Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0032%/8h= −3.6% APRpaid last 24h +0.013%

Price spread now: BloFin against Bulk−0.500%7-day average +0.039% · 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−$132as in the Price arb table

costs, in and out, $10k−$780.784% of the position

Long on Bulk Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.131%+$13 on $10k

Price spread, last 3 days (all we have)+0.900%+$90 · spread now −0.500%, 7d avg +0.039%

Together, before fees+1.031%+$103 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BloFin is 0.539% cheaper against Bulk than usual: you would sell low and buy high (−$54 if the spread goes back to its 7-day average of +0.039%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.131%, so the current rate has only just turned against you.

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	7m 02s	$109K	$3K	10x
Short	BloFin MON-USDT	0.02587	0.0068	get 0.0034% / 4h	2h 07m	$1.4M	$245K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.500%Rate

Funding earned: −$6.82
Price spread: −0.500% → +0.039%: −$53.89
Slippage, 4 orders: −$59.38
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$139.09
Costs to cover: 0.784%
Break-even: never at this rate

Slippage from Bulk: live order book, 17 min ago; BloFin: live order book, 10 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, 17 min ago	19.27 bp	22.8 bp −$23	43.0 bp −$430	108.7 bp −$10.9K	744.7 bp −$372.4K
Sell BloFin live order book, 10 min ago	7.71 bp	16.9 bp −$17	35.7 bp −$357	125.2 bp −$12.5K	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	−0.0599%	1h	0.02589	−0.438%	$66K	$114K	25x	as long as short
01 Exchange MONUSD	−0.0288%	1h	0.02585	−0.585%	$6K	$1K	5x	as long as short
Bybit MONUSDT	−0.0020%	8h	0.02584	−0.635%	$21.5M	$11.8M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02592	−0.315%	$13K	$384K	5x	as long as short
BloFin MON-USDTshort	+0.0068%	4h	0.02587	−0.500%	$1.4M	$245K	75x
Paradex MON-USD-PERP	+0.0072%	8h	0.02590	−0.379%	$8K	$42	5x	as long as short
Orderly PERP_MON_USDC	+0.0081%	4h	0.02587	−0.500%	$17K	$64K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02588	−0.462%	$850K	$758K	10x	as long as short
Aftermath Perps MONUSD	+0.0100%	1h	0.02594	−0.218%	$2K	$73K	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	0.02589	−0.415%	$34.9M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02589	−0.416%	$108K	$233K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02596	−0.156%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02592	−0.308%	$143K	$106K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02586	−0.526%	$24.6M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02584	−0.615%	$4.4M	$6.0M	50x	as long as short
Bulk MON-USDlong	+0.0100%	1h	0.02600	long leg	$109K	$3K	10x
Gate MON_USDT	+0.0100%	4h	0.02590	−0.385%	$1.0M	$935K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02590	−0.385%	$2.8M	$1.8M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02588	−0.444%	$782K	$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 MONUSDT	+0.0100%	1h	0.02593	−0.269%	$69K	$479K	50x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02594	−0.241%	$390K	$536K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02586	−0.538%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02592	−0.288%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02587	−0.481%	$39K	—	3x	as long as short
Kraken Futures PF_MONUSD	+0.0131%	1h	0.02591	−0.353%	$267K	$67K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02592	−0.300%	$9K	—	50x	as long as short
Backpack MON_USDC_PERP	+0.0281%	1h	0.02588	−0.469%	$138K	$137K	10x	as long as short
KuCoin MONUSDTM	+0.0346%	4h	0.02594	−0.231%	$3.2M	$747K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02592	−0.319%	$145K	$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