Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:03 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.023%

Price spread now: Perpl against Bulk+0.214%7-day average +0.057% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bulk Short on Perpl

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.064%+$6 on $10k

Price spread, last 3 days (all we have)+0.414%+$41 · spread now +0.214%, 7d avg +0.057%

Together, before fees+0.478%+ Points / potential airdropPerpl: Active · farm board+$48 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Perpl is 0.157% dearer against Bulk than usual: you sell high and buy low (spread +0.214% now, against its 7-day average of +0.057%): +$16 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 5.2 days. Mind the row above: over the last 3 days funding on this pair paid +0.064%, 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	0.02570	0.0100	pay 0.0013% / 1h	28m 44s	$108K	$3K	10x
Short	Perpl MON	0.02576	0	get 0.0000% / 43m	41m 44s	$143K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Perpl against Bulk. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 PerplbpOrdersPrice spread, now +0.214%Rate

Funding earned: −$21
Price spread: +0.214% → +0.057%: $15.67
Slippage, 4 orders: no order book: not counted
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Net: −$26.13
Costs to cover: 0.208%
Break-even: never at this rate

Slippage unknown: Bulk: live order book, 55 min ago; Perpl: no order-book sample. Net counts fees only.

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, 55 min ago	19.27 bp	22.8 bp −$23	43.0 bp −$430	108.7 bp −$10.9K	744.7 bp −$372.4K
Sell Perpl no order-book sample	—	—	—	—	—

Perpl: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0053%	1h	0.02582	+0.467%	$6K	$108	5.5x	as long as short
Bybit MONUSDT	−0.0051%	8h	0.02575	+0.198%	$21.4M	$11.7M	50x	as long as short
01 Exchange MONUSD	−0.0048%	1h	0.02574	+0.152%	$6K	$1K	5x	as long as short
Phoenix MON	0.0000%	1h	0.02571	+0.043%	$13K	$362K	5x	as long as short
Perpl MONshort	0.0000%	43m	0.02576	+0.214%	$143K	$1.8M	10x
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02578	+0.319%	$70K	$119K	25x	as long as short
Aftermath Perps MONUSD	+0.0023%	1h	0.02579	+0.334%	$2K	$73K	10x	as long as short
Orderly PERP_MON_USDC	+0.0067%	4h	0.02575	+0.195%	$17K	$64K	10x	as long as short
Paradex MON-USD-PERP	+0.0081%	8h	0.02573	+0.105%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02581	+0.428%	$855K	$773K	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	0.02583	+0.510%	$34.9M	$7.4M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02577	+0.272%	$108K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02579	+0.336%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02574	+0.148%	$142K	$107K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02578	+0.311%	$24.5M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02575	+0.195%	$4.4M	$5.9M	50x	as long as short
Bulk MON-USDlong	+0.0100%	1h	0.02570	long leg	$108K	$3K	10x
Gate MON_USDT	+0.0100%	4h	0.02578	+0.311%	$1.0M	$865K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02579	+0.350%	$2.7M	$1.8M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02570	−0.012%	$779K	$407K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02580	+0.375%	$47K	$244K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02572	+0.078%	$577K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02578	+0.311%	$69K	$481K	50x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02578	+0.297%	$388K	$538K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02576	+0.233%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02580	+0.376%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02576	+0.241%	$39K	—	3x	as long as short
Backpack MON_USDC_PERP	+0.0169%	1h	0.02578	+0.304%	$138K	$134K	10x	as long as short
Kraken Futures PF_MONUSD	+0.0174%	1h	0.02580	+0.373%	$271K	$77K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02578	+0.311%	$9K	—	50x	as long as short
KuCoin MONUSDTM	+0.0316%	4h	0.02580	+0.389%	$3.2M	$724K	75x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02572	+0.078%	$1.4M	$292K	75x	as long as short
Coinbase International MON-PERP-INTX	+0.0536%	1h	0.02607	+1.428%	$114K	$49K	50x	as long as short