Funding arb · Price arb /

MON

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:23 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.012%

Price spread now: SoDEX against Perpl−0.135%7-day average — · you buy dearer than you sell

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

Long on Perpl Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropPerpl: Active · farm boardneeds both histories

Funding pays, the price is against you. SoDEX is 0.135% cheaper against Perpl than usual: you would sell low and buy high (spread −0.135% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$14 on $10k: about 4.5 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Perpl MON	0.02510	0	get 0.0000% / 43m	1m 51s	$122K	$2.1M	10x
Short	SoDEX MON-USD	0.02507	0.0100	get 0.0013% / 1h	12m 51s	$5K	$6K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Perpl. 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 PerplbpFee SoDEXbpOrdersPrice spread, now −0.135%Rate

Funding earned: $21
Price spread: −0.135% → 0.000%: −$13.54
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$14.34
Costs to cover: 0.218%
Break-even: 11.8 days

Slippage unknown: Perpl: no order-book sample; SoDEX: 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 Perpl no order-book sample	—	—	—	—	—
Sell SoDEX no order-book sample	—	—	—	—	—

Perpl and SoDEX: 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	−0.0032%	1h	0.02505	−0.215%	$5K	$113	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02507	−0.139%	$13K	$349K	5x	as long as short
Perpl MONlong	0.0000%	43m	0.02510	long leg	$122K	$2.1M	10x
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02508	−0.092%	$73K	$138K	25x	as long as short
Lighter MON	+0.0096%	1h	0.02509	−0.056%	$804K	$785K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02507	−0.154%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02511	+0.033%	$394K	$578K	10x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02506	−0.169%	$99K	$213K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02507	−0.143%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02507	−0.127%	$139K	$91K	3x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance MONUSDT	+0.0100%	4h	0.02506	−0.169%	$23.8M	$27.5M	75x	as long as short
Bybit MONUSDT	+0.0100%	8h	0.02506	−0.175%	$20.9M	$13.9M	50x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02509	−0.056%	$4.2M	$6.2M	50x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02507	−0.135%	$938K	$1.1M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02511	+0.024%	$2.9M	$766K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02510	−0.016%	$2.7M	$2.3M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02508	−0.084%	$109K	$157K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02503	−0.310%	$743K	$410K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02504	−0.261%	$41K	$252K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02506	−0.178%	$558K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02506	−0.175%	$68K	$542K	50x	as long as short
Orderly PERP_MON_USDC	+0.0100%	4h	0.02507	−0.135%	$16K	$42K	10x	as long as short
SoDEX MON-USDshort	+0.0100%	1h	0.02507	−0.135%	$5K	$6K	5x
Bulk MON-USD	+0.0100%	1h	0.02500	−0.428%	$103K	−$0	10x	as long as short
Extended MON-USD	+0.0104%	1h	0.02510	−0.015%	$47K	$316K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02507	−0.147%	$38K	—	3x	as long as short
Hyperliquid MON	+0.0157%	1h	0.02512	+0.048%	$34.0M	$7.8M	5x	as long as short
01 Exchange MONUSD	+0.0216%	1h	0.02509	−0.056%	$6K	$3K	5x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0231% / S −0.0246%	1h	0.02504	−0.239%	$6K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02506	−0.175%	$1.3M	$334K	75x	as long as short
Aftermath Perps MONUSD	+0.0601%	1h	0.02505	−0.219%	$4K	$102K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0680%	1h	0.02515	+0.175%	$111K	$54K	50x	as long as short
Kraken Futures PF_MONUSD	+0.1201%	1h	0.02509	−0.055%	$269K	$118K	10x	as long as short