Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.048%

Price spread now: BloFin against ApeX Omni+0.080%103s7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$770.772% of the position

Long on ApeX Omni Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.193%+$19 on $10k

Price spread, last 4 days (all we have)+0.610%+$61 · spread now +0.080%, 7d avg +0.011%

Together, before fees+0.803%+$80 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BloFin is 0.069% dearer against ApeX Omni than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.011%. The two prices were read 103 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	ApeX Omni MONUSDT	0.02499	0.0100	pay 0.0013% / 1h	25m 23s	$68K	$545K	50x
Short	BloFin MON-USDT	0.02501	0.0340	get 0.0170% / 4h	3h 25m	$1.3M	$369K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against ApeX Omni. 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 ApeX OmnibpFee BloFinbpOrdersPrice spread, now +0.080%Rate

Funding earned: $50.4
Price spread: +0.080% → +0.011%: $6.91
Slippage, 4 orders: −$55.21
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$19.89
Costs to cover: 0.772%
Break-even: 9.8 days

Slippage from ApeX Omni: live order book, 7 min ago; BloFin: live order book, 2 min ago.

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 ApeX Omni live order book, 7 min ago	12.01 bp	20.2 bp −$20	113.1 bp −$1,131	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	4.00 bp	18.7 bp −$19	45.1 bp −$451	132.0 bp −$13.2K	doesn't fit

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
Backpack MON_USDC_PERP	−0.0150%	1h	0.02496	−0.132%	$111K	$157K	10x	as long as short
Injective MON/USDC PERP	−0.0089%	1h	0.02505	+0.240%	$5K	$108	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02501	+0.068%	$13K	$346K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02500	+0.056%	$73K	$137K	25x	as long as short
Lighter MON	+0.0096%	1h	0.02499	0.000%	$803K	$766K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02498	−0.053%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02505	+0.221%	$388K	$575K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02503	+0.168%	$33.8M	$7.8M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02501	+0.077%	$99K	$213K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02499	+0.017%	$12K	—	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica MON	+0.0100%	1h	0.02500	+0.024%	$138K	$91K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02501	+0.082%	$24.0M	$27.7M	75x	as long as short
Bybit MONUSDT	+0.0100%	8h	0.02500	+0.040%	$20.9M	$13.9M	50x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02500	+0.040%	$4.2M	$6.2M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02492	−0.283%	$102K	−$0	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02500	+0.040%	$940K	$1.0M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02500	+0.040%	$2.9M	$771K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02501	+0.080%	$2.7M	$2.3M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02493	−0.240%	$740K	$378K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02498	−0.039%	$41K	$250K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02500	+0.026%	$567K	$1.5M	10x	as long as short
ApeX Omni MONUSDTlong	+0.0100%	1h	0.02499	long leg	$68K	$545K	50x
Orderly PERP_MON_USDC	+0.0100%	4h	0.02501	+0.080%	$16K	$40K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02495	−0.160%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02504	+0.192%	$57K	$332K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02499	0.000%	$38K	—	3x	as long as short
01 Exchange MONUSD	+0.0128%	1h	0.02504	+0.200%	$6K	$3K	5x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0231% / S −0.0246%	1h	0.02500	+0.024%	$6K	—	50x	as long as short
BloFin MON-USDTshort	+0.0340%	4h	0.02501	+0.080%	$1.3M	$369K	75x
Perpl MON	+0.0447%	43m	0.02497	−0.088%	$118K	$2.2M	10x	as long as short
Aftermath Perps MONUSD	+0.0481%	1h	0.02501	+0.073%	$5K	$102K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0744%	1h	0.02525	+1.040%	$111K	$53K	50x	as long as short
Kraken Futures PF_MONUSD	+0.0801%	1h	0.02499	−0.015%	$268K	$118K	10x	as long as short