Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:03 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.023%

Price spread now: Perpl against Pacifica+0.016%7-day average +0.022% · you sell dearer than you buy

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

Long on Pacifica Short on Perpl

What this pair did over the last

the charts below follow

Funding, last 7 days+0.175%+$18 on $10k

Price spread, last 3 days (all we have)+0.305%+$30 · spread now +0.016%, 7d avg +0.022%

Together, before fees+0.480%+ Points / potential airdropPacifica: Active · Perpl: Active · farm board+$48 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.022%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.175%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica MON	0.02576	0.0100	pay 0.0013% / 1h	32m 25s	$142K	$107K	3x
Short	Perpl MON	0.02576	0	get 0.0000% / 43m	2m 25s	$143K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Perpl against Pacifica. 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 PacificabpFee PerplbpOrdersPrice spread, now +0.016%Rate

Funding earned: −$21
Price spread: +0.016% → +0.022%: −$0.65
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Net: −$43.45
Costs to cover: 0.218%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 50 min ago; Perpl: no order-book sample. 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 Pacifica live order book, 50 min ago	1.92 bp	19.4 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell Perpl no order-book sample	—	—	—	—	—

Perpl: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0053%	1h	0.02582	+0.241%	$6K	$108	5.5x	as long as short
Bybit MONUSDT	−0.0052%	8h	0.02570	−0.210%	$21.4M	$11.7M	50x	as long as short
01 Exchange MONUSD	−0.0048%	1h	0.02576	+0.023%	$6K	$1K	5x	as long as short
Deribit MON_USDC-PERPETUAL	−0.0022%	1h	0.02574	−0.070%	$69K	$119K	25x	as long as short
Phoenix MON	0.0000%	1h	0.02580	+0.159%	$13K	$362K	5x	as long as short
Perpl MONshort	0.0000%	43m	0.02576	+0.016%	$143K	$1.8M	10x
Aftermath Perps MONUSD	+0.0021%	1h	0.02584	+0.301%	$2K	$73K	10x	as long as short
Orderly PERP_MON_USDC	+0.0067%	4h	0.02571	−0.186%	$17K	$64K	10x	as long as short
Paradex MON-USD-PERP	+0.0079%	8h	0.02574	−0.078%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02577	+0.047%	$854K	$773K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado MON-PERP	+0.0100%	1h	0.02580	+0.153%	$388K	$537K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02577	+0.039%	$34.9M	$7.4M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02577	+0.047%	$107K	$230K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02579	+0.130%	$13K	—	5x	as long as short
Pacifica MONlong	+0.0100%	1h	0.02576	long leg	$142K	$107K	3x
Binance MONUSDT	+0.0100%	4h	0.02573	−0.128%	$24.4M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02570	−0.225%	$4.4M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02585	+0.373%	$109K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02575	−0.031%	$1.0M	$865K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02575	−0.031%	$2.7M	$1.8M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02581	+0.210%	$781K	$406K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02580	+0.156%	$47K	$243K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02584	+0.319%	$580K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02581	+0.202%	$69K	$481K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02573	−0.109%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02578	+0.089%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02573	−0.109%	$39K	—	3x	as long as short
Kraken Futures PF_MONUSD	+0.0174%	1h	0.02578	+0.067%	$271K	$77K	10x	as long as short
Backpack MON_USDC_PERP	+0.0248%	1h	0.02579	+0.109%	$138K	$136K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0598%	1h	0.02574	−0.089%	$9K	—	50x	as long as short
KuCoin MONUSDTM	+0.0324%	4h	0.02578	+0.085%	$3.2M	$724K	75x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02577	+0.047%	$1.3M	$293K	75x	as long as short
Coinbase International MON-PERP-INTX	+0.0536%	1h	0.02607	+1.200%	$114K	$49K	50x	as long as short