Futures PF_MONUSD	+0.0131%	1h	0.02598	+0.013%	$268K	$67K	10x	as long as short
Aftermath Perps MONUSD	+0.0136%	1h	0.02599	+0.073%	$2K	$73K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02597	−0.014%	$9K	—	50x	as long as short
Backpack MON_USDC_PERP	+0.0314%	1h	0.02601	+0.128%	$138K	$136K	10x	as long as short
KuCoin MONUSDTM	+0.0388%	4h	0.02600	+0.105%	$3.2M	$747K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02597	−0.018%	$145K	$1.8M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0648%	1h	0.02607	+0.363%	$114K	$50K	50x	as long as short