Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.005%

Price spread now: Phoenix against Aster+0.028%55s7-day average +0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$1101.097% of the position

Long on Aster Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.102%−$10 on $10k

Price spread, last 3 days (all we have)+0.152%+$15 · spread now +0.028%, 7d avg +0.024%

Together, before fees+0.049%+ Points / potential airdropAster: Stage 5 · farm board+$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.024%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. The two prices were read 55 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	Aster MONUSDT	0.02583	0.0100	pay 0.0050% / 4h	1h 34m	$108K	$230K	10x
Short	Phoenix MON	0.02584	0	get 0.0000% / 1h	34m 31s	$13K	$362K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Aster. 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 AsterbpFee PhoenixbpOrdersPrice spread, now +0.028%Rate

Funding earned: −$21
Price spread: +0.028% → +0.024%: $0.33
Slippage, 4 orders: −$94.73
Fee Aster: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$130.4
Costs to cover: 1.097%
Break-even: never at this rate

Slippage from Aster: live order book, 47 min ago; Phoenix: live order book, 47 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 Aster live order book, 47 min ago	17.30 bp	50.5 bp −$51	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix live order book, 47 min ago	1.15 bp	13.2 bp −$13	44.6 bp −$446	doesn't fit	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
Injective MON/USDC PERP	−0.0053%	1h	0.02582	−0.050%	$6K	$108	5.5x	as long as short
Bybit MONUSDT	−0.0048%	8h	0.02574	−0.348%	$21.4M	$11.7M	50x	as long as short
01 Exchange MONUSD	−0.0048%	1h	0.02574	−0.371%	$6K	$1K	5x	as long as short
Phoenix MONshort	0.0000%	1h	0.02584	+0.028%	$13K	$362K	5x
Perpl MON	0.0000%	43m	0.02578	−0.189%	$143K	$1.8M	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02583	−0.019%	$70K	$119K	25x	as long as short
Aftermath Perps MONUSD	+0.0027%	1h	0.02587	+0.131%	$2K	$73K	10x	as long as short
Orderly PERP_MON_USDC	+0.0069%	4h	0.02582	−0.050%	$17K	$64K	10x	as long as short
Paradex MON-USD-PERP	+0.0078%	8h	0.02578	−0.197%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02581	−0.089%	$855K	$773K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid MON	+0.0100%	1h	0.02580	−0.116%	$34.9M	$7.4M	5x	as long as short
Aster MONUSDTlong	+0.0100%	4h	0.02583	long leg	$108K	$230K	10x
dYdX MON-USD	+0.0100%	1h	0.02587	+0.136%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02580	−0.127%	$142K	$107K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02577	−0.239%	$24.5M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02573	−0.398%	$4.4M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02585	+0.082%	$109K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02580	−0.127%	$1.0M	$864K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02580	−0.127%	$2.7M	$1.8M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02581	−0.081%	$781K	$406K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02582	−0.047%	$47K	$243K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02585	+0.064%	$580K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02590	+0.260%	$69K	$480K	50x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02581	−0.077%	$387K	$537K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02581	−0.089%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02583	−0.001%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02581	−0.108%	$39K	—	3x	as long as short
Kraken Futures PF_MONUSD	+0.0173%	1h	0.02586	+0.090%	$267K	$70K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02584	+0.008%	$9K	—	50x	as long as short
Backpack MON_USDC_PERP	+0.0300%	1h	0.02582	−0.042%	$138K	$136K	10x	as long as short
KuCoin MONUSDTM	+0.0328%	4h	0.02585	+0.066%	$3.2M	$725K	75x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02580	−0.127%	$1.3M	$293K	75x	as long as short
Coinbase International MON-PERP-INTX	+0.0536%	1h	0.02607	+0.906%	$114K	$49K	50x	as long as short