Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.122%

Price spread now: Hyperliquid against Pacifica+0.023%7-day average +0.100% · you sell dearer than you buy

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

Long on Pacifica Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.153%+$15 on $10k

Price spread, last 4 days (all we have)+0.086%+$9 · spread now +0.023%, 7d avg +0.100%

Together, before fees+0.239%+ Points / potential airdropPacifica: Active · Hyperliquid: Season 2 · farm board+$24 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: Hyperliquid is 0.077% cheaper against Pacifica than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.100%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica MON	0.02561	0.0100	pay 0.0013% / 1h	3m 16s	$141K	$104K	3x
Short	Hyperliquid MON	0.02562	0.0100	get 0.0013% / 1h	3m 16s	$34.6M	$7.5M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Pacifica. 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 PacificabpFee HyperliquidbpOrdersPrice spread, now +0.023%Rate

Funding earned: $0
Price spread: +0.023% → +0.100%: −$7.69
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$24.69
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 14 min ago; Hyperliquid: live order book, 10 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 Pacifica live order book, 14 min ago	3.88 bp	18.0 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 10 min ago	0.97 bp	12.1 bp −$12	doesn't fit	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
Bybit MONUSDT	−0.0068%	8h	0.02558	−0.137%	$21.2M	$11.9M	50x	as long as short
Injective MON/USDC PERP	−0.0053%	1h	0.02575	+0.539%	$6K	$109	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02561	+0.012%	$13K	$362K	5x	as long as short
Perpl MON	0.0000%	43m	0.02562	+0.016%	$128K	$1.8M	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02561	−0.023%	$69K	$119K	25x	as long as short
Aftermath Perps MONUSD	+0.0032%	1h	0.02563	+0.068%	$2K	$74K	10x	as long as short
01 Exchange MONUSD	+0.0048%	1h	0.02561	−0.023%	$6K	$1K	5x	as long as short
Orderly PERP_MON_USDC	+0.0066%	4h	0.02559	−0.086%	$17K	$64K	10x	as long as short
Paradex MON-USD-PERP	+0.0089%	8h	0.02560	−0.032%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02562	+0.031%	$855K	$784K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid MONshort	+0.0100%	1h	0.02562	+0.023%	$34.6M	$7.5M	5x
Aster MONUSDT	+0.0100%	4h	0.02561	−0.025%	$108K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02560	−0.060%	$13K	—	5x	as long as short
Pacifica MONlong	+0.0100%	1h	0.02561	long leg	$141K	$104K	3x
Binance MONUSDT	+0.0100%	4h	0.02561	−0.010%	$24.4M	$24.9M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02558	−0.125%	$4.3M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02569	+0.287%	$108K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02560	−0.047%	$991K	$879K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02561	−0.008%	$2.7M	$1.8M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02561	0.000%	$127K	$142K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02553	−0.314%	$770K	$408K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02557	−0.145%	$47K	$244K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02559	−0.086%	$574K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02553	−0.320%	$68K	$482K	50x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02562	+0.033%	$389K	$543K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02560	−0.047%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02562	+0.014%	$51K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02560	−0.047%	$39K	—	3x	as long as short
Kraken Futures PF_MONUSD	+0.0175%	1h	0.02564	+0.107%	$269K	$78K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0598%	1h	0.02560	−0.062%	$8K	—	50x	as long as short
KuCoin MONUSDTM	+0.0272%	4h	0.02563	+0.070%	$3.0M	$707K	75x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02555	−0.242%	$1.4M	$305K	75x	as long as short
Coinbase International MON-PERP-INTX	+0.0536%	1h	0.02565	+0.141%	$113K	$50K	50x	as long as short