Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.062%

Price spread now: Bybit against BloFin−0.281%92s7-day average −0.110% · you buy dearer than you sell

Net, funding: paid 7d − costs−$99as 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−$710.714% of the position

Long on BloFin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.272%−$27 on $10k

Price spread, last 4 days (all we have)−0.655%−$66 · spread now −0.281%, 7d avg −0.110%

Together, before fees−0.927%−$93 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Bybit is 0.172% cheaper against BloFin than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of −0.110%). Swap the legs. The two prices were read 92 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	BloFin MON-USDT	0.02561	0.0340	pay 0.0170% / 4h	2h 59m	$1.4M	$404K	75x
Short	Bybit MONUSDT	0.02554	0.0100	get 0.0100% / 8h	6h 59m	$21.3M	$13.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against BloFin. 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 BloFinbpFee BybitbpOrdersPrice spread, now −0.281%Rate

Funding earned: −$50.4
Price spread: −0.281% → −0.110%: −$17.16
Slippage, 4 orders: −$48.45
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$139.01
Costs to cover: 0.714%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; Bybit: live order book, 4 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 BloFin live order book, 3 min ago	7.82 bp	13.8 bp −$14	26.5 bp −$265	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	5.87 bp	18.8 bp −$19	72.7 bp −$727	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	−0.0143%	1h	0.02559	−0.059%	$114K	$152K	10x	as long as short
Injective MON/USDC PERP	−0.0089%	1h	0.02505	−2.187%	$5K	$108	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02558	−0.133%	$14K	$346K	5x	as long as short
Lighter MON	+0.0096%	1h	0.02557	−0.156%	$833K	$758K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02555	−0.244%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02560	−0.021%	$393K	$577K	10x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02557	−0.169%	$101K	$202K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02557	−0.144%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02555	−0.219%	$142K	$89K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02556	−0.188%	$24.6M	$26.8M	75x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit MONUSDTshort	+0.0100%	8h	0.02554	−0.281%	$21.3M	$13.4M	50x
OKX MON-USDT-SWAP	+0.0100%	4h	0.02553	−0.312%	$4.3M	$6.1M	50x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02558	−0.117%	$1.0M	$1.1M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02557	−0.156%	$2.9M	$762K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02556	−0.195%	$2.8M	$2.2M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02553	−0.331%	$759K	$376K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02562	+0.037%	$42K	$251K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02559	−0.078%	$580K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02560	−0.039%	$69K	$545K	50x	as long as short
Orderly PERP_MON_USDC	+0.0100%	4h	0.02557	−0.156%	$16K	$36K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02559	−0.078%	$5K	$6K	5x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02542	−0.751%	$104K	−$0	10x	as long as short
Extended MON-USD	+0.0104%	1h	0.02561	+0.018%	$61K	$329K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02558	−0.117%	$39K	—	3x	as long as short
01 Exchange MONUSD	+0.0184%	1h	0.02560	−0.055%	$6K	$3K	5x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0231% / S −0.0246%	1h	0.02555	−0.254%	$7K	—	50x	as long as short
Hyperliquid MON	+0.0282%	1h	0.02559	−0.074%	$34.5M	$6.5M	5x	as long as short
BloFin MON-USDTlong	+0.0340%	4h	0.02561	long leg	$1.4M	$404K	75x
Deribit MON_USDC-PERPETUAL	+0.0375%	1h	0.02560	−0.039%	$73K	$135K	25x	as long as short
Perpl MON	+0.0447%	43m	0.02559	−0.090%	$119K	$2.1M	10x	as long as short
Aftermath Perps MONUSD	+0.0631%	1h	0.02557	−0.153%	$4K	$97K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0744%	1h	0.02575	+0.551%	$114K	$53K	50x	as long as short
Kraken Futures PF_MONUSD	+0.0781%	1h	0.02562	+0.053%	$275K	$118K	10x	as long as short