Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:38 UTC+0.0347%/8h= +37.9% APRpaid last 24h −0.023%

Price spread now: Perpl against Pacifica+0.316%7-day average +0.026% · you sell dearer than you buy

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

Long on Pacifica Short on Perpl

What this pair did over the last

the charts below follow

Funding, last 7 days+0.188%+$19 on $10k

Price spread, last 4 days (all we have)+0.095%+$9 · spread now +0.316%, 7d avg +0.026%

Together, before fees+0.283%+ Points / potential airdropPacifica: Active · Perpl: Active · farm board+$28 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Perpl is 0.290% dearer against Pacifica than usual: you sell high and buy low: +$29 more if the spread goes back to its 7-day average of +0.026%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.188% in total (about 9.8% 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	Pacifica MON	0.02530	0.0100	pay 0.0013% / 1h	45m 12s	$140K	$93K	3x
Short	Perpl MON	0.02538	0.0447	get 0.0040% / 43m	33m 12s	$105K	$2.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Perpl 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 PerplbpOrdersPrice spread, now +0.316%Rate

Funding earned: $72.77
Price spread: +0.316% → +0.026%: $28.98
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Net: $79.94
Costs to cover: 0.218%
Break-even: from the start

Slippage unknown: Pacifica: live order book, 17 min ago; Perpl: 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 Pacifica live order book, 17 min ago	5.91 bp	19.6 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell Perpl no order-book sample	—	—	—	—	—

Perpl: 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
Phoenix MON	−0.0316%	1h	0.02530	+0.004%	$13K	$367K	5x	as long as short
Backpack MON_USDC_PERP	−0.0259%	1h	0.02541	+0.451%	$114K	$152K	10x	as long as short
Injective MON/USDC PERP	−0.0253%	1h	0.02531	+0.043%	$5K	$106	5.5x	as long as short
Bybit MONUSDT	−0.0117%	8h	0.02535	+0.202%	$20.8M	$12.9M	50x	as long as short
01 Exchange MONUSD	−0.0104%	1h	0.02536	+0.261%	$6K	$1K	5x	as long as short
Deribit MON_USDC-PERPETUAL	+0.0026%	1h	0.02539	+0.360%	$68K	$125K	25x	as long as short
Orderly PERP_MON_USDC	+0.0076%	4h	0.02537	+0.281%	$16K	$51K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02540	+0.399%	$846K	$738K	10x	as long as short
Paradex MON-USD-PERP	+0.0099%	8h	0.02531	+0.053%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02538	+0.329%	$409K	$539K	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	0.02542	+0.459%	$34.4M	$7.4M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02533	+0.129%	$101K	$229K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02530	+0.012%	$13K	—	5x	as long as short
Pacifica MONlong	+0.0100%	1h	0.02530	long leg	$140K	$93K	3x
Binance MONUSDT	+0.0100%	4h	0.02539	+0.360%	$24.2M	$26.0M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02537	+0.281%	$4.2M	$5.8M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02530	+0.004%	$105K	$4K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02537	+0.281%	$949K	$916K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02533	+0.123%	$2.9M	$742K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02541	+0.439%	$2.7M	$2.0M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02523	−0.270%	$749K	$405K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02525	−0.183%	$43K	$248K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02529	−0.042%	$566K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02529	−0.036%	$68K	$498K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02538	+0.320%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02540	+0.394%	$48K	$518K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02539	+0.352%	$38K	—	3x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02537	+0.293%	$9K	—	50x	as long as short
Aftermath Perps MONUSD	+0.0295%	1h	0.02531	+0.050%	$2K	$74K	10x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02530	+0.004%	$1.3M	$307K	75x	as long as short
Perpl MONshort	+0.0447%	43m	0.02538	+0.316%	$105K	$2.3M	10x
Kraken Futures PF_MONUSD	+0.0490%	1h	0.02540	+0.392%	$268K	$97K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0536%	1h	0.02531	+0.040%	$111K	$52K	50x	as long as short