Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0157%/8h= +17.2% APRpaid last 24h +0.013%

Price spread now: ApeX Omni against Bybit−0.367%7-day average +0.111% · you buy dearer than you sell

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$122as in the Price arb table

costs, in and out, $10k−$740.741% of the position

Long on Bybit Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.087%+$9 on $10k

Price spread, last 4 days (all we have)+1.328%+$133 · spread now −0.367%, 7d avg +0.111%

Together, before fees+1.415%+$142 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.479% cheaper against Bybit than usual: you would sell low and buy high (spread −0.367% now, against its 7-day average of +0.111%). If the spread goes back, that is −$48 on $10k: about 10 days of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.087% in total) that is about 39 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MONUSDT	0.02533	−0.0057	get 0.0057% / 8h	5h 52m	$20.8M	$12.8M	50x
Short	ApeX Omni MONUSDT	0.02524	0.0100	get 0.0013% / 1h	52m 50s	$68K	$498K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bybit. 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 BybitbpFee ApeX OmnibpOrdersPrice spread, now −0.367%Rate

Funding earned: $33.01
Price spread: −0.367% → +0.111%: −$47.86
Slippage, 4 orders: −$53.11
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$88.96
Costs to cover: 0.741%
Break-even: 25.9 days

Slippage from Bybit: live order book, 1 min ago; ApeX Omni: 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 Bybit live order book, 1 min ago	1.98 bp	17.1 bp −$17	45.9 bp −$459	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 10 min ago	9.85 bp	18.4 bp −$18	109.4 bp −$1,094	doesn't fit	doesn't fit

MON on 32 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
Phoenix MON	−0.0316%	1h	0.02527	−0.233%	$13K	$367K	5x	as long as short
Injective MON/USDC PERP	−0.0253%	1h	0.02531	−0.091%	$5K	$106	5.5x	as long as short
Bybit MONUSDTlong	−0.0057%	8h	0.02533	long leg	$20.8M	$12.8M	50x
Backpack MON_USDC_PERP	−0.0049%	1h	0.02534	+0.028%	$118K	$148K	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02533	−0.028%	$68K	$125K	25x	as long as short
01 Exchange MONUSD	+0.0032%	1h	0.02527	−0.261%	$6K	$1K	5x	as long as short
Orderly PERP_MON_USDC	+0.0077%	4h	0.02531	−0.091%	$16K	$51K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02540	+0.264%	$846K	$738K	10x	as long as short
Paradex MON-USD-PERP	+0.0099%	8h	0.02525	−0.311%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02529	−0.166%	$405K	$539K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid MON	+0.0100%	1h	0.02539	+0.209%	$34.4M	$7.4M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02533	−0.023%	$101K	$229K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02530	−0.138%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02530	−0.146%	$140K	$93K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02535	+0.072%	$24.2M	$25.9M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02534	+0.028%	$4.2M	$5.8M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02530	−0.130%	$105K	$4K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02532	−0.051%	$951K	$913K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02532	−0.051%	$2.9M	$742K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02536	+0.107%	$2.7M	$2.0M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02538	+0.189%	$750K	$404K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02526	−0.306%	$43K	$247K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02527	−0.259%	$565K	$1.5M	10x	as long as short
ApeX Omni MONUSDTshort	+0.0100%	1h	0.02524	−0.367%	$68K	$498K	50x
SoDEX MON-USD	+0.0100%	1h	0.02531	−0.091%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02537	+0.134%	$48K	$518K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02532	−0.071%	$38K	—	3x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02531	−0.075%	$9K	—	50x	as long as short
Aftermath Perps MONUSD	+0.0317%	1h	0.02532	−0.052%	$2K	$74K	10x	as long as short
Perpl MON	+0.0447%	43m	0.02530	−0.138%	$105K	$2.3M	10x	as long as short
Kraken Futures PF_MONUSD	+0.0491%	1h	0.02533	−0.025%	$267K	$97K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0536%	1h	0.02535	+0.051%	$111K	$51K	50x	as long as short