Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bulk against Binance−0.375%54s7-day average −0.004% · you buy dearer than you sell

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−$790.790% of the position

Long on Binance Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.268%−$27 · spread now −0.375%, 7d avg −0.004%

Together, before fees−0.270%−$27 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: Bulk is 0.371% cheaper against Binance than usual: you would sell low and buy high, −$37 on $10k if it goes back to its 7-day average of −0.004%. The two prices were read 54 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	Binance MONUSDT	0.02540	0.0100	pay 0.0050% / 4h	3h 12m	$24.3M	$26.9M	75x
Short	Bulk MON-USD	0.02530	0.0100	get 0.0013% / 1h	12m 47s	$104K	−$0	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Binance. 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 BinancebpFee BulkbpOrdersPrice spread, now −0.375%Rate

Funding earned: $0
Price spread: −0.375% → −0.004%: −$37.13
Slippage, 4 orders: −$62
Fee Binance: 5 bp × 2 orders: −$10
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$116.13
Costs to cover: 0.790%
Break-even: never at this rate

Slippage from Binance: live order book, 14 min ago; Bulk: live order book, 21 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 Binance live order book, 14 min ago	2.00 bp	14.2 bp −$14	50.2 bp −$502	457.2 bp −$45.7K	doesn't fit
Sell Bulk live order book, 21 min ago	19.96 bp	23.5 bp −$23	23.5 bp −$235	339.5 bp −$33.9K	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	−0.0135%	1h	0.02544	+0.188%	$113K	$149K	10x	as long as short
Injective MON/USDC PERP	−0.0089%	1h	0.02505	−1.360%	$5K	$108	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02536	−0.151%	$13K	$346K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02542	+0.101%	$74K	$133K	25x	as long as short
Lighter MON	+0.0096%	1h	0.02543	+0.137%	$820K	$773K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02538	−0.051%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02547	+0.291%	$393K	$563K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02544	+0.184%	$34.3M	$6.8M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02543	+0.127%	$101K	$213K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02546	+0.268%	$13K	—	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	0.02541	+0.058%	$141K	$90K	3x	as long as short
Binance MONUSDTlong	+0.0100%	4h	0.02540	long leg	$24.3M	$26.9M	75x
Bybit MONUSDT	+0.0100%	8h	0.02537	−0.100%	$21.2M	$13.5M	50x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02539	−0.021%	$4.2M	$6.1M	50x	as long as short
Bulk MON-USDshort	+0.0100%	1h	0.02530	−0.375%	$104K	−$0	10x
Gate MON_USDT	+0.0100%	4h	0.02543	+0.137%	$971K	$1.1M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02545	+0.215%	$2.9M	$758K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02542	+0.097%	$2.7M	$2.2M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02538	−0.055%	$754K	$378K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02536	−0.159%	$42K	$252K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02538	−0.060%	$575K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02535	−0.178%	$69K	$547K	50x	as long as short
Orderly PERP_MON_USDC	+0.0100%	4h	0.02542	+0.097%	$16K	$36K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02541	+0.058%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02546	+0.238%	$58K	$326K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02542	+0.117%	$38K	—	3x	as long as short
01 Exchange MONUSD	+0.0160%	1h	0.02545	+0.231%	$6K	$3K	5x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0231% / S −0.0246%	1h	0.02542	+0.113%	$6K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02543	+0.137%	$1.3M	$376K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02543	+0.140%	$118K	$2.1M	10x	as long as short
Aftermath Perps MONUSD	+0.0561%	1h	0.02533	−0.239%	$4K	$100K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0744%	1h	0.02553	+0.522%	$113K	$54K	50x	as long as short
Kraken Futures PF_MONUSD	+0.0786%	1h	0.02546	+0.245%	$273K	$118K	10x	as long as short