Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0229%/8h= −25.1% APRpaid last 24h −0.013%

Price spread now: Bybit against OKX+0.008%7-day average −0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$750.745% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.084%−$8 on $10k

Price spread, last 7 days+0.014%+$1 · spread now +0.008%, 7d avg −0.042%

Together, before fees−0.070%−$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.050% dearer against OKX than usual: you sell high and buy low (spread +0.008% now, against its 7-day average of −0.042%): +$5 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 17 hours. At the pace of the last 7 days (−0.084% in total) that is about 4.2 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.084% in total (about -4.4% 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	OKX MON-USDT-SWAP	0.02513	0.0100	pay 0.0050% / 4h	53m 38s	$4.2M	$5.9M	50x
Short	Bybit MONUSDT	0.02513	−0.0129	pay 0.0129% / 8h	4h 53m	$20.7M	$13.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against OKX. 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 OKXbpFee BybitbpOrdersPrice spread, now +0.008%Rate

Funding earned: −$48.14
Price spread: +0.008% → −0.042%: $5
Slippage, 4 orders: −$53.54
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$117.69
Costs to cover: 0.745%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Bybit: live order book, 5 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 OKX live order book, 4 min ago	1.99 bp	16.4 bp −$16	82.2 bp −$822	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	3.98 bp	19.9 bp −$20	56.5 bp −$565	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
Phoenix MON	−0.0316%	1h	0.02517	+0.159%	$12K	$359K	5x	as long as short
Backpack MON_USDC_PERP	−0.0297%	1h	0.02519	+0.259%	$111K	$151K	10x	as long as short
01 Exchange MONUSD	−0.0224%	1h	0.02513	+0.012%	$6K	$1K	5x	as long as short
Injective MON/USDC PERP	−0.0176%	1h	0.02517	+0.159%	$5K	$109	5.5x	as long as short
Bybit MONUSDTshort	−0.0129%	8h	0.02513	+0.008%	$20.7M	$13.2M	50x
Deribit MON_USDC-PERPETUAL	−0.0028%	1h	0.02517	+0.179%	$68K	$126K	25x	as long as short
Perpl MON	0.0000%	43m	0.02519	+0.251%	$108K	$2.3M	10x	as long as short
Orderly PERP_MON_USDC	+0.0082%	4h	0.02518	+0.199%	$16K	$41K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02517	+0.159%	$839K	$735K	10x	as long as short
Paradex MON-USD-PERP	+0.0099%	8h	0.02514	+0.041%	$8K	$42	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado MON-PERP	+0.0100%	1h	0.02522	+0.346%	$411K	$543K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02517	+0.159%	$34.0M	$7.4M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02520	+0.260%	$101K	$222K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02518	+0.210%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02516	+0.123%	$139K	$92K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02515	+0.072%	$23.9M	$26.6M	75x	as long as short
OKX MON-USDT-SWAPlong	+0.0100%	4h	0.02513	long leg	$4.2M	$5.9M	50x
Bulk MON-USD	+0.0100%	1h	0.02515	+0.067%	$103K	$5K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02517	+0.159%	$952K	$968K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02520	+0.279%	$2.8M	$746K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02517	+0.159%	$2.7M	$2.1M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02521	+0.322%	$748K	$405K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02511	−0.066%	$41K	$249K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02519	+0.219%	$563K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02517	+0.159%	$68K	$505K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02517	+0.159%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02518	+0.186%	$52K	$517K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02517	+0.167%	$38K	—	3x	as long as short
Aftermath Perps MONUSD	+0.0257%	1h	0.02520	+0.293%	$2K	$74K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02519	+0.223%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02518	+0.199%	$1.3M	$326K	75x	as long as short
Coinbase International MON-PERP-INTX	+0.0408%	1h	0.02534	+0.836%	$112K	$56K	50x	as long as short
Kraken Futures PF_MONUSD	+0.0541%	1h	0.02520	+0.271%	$268K	$113K	10x	as long as short