Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.077%

Price spread now: edgeX against Hyperliquid−0.327%86s7-day average −0.145% · you buy dearer than you sell

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

Long on Hyperliquid Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.165%−$17 on $10k

Price spread, last 4 days (all we have)+0.729%+$73 · spread now −0.327%, 7d avg −0.145%

Together, before fees+0.564%+ Points / potential airdropHyperliquid: Season 2 · edgeX: Active · farm board+$56 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: edgeX is 0.182% cheaper against Hyperliquid than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of −0.145%. The two prices were read 86 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	Hyperliquid MON	0.02547	0.0100	pay 0.0013% / 1h	14m 09s	$34.4M	$6.8M	5x
Short	edgeX MONUSDC	0.02538	0.0100	get 0.0050% / 4h	3h 14m	$42K	$251K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Hyperliquid. 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 HyperliquidbpFee edgeXbpOrdersPrice spread, now −0.327%Rate

Funding earned: $0
Price spread: −0.327% → −0.145%: −$18.23
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$36.23
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 9 min ago; edgeX: live order book, 18 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 Hyperliquid live order book, 9 min ago	0.20 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 18 min ago	10.01 bp	22.2 bp −$22	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	−0.0131%	1h	0.02546	−0.012%	$113K	$150K	10x	as long as short
Injective MON/USDC PERP	−0.0089%	1h	0.02505	−1.634%	$5K	$108	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02536	−0.428%	$13K	$346K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02542	−0.161%	$74K	$137K	25x	as long as short
Lighter MON	+0.0096%	1h	0.02544	−0.102%	$819K	$769K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02539	−0.301%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02540	−0.267%	$392K	$564K	10x	as long as short
Hyperliquid MONlong	+0.0100%	1h	0.02547	long leg	$34.4M	$6.8M	5x
Aster MONUSDT	+0.0100%	4h	0.02543	−0.142%	$101K	$213K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02541	−0.233%	$13K	—	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica MON	+0.0100%	1h	0.02541	−0.220%	$141K	$90K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02542	−0.181%	$24.4M	$27.0M	75x	as long as short
Bybit MONUSDT	+0.0100%	8h	0.02542	−0.181%	$21.2M	$13.5M	50x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02544	−0.102%	$4.2M	$6.2M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02530	−0.652%	$104K	−$0	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02544	−0.102%	$974K	$1.1M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02544	−0.102%	$2.9M	$758K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02545	−0.063%	$2.7M	$2.2M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02538	−0.333%	$754K	$378K	—	as long as short
edgeX MONUSDCshort	+0.0100%	4h	0.02538	−0.327%	$42K	$251K	10x
GRVT MON_USDT_Perp	+0.0100%	4h	0.02529	−0.705%	$573K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02543	−0.141%	$69K	$546K	50x	as long as short
Orderly PERP_MON_USDC	+0.0100%	4h	0.02543	−0.141%	$16K	$36K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02542	−0.181%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02544	−0.113%	$58K	$326K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02543	−0.157%	$38K	—	3x	as long as short
01 Exchange MONUSD	+0.0160%	1h	0.02537	−0.393%	$6K	$3K	5x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0231% / S −0.0246%	1h	0.02543	−0.122%	$6K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02540	−0.259%	$1.3M	$375K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02537	−0.381%	$118K	$2.1M	10x	as long as short
Aftermath Perps MONUSD	+0.0543%	1h	0.02530	−0.640%	$4K	$101K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0744%	1h	0.02549	+0.098%	$112K	$54K	50x	as long as short
Kraken Futures PF_MONUSD	+0.0787%	1h	0.02544	−0.087%	$273K	$118K	10x	as long as short