Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0242%/8h= −26.5% APRpaid last 24h −0.078%

Price spread now: Bybit against KuCoin−0.168%7-day average −0.139% · you buy dearer than you sell

Net, funding: paid 7d − costs−$138as in the Funding arb table

Net, price: spread back to 7d avg − costs−$132as in the Price arb table

costs, in and out, $10k−$1291.290% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.088%−$9 on $10k

Price spread, last 7 days+0.168%+$17 · spread now −0.168%, 7d avg −0.139%

Together, before fees+0.080%+$8 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 Bybit is 0.028% cheaper against KuCoin than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.139%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.088% in total (about -4.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MONUSDTM	0.02505	0.0100	pay 0.0050% / 4h	20m 28s	$2.8M	$757K	75x
Short	Bybit MONUSDT	0.02501	−0.0142	pay 0.0142% / 8h	4h 20m	$20.6M	$13.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against KuCoin. 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 KuCoinbpFee BybitbpOrdersPrice spread, now −0.168%Rate

Funding earned: −$50.87
Price spread: −0.168% → −0.139%: −$2.83
Slippage, 4 orders: −$105.98
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$182.67
Costs to cover: 1.290%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; Bybit: live order book, 3 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 KuCoin live order book, 2 min ago	13.96 bp	37.5 bp −$37	922.7 bp −$9,227	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	4.00 bp	9.5 bp −$9	36.9 bp −$369	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
01 Exchange MONUSD	−0.0240%	1h	0.02504	−0.032%	$6K	$1K	5x	as long as short
Backpack MON_USDC_PERP	−0.0190%	1h	0.02504	−0.048%	$113K	$151K	10x	as long as short
Injective MON/USDC PERP	−0.0176%	1h	0.02498	−0.279%	$5K	$112	5.5x	as long as short
Bybit MONUSDTshort	−0.0142%	8h	0.02501	−0.168%	$20.6M	$13.3M	50x
Phoenix MON	0.0000%	1h	0.02505	−0.008%	$12K	$359K	5x	as long as short
Perpl MON	0.0000%	43m	0.02503	−0.092%	$107K	$2.3M	10x	as long as short
Orderly PERP_MON_USDC	+0.0071%	4h	0.02502	−0.120%	$16K	$39K	10x	as long as short
Variational Omni MON	+0.0076%	8h	0.02500	−0.218%	$738K	$409K	—	as long as short
Paradex MON-USD-PERP	+0.0092%	8h	0.02502	−0.115%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02504	−0.040%	$843K	$749K	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	0.02503	−0.068%	$33.8M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02504	−0.031%	$100K	$222K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02508	+0.104%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02503	−0.064%	$138K	$93K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02502	−0.120%	$23.8M	$26.9M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02500	−0.200%	$4.2M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02505	−0.005%	$103K	$5K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02502	−0.120%	$938K	$993K	50x	as long as short
KuCoin MONUSDTMlong	+0.0100%	4h	0.02505	long leg	$2.8M	$757K	75x
Bitget MONUSDT	+0.0100%	4h	0.02504	−0.040%	$2.7M	$2.2M	25x	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02503	−0.062%	$41K	$250K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02506	+0.047%	$562K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02505	0.000%	$67K	$510K	50x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02507	+0.061%	$425K	$573K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02502	−0.120%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02505	+0.015%	$48K	$517K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02501	−0.148%	$38K	—	3x	as long as short
Deribit MON_USDC-PERPETUAL	+0.0110%	1h	0.02503	−0.076%	$74K	$136K	25x	as long as short
Aftermath Perps MONUSD	+0.0255%	1h	0.02505	−0.017%	$2K	$74K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02501	−0.144%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02500	−0.200%	$1.3M	$337K	75x	as long as short
Coinbase International MON-PERP-INTX	+0.0408%	1h	0.02528	+0.930%	$110K	$57K	50x	as long as short
Kraken Futures PF_MONUSD	+0.0544%	1h	0.02505	+0.001%	$269K	$114K	10x	as long as short