Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0148%/8h= −16.2% APRpaid last 24h −0.057%

Price spread now: Variational Omni against KuCoin−0.228%7-day average −0.199% · you buy dearer than you sell

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

Long on KuCoin Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.090%−$9 on $10k

Price spread, last 3 days (all we have)+0.036%+$4 · spread now −0.228%, 7d avg −0.199%

Together, before fees−0.054%+ Points / potential airdropVariational Omni: Active · farm board−$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Variational Omni is 0.030% cheaper against KuCoin than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.199%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MONUSDTM	0.02560	0.0248	pay 0.0124% / 4h	5m 00s	$3.0M	$718K	75x
Short	Variational Omni MON	0.02554	0.0100	get 0.0100% / 8h	5m 00s	$772K	$407K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against KuCoin. 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 KuCoinbpFee Variational OmnibpOrdersPrice spread, now −0.228%Rate

Funding earned: −$31.08
Price spread: −0.228% → −0.199%: −$2.98
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$46.06
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 2 min ago; Variational Omni: RFQ quote, 9 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 KuCoin live order book, 2 min ago	9.76 bp	43.8 bp −$44	686.7 bp −$6,867	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 9 min ago	13.71 bp	doesn't fit	123.4 bp −$1,234	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	−0.0121%	1h	0.02559	−0.039%	$6K	$109	5.5x	as long as short
01 Exchange MONUSD	−0.0096%	1h	0.02555	−0.188%	$6K	$1K	5x	as long as short
Bybit MONUSDT	−0.0033%	8h	0.02558	−0.078%	$21.1M	$12.1M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02558	−0.098%	$13K	$360K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02557	−0.113%	$69K	$119K	25x	as long as short
Orderly PERP_MON_USDC	+0.0070%	4h	0.02555	−0.195%	$17K	$64K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02557	−0.117%	$849K	$794K	10x	as long as short
Paradex MON-USD-PERP	+0.0097%	8h	0.02555	−0.184%	$8K	$42	5x	as long as short
Aftermath Perps MONUSD	+0.0100%	1h	0.02558	−0.073%	$3K	$75K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02560	−0.006%	$390K	$541K	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	0.02559	−0.059%	$34.6M	$7.6M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02558	−0.061%	$106K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02557	−0.105%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02558	−0.086%	$141K	$104K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02558	−0.061%	$24.4M	$25.5M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02559	−0.039%	$4.3M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02555	−0.197%	$107K	−$0	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02557	−0.117%	$976K	$913K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02559	−0.039%	$2.7M	$1.9M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02556	−0.141%	$127K	$141K	10x	as long as short
Variational Omni MONshort	+0.0100%	8h	0.02554	−0.228%	$772K	$407K	—
edgeX MONUSDC	+0.0100%	4h	0.02555	−0.194%	$47K	$244K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02560	−0.001%	$580K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02557	−0.117%	$68K	$482K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02556	−0.156%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02562	+0.092%	$51K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02556	−0.156%	$39K	—	3x	as long as short
KuCoin MONUSDTMlong	+0.0248%	4h	0.02560	long leg	$3.0M	$718K	75x
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0598%	1h	0.02557	−0.121%	$8K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02554	−0.234%	$1.3M	$306K	75x	as long as short
Kraken Futures PF_MONUSD	+0.0422%	1h	0.02560	−0.004%	$269K	$78K	10x	as long as short
Perpl MON	+0.0447%	43m	0.02558	−0.090%	$125K	$1.8M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0480%	1h	0.02609	+1.910%	$115K	$50K	50x	as long as short