Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0021%/8h= +2.3% APRpaid last 24h +0.009%

Price spread now: Aevo against Orderly−0.048%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. Aevo is 0.048% cheaper against Orderly than usual: you would sell low and buy high (spread −0.048% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 7.5 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_MON_USDC	0.02489	0.0083	pay 0.0041% / 4h	2h 41m	$16K	$48K	10x
Short	Aevo MON-PERP	0.02488	0.0104	get 0.0013% / 1h	41m 10s	$38K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Orderly. 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 OrderlybpFee AevobpOrdersPrice spread, now −0.048%Rate

Funding earned: $4.49
Price spread: −0.048% → 0.000%: −$4.82
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$22.33
Costs to cover: 0.220%
Break-even: 41.8 days

Slippage unknown: Orderly: no order-book sample; Aevo: 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 Orderly no order-book sample	—	—	—	—	—
Sell Aevo no order-book sample	—	—	—	—	—

Orderly and Aevo: 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
Backpack MON_USDC_PERP	−0.0129%	1h	0.02484	−0.189%	$109K	$153K	10x	as long as short
Phoenix MON	0.0000%	1h	0.02492	+0.112%	$12K	$355K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02489	−0.008%	$73K	$136K	25x	as long as short
Bybit MONUSDT	+0.0006%	8h	0.02480	−0.362%	$20.4M	$13.5M	50x	as long as short
Injective MON/USDC PERP	+0.0039%	1h	0.02496	+0.281%	$5K	$111	5.5x	as long as short
01 Exchange MONUSD	+0.0056%	1h	0.02487	−0.068%	$6K	$1K	5x	as long as short
Orderly PERP_MON_USDClong	+0.0083%	4h	0.02489	long leg	$16K	$48K	10x
Lighter MON	+0.0096%	1h	0.02490	+0.040%	$835K	$732K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02489	0.000%	$7K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02491	+0.083%	$405K	$584K	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	0.02484	−0.181%	$33.3M	$7.6M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02485	−0.165%	$99K	$219K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02493	+0.171%	$12K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02491	+0.080%	$138K	$92K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02483	−0.256%	$23.6M	$27.1M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02484	−0.201%	$4.2M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02490	+0.040%	$102K	$1K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02487	−0.080%	$918K	$1.0M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02489	0.000%	$2.9M	$762K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02485	−0.161%	$2.7M	$2.2M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02485	−0.177%	$739K	$405K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02490	+0.021%	$41K	$250K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02495	+0.241%	$562K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02492	+0.121%	$68K	$527K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02487	−0.080%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02489	−0.013%	$47K	$286K	10x	as long as short
Aevo MON-PERPshort	+0.0104%	1h	0.02488	−0.048%	$38K	—	3x
Aftermath Perps MONUSD	+0.0240%	1h	0.02494	+0.187%	$2K	$78K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0259% / S −0.0429%	1h	0.02488	−0.032%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02484	−0.201%	$1.3M	$338K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02490	+0.044%	$114K	$2.2M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0456%	1h	0.02530	+1.647%	$110K	$55K	50x	as long as short
Kraken Futures PF_MONUSD	+0.1022%	1h	0.02491	+0.061%	$268K	$112K	10x	as long as short