Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0140%/8h= +15.3% APRpaid last 24h +0.207%

Price spread now: Coinbase International against BloFin+1.672%58s7-day average +0.460% · you sell dearer than you buy

Net, funding: paid 7d − costs−$8as 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−$820.821% of the position

Long on BloFin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.745%+$75 on $10k

Price spread, last 3 days (all we have)−1.431%−$143 · spread now +1.672%, 7d avg +0.460%

Together, before fees−0.686%−$69 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Coinbase International is 1.212% dearer against BloFin than usual: you sell high and buy low: +$121 more if the spread goes back to its 7-day average of +0.460%. The two prices were read 58 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	BloFin MON-USDT	0.02566	0.0340	pay 0.0170% / 4h	24m 09s	$1.4M	$308K	75x
Short	Coinbase International MON-PERP-INTX	0.02609	0.0480	get 0.0060% / 1h	24m 09s	$115K	$50K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BloFin. 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 BloFinbpFee Coinbase InternationalbpOrdersPrice spread, now +1.672%Rate

Funding earned: $29.4
Price spread: +1.672% → +0.460%: $121.17
Slippage, 4 orders: −$60.14
Fee BloFin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $68.43
Costs to cover: 0.821%
Break-even: from the start

Slippage from BloFin: live order book, 3 min ago; Coinbase International: live order book, 54 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 BloFin live order book, 3 min ago	5.84 bp	17.4 bp −$17	31.2 bp −$312	doesn't fit	doesn't fit
Sell Coinbase International live order book, 54 min ago	15.92 bp	20.9 bp −$21	doesn't fit	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	−0.0121%	1h	0.02576	+0.390%	$6K	$107	5.5x	as long as short
01 Exchange MONUSD	−0.0064%	1h	0.02563	−0.113%	$6K	$1K	5x	as long as short
Bybit MONUSDT	−0.0028%	8h	0.02559	−0.257%	$21.2M	$12.1M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02568	+0.078%	$13K	$360K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02563	−0.129%	$69K	$119K	25x	as long as short
Orderly PERP_MON_USDC	+0.0068%	4h	0.02562	−0.156%	$17K	$64K	10x	as long as short
Paradex MON-USD-PERP	+0.0095%	8h	0.02562	−0.138%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02564	−0.078%	$851K	$794K	10x	as long as short
Aftermath Perps MONUSD	+0.0097%	1h	0.02570	+0.172%	$3K	$75K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02569	+0.104%	$392K	$544K	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	0.02566	+0.016%	$34.8M	$7.6M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02565	−0.058%	$107K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02567	+0.046%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02566	−0.019%	$142K	$105K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02561	−0.180%	$24.4M	$25.4M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02560	−0.234%	$4.3M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02570	+0.156%	$108K	$390	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02563	−0.117%	$975K	$909K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02564	−0.078%	$2.7M	$1.9M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02563	−0.121%	$127K	$141K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02566	−0.011%	$776K	$408K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02569	+0.098%	$47K	$242K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02571	+0.189%	$582K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02572	+0.234%	$69K	$481K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02562	−0.156%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02567	+0.056%	$51K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02562	−0.171%	$39K	—	3x	as long as short
KuCoin MONUSDTM	+0.0254%	4h	0.02569	+0.117%	$3.0M	$717K	75x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0598%	1h	0.02562	−0.140%	$8K	—	50x	as long as short
BloFin MON-USDTlong	+0.0340%	4h	0.02566	long leg	$1.4M	$308K	75x
Kraken Futures PF_MONUSD	+0.0421%	1h	0.02566	+0.004%	$269K	$78K	10x	as long as short
Perpl MON	+0.0447%	43m	0.02565	−0.023%	$125K	$1.8M	10x	as long as short
Coinbase International MON-PERP-INTXshort	+0.0480%	1h	0.02609	+1.672%	$115K	$50K	50x