Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.132%

Price spread now: Backpack against Aster+0.060%7-day average −0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$890.891% of the position

Long on Aster Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.553%+$55 on $10k

Price spread, last 4 days (all we have)−0.239%−$24 · spread now +0.060%, 7d avg −0.007%

Together, before fees+0.314%+ Points / potential airdropAster: Stage 5 · farm board+$31 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: Backpack is 0.067% dearer against Aster than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MONUSDT	0.02570	0.0100	pay 0.0050% / 4h	3h 16m	$107K	$231K	10x
Short	Backpack MON_USDC_PERP	0.02572	0.0100	get 0.0013% / 1h	16m 55s	$130K	$141K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Aster. 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 AsterbpFee BackpackbpOrdersPrice spread, now +0.060%Rate

Funding earned: $0
Price spread: +0.060% → −0.007%: $6.71
Slippage, 4 orders: −$71.08
Fee Aster: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$82.37
Costs to cover: 0.891%
Break-even: never at this rate

Slippage from Aster: live order book, 55 min ago; Backpack: live order book, 56 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 Aster live order book, 55 min ago	15.66 bp	36.4 bp −$36	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 56 min ago	0.19 bp	11.8 bp −$12	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	0.02576	+0.216%	$6K	$107	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02563	−0.294%	$13K	$351K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02570	+0.002%	$69K	$119K	25x	as long as short
01 Exchange MONUSD	+0.0016%	1h	0.02569	−0.053%	$6K	$1K	5x	as long as short
Bybit MONUSDT	+0.0036%	8h	0.02570	−0.018%	$21.4M	$12.1M	50x	as long as short
Orderly PERP_MON_USDC	+0.0062%	4h	0.02569	−0.057%	$17K	$59K	10x	as long as short
Paradex MON-USD-PERP	+0.0091%	8h	0.02570	−0.028%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02571	+0.021%	$856K	$755K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02575	+0.169%	$396K	$526K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02574	+0.119%	$34.9M	$7.4M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster MONUSDTlong	+0.0100%	4h	0.02570	long leg	$107K	$231K	10x
dYdX MON-USD	+0.0100%	1h	0.02571	+0.005%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02573	+0.091%	$142K	$103K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02571	+0.034%	$24.6M	$25.3M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02570	−0.018%	$4.3M	$5.8M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02560	−0.390%	$106K	$4K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02571	+0.021%	$973K	$919K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02571	+0.021%	$2.8M	$1.9M	25x	as long as short
Backpack MON_USDC_PERPshort	+0.0100%	1h	0.02572	+0.060%	$130K	$141K	10x
Variational Omni MON	+0.0100%	8h	0.02576	+0.219%	$775K	$411K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02576	+0.202%	$44K	$248K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02578	+0.294%	$576K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02580	+0.371%	$69K	$487K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02569	−0.057%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02574	+0.128%	$49K	$520K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02570	−0.018%	$39K	—	3x	as long as short
KuCoin MONUSDTM	+0.0134%	4h	0.02572	+0.060%	$3.0M	$719K	75x	as long as short
Aftermath Perps MONUSD	+0.0193%	1h	0.02576	+0.234%	$4K	$74K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02570	−0.029%	$8K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02560	−0.407%	$1.4M	$305K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02574	+0.146%	$129K	$2.1M	10x	as long as short
Kraken Futures PF_MONUSD	+0.0464%	1h	0.02574	+0.126%	$270K	$78K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0808%	1h	0.02577	+0.266%	$113K	$51K	50x	as long as short