Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0064%/8h= −7.0% APRpaid last 24h −0.064%

Price spread now: Bulk against KuCoin−0.232%7-day average −0.113% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$146as in the Price arb table

costs, in and out, $10k−$1341.337% of the position

Long on KuCoin Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.067%−$7 on $10k

Price spread, last 4 days (all we have)+0.110%+$11 · spread now −0.232%, 7d avg −0.113%

Together, before fees+0.043%+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bulk is 0.119% cheaper against KuCoin than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.113%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MONUSDTM	0.02586	0.0164	pay 0.0082% / 4h	3h 26m	$3.0M	$720K	75x
Short	Bulk MON-USD	0.02580	0.0100	get 0.0013% / 1h	26m 29s	$106K	$2K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against KuCoin. 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 KuCoinbpFee BulkbpOrdersPrice spread, now −0.232%Rate

Funding earned: −$13.44
Price spread: −0.232% → −0.113%: −$11.85
Slippage, 4 orders: −$114.69
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$158.99
Costs to cover: 1.337%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; Bulk: live order book, 47 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 KuCoin live order book, 6 min ago	1.94 bp	45.0 bp −$45	676.4 bp −$6,764	doesn't fit	doesn't fit
Sell Bulk live order book, 47 min ago	19.57 bp	23.1 bp −$23	74.1 bp −$741	457.9 bp −$45.8K	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	−0.0444%	1h	0.02576	−0.387%	$6K	$107	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02580	−0.247%	$13K	$351K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02582	−0.139%	$70K	$119K	25x	as long as short
Orderly PERP_MON_USDC	+0.0067%	4h	0.02580	−0.232%	$17K	$64K	10x	as long as short
01 Exchange MONUSD	+0.0080%	1h	0.02583	−0.131%	$6K	$1K	5x	as long as short
Lighter MON	+0.0096%	1h	0.02586	0.000%	$861K	$754K	10x	as long as short
Paradex MON-USD-PERP	+0.0099%	8h	0.02582	−0.140%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02589	+0.131%	$395K	$532K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02587	+0.035%	$35.2M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02583	−0.127%	$107K	$231K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX MON-USD	+0.0100%	1h	0.02581	−0.201%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02584	−0.097%	$143K	$104K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02584	−0.085%	$24.7M	$25.4M	75x	as long as short
Bybit MONUSDT	+0.0100%	8h	0.02584	−0.058%	$21.5M	$12.2M	50x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02584	−0.077%	$4.3M	$5.9M	50x	as long as short
Bulk MON-USDshort	+0.0100%	1h	0.02580	−0.232%	$106K	$2K	10x
Gate MON_USDT	+0.0100%	4h	0.02582	−0.155%	$978K	$907K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02587	+0.039%	$2.8M	$1.9M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02583	−0.108%	$128K	$140K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02575	−0.441%	$778K	$407K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02580	−0.218%	$44K	$246K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02579	−0.271%	$584K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02582	−0.155%	$69K	$486K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02581	−0.193%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02587	+0.028%	$49K	$520K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02581	−0.189%	$39K	—	3x	as long as short
KuCoin MONUSDTMlong	+0.0164%	4h	0.02586	long leg	$3.0M	$720K	75x
Aftermath Perps MONUSD	+0.0192%	1h	0.02581	−0.186%	$4K	$74K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02581	−0.178%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02581	−0.193%	$1.4M	$307K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02582	−0.162%	$180K	$2.0M	10x	as long as short
Kraken Futures PF_MONUSD	+0.0462%	1h	0.02586	−0.015%	$272K	$78K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0808%	1h	0.02584	−0.073%	$113K	$51K	50x	as long as short