Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.005%

Price spread now: Bulk against Nado−0.225%54s7-day average −0.160% · 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—prices read too far apart to compare

costs, in and out, $10k−$720.719% of the position

Long on Nado Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.005%$0 on $10k

Price spread, last 4 days (all we have)−0.301%−$30 · spread now −0.225%, 7d avg −0.160%

Together, before fees−0.306%+ Points / potential airdropNado: Active · farm board−$31 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: Bulk is 0.065% cheaper against Nado than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.160%. The two prices were read 54 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	Nado MON-PERP	0.02481	0.0100	pay 0.0012% / 1h	31m 40s	$410K	$569K	10x
Short	Bulk MON-USD	0.02475	0.0100	get 0.0013% / 1h	31m 40s	$102K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Nado. 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 NadobpFee BulkbpOrdersPrice spread, now −0.225%Rate

Funding earned: $0
Price spread: −0.225% → −0.160%: −$6.46
Slippage, 4 orders: −$57.86
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$78.32
Costs to cover: 0.719%
Break-even: 190908776580425.8 days

Slippage from Nado: live order book, 16 min ago; Bulk: live order book, 17 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 Nado live order book, 16 min ago	2.60 bp	14.0 bp −$14	1649.3 bp −$16.5K	doesn't fit	doesn't fit
Sell Bulk live order book, 17 min ago	20.04 bp	23.5 bp −$24	29.0 bp −$290	92.2 bp −$9,218	551.1 bp −$275.6K

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	−0.0121%	1h	0.02477	−0.128%	$115K	$156K	10x	as long as short
Deribit MON_USDC-PERPETUAL	−0.0073%	1h	0.02476	−0.164%	$73K	$136K	25x	as long as short
Bybit MONUSDT	−0.0009%	8h	0.02475	−0.225%	$20.3M	$13.6M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02484	+0.126%	$12K	$355K	5x	as long as short
01 Exchange MONUSD	+0.0032%	1h	0.02480	−0.043%	$6K	$1K	5x	as long as short
Injective MON/USDC PERP	+0.0039%	1h	0.02489	+0.340%	$5K	$113	5.5x	as long as short
Orderly PERP_MON_USDC	+0.0083%	4h	0.02478	−0.104%	$16K	$48K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02476	−0.185%	$819K	$752K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02475	−0.211%	$7K	$42	5x	as long as short
Nado MON-PERPlong	+0.0100%	1h	0.02481	long leg	$410K	$569K	10x

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid MON	+0.0100%	1h	0.02476	−0.172%	$33.2M	$7.6M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02477	−0.131%	$99K	$221K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02474	−0.277%	$12K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02477	−0.144%	$137K	$92K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02476	−0.185%	$23.5M	$27.4M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02477	−0.144%	$4.1M	$6.0M	50x	as long as short
Bulk MON-USDshort	+0.0100%	1h	0.02475	−0.225%	$102K	$1K	10x
Gate MON_USDT	+0.0100%	4h	0.02478	−0.104%	$926K	$1.0M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02481	+0.017%	$2.9M	$764K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02479	−0.064%	$2.7M	$2.2M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02482	+0.062%	$737K	$405K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02489	+0.351%	$41K	$251K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02488	+0.285%	$560K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02490	+0.380%	$68K	$528K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02475	−0.225%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02476	−0.180%	$47K	$288K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02474	−0.261%	$37K	—	3x	as long as short
Aftermath Perps MONUSD	+0.0218%	1h	0.02483	+0.109%	$5K	$81K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0230% / S −0.0246%	1h	0.02477	−0.128%	$6K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02477	−0.144%	$1.3M	$347K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02478	−0.108%	$113K	$2.2M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0456%	1h	0.02530	+1.992%	$110K	$54K	50x	as long as short
Kraken Futures PF_MONUSD	+0.1027%	1h	0.02478	−0.115%	$266K	$119K	10x	as long as short