Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.013%

Price spread now: BloFin against ApeX Omni+0.078%103s7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$850.853% of the position

Long on ApeX Omni Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.221%+$22 on $10k

Price spread, last 3 days (all we have)+0.432%+$43 · spread now +0.078%, 7d avg +0.020%

Together, before fees+0.653%+$65 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BloFin is 0.058% dearer against ApeX Omni than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.020%. The two prices were read 103 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	ApeX Omni MONUSDT	0.02553	0.0100	pay 0.0013% / 1h	3m 30s	$68K	$482K	50x
Short	BloFin MON-USDT	0.02555	0.0340	get 0.0170% / 4h	1h 03m	$1.4M	$305K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against ApeX 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 ApeX OmnibpFee BloFinbpOrdersPrice spread, now +0.078%Rate

Funding earned: $50.4
Price spread: +0.078% → +0.020%: $5.82
Slippage, 4 orders: −$63.35
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$29.13
Costs to cover: 0.853%
Break-even: 11.0 days

Slippage from ApeX Omni: live order book, 14 min ago; BloFin: live order book, 9 min ago.

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 ApeX Omni live order book, 14 min ago	13.59 bp	22.5 bp −$22	124.9 bp −$1,249	doesn't fit	doesn't fit
Sell BloFin live order book, 9 min ago	5.84 bp	25.1 bp −$25	47.8 bp −$478	132.7 bp −$13.3K	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	0.02557	+0.161%	$21.1M	$11.9M	50x	as long as short
Injective MON/USDC PERP	−0.0053%	1h	0.02575	+0.862%	$6K	$109	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02561	+0.333%	$13K	$362K	5x	as long as short
Perpl MON	0.0000%	43m	0.02562	+0.337%	$128K	$1.8M	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02562	+0.368%	$69K	$119K	25x	as long as short
Aftermath Perps MONUSD	+0.0034%	1h	0.02563	+0.409%	$2K	$74K	10x	as long as short
01 Exchange MONUSD	+0.0048%	1h	0.02561	+0.298%	$6K	$1K	5x	as long as short
Orderly PERP_MON_USDC	+0.0066%	4h	0.02560	+0.274%	$17K	$64K	10x	as long as short
Paradex MON-USD-PERP	+0.0089%	8h	0.02560	+0.289%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02562	+0.353%	$855K	$784K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid MON	+0.0100%	1h	0.02562	+0.345%	$34.6M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02561	+0.302%	$108K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02560	+0.261%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02561	+0.321%	$141K	$104K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02561	+0.296%	$24.4M	$24.9M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02558	+0.196%	$4.3M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02569	+0.610%	$108K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02560	+0.274%	$991K	$879K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02561	+0.313%	$2.7M	$1.8M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02561	+0.321%	$127K	$142K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02553	+0.006%	$770K	$408K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02557	+0.176%	$47K	$244K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02559	+0.235%	$574K	$1.5M	10x	as long as short
ApeX Omni MONUSDTlong	+0.0100%	1h	0.02553	long leg	$68K	$482K	50x
Nado MON-PERP	+0.0100%	1h	0.02562	+0.354%	$389K	$543K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02562	+0.353%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02563	+0.402%	$51K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02561	+0.333%	$39K	—	3x	as long as short
Kraken Futures PF_MONUSD	+0.0175%	1h	0.02566	+0.505%	$269K	$78K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0598%	1h	0.02562	+0.341%	$8K	—	50x	as long as short
KuCoin MONUSDTM	+0.0272%	4h	0.02563	+0.392%	$3.0M	$707K	75x	as long as short
BloFin MON-USDTshort	+0.0340%	4h	0.02555	+0.078%	$1.4M	$305K	75x
Coinbase International MON-PERP-INTX	+0.0536%	1h	0.02565	+0.462%	$113K	$50K	50x	as long as short