Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0349%/8h= +38.2% APRpaid last 24h +0.048%

Price spread now: BloFin against Bybit−0.121%7-day average +0.108% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$97as in the Price arb table

costs, in and out, $10k−$740.744% of the position

Long on Bybit Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.305%+$31 on $10k

Price spread, last 4 days (all we have)+0.430%+$43 · spread now −0.121%, 7d avg +0.108%

Together, before fees+0.736%+$74 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.230% cheaper against Bybit than usual: you would sell low and buy high (spread −0.121% now, against its 7-day average of +0.108%). If the spread goes back, that is −$23 on $10k: about 2.2 days of funding at the current rate (+$10 a day). At the pace of the last 7 days (+0.305% in total) that is about 5.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MONUSDT	0.02475	−0.0009	get 0.0009% / 8h	2h 30m	$20.3M	$13.6M	50x
Short	BloFin MON-USDT	0.02472	0.0340	get 0.0170% / 4h	2h 30m	$1.3M	$346K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.121%Rate

Funding earned: $73.33
Price spread: −0.121% → +0.108%: −$22.96
Slippage, 4 orders: −$51.38
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$24
Costs to cover: 0.744%
Break-even: 9.3 days

Slippage from Bybit: live order book, 3 min ago; BloFin: live order book, 2 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, 3 min ago	6.07 bp	20.6 bp −$21	60.4 bp −$604	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	4.04 bp	17.3 bp −$17	50.1 bp −$501	154.8 bp −$15.5K	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
Backpack MON_USDC_PERP	−0.0120%	1h	0.02477	+0.065%	$115K	$156K	10x	as long as short
Bybit MONUSDTlong	−0.0009%	8h	0.02475	long leg	$20.3M	$13.6M	50x
Phoenix MON	0.0000%	1h	0.02478	+0.117%	$12K	$355K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02476	+0.028%	$73K	$136K	25x	as long as short
01 Exchange MONUSD	+0.0024%	1h	0.02478	+0.113%	$6K	$1K	5x	as long as short
Injective MON/USDC PERP	+0.0039%	1h	0.02489	+0.566%	$5K	$113	5.5x	as long as short
Orderly PERP_MON_USDC	+0.0083%	4h	0.02475	0.000%	$16K	$48K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02477	+0.081%	$816K	$755K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02476	+0.053%	$7K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02477	+0.084%	$409K	$569K	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	0.02478	+0.105%	$33.2M	$7.6M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02476	+0.049%	$99K	$221K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02474	−0.053%	$12K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02477	+0.101%	$137K	$92K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02476	+0.056%	$23.5M	$27.4M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02476	+0.040%	$4.1M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02475	0.000%	$102K	$1K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02476	+0.040%	$926K	$1.0M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02480	+0.202%	$2.8M	$764K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02479	+0.162%	$2.7M	$2.2M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02473	−0.096%	$732K	$407K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02473	−0.080%	$41K	$251K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02477	+0.068%	$557K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02477	+0.081%	$67K	$527K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02475	0.000%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02477	+0.093%	$47K	$288K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02474	−0.040%	$37K	—	3x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0230% / S −0.0246%	1h	0.02476	+0.024%	$6K	—	50x	as long as short
Aftermath Perps MONUSD	+0.0230%	1h	0.02482	+0.282%	$5K	$81K	10x	as long as short
BloFin MON-USDTshort	+0.0340%	4h	0.02472	−0.121%	$1.3M	$346K	75x
Perpl MON	+0.0447%	43m	0.02477	+0.097%	$113K	$2.2M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0456%	1h	0.02530	+2.222%	$110K	$54K	50x	as long as short
Kraken Futures PF_MONUSD	+0.1027%	1h	0.02479	+0.161%	$266K	$119K	10x	as long as short