Funding arb · Price arb /

MON

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.118%

Price spread now: Hyperliquid against ApeX Omni−0.148%105s7-day average +0.108% · you buy dearer than you sell

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

Long on ApeX Omni Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.205%+$21 on $10k

Price spread, last 3 days (all we have)+0.155%+$16 · spread now −0.148%, 7d avg +0.108%

Together, before fees+0.360%+ Points / potential airdropHyperliquid: Season 2 · farm board+$36 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: Hyperliquid is 0.256% cheaper against ApeX Omni than usual: you would sell low and buy high, −$26 on $10k if it goes back to its 7-day average of +0.108%. The two prices were read 105 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	0.02565	0.0100	pay 0.0013% / 1h	57m 48s	$68K	$482K	50x
Short	Hyperliquid MON	0.02561	0.0100	get 0.0013% / 1h	57m 48s	$34.7M	$7.7M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against ApeX Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 HyperliquidbpOrdersPrice spread, now −0.148%Rate

Funding earned: $0
Price spread: −0.148% → +0.108%: −$25.64
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$44.64
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 15 min ago; Hyperliquid: live order book, 5 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 ApeX Omni live order book, 15 min ago	9.78 bp	18.9 bp −$19	113.3 bp −$1,133	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 5 min ago	1.36 bp	11.4 bp −$11	doesn't fit	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
Injective MON/USDC PERP	−0.0444%	1h	0.02559	−0.234%	$6K	$104	5.5x	as long as short
01 Exchange MONUSD	−0.0008%	1h	0.02562	−0.121%	$6K	$1K	5x	as long as short
Phoenix MON	0.0000%	1h	0.02565	−0.012%	$13K	$351K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02559	−0.214%	$69K	$119K	25x	as long as short
Orderly PERP_MON_USDC	+0.0070%	4h	0.02559	−0.234%	$17K	$64K	10x	as long as short
Bybit MONUSDT	+0.0076%	8h	0.02555	−0.382%	$21.1M	$12.1M	50x	as long as short
Lighter MON	+0.0096%	1h	0.02559	−0.234%	$850K	$739K	10x	as long as short
Paradex MON-USD-PERP	+0.0097%	8h	0.02557	−0.324%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02565	−0.009%	$391K	$541K	10x	as long as short
Hyperliquid MONshort	+0.0100%	1h	0.02561	−0.148%	$34.7M	$7.7M	5x

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster MONUSDT	+0.0100%	4h	0.02560	−0.200%	$106K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02561	−0.149%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02559	−0.238%	$141K	$104K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02558	−0.272%	$24.5M	$25.5M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02556	−0.351%	$4.3M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02560	−0.195%	$107K	−$0	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02560	−0.195%	$977K	$888K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02561	−0.156%	$2.7M	$1.9M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02560	−0.207%	$127K	$141K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02560	−0.208%	$773K	$407K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02561	−0.137%	$47K	$245K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02565	0.000%	$581K	$1.5M	10x	as long as short
ApeX Omni MONUSDTlong	+0.0100%	1h	0.02565	long leg	$68K	$482K	50x
SoDEX MON-USD	+0.0100%	1h	0.02559	−0.234%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02562	−0.129%	$51K	$404K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02560	−0.211%	$39K	—	3x	as long as short
Aftermath Perps MONUSD	+0.0108%	1h	0.02562	−0.126%	$3K	$75K	10x	as long as short
KuCoin MONUSDTM	+0.0240%	4h	0.02566	+0.039%	$3.0M	$719K	75x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0598%	1h	0.02559	−0.222%	$8K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02562	−0.117%	$1.3M	$307K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02562	−0.133%	$124K	$1.8M	10x	as long as short
Kraken Futures PF_MONUSD	+0.0466%	1h	0.02564	−0.031%	$269K	$78K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0808%	1h	0.02609	+1.712%	$115K	$50K	50x	as long as short