Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.122%

Price spread now: SoDEX against Hyperliquid−0.304%51s7-day average — · you buy dearer than you sell

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

Long on Hyperliquid Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SoDEX is 0.304% cheaper against Hyperliquid than usual: you would sell low and buy high, −$30 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 51 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	Hyperliquid MON	0.02601	0.0100	pay 0.0013% / 1h	55m 31s	$35.1M	$7.5M	5x
Short	SoDEX MON-USD	0.02593	0.0100	get 0.0013% / 1h	55m 31s	$5K	$6K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Hyperliquid. 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 HyperliquidbpFee SoDEXbpOrdersPrice spread, now −0.304%Rate

Funding earned: $0
Price spread: −0.304% → 0.000%: −$30.37
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$47.37
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 8 min ago; SoDEX: 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 Hyperliquid live order book, 8 min ago	0.19 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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
01 Exchange MONUSD	−0.0440%	1h	0.02600	−0.054%	$6K	$1K	5x	as long as short
Deribit MON_USDC-PERPETUAL	−0.0058%	1h	0.02595	−0.242%	$70K	$117K	25x	as long as short
Injective MON/USDC PERP	−0.0053%	1h	0.02582	−0.727%	$6K	$107	5.5x	as long as short
Bybit MONUSDT	−0.0031%	8h	0.02596	−0.188%	$21.6M	$11.8M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02582	−0.715%	$13K	$362K	5x	as long as short
Perpl MON	0.0000%	43m	0.02599	−0.073%	$145K	$1.8M	10x	as long as short
Aftermath Perps MONUSD	+0.0027%	1h	0.02588	−0.503%	$2K	$73K	10x	as long as short
BloFin MON-USDT	+0.0043%	4h	0.02581	−0.765%	$1.4M	$245K	75x	as long as short
Paradex MON-USD-PERP	+0.0066%	8h	0.02594	−0.247%	$8K	$42	5x	as long as short
Orderly PERP_MON_USDC	+0.0075%	4h	0.02592	−0.342%	$17K	$64K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MON	+0.0096%	1h	0.02596	−0.188%	$849K	$760K	10x	as long as short
Hyperliquid MONlong	+0.0100%	1h	0.02601	long leg	$35.1M	$7.5M	5x
Aster MONUSDT	+0.0100%	4h	0.02592	−0.335%	$108K	$233K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02589	−0.462%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02595	−0.223%	$143K	$106K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02595	−0.231%	$24.6M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02595	−0.227%	$4.4M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02580	−0.805%	$108K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02593	−0.304%	$1.0M	$862K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02598	−0.111%	$2.8M	$1.8M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02578	−0.865%	$777K	$411K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02580	−0.799%	$47K	$242K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02586	−0.566%	$582K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02587	−0.534%	$69K	$480K	50x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02602	+0.041%	$389K	$535K	10x	as long as short
SoDEX MON-USDshort	+0.0100%	1h	0.02593	−0.304%	$5K	$6K	5x
Extended MON-USD	+0.0104%	1h	0.02600	−0.036%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02593	−0.323%	$39K	—	3x	as long as short
Kraken Futures PF_MONUSD	+0.0172%	1h	0.02597	−0.169%	$268K	$67K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02594	−0.258%	$9K	—	50x	as long as short
KuCoin MONUSDTM	+0.0324%	4h	0.02596	−0.188%	$3.2M	$747K	75x	as long as short
Backpack MON_USDC_PERP	+0.0423%	1h	0.02596	−0.200%	$139K	$137K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0536%	1h	0.02607	+0.223%	$114K	$50K	50x	as long as short