Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0084%/8h= +9.2% APRpaid last 24h +0.013%

Price spread now: Bulk against Bybit+0.200%7-day average +0.075% · 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−$79as in the Price arb table

costs, in and out, $10k−$920.917% of the position

Long on Bybit Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.066%+$7 on $10k

Price spread, last 4 days (all we have)−0.378%−$38 · spread now +0.200%, 7d avg +0.075%

Together, before fees−0.312%−$31 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Bulk is 0.126% dearer against Bybit than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.075%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MONUSDT	0.02495	0.0016	pay 0.0016% / 8h	2h 53m	$20.5M	$13.5M	50x
Short	Bulk MON-USD	0.02500	0.0100	get 0.0013% / 1h	53m 01s	$103K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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 BulkbpOrdersPrice spread, now +0.200%Rate

Funding earned: $17.68
Price spread: +0.200% → +0.075%: $12.59
Slippage, 4 orders: −$73.68
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$61.41
Costs to cover: 0.917%
Break-even: 31.3 days

Slippage from Bybit: live order book, 1 min ago; Bulk: live order book, 61 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	4.01 bp	20.2 bp −$20	60.2 bp −$602	doesn't fit	doesn't fit
Sell Bulk live order book, 61 min ago	19.80 bp	23.3 bp −$23	47.8 bp −$478	165.1 bp −$16.5K	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	−0.0025%	1h	0.02499	+0.164%	$110K	$153K	10x	as long as short
Phoenix MON	0.0000%	1h	0.02497	+0.076%	$12K	$355K	5x	as long as short
Bybit MONUSDTlong	+0.0016%	8h	0.02495	long leg	$20.5M	$13.5M	50x
Deribit MON_USDC-PERPETUAL	+0.0030%	1h	0.02498	+0.120%	$73K	$136K	25x	as long as short
Injective MON/USDC PERP	+0.0039%	1h	0.02496	+0.040%	$5K	$111	5.5x	as long as short
Orderly PERP_MON_USDC	+0.0083%	4h	0.02498	+0.120%	$16K	$48K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02499	+0.160%	$838K	$732K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02496	+0.038%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02500	+0.201%	$405K	$587K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02499	+0.152%	$33.6M	$7.5M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster MONUSDT	+0.0100%	4h	0.02498	+0.119%	$100K	$218K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02497	+0.097%	$12K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02499	+0.140%	$138K	$92K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02497	+0.082%	$23.7M	$27.0M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02497	+0.080%	$4.2M	$6.0M	50x	as long as short
Bulk MON-USDshort	+0.0100%	1h	0.02500	+0.200%	$103K	$1K	10x
Gate MON_USDT	+0.0100%	4h	0.02497	+0.080%	$933K	$985K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02501	+0.240%	$2.9M	$763K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02498	+0.120%	$2.7M	$2.2M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02495	+0.003%	$740K	$403K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02496	+0.038%	$41K	$250K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02501	+0.232%	$563K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02499	+0.160%	$68K	$522K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02497	+0.080%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02500	+0.210%	$48K	$285K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02497	+0.076%	$38K	—	3x	as long as short
01 Exchange MONUSD	+0.0152%	1h	0.02498	+0.116%	$6K	$1K	5x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02499	+0.164%	$9K	—	50x	as long as short
Aftermath Perps MONUSD	+0.0260%	1h	0.02498	+0.128%	$2K	$78K	10x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02495	0.000%	$1.3M	$337K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02499	+0.164%	$114K	$2.2M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0456%	1h	0.02530	+1.403%	$110K	$55K	50x	as long as short
Kraken Futures PF_MONUSD	+0.1018%	1h	0.02500	+0.189%	$269K	$112K	10x	as long as short