Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0236%/8h= −25.8% APRpaid last 24h −0.047%

Price spread now: Extended against BloFin−0.333%74s7-day average +0.092% · you buy dearer than you sell

Net, funding: paid 7d − costs−$105as 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−$880.875% of the position

Long on BloFin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.176%−$18 on $10k

Price spread, last 4 days (all we have)−0.464%−$46 · spread now −0.333%, 7d avg +0.092%

Together, before fees−0.640%+ Points / potential airdropExtended: Active · farm board−$64 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Extended is 0.425% cheaper against BloFin than usual: you would sell low and buy high (−$43 if the spread goes back to its 7-day average of +0.092%). Swap the legs. The two prices were read 74 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	0.02562	0.0340	pay 0.0170% / 4h	2h 55m	$1.4M	$401K	75x
Short	Extended MON-USD	0.02553	0.0104	get 0.0013% / 1h	55m 56s	$61K	$329K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.333%Rate

Funding earned: −$49.56
Price spread: −0.333% → +0.092%: −$42.55
Slippage, 4 orders: −$70.5
Fee BloFin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$179.61
Costs to cover: 0.875%
Break-even: never at this rate

Slippage from BloFin: live order book, 7 min ago; Extended: live order book, 36 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, 7 min ago	7.82 bp	13.8 bp −$14	26.5 bp −$265	doesn't fit	doesn't fit
Sell Extended live order book, 36 min ago	6.01 bp	28.1 bp −$28	273.9 bp −$2,739	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
Backpack MON_USDC_PERP	−0.0051%	1h	0.02553	−0.367%	$113K	$152K	10x	as long as short
Phoenix MON	0.0000%	1h	0.02557	−0.215%	$14K	$307K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02553	−0.359%	$73K	$133K	25x	as long as short
Injective MON/USDC PERP	+0.0033%	1h	0.02505	−2.225%	$5K	$104	5.5x	as long as short
Lighter MON	+0.0096%	1h	0.02554	−0.312%	$833K	$759K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02557	−0.196%	$8K	$42	5x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02553	−0.343%	$34.4M	$6.6M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02553	−0.354%	$101K	$202K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02553	−0.338%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02557	−0.180%	$142K	$89K	3x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance MONUSDT	+0.0100%	4h	0.02550	−0.468%	$24.6M	$26.8M	75x	as long as short
Bybit MONUSDT	+0.0100%	8h	0.02548	−0.546%	$21.3M	$13.5M	50x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02548	−0.546%	$4.3M	$6.1M	50x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02554	−0.312%	$1.1M	$1.1M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02552	−0.390%	$2.9M	$763K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02553	−0.351%	$2.8M	$2.3M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02549	−0.527%	$757K	$375K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02555	−0.261%	$42K	$250K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02557	−0.180%	$580K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02557	−0.195%	$69K	$545K	50x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02553	−0.344%	$392K	$578K	10x	as long as short
Orderly PERP_MON_USDC	+0.0100%	4h	0.02554	−0.312%	$16K	$36K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02552	−0.390%	$5K	$6K	5x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02555	−0.273%	$105K	−$0	10x	as long as short
Extended MON-USDshort	+0.0104%	1h	0.02553	−0.333%	$61K	$329K	10x
Aevo MON-PERP	+0.0104%	1h	0.02550	−0.449%	$39K	—	3x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0231% / S −0.0246%	1h	0.02553	−0.340%	$7K	—	50x	as long as short
01 Exchange MONUSD	+0.0232%	1h	0.02553	−0.332%	$6K	$3K	5x	as long as short
BloFin MON-USDTlong	+0.0340%	4h	0.02562	long leg	$1.4M	$401K	75x
Perpl MON	+0.0447%	43m	0.02554	−0.312%	$118K	$2.1M	10x	as long as short
Aftermath Perps MONUSD	+0.0647%	1h	0.02557	−0.203%	$4K	$97K	10x	as long as short
Kraken Futures PF_MONUSD	+0.0669%	1h	0.02554	−0.298%	$274K	$117K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0800%	1h	0.02575	+0.511%	$114K	$53K	50x	as long as short