Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0365%/8h= −39.9% APRpaid last 24h −0.179%

Price spread now: Variational Omni against Aftermath Perps+0.022%7-day average — · you sell dearer than you buy

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

Long on Aftermath Perps 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

The price spread pays, funding is against you. Variational Omni is 0.022% dearer against Aftermath Perps than usual: you sell high and buy low (spread +0.022% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 5 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps MONUSD	0.02508	0.0465	pay 0.0058% / 1h	54m 52s	$5K	$103K	10x
Short	Variational Omni MON	0.02508	0.0100	get 0.0100% / 8h	7h 54m	$745K	$408K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.022%Rate

Funding earned: −$76.56
Price spread: +0.022% → 0.000%: $2.22
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$83.34
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Aftermath Perps: live order book, 44 min ago; Variational Omni: RFQ quote, 44 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 Aftermath Perps live order book, 44 min ago	7.18 bp	21.4 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 44 min ago	13.96 bp	doesn't fit	129.7 bp −$1,297	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
Backpack MON_USDC_PERP	−0.0320%	1h	0.02508	+0.035%	$109K	$157K	10x	as long as short
Injective MON/USDC PERP	−0.0089%	1h	0.02505	−0.101%	$5K	$108	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02506	−0.053%	$13K	$346K	5x	as long as short
Perpl MON	0.0000%	43m	0.02505	−0.113%	$119K	$2.2M	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02505	−0.101%	$73K	$137K	25x	as long as short
Lighter MON	+0.0096%	1h	0.02508	+0.019%	$806K	$765K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02502	−0.204%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02506	−0.065%	$392K	$573K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02510	+0.095%	$33.9M	$7.8M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02511	+0.144%	$99K	$213K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX MON-USD	+0.0100%	1h	0.02509	+0.071%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02505	−0.101%	$139K	$91K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02508	+0.037%	$23.9M	$27.6M	75x	as long as short
Bybit MONUSDT	+0.0100%	8h	0.02507	−0.021%	$20.9M	$13.9M	50x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02507	−0.021%	$4.2M	$6.2M	50x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02510	+0.099%	$939K	$1.0M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02512	+0.178%	$2.9M	$765K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02510	+0.099%	$2.7M	$2.3M	25x	as long as short
Variational Omni MONshort	+0.0100%	8h	0.02508	+0.022%	$745K	$408K	—
edgeX MONUSDC	+0.0100%	4h	0.02509	+0.053%	$41K	$250K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02506	−0.071%	$558K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02505	−0.101%	$68K	$544K	50x	as long as short
Orderly PERP_MON_USDC	+0.0100%	4h	0.02506	−0.061%	$16K	$42K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02505	−0.101%	$5K	$6K	5x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02505	−0.101%	$103K	−$0	10x	as long as short
Extended MON-USD	+0.0104%	1h	0.02513	+0.206%	$50K	$318K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02504	−0.133%	$38K	—	3x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0231% / S −0.0246%	1h	0.02505	−0.113%	$6K	—	50x	as long as short
01 Exchange MONUSD	+0.0240%	1h	0.02504	−0.149%	$6K	$3K	5x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02502	−0.221%	$1.3M	$333K	75x	as long as short
Aftermath Perps MONUSDlong	+0.0465%	1h	0.02508	long leg	$5K	$103K	10x
Coinbase International MON-PERP-INTX	+0.0744%	1h	0.02519	+0.461%	$111K	$54K	50x	as long as short
Kraken Futures PF_MONUSD	+0.0798%	1h	0.02508	+0.032%	$269K	$118K	10x	as long as short