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% APRnext payment −$0.00 per $10,000 · paid last 24h +0.005%

Price spread now: Nado against Bulk+0.151%54s7-day average +0.174% · 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—prices read too far apart to compare

costs, in and out, $10k−$650.655% of the position

Long on Bulk Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.005%$0 on $10k

Price spread, last 3 days (all we have)+0.344%+$34 · spread now +0.151%, 7d avg +0.174%

Together, before fees+0.349%+ Points / potential airdropNado: Active · farm board+$35 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: Nado is 0.023% cheaper against Bulk than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.174%. The two prices were read 54 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	0.02575	0.0100	pay 0.0013% / 1h	32m 37s	$106K	$2K	10x
Short	Nado MON-PERP	0.02579	0.0100	get 0.0012% / 1h	32m 37s	$393K	$536K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.151%Rate

Funding earned: $0
Price spread: +0.151% → +0.174%: −$2.33
Slippage, 4 orders: −$51.46
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$67.79
Costs to cover: 0.655%
Break-even: never at this rate

Slippage from Bulk: live order book, 41 min ago; Nado: live order book, 40 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, 41 min ago	19.57 bp	23.1 bp −$23	71.9 bp −$719	610.1 bp −$61.0K	doesn't fit
Sell Nado live order book, 40 min ago	2.15 bp	9.1 bp −$9	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	+0.039%	$6K	$107	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02576	+0.054%	$13K	$351K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02573	−0.062%	$69K	$119K	25x	as long as short
Orderly PERP_MON_USDC	+0.0068%	4h	0.02573	−0.078%	$17K	$64K	10x	as long as short
01 Exchange MONUSD	+0.0088%	1h	0.02577	+0.082%	$6K	$1K	5x	as long as short
Lighter MON	+0.0096%	1h	0.02576	+0.039%	$858K	$754K	10x	as long as short
Paradex MON-USD-PERP	+0.0098%	8h	0.02571	−0.146%	$8K	$42	5x	as long as short
Nado MON-PERPshort	+0.0100%	1h	0.02579	+0.151%	$393K	$536K	10x
Hyperliquid MON	+0.0100%	1h	0.02577	+0.097%	$35.0M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02575	+0.003%	$107K	$231K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX MON-USD	+0.0100%	1h	0.02575	+0.003%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02575	0.000%	$142K	$104K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02573	−0.078%	$24.6M	$25.7M	75x	as long as short
Bybit MONUSDT	+0.0100%	8h	0.02572	−0.117%	$21.3M	$12.3M	50x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02571	−0.155%	$4.3M	$5.9M	50x	as long as short
Bulk MON-USDlong	+0.0100%	1h	0.02575	long leg	$106K	$2K	10x
Gate MON_USDT	+0.0100%	4h	0.02573	−0.078%	$981K	$904K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02573	−0.078%	$2.7M	$1.9M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02574	−0.027%	$128K	$141K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02581	+0.237%	$780K	$407K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02578	+0.109%	$44K	$248K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02581	+0.250%	$585K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02577	+0.078%	$69K	$484K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02573	−0.078%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02576	+0.022%	$49K	$517K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02573	−0.097%	$39K	—	3x	as long as short
Aftermath Perps MONUSD	+0.0139%	1h	0.02577	+0.079%	$4K	$76K	10x	as long as short
KuCoin MONUSDTM	+0.0142%	4h	0.02577	+0.078%	$3.0M	$725K	75x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0598%	1h	0.02573	−0.089%	$8K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02578	+0.117%	$1.4M	$308K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02573	−0.082%	$178K	$2.0M	10x	as long as short
Kraken Futures PF_MONUSD	+0.0464%	1h	0.02577	+0.062%	$271K	$78K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0808%	1h	0.02579	+0.171%	$113K	$51K	50x	as long as short