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: Bulk against Variational Omni+0.603%48s7-day average +0.092% · you sell dearer than you buy

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

Long on Variational Omni Short on Bulk

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)−0.882%−$88 · spread now +0.603%, 7d avg +0.092%

Together, before fees−0.846%+ Points / potential airdropVariational Omni: Active · farm board−$85 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: Bulk is 0.512% dearer against Variational Omni than usual: you sell high and buy low, +$51 on $10k if it goes back to its 7-day average of +0.092%. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MON	0.02553	0.0100	pay 0.0100% / 8h	1h 01m	$770K	$408K	—
Short	Bulk MON-USD	0.02569	0.0100	get 0.0013% / 1h	1m 42s	$108K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Variational Omni. 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 Variational OmnibpFee BulkbpOrdersPrice spread, now +0.603%Rate

Funding earned: $0
Price spread: +0.603% → +0.092%: $51.19
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $44.19
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 17 min ago; Bulk: live order book, 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 Variational Omni RFQ quote, 17 min ago	9.72 bp	doesn't fit	130.2 bp −$1,302	doesn't fit	doesn't fit
Sell Bulk live order book, 17 min ago	19.42 bp	22.9 bp −$23	64.0 bp −$640	161.5 bp −$16.1K	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	+0.029%	$21.1M	$11.9M	50x	as long as short
Injective MON/USDC PERP	−0.0053%	1h	0.02575	+0.856%	$6K	$109	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02561	+0.327%	$13K	$362K	5x	as long as short
Perpl MON	0.0000%	43m	0.02560	+0.252%	$128K	$1.8M	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02559	+0.213%	$69K	$119K	25x	as long as short
Aftermath Perps MONUSD	+0.0036%	1h	0.02562	+0.353%	$2K	$74K	10x	as long as short
01 Exchange MONUSD	+0.0048%	1h	0.02559	+0.225%	$6K	$1K	5x	as long as short
Orderly PERP_MON_USDC	+0.0066%	4h	0.02558	+0.190%	$17K	$64K	10x	as long as short
Paradex MON-USD-PERP	+0.0089%	8h	0.02555	+0.091%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02558	+0.190%	$854K	$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	+0.262%	$389K	$543K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02559	+0.221%	$34.6M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02559	+0.216%	$108K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02560	+0.255%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02558	+0.190%	$141K	$104K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02558	+0.190%	$24.4M	$24.9M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02555	+0.072%	$4.3M	$5.9M	50x	as long as short
Bulk MON-USDshort	+0.0100%	1h	0.02569	+0.603%	$108K	$3K	10x
Gate MON_USDT	+0.0100%	4h	0.02557	+0.151%	$989K	$879K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02558	+0.190%	$2.7M	$1.8M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02557	+0.147%	$127K	$142K	10x	as long as short
Variational Omni MONlong	+0.0100%	8h	0.02553	long leg	$770K	$408K	—
edgeX MONUSDC	+0.0100%	4h	0.02557	+0.170%	$47K	$244K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02559	+0.229%	$574K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02553	−0.006%	$68K	$482K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02558	+0.190%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02559	+0.211%	$51K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02557	+0.151%	$39K	—	3x	as long as short
Kraken Futures PF_MONUSD	+0.0175%	1h	0.02562	+0.363%	$269K	$78K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0598%	1h	0.02558	+0.194%	$8K	—	50x	as long as short
KuCoin MONUSDTM	+0.0260%	4h	0.02560	+0.268%	$3.0M	$706K	75x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02563	+0.386%	$1.4M	$306K	75x	as long as short
Coinbase International MON-PERP-INTX	+0.0536%	1h	0.02565	+0.456%	$113K	$50K	50x	as long as short