Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Variational Omni against Aevo−0.432%48s7-day average — · you buy dearer than you sell

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

Long on Aevo Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.432% cheaper against Aevo than usual: you would sell low and buy high, −$43 on $10k if it goes back to zero (this spread has no 7-day history yet). 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	Aevo MON-PERP	0.02532	0.0104	pay 0.0013% / 1h	52m 43s	$38K	—	3x
Short	Variational Omni MON	0.02521	0.0100	get 0.0100% / 8h	3h 52m	$745K	$410K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Aevo. 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 AevobpFee Variational OmnibpOrdersPrice spread, now −0.432%Rate

Funding earned: −$0.84
Price spread: −0.432% → 0.000%: −$43.21
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$60.05
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Variational Omni: RFQ quote, 1 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 Aevo no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 1 min ago	7.91 bp	doesn't fit	150.3 bp −$1,503	doesn't fit	doesn't fit

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
Injective MON/USDC PERP	−0.0203%	1h	0.02528	−0.158%	$5K	$111	5.5x	as long as short
Bybit MONUSDT	−0.0073%	8h	0.02530	−0.079%	$20.8M	$13.4M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02527	−0.197%	$12K	$358K	5x	as long as short
Orderly PERP_MON_USDC	+0.0072%	4h	0.02532	0.000%	$16K	$34K	10x	as long as short
Paradex MON-USD-PERP	+0.0096%	8h	0.02531	−0.040%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02533	+0.039%	$849K	$732K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02533	+0.051%	$34.1M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02532	−0.018%	$102K	$222K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02532	−0.004%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02531	−0.047%	$140K	$93K	3x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance MONUSDT	+0.0100%	4h	0.02531	−0.041%	$24.1M	$26.9M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02529	−0.118%	$4.2M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02525	−0.276%	$104K	$5K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02531	−0.039%	$950K	$979K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02533	+0.039%	$2.9M	$757K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02532	0.000%	$2.7M	$2.2M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02534	+0.095%	$114K	$151K	10x	as long as short
Variational Omni MONshort	+0.0100%	8h	0.02521	−0.432%	$745K	$410K	—
edgeX MONUSDC	+0.0100%	4h	0.02525	−0.281%	$41K	$250K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02522	−0.399%	$565K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02528	−0.158%	$68K	$513K	50x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02531	−0.055%	$427K	$579K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02532	0.000%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02533	+0.020%	$48K	$519K	10x	as long as short
Aevo MON-PERPlong	+0.0104%	1h	0.02532	long leg	$38K	—	3x
Deribit MON_USDC-PERPETUAL	+0.0145%	1h	0.02533	+0.055%	$74K	$136K	25x	as long as short
01 Exchange MONUSD	+0.0168%	1h	0.02532	0.000%	$6K	$1K	5x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02531	−0.024%	$9K	—	50x	as long as short
Aftermath Perps MONUSD	+0.0281%	1h	0.02523	−0.350%	$2K	$74K	10x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02527	−0.197%	$1.3M	$341K	75x	as long as short
Coinbase International MON-PERP-INTX	+0.0368%	1h	0.02533	+0.059%	$110K	$57K	50x	as long as short
Perpl MON	+0.0447%	43m	0.02532	−0.012%	$115K	$2.3M	10x	as long as short
Kraken Futures PF_MONUSD	+0.0719%	1h	0.02534	+0.098%	$272K	$113K	10x	as long as short