Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0270%/8h= +29.6% APRpaid last 24h +0.078%

Price spread now: KuCoin against Bybit+0.144%7-day average +0.139% · you sell dearer than you buy

Net, funding: paid 7d − costs−$111as in the Funding arb table

Net, price: spread back to 7d avg − costs−$119as in the Price arb table

costs, in and out, $10k−$1201.196% of the position

Long on Bybit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.088%+$9 on $10k

Price spread, last 7 days−0.144%−$14 · spread now +0.144%, 7d avg +0.139%

Together, before fees−0.056%−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.139%, so right now this pair is about funding alone: +$8 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.088% in total (about 4.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MONUSDT	0.02499	−0.0170	get 0.0170% / 8h	4h 40m	$20.5M	$13.2M	50x
Short	KuCoin MONUSDTM	0.02503	0.0100	get 0.0050% / 4h	40m 20s	$2.8M	$752K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.144%Rate

Funding earned: $56.79
Price spread: +0.144% → +0.139%: $0.47
Slippage, 4 orders: −$96.61
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$62.34
Costs to cover: 1.196%
Break-even: 14.7 days

Slippage from Bybit: live order book, 3 min ago; KuCoin: 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	2.00 bp	16.9 bp −$17	66.1 bp −$661	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	13.99 bp	53.8 bp −$54	462.5 bp −$4,625	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
01 Exchange MONUSD	−0.0432%	1h	0.02501	+0.080%	$6K	$1K	5x	as long as short
Backpack MON_USDC_PERP	−0.0307%	1h	0.02503	+0.128%	$112K	$151K	10x	as long as short
Injective MON/USDC PERP	−0.0176%	1h	0.02517	+0.704%	$5K	$109	5.5x	as long as short
Bybit MONUSDTlong	−0.0170%	8h	0.02499	long leg	$20.5M	$13.2M	50x
Phoenix MON	0.0000%	1h	0.02499	−0.016%	$12K	$359K	5x	as long as short
Perpl MON	0.0000%	43m	0.02502	+0.124%	$107K	$2.3M	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02502	+0.092%	$74K	$135K	25x	as long as short
Orderly PERP_MON_USDC	+0.0071%	4h	0.02501	+0.064%	$16K	$41K	10x	as long as short
Variational Omni MON	+0.0079%	8h	0.02498	−0.074%	$740K	$407K	—	as long as short
Paradex MON-USD-PERP	+0.0088%	8h	0.02501	+0.067%	$8K	$42	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MON	+0.0096%	1h	0.02501	+0.064%	$842K	$747K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02505	+0.225%	$427K	$561K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02503	+0.160%	$33.8M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02503	+0.149%	$100K	$222K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02502	+0.115%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02503	+0.144%	$138K	$93K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02501	+0.072%	$23.8M	$26.7M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02499	−0.016%	$4.2M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02495	−0.165%	$102K	$5K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02502	+0.104%	$948K	$983K	50x	as long as short
KuCoin MONUSDTMshort	+0.0100%	4h	0.02503	+0.144%	$2.8M	$752K	75x
Bitget MONUSDT	+0.0100%	4h	0.02503	+0.144%	$2.7M	$2.1M	25x	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02500	+0.013%	$41K	$249K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02501	+0.045%	$559K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02501	+0.064%	$67K	$507K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02500	+0.024%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02504	+0.167%	$48K	$521K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02500	+0.044%	$38K	—	3x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02502	+0.104%	$9K	—	50x	as long as short
Aftermath Perps MONUSD	+0.0263%	1h	0.02504	+0.189%	$2K	$74K	10x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02499	−0.016%	$1.3M	$337K	75x	as long as short
Coinbase International MON-PERP-INTX	+0.0408%	1h	0.02514	+0.564%	$110K	$57K	50x	as long as short
Kraken Futures PF_MONUSD	+0.0544%	1h	0.02504	+0.180%	$269K	$116K	10x	as long as short