Funding arb · Price arb /

MON

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC0.0000%/8hpaid last 24h 0.000%

Price spread now: Variational Omni against edgeX−0.182%59s7-day average −0.074% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on edgeX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.028%−$3 on $10k

Price spread, last 3 days (all we have)+0.114%+$11 · spread now −0.182%, 7d avg −0.074%

Together, before fees+0.086%+ Points / potential airdropedgeX: Active · Variational Omni: Active · farm board+$9 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.107% cheaper against edgeX than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of −0.074%. The two prices were read 59 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	edgeX MONUSDC	0.02531	0.0100	pay 0.0050% / 4h	6m 34s	$47K	$241K	10x
Short	Variational Omni MON	0.02526	0.0100	get 0.0100% / 8h	4h 06m	$753K	$366K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against edgeX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 edgeXbpFee Variational OmnibpOrdersPrice spread, now −0.182%Rate

Funding earned: $0
Price spread: −0.182% → −0.074%: −$10.75
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$19.75
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 25 min ago; Variational Omni: RFQ quote, 27 min ago. Net counts fees only.

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 edgeX live order book, 25 min ago	9.89 bp	21.4 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 27 min ago	9.91 bp	doesn't fit	128.8 bp −$1,288	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
Injective MON/USDC PERP	−0.0242%	1h	0.02531	−0.003%	$5K	$111	5.5x	as long as short
01 Exchange MONUSD	−0.0168%	1h	0.02526	−0.185%	$6K	$1K	5x	as long as short
Backpack MON_USDC_PERP	−0.0159%	1h	0.02528	−0.126%	$133K	$135K	10x	as long as short
Bybit MONUSDT	−0.0082%	8h	0.02521	−0.398%	$20.9M	$11.3M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02527	−0.142%	$13K	$374K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02529	−0.094%	$47K	$75K	25x	as long as short
BloFin MON-USDT	+0.0043%	4h	0.02529	−0.082%	$1.3M	$219K	75x	as long as short
Lighter MON	+0.0096%	1h	0.02527	−0.161%	$826K	$748K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02524	−0.264%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02527	−0.148%	$314K	$508K	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	0.02528	−0.126%	$34.1M	$7.4M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02526	−0.183%	$105K	$240K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02527	−0.142%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02526	−0.201%	$143K	$104K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02525	−0.240%	$23.9M	$23.7M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02523	−0.319%	$4.3M	$5.7M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02530	−0.043%	$106K	$8K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02526	−0.201%	$956K	$939K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02526	−0.201%	$2.6M	$1.7M	25x	as long as short
Variational Omni MONshort	+0.0100%	8h	0.02526	−0.182%	$753K	$366K	—
edgeX MONUSDClong	+0.0100%	4h	0.02531	long leg	$47K	$241K	10x
GRVT MON_USDT_Perp	+0.0100%	4h	0.02532	+0.031%	$564K	$1.4M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02533	+0.076%	$68K	$488K	50x	as long as short
Orderly PERP_MON_USDC	+0.0100%	4h	0.02526	−0.201%	$16K	$64K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02528	−0.122%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02527	−0.156%	$45K	$400K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02527	−0.142%	$38K	—	3x	as long as short
KuCoin MONUSDTM	+0.0206%	4h	0.02531	−0.003%	$3.0M	$775K	75x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0230% / S −0.0343%	1h	0.02529	−0.098%	$6K	—	50x	as long as short
Aftermath Perps MONUSD	+0.0416%	1h	0.02531	+0.004%	$2K	$71K	10x	as long as short
Kraken Futures PF_MONUSD	+0.0421%	1h	0.02530	−0.029%	$252K	$57K	10x	as long as short
Perpl MON	+0.0447%	43m	0.02528	−0.130%	$207K	$1.7M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0624%	1h	0.02543	+0.487%	$112K	$49K	50x	as long as short