Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0105%/8h= −11.5% APRpaid last 24h −0.014%

Price spread now: Bybit against Extended−0.094%7-day average −0.199% · you buy dearer than you sell

Net, funding: paid 7d − costs−$100as in the Funding arb table

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$910.910% of the position

Long on Extended Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.095%−$10 on $10k

Price spread, last 4 days (all we have)−0.103%−$10 · spread now −0.094%, 7d avg −0.199%

Together, before fees−0.198%+ Points / potential airdropExtended: Active · farm board−$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.105% dearer against Extended than usual: you sell high and buy low (spread −0.094% now, against its 7-day average of −0.199%): +$10 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.3 days. At the pace of the last 7 days (−0.095% in total) that is about 7.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended MON-USD	0.02546	0.0104	pay 0.0013% / 1h	9m 56s	$58K	$511K	10x
Short	Bybit MONUSDT	0.02544	−0.0001	pay 0.0001% / 8h	4h 09m	$21.6M	$12.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Extended. 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 ExtendedbpFee BybitbpOrdersPrice spread, now −0.094%Rate

Funding earned: −$22.09
Price spread: −0.094% → −0.199%: $10.46
Slippage, 4 orders: −$74.96
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$102.59
Costs to cover: 0.910%
Break-even: never at this rate

Slippage from Extended: live order book, 31 min ago; Bybit: 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 Extended live order book, 31 min ago	3.96 bp	25.5 bp −$25	169.4 bp −$1,694	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	3.94 bp	20.1 bp −$20	66.4 bp −$664	doesn't fit	doesn't fit

MON on 33 exchanges

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
Phoenix MON	−0.0316%	1h	0.02541	−0.232%	$12K	$284K	5x	as long as short
01 Exchange MONUSD	−0.0128%	1h	0.02541	−0.200%	$6K	$2K	5x	as long as short
Backpack MON_USDC_PERP	−0.0009%	1h	0.02542	−0.180%	$114K	$140K	10x	as long as short
Bybit MONUSDTshort	−0.0001%	8h	0.02544	−0.094%	$21.6M	$12.4M	50x
Perpl MON	0.0000%	43m	0.02542	−0.169%	$118K	$2.1M	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02541	−0.224%	$83K	$99K	25x	as long as short
Injective MON/USDC PERP	+0.0033%	1h	0.02541	−0.212%	$6K	$92	5.5x	as long as short
Paradex MON-USD-PERP	+0.0075%	8h	0.02539	−0.277%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02543	−0.133%	$839K	$696K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02543	−0.133%	$409K	$519K	10x	as long as short

Show all 33 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid MON	+0.0100%	1h	0.02543	−0.114%	$34.2M	$5.7M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02542	−0.156%	$100K	$187K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02540	−0.244%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02540	−0.239%	$140K	$80K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02542	−0.156%	$24.4M	$24.0M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02544	−0.094%	$4.2M	$5.4M	50x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02544	−0.094%	$1.2M	$1.3M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02544	−0.094%	$2.9M	$639K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02545	−0.055%	$2.9M	$2.0M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02538	−0.337%	$757K	$328K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02539	−0.276%	$42K	$248K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02544	−0.108%	$567K	$1.4M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02542	−0.173%	$69K	$545K	50x	as long as short
Orderly PERP_MON_USDC	+0.0100%	4h	0.02540	−0.251%	$16K	$35K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02540	−0.251%	$5K	$6K	5x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02540	−0.251%	$104K	$238	10x	as long as short
Extended MON-USDlong	+0.0104%	1h	0.02546	long leg	$58K	$511K	10x
Aevo MON-PERP	+0.0104%	1h	0.02540	−0.251%	$38K	—	3x	as long as short
Kraken Futures PF_MONUSD	+0.0204%	1h	0.02544	−0.087%	$275K	$114K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0231% / S −0.0246%	1h	0.02540	−0.251%	$6K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02537	−0.369%	$1.4M	$365K	75x	as long as short
Aftermath Perps MONUSD	+0.0448%	1h	0.02540	−0.248%	$7K	$95K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0632%	1h	0.02545	−0.067%	$107K	$55K	50x	as long as short