Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0272%/8h= −29.8% APRpaid last 24h −0.057%

Price spread now: Bybit against KuCoin−0.390%7-day average −0.135% · you buy dearer than you sell

Net, funding: paid 7d − costs−$122as in the Funding arb table

Net, price: spread back to 7d avg − costs−$140as in the Price arb table

costs, in and out, $10k−$1141.143% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.081%−$8 on $10k

Price spread, last 7 days+0.419%+$42 · spread now −0.390%, 7d avg −0.135%

Together, before fees+0.338%+$34 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Bybit is 0.255% cheaper against KuCoin than usual: you would sell low and buy high (−$26 if the spread goes back to its 7-day average of −0.135%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.081% in total (about -4.2% 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	KuCoin MONUSDTM	0.02563	0.0242	pay 0.0121% / 4h	19m 49s	$3.0M	$718K	75x
Short	Bybit MONUSDT	0.02553	−0.0030	pay 0.0030% / 8h	19m 49s	$21.1M	$12.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.390%Rate

Funding earned: −$57.15
Price spread: −0.390% → −0.135%: −$25.53
Slippage, 4 orders: −$91.25
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$196.94
Costs to cover: 1.143%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; Bybit: live order book, 4 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, 2 min ago	13.63 bp	41.2 bp −$41	664.8 bp −$6,648	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	5.86 bp	20.6 bp −$21	62.8 bp −$628	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	−0.0121%	1h	0.02576	+0.507%	$6K	$107	5.5x	as long as short
01 Exchange MONUSD	−0.0080%	1h	0.02555	−0.328%	$6K	$1K	5x	as long as short
Bybit MONUSDTshort	−0.0030%	8h	0.02553	−0.390%	$21.1M	$12.1M	50x
Phoenix MON	0.0000%	1h	0.02563	−0.012%	$13K	$360K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02557	−0.254%	$69K	$119K	25x	as long as short
Orderly PERP_MON_USDC	+0.0068%	4h	0.02555	−0.312%	$17K	$64K	10x	as long as short
Aftermath Perps MONUSD	+0.0091%	1h	0.02566	+0.102%	$3K	$75K	10x	as long as short
Paradex MON-USD-PERP	+0.0095%	8h	0.02555	−0.300%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02557	−0.234%	$849K	$794K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02559	−0.169%	$390K	$545K	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	0.02559	−0.160%	$34.6M	$7.6M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02557	−0.220%	$106K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02559	−0.160%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02558	−0.195%	$141K	$105K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02556	−0.273%	$24.4M	$25.5M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02554	−0.351%	$4.3M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02570	+0.273%	$108K	$390	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02556	−0.273%	$974K	$910K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02557	−0.234%	$2.7M	$1.9M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02556	−0.258%	$127K	$141K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02557	−0.228%	$775K	$408K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02561	−0.067%	$47K	$244K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02564	+0.039%	$581K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02562	−0.039%	$68K	$482K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02555	−0.312%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02558	−0.176%	$51K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02556	−0.269%	$39K	—	3x	as long as short
KuCoin MONUSDTMlong	+0.0242%	4h	0.02563	long leg	$3.0M	$718K	75x
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0598%	1h	0.02557	−0.230%	$8K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02556	−0.273%	$1.3M	$306K	75x	as long as short
Kraken Futures PF_MONUSD	+0.0422%	1h	0.02559	−0.168%	$269K	$78K	10x	as long as short
Perpl MON	+0.0447%	43m	0.02557	−0.222%	$125K	$1.8M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0480%	1h	0.02609	+1.791%	$115K	$50K	50x	as long as short