Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0198%/8h= −21.6% APRpaid last 24h −0.078%

Price spread now: Bybit against KuCoin−0.230%7-day average −0.139% · you buy dearer than you sell

Net, funding: paid 7d − costs−$133as in the Funding arb table

Net, price: spread back to 7d avg − costs−$134as in the Price arb table

costs, in and out, $10k−$1251.246% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.088%−$9 on $10k

Price spread, last 7 days+0.230%+$23 · spread now −0.230%, 7d avg −0.139%

Together, before fees+0.142%+$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Bybit is 0.090% cheaper against KuCoin than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.139%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.088% in total (about -4.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MONUSDTM	0.02524	0.0100	pay 0.0050% / 4h	0m 47s	$2.9M	$758K	75x
Short	Bybit MONUSDT	0.02518	−0.0098	pay 0.0098% / 8h	4h 00m	$20.8M	$13.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against KuCoin. 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 KuCoinbpFee BybitbpOrdersPrice spread, now −0.230%Rate

Funding earned: −$41.49
Price spread: −0.230% → −0.139%: −$9.05
Slippage, 4 orders: −$101.56
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$175.09
Costs to cover: 1.246%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; Bybit: live order book, 3 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 KuCoin live order book, 6 min ago	9.93 bp	34.4 bp −$34	884.0 bp −$8,840	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	1.99 bp	18.3 bp −$18	68.5 bp −$685	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	−0.0176%	1h	0.02507	−0.674%	$5K	$114	5.5x	as long as short
01 Exchange MONUSD	−0.0144%	1h	0.02522	−0.087%	$6K	$1K	5x	as long as short
Bybit MONUSDTshort	−0.0098%	8h	0.02518	−0.230%	$20.8M	$13.3M	50x
Backpack MON_USDC_PERP	−0.0087%	1h	0.02522	−0.075%	$114K	$151K	10x	as long as short
Phoenix MON	0.0000%	1h	0.02517	−0.289%	$12K	$359K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02520	−0.174%	$74K	$136K	25x	as long as short
Orderly PERP_MON_USDC	+0.0072%	4h	0.02520	−0.158%	$16K	$34K	10x	as long as short
Paradex MON-USD-PERP	+0.0095%	8h	0.02519	−0.188%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02521	−0.119%	$849K	$749K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02522	−0.075%	$34.0M	$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	0.02521	−0.136%	$101K	$222K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02520	−0.168%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02521	−0.123%	$139K	$93K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02519	−0.181%	$24.0M	$26.9M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02518	−0.238%	$4.2M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02510	−0.555%	$103K	$5K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02521	−0.119%	$945K	$994K	50x	as long as short
KuCoin MONUSDTMlong	+0.0100%	4h	0.02524	long leg	$2.9M	$758K	75x
Bitget MONUSDT	+0.0100%	4h	0.02522	−0.079%	$2.7M	$2.2M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02519	−0.216%	$745K	$410K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02516	−0.302%	$41K	$251K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02519	−0.201%	$564K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02517	−0.277%	$68K	$512K	50x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02522	−0.067%	$426K	$578K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02519	−0.198%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02522	−0.062%	$49K	$519K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02518	−0.218%	$38K	—	3x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02519	−0.186%	$9K	—	50x	as long as short
Aftermath Perps MONUSD	+0.0272%	1h	0.02516	−0.302%	$2K	$74K	10x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02516	−0.317%	$1.3M	$339K	75x	as long as short
Coinbase International MON-PERP-INTX	+0.0408%	1h	0.02518	−0.234%	$110K	$57K	50x	as long as short
Perpl MON	+0.0447%	43m	0.02522	−0.087%	$114K	$2.3M	10x	as long as short
Kraken Futures PF_MONUSD	+0.0540%	1h	0.02522	−0.066%	$271K	$115K	10x	as long as short