Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0059%/8h= +6.5% APRpaid last 24h −0.065%

Price spread now: Orderly against 01 Exchange−0.206%46s7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on Orderly

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 pays, the price is against you. Orderly is 0.206% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.206% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$21 on $10k: about 12 days of funding at the current rate (+$2 a day). 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	01 Exchange MONUSD	0.02578	0.0008	pay 0.0001% / 1h	16m 32s	$6K	$1K	5x
Short	Orderly PERP_MON_USDC	0.02573	0.0067	get 0.0033% / 4h	1h 16m	$17K	$64K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against 01 Exchange. 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 01 ExchangebpFee OrderlybpOrdersPrice spread, now −0.206%Rate

Funding earned: $12.38
Price spread: −0.206% → 0.000%: −$20.56
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$21.17
Costs to cover: 0.130%
Break-even: 19.0 days

Slippage unknown: 01 Exchange: no order-book sample; Orderly: 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

01 Exchange and Orderly: 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
Bybit MONUSDT	−0.0058%	8h	0.02572	−0.244%	$21.4M	$11.8M	50x	as long as short
Injective MON/USDC PERP	−0.0053%	1h	0.02582	+0.144%	$6K	$108	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02577	−0.066%	$13K	$362K	5x	as long as short
Perpl MON	0.0000%	43m	0.02577	−0.062%	$143K	$1.8M	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02576	−0.085%	$70K	$119K	25x	as long as short
01 Exchange MONUSDlong	+0.0008%	1h	0.02578	long leg	$6K	$1K	5x
Aftermath Perps MONUSD	+0.0021%	1h	0.02577	−0.047%	$2K	$73K	10x	as long as short
Orderly PERP_MON_USDCshort	+0.0067%	4h	0.02573	−0.206%	$17K	$64K	10x
Paradex MON-USD-PERP	+0.0085%	8h	0.02574	−0.184%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02576	−0.089%	$853K	$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	0.02579	+0.021%	$388K	$539K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02580	+0.070%	$34.9M	$7.4M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02577	−0.050%	$108K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02577	−0.057%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02576	−0.089%	$142K	$104K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02576	−0.089%	$24.5M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02573	−0.206%	$4.4M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02578	−0.028%	$108K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02575	−0.128%	$999K	$872K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02577	−0.050%	$2.7M	$1.8M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02575	−0.144%	$128K	$143K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02575	−0.140%	$780K	$407K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02577	−0.032%	$47K	$243K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02578	−0.013%	$578K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02578	−0.012%	$69K	$480K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02575	−0.128%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02578	+0.001%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02575	−0.128%	$39K	—	3x	as long as short
Kraken Futures PF_MONUSD	+0.0174%	1h	0.02579	+0.011%	$271K	$78K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0598%	1h	0.02575	−0.120%	$9K	—	50x	as long as short
KuCoin MONUSDTM	+0.0298%	4h	0.02582	+0.144%	$3.2M	$673K	75x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02575	−0.128%	$1.3M	$293K	75x	as long as short
Coinbase International MON-PERP-INTX	+0.0536%	1h	0.02607	+1.102%	$114K	$49K	50x	as long as short