Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0700%/8h= +76.6% APRpaid last 24h +0.227%

Price spread now: Coinbase International against Bybit+0.949%54s7-day average +0.628% · you sell dearer than you buy

Net, funding: paid 7d − costs−$127as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2312.314% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+1.045%+$105 on $10k

Price spread, last 4 days (all we have)−0.069%−$7 · spread now +0.949%, 7d avg +0.628%

Together, before fees+0.976%+$98 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$21 a day on $10k at the current rate, and Coinbase International is 0.321% dearer against Bybit than usual: you sell high and buy low: +$32 more if the spread goes back to its 7-day average of +0.628%. 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	Bybit MONUSDT	0.02551	0.0100	pay 0.0100% / 8h	6h 58m	$21.3M	$13.4M	50x
Short	Coinbase International MON-PERP-INTX	0.02575	0.0800	get 0.0100% / 1h	58m 30s	$114K	$53K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.949%Rate

Funding earned: $147
Price spread: +0.949% → +0.628%: $32.06
Slippage, 4 orders: −$210.35
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$52.29
Costs to cover: 2.314%
Break-even: 9.5 days

Slippage from Bybit: live order book, 5 min ago; Coinbase International: live order book, 34 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, 5 min ago	5.87 bp	21.2 bp −$21	74.6 bp −$746	doesn't fit	doesn't fit
Sell Coinbase International live order book, 34 min ago	22.39 bp	42.1 bp −$42	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
Backpack MON_USDC_PERP	−0.0021%	1h	0.02558	+0.267%	$114K	$152K	10x	as long as short
Phoenix MON	0.0000%	1h	0.02558	+0.263%	$14K	$304K	5x	as long as short
Injective MON/USDC PERP	+0.0033%	1h	0.02505	−1.799%	$5K	$104	5.5x	as long as short
Lighter MON	+0.0096%	1h	0.02558	+0.278%	$834K	$759K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02555	+0.142%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02558	+0.285%	$393K	$577K	10x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02556	+0.213%	$101K	$202K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02557	+0.251%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02556	+0.208%	$142K	$89K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02554	+0.122%	$24.6M	$26.8M	75x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit MONUSDTlong	+0.0100%	8h	0.02551	long leg	$21.3M	$13.4M	50x
OKX MON-USDT-SWAP	+0.0100%	4h	0.02554	+0.122%	$4.3M	$6.1M	50x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02557	+0.239%	$1.0M	$1.1M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02556	+0.200%	$2.9M	$762K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02556	+0.200%	$2.8M	$2.2M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02553	+0.064%	$759K	$376K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02555	+0.179%	$42K	$252K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02557	+0.255%	$580K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02557	+0.239%	$69K	$545K	50x	as long as short
Orderly PERP_MON_USDC	+0.0100%	4h	0.02556	+0.200%	$16K	$36K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02555	+0.161%	$5K	$6K	5x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02542	−0.358%	$104K	−$0	10x	as long as short
Extended MON-USD	+0.0104%	1h	0.02557	+0.254%	$61K	$329K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02555	+0.149%	$39K	—	3x	as long as short
Hyperliquid MON	+0.0170%	1h	0.02557	+0.220%	$34.5M	$6.5M	5x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0231% / S −0.0246%	1h	0.02555	+0.141%	$7K	—	50x	as long as short
Deribit MON_USDC-PERPETUAL	+0.0298%	1h	0.02556	+0.208%	$73K	$135K	25x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02556	+0.200%	$1.4M	$403K	75x	as long as short
01 Exchange MONUSD	+0.0368%	1h	0.02557	+0.235%	$6K	$3K	5x	as long as short
Perpl MON	+0.0447%	43m	0.02556	+0.208%	$119K	$2.1M	10x	as long as short
Aftermath Perps MONUSD	+0.0642%	1h	0.02558	+0.259%	$4K	$97K	10x	as long as short
Kraken Futures PF_MONUSD	+0.0667%	1h	0.02560	+0.338%	$275K	$118K	10x	as long as short
Coinbase International MON-PERP-INTXshort	+0.0800%	1h	0.02575	+0.949%	$114K	$53K	50x