Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0196%/8h= −21.4% APRpaid last 24h −0.196%

Price spread now: Orderly against Aftermath Perps−0.139%7-day average — · you buy dearer than you sell

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

Long on Aftermath Perps Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Orderly is 0.139% cheaper against Aftermath Perps than usual: you would sell low and buy high (−$14 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps MONUSD	0.02504	0.0267	pay 0.0033% / 1h	40m 54s	$2K	$74K	10x
Short	Orderly PERP_MON_USDC	0.02501	0.0071	get 0.0035% / 4h	40m 54s	$16K	$41K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Aftermath Perps. 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 Aftermath PerpsbpFee OrderlybpOrdersPrice spread, now −0.139%Rate

Funding earned: −$41.1
Price spread: −0.139% → 0.000%: −$13.91
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$70.01
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Aftermath Perps: no order-book sample; Orderly: 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 Aftermath Perps no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Aftermath Perps and Orderly: 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
01 Exchange MONUSD	−0.0440%	1h	0.02499	−0.227%	$6K	$1K	5x	as long as short
Backpack MON_USDC_PERP	−0.0307%	1h	0.02503	−0.075%	$112K	$151K	10x	as long as short
Injective MON/USDC PERP	−0.0176%	1h	0.02517	+0.500%	$5K	$109	5.5x	as long as short
Bybit MONUSDT	−0.0173%	8h	0.02500	−0.179%	$20.5M	$13.2M	50x	as long as short
Deribit MON_USDC-PERPETUAL	−0.0150%	1h	0.02501	−0.135%	$74K	$135K	25x	as long as short
Phoenix MON	0.0000%	1h	0.02499	−0.219%	$12K	$359K	5x	as long as short
Perpl MON	0.0000%	43m	0.02502	−0.111%	$107K	$2.3M	10x	as long as short
Orderly PERP_MON_USDCshort	+0.0071%	4h	0.02501	−0.139%	$16K	$41K	10x
Variational Omni MON	+0.0079%	8h	0.02498	−0.277%	$740K	$407K	—	as long as short
Paradex MON-USD-PERP	+0.0088%	8h	0.02499	−0.213%	$8K	$42	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MON	+0.0096%	1h	0.02501	−0.139%	$842K	$747K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02502	−0.090%	$429K	$560K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02503	−0.043%	$33.8M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02502	−0.080%	$100K	$222K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02502	−0.089%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02500	−0.179%	$138K	$93K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02502	−0.099%	$23.8M	$26.7M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02500	−0.179%	$4.2M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02495	−0.368%	$102K	$5K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02502	−0.099%	$948K	$983K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02503	−0.059%	$2.8M	$752K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02504	−0.019%	$2.7M	$2.1M	25x	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02500	−0.190%	$41K	$249K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02501	−0.158%	$559K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02501	−0.139%	$67K	$507K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02500	−0.179%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02504	−0.004%	$48K	$521K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02501	−0.155%	$38K	—	3x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02501	−0.123%	$9K	—	50x	as long as short
Aftermath Perps MONUSDlong	+0.0267%	1h	0.02504	long leg	$2K	$74K	10x
BloFin MON-USDT	+0.0340%	4h	0.02499	−0.219%	$1.3M	$337K	75x	as long as short
Coinbase International MON-PERP-INTX	+0.0408%	1h	0.02514	+0.360%	$110K	$57K	50x	as long as short
Kraken Futures PF_MONUSD	+0.0544%	1h	0.02504	−0.020%	$269K	$116K	10x	as long as short