Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.065%

Price spread now: KuCoin against Variational Omni−0.240%7-day average +0.196% · you buy dearer than you sell

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

Long on Variational Omni Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.093%+$9 on $10k

Price spread, last 4 days (all we have)−0.372%−$37 · spread now −0.240%, 7d avg +0.196%

Together, before fees−0.279%+ Points / potential airdropVariational Omni: Active · farm board−$28 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: KuCoin is 0.435% cheaper against Variational Omni than usual: you would sell low and buy high, −$44 on $10k if it goes back to its 7-day average of +0.196%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MON	0.02538	0.0100	pay 0.0100% / 8h	5h 52m	$750K	$404K	—
Short	KuCoin MONUSDTM	0.02532	0.0100	get 0.0050% / 4h	1h 52m	$2.9M	$742K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee KuCoinbpOrdersPrice spread, now −0.240%Rate

Funding earned: $0
Price spread: −0.240% → +0.196%: −$43.55
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$55.55
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 11 min ago; KuCoin: live order book, 4 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 Variational Omni RFQ quote, 11 min ago	9.85 bp	doesn't fit	80.8 bp −$808	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	11.86 bp	44.0 bp −$44	453.3 bp −$4,533	doesn't fit	doesn't fit

MON on 32 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	−0.0316%	1h	0.02527	−0.421%	$13K	$367K	5x	as long as short
Injective MON/USDC PERP	−0.0253%	1h	0.02531	−0.279%	$5K	$106	5.5x	as long as short
Bybit MONUSDT	−0.0057%	8h	0.02533	−0.188%	$20.8M	$12.8M	50x	as long as short
Backpack MON_USDC_PERP	−0.0049%	1h	0.02534	−0.161%	$118K	$148K	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02533	−0.216%	$68K	$125K	25x	as long as short
01 Exchange MONUSD	+0.0032%	1h	0.02527	−0.448%	$6K	$1K	5x	as long as short
Orderly PERP_MON_USDC	+0.0077%	4h	0.02531	−0.279%	$16K	$51K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02540	+0.076%	$846K	$738K	10x	as long as short
Paradex MON-USD-PERP	+0.0099%	8h	0.02525	−0.499%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02529	−0.354%	$405K	$539K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid MON	+0.0100%	1h	0.02539	+0.020%	$34.4M	$7.4M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02533	−0.212%	$101K	$229K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02530	−0.326%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02530	−0.334%	$140K	$93K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02535	−0.117%	$24.2M	$25.9M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02534	−0.161%	$4.2M	$5.8M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02530	−0.318%	$105K	$4K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02532	−0.240%	$951K	$913K	50x	as long as short
KuCoin MONUSDTMshort	+0.0100%	4h	0.02532	−0.240%	$2.9M	$742K	75x
Bitget MONUSDT	+0.0100%	4h	0.02536	−0.082%	$2.7M	$2.0M	25x	as long as short
Variational Omni MONlong	+0.0100%	8h	0.02538	long leg	$750K	$404K	—
edgeX MONUSDC	+0.0100%	4h	0.02526	−0.494%	$43K	$247K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02527	−0.446%	$565K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02524	−0.555%	$68K	$498K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02531	−0.279%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02537	−0.055%	$48K	$518K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02532	−0.259%	$38K	—	3x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02531	−0.263%	$9K	—	50x	as long as short
Aftermath Perps MONUSD	+0.0317%	1h	0.02532	−0.240%	$2K	$74K	10x	as long as short
Perpl MON	+0.0447%	43m	0.02530	−0.326%	$105K	$2.3M	10x	as long as short
Kraken Futures PF_MONUSD	+0.0491%	1h	0.02533	−0.213%	$267K	$97K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0536%	1h	0.02535	−0.137%	$111K	$51K	50x	as long as short