Funding arb · Price arb /

MON

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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 0.000%

Price spread now: ApeX Omni against SoDEX−0.080%46s7-day average — · you buy dearer than you sell

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

Long on SoDEX Short on ApeX Omni

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—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.080% cheaper against SoDEX than usual: you would sell low and buy high, −$8 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 46 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	SoDEX MON-USD	0.02502	0.0100	pay 0.0013% / 1h	47m 38s	$5K	$6K	5x
Short	ApeX Omni MONUSDT	0.02500	0.0100	get 0.0013% / 1h	47m 38s	$68K	$525K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against SoDEX. 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 SoDEXbpFee ApeX OmnibpOrdersPrice spread, now −0.080%Rate

Funding earned: $0
Price spread: −0.080% → 0.000%: −$7.99
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$25.99
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; ApeX Omni: live order book, 65 min ago. 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 SoDEX no order-book sample	—	—	—	—	—
Sell ApeX Omni live order book, 65 min ago	9.88 bp	20.7 bp −$21	119.4 bp −$1,194	doesn't fit	doesn't fit

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
Phoenix MON	0.0000%	1h	0.02498	−0.172%	$12K	$355K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02503	+0.052%	$74K	$136K	25x	as long as short
Backpack MON_USDC_PERP	+0.0002%	1h	0.02502	+0.008%	$110K	$153K	10x	as long as short
Bybit MONUSDT	+0.0014%	8h	0.02494	−0.320%	$20.5M	$13.5M	50x	as long as short
Injective MON/USDC PERP	+0.0039%	1h	0.02496	−0.240%	$5K	$111	5.5x	as long as short
Orderly PERP_MON_USDC	+0.0083%	4h	0.02502	0.000%	$16K	$48K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02499	−0.120%	$838K	$732K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02497	−0.214%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02499	−0.116%	$405K	$588K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02499	−0.128%	$33.6M	$7.6M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster MONUSDT	+0.0100%	4h	0.02498	−0.168%	$100K	$218K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02500	−0.081%	$12K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02499	−0.120%	$138K	$92K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02496	−0.240%	$23.7M	$27.0M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02495	−0.280%	$4.2M	$6.1M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02500	−0.080%	$103K	$1K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02499	−0.120%	$934K	$985K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02503	+0.040%	$2.9M	$762K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02498	−0.160%	$2.7M	$2.2M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02497	−0.197%	$740K	$403K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02497	−0.195%	$41K	$251K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02502	0.000%	$563K	$1.5M	10x	as long as short
ApeX Omni MONUSDTshort	+0.0100%	1h	0.02500	−0.080%	$68K	$525K	50x
SoDEX MON-USDlong	+0.0100%	1h	0.02502	long leg	$5K	$6K	5x
Extended MON-USD	+0.0104%	1h	0.02498	−0.143%	$48K	$285K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02501	−0.020%	$38K	—	3x	as long as short
01 Exchange MONUSD	+0.0136%	1h	0.02498	−0.160%	$6K	$1K	5x	as long as short
Aftermath Perps MONUSD	+0.0250%	1h	0.02499	−0.113%	$2K	$78K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02502	+0.020%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02501	−0.040%	$1.3M	$338K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02504	+0.080%	$114K	$2.2M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0456%	1h	0.02530	+1.119%	$110K	$55K	50x	as long as short
Kraken Futures PF_MONUSD	+0.1016%	1h	0.02504	+0.080%	$269K	$112K	10x	as long as short