Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: ApeX Omni against Bulk−0.423%55s7-day average +0.032% · you buy dearer than you sell

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

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

costs, in and out, $10k−$830.833% of the position

Long on Bulk Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 3 days (all we have)+0.872%+$87 · spread now −0.423%, 7d avg +0.032%

Together, before fees+0.872%+$87 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: ApeX Omni is 0.455% cheaper against Bulk than usual: you would sell low and buy high, −$45 on $10k if it goes back to its 7-day average of +0.032%. The two prices were read 55 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	Bulk MON-USD	0.02600	0.0100	pay 0.0013% / 1h	3m 52s	$109K	$3K	10x
Short	ApeX Omni MONUSDT	0.02589	0.0100	get 0.0013% / 1h	3m 52s	$69K	$479K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bulk. 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 BulkbpFee ApeX OmnibpOrdersPrice spread, now −0.423%Rate

Funding earned: $0
Price spread: −0.423% → +0.032%: −$45.46
Slippage, 4 orders: −$66.34
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$128.81
Costs to cover: 0.833%
Break-even: never at this rate

Slippage from Bulk: live order book, 20 min ago; ApeX Omni: live order book, 19 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 Bulk live order book, 20 min ago	19.27 bp	22.8 bp −$23	43.0 bp −$430	108.7 bp −$10.9K	744.7 bp −$372.4K
Sell ApeX Omni live order book, 19 min ago	9.61 bp	18.0 bp −$18	108.8 bp −$1,088	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	−0.0739%	1h	0.02599	−0.038%	$6K	$110	5.5x	as long as short
Deribit MON_USDC-PERPETUAL	−0.0370%	1h	0.02581	−0.742%	$66K	$114K	25x	as long as short
01 Exchange MONUSD	−0.0336%	1h	0.02571	−1.096%	$6K	$1K	5x	as long as short
Bybit MONUSDT	−0.0027%	8h	0.02578	−0.846%	$21.5M	$11.8M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02591	−0.354%	$13K	$384K	5x	as long as short
Paradex MON-USD-PERP	+0.0069%	8h	0.02579	−0.826%	$8K	$42	5x	as long as short
Orderly PERP_MON_USDC	+0.0077%	4h	0.02579	−0.808%	$17K	$64K	10x	as long as short
Aftermath Perps MONUSD	+0.0081%	1h	0.02589	−0.425%	$2K	$73K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02579	−0.808%	$843K	$763K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02582	−0.703%	$388K	$536K	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	0.02582	−0.700%	$34.8M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02582	−0.676%	$108K	$233K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02583	−0.638%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02580	−0.769%	$142K	$106K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02579	−0.808%	$24.5M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02575	−0.962%	$4.4M	$5.9M	50x	as long as short
Bulk MON-USDlong	+0.0100%	1h	0.02600	long leg	$109K	$3K	10x
Gate MON_USDT	+0.0100%	4h	0.02581	−0.731%	$1.0M	$935K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02582	−0.692%	$2.7M	$1.8M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02579	−0.793%	$778K	$412K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02589	−0.434%	$47K	$242K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02592	−0.296%	$583K	$1.5M	10x	as long as short
ApeX Omni MONUSDTshort	+0.0100%	1h	0.02589	−0.423%	$69K	$479K	50x
SoDEX MON-USD	+0.0100%	1h	0.02578	−0.846%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02582	−0.688%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02578	−0.842%	$39K	—	3x	as long as short
BloFin MON-USDT	+0.0109%	4h	0.02576	−0.923%	$1.4M	$244K	75x	as long as short
Kraken Futures PF_MONUSD	+0.0132%	1h	0.02584	−0.623%	$266K	$67K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02581	−0.715%	$9K	—	50x	as long as short
Backpack MON_USDC_PERP	+0.0270%	1h	0.02581	−0.738%	$138K	$137K	10x	as long as short
KuCoin MONUSDTM	+0.0326%	4h	0.02583	−0.654%	$3.1M	$747K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02580	−0.781%	$144K	$1.8M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0648%	1h	0.02607	+0.258%	$114K	$50K	50x	as long as short