Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Pacifica against Bulk−0.385%7-day average +0.036% · 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−$163as in the Price arb table

costs, in and out, $10k−$1201.205% of the position

Long on Bulk Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.799%+$80 · spread now −0.385%, 7d avg +0.036%

Together, before fees+0.799%+ Points / potential airdropPacifica: Active · farm board+$80 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: Pacifica is 0.421% cheaper against Bulk than usual: you would sell low and buy high, −$42 on $10k if it goes back to its 7-day average of +0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk MON-USD	0.02515	0.0100	pay 0.0013% / 1h	48m 58s	$103K	$5K	10x
Short	Pacifica MON	0.02505	0.0100	get 0.0013% / 1h	48m 58s	$138K	$93K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Bulk. 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 BulkbpFee PacificabpOrdersPrice spread, now −0.385%Rate

Funding earned: $0
Price spread: −0.385% → +0.036%: −$42.11
Slippage, 4 orders: −$105.48
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$162.59
Costs to cover: 1.205%
Break-even: never at this rate

Slippage from Bulk: live order book, 10 min ago; Pacifica: live order book, 9 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 Bulk live order book, 10 min ago	19.80 bp	23.3 bp −$23	32.8 bp −$328	180.9 bp −$18.1K	doesn't fit
Sell Pacifica live order book, 9 min ago	5.97 bp	36.7 bp −$37	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
Deribit MON_USDC-PERPETUAL	−0.0509%	1h	0.02501	−0.524%	$74K	$134K	25x	as long as short
01 Exchange MONUSD	−0.0448%	1h	0.02497	−0.688%	$6K	$1K	5x	as long as short
Backpack MON_USDC_PERP	−0.0407%	1h	0.02503	−0.469%	$112K	$151K	10x	as long as short
Injective MON/USDC PERP	−0.0176%	1h	0.02517	+0.092%	$5K	$109	5.5x	as long as short
Bybit MONUSDT	−0.0149%	8h	0.02500	−0.584%	$20.6M	$13.2M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02510	−0.194%	$12K	$359K	5x	as long as short
Perpl MON	0.0000%	43m	0.02506	−0.334%	$107K	$2.3M	10x	as long as short
Orderly PERP_MON_USDC	+0.0075%	4h	0.02501	−0.544%	$16K	$41K	10x	as long as short
Paradex MON-USD-PERP	+0.0088%	8h	0.02505	−0.400%	$8K	$42	5x	as long as short
Variational Omni MON	+0.0095%	8h	0.02507	−0.323%	$743K	$407K	—	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MON	+0.0096%	1h	0.02502	−0.505%	$834K	$736K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02508	−0.278%	$432K	$556K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02502	−0.509%	$33.8M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02504	−0.424%	$100K	$222K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02507	−0.304%	$13K	—	5x	as long as short
Pacifica MONshort	+0.0100%	1h	0.02505	−0.385%	$138K	$93K	3x
Binance MONUSDT	+0.0100%	4h	0.02500	−0.584%	$23.8M	$26.7M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02500	−0.584%	$4.2M	$5.9M	50x	as long as short
Bulk MON-USDlong	+0.0100%	1h	0.02515	long leg	$103K	$5K	10x
Gate MON_USDT	+0.0100%	4h	0.02500	−0.584%	$947K	$974K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02502	−0.505%	$2.8M	$747K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02504	−0.425%	$2.7M	$2.1M	25x	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02514	−0.017%	$41K	$250K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02516	+0.052%	$563K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02511	−0.147%	$68K	$505K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02499	−0.624%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02502	−0.496%	$52K	$517K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02501	−0.556%	$38K	—	3x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02505	−0.377%	$9K	—	50x	as long as short
Aftermath Perps MONUSD	+0.0279%	1h	0.02515	−0.002%	$2K	$74K	10x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02492	−0.902%	$1.3M	$336K	75x	as long as short
Coinbase International MON-PERP-INTX	+0.0408%	1h	0.02514	−0.047%	$110K	$57K	50x	as long as short
Kraken Futures PF_MONUSD	+0.0544%	1h	0.02504	−0.431%	$268K	$116K	10x	as long as short