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% APRpaid last 24h 0.000%

Price spread now: Variational Omni against Pacifica−0.260%7-day average −0.126% · you buy dearer than you sell

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

Long on Pacifica Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.036%−$4 on $10k

Price spread, last 3 days (all we have)+0.233%+$23 · spread now −0.260%, 7d avg −0.126%

Together, before fees+0.197%+ Points / potential airdropPacifica: Active · Variational Omni: Active · farm board+$20 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 0.133% cheaper against Pacifica than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of −0.126%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica MON	0.02560	0.0100	pay 0.0013% / 1h	1m 58s	$141K	$104K	3x
Short	Variational Omni MON	0.02553	0.0100	get 0.0100% / 8h	1h 01m	$770K	$408K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Pacifica. 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 PacificabpFee Variational OmnibpOrdersPrice spread, now −0.260%Rate

Funding earned: $0
Price spread: −0.260% → −0.126%: −$13.35
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$21.35
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 16 min ago; Variational Omni: RFQ quote, 17 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, 16 min ago	3.88 bp	18.0 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 17 min ago	9.72 bp	doesn't fit	138.0 bp −$1,380	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	0.02554	−0.227%	$21.1M	$11.9M	50x	as long as short
Injective MON/USDC PERP	−0.0053%	1h	0.02575	+0.594%	$6K	$109	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02561	+0.066%	$13K	$362K	5x	as long as short
Perpl MON	0.0000%	43m	0.02560	−0.008%	$128K	$1.8M	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02559	−0.047%	$69K	$119K	25x	as long as short
Aftermath Perps MONUSD	+0.0036%	1h	0.02562	+0.093%	$2K	$74K	10x	as long as short
01 Exchange MONUSD	+0.0048%	1h	0.02559	−0.035%	$6K	$1K	5x	as long as short
Orderly PERP_MON_USDC	+0.0066%	4h	0.02558	−0.070%	$17K	$64K	10x	as long as short
Paradex MON-USD-PERP	+0.0089%	8h	0.02558	−0.078%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02557	−0.109%	$853K	$784K	10x	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	0.02560	+0.002%	$389K	$543K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02559	−0.039%	$34.6M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02559	−0.041%	$108K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02560	−0.005%	$13K	—	5x	as long as short
Pacifica MONlong	+0.0100%	1h	0.02560	long leg	$141K	$104K	3x
Binance MONUSDT	+0.0100%	4h	0.02557	−0.109%	$24.4M	$24.9M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02555	−0.188%	$4.3M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02569	+0.342%	$108K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02557	−0.109%	$989K	$879K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02558	−0.070%	$2.7M	$1.8M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02557	−0.113%	$127K	$142K	10x	as long as short
Variational Omni MONshort	+0.0100%	8h	0.02553	−0.260%	$770K	$408K	—
edgeX MONUSDC	+0.0100%	4h	0.02557	−0.090%	$47K	$244K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02559	−0.031%	$574K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02553	−0.266%	$68K	$482K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02558	−0.070%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02559	−0.049%	$51K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02557	−0.109%	$39K	—	3x	as long as short
Kraken Futures PF_MONUSD	+0.0175%	1h	0.02562	+0.103%	$269K	$78K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0598%	1h	0.02558	−0.066%	$8K	—	50x	as long as short
KuCoin MONUSDTM	+0.0268%	4h	0.02561	+0.047%	$3.0M	$706K	75x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02563	+0.125%	$1.4M	$306K	75x	as long as short
Coinbase International MON-PERP-INTX	+0.0536%	1h	0.02565	+0.195%	$113K	$50K	50x	as long as short