Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.005%

Price spread now: Variational Omni against Nado−0.389%7-day average −0.261% · you buy dearer than you sell

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

Long on Nado Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.034%−$3 on $10k

Price spread, last 3 days (all we have)+0.228%+$23 · spread now −0.389%, 7d avg −0.261%

Together, before fees+0.194%+ Points / potential airdropNado: Active · Variational Omni: Active · farm board+$19 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 0.128% cheaper against Nado than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of −0.261%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado MON-PERP	0.02590	0.0100	pay 0.0012% / 1h	55m 23s	$347K	$535K	10x
Short	Variational Omni MON	0.02579	0.0100	get 0.0100% / 8h	2h 55m	$775K	$403K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Nado. 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 NadobpFee Variational OmnibpOrdersPrice spread, now −0.389%Rate

Funding earned: $0
Price spread: −0.389% → −0.261%: −$12.82
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$19.82
Costs to cover: 0.070%
Break-even: 50852461005307.6 days

Slippage unknown: Nado: live order book, 32 min ago; Variational Omni: RFQ quote, 33 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 Nado live order book, 32 min ago	1.75 bp	9.6 bp −$10	1148.4 bp −$11.5K	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 33 min ago	9.70 bp	doesn't fit	141.6 bp −$1,416	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	0.02581	−0.330%	$6K	$106	5.5x	as long as short
01 Exchange MONUSD	−0.0424%	1h	0.02583	−0.272%	$6K	$1K	5x	as long as short
Phoenix MON	0.0000%	1h	0.02586	−0.145%	$13K	$384K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02585	−0.172%	$64K	$103K	25x	as long as short
Bybit MONUSDT	+0.0002%	8h	0.02585	−0.176%	$21.6M	$11.8M	50x	as long as short
Orderly PERP_MON_USDC	+0.0093%	4h	0.02587	−0.099%	$17K	$64K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02586	−0.137%	$847K	$753K	10x	as long as short
Paradex MON-USD-PERP	+0.0099%	8h	0.02584	−0.195%	$8K	$42	5x	as long as short
Nado MON-PERPlong	+0.0100%	1h	0.02590	long leg	$347K	$535K	10x
Hyperliquid MON	+0.0100%	1h	0.02589	−0.021%	$34.9M	$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	0.02585	−0.176%	$108K	$233K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02585	−0.176%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02586	−0.137%	$143K	$108K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02586	−0.128%	$24.6M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02586	−0.137%	$4.4M	$6.1M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02610	+0.790%	$110K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02586	−0.137%	$1.0M	$925K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02587	−0.099%	$2.7M	$1.8M	25x	as long as short
Variational Omni MONshort	+0.0100%	8h	0.02579	−0.389%	$775K	$403K	—
edgeX MONUSDC	+0.0100%	4h	0.02589	−0.040%	$48K	$241K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02590	0.000%	$580K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02587	−0.099%	$69K	$482K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02583	−0.253%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02588	−0.053%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02587	−0.087%	$39K	—	3x	as long as short
Backpack MON_USDC_PERP	+0.0108%	1h	0.02584	−0.195%	$136K	$137K	10x	as long as short
Kraken Futures PF_MONUSD	+0.0132%	1h	0.02586	−0.135%	$259K	$60K	10x	as long as short
BloFin MON-USDT	+0.0134%	4h	0.02583	−0.253%	$1.4M	$242K	75x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0313% / S −0.1052%	1h	0.02588	−0.064%	$13K	—	50x	as long as short
KuCoin MONUSDTM	+0.0374%	4h	0.02591	+0.056%	$3.2M	$790K	75x	as long as short
Aftermath Perps MONUSD	+0.0417%	1h	0.02595	+0.217%	$2K	$73K	10x	as long as short
Perpl MON	+0.0447%	43m	0.02588	−0.068%	$145K	$1.8M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0648%	1h	0.02625	+1.380%	$115K	$51K	50x	as long as short