Funding arb · Price arb /

MON

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.026%

Price spread now: Hyperliquid against KuCoin+0.016%7-day average +0.065% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.197%+$20 on $10k

Price spread, last 7 days+0.039%+$4 · spread now +0.016%, 7d avg +0.065%

Together, before fees+0.236%+ Points / potential airdropHyperliquid: Season 2 · farm board+$24 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: Hyperliquid is 0.049% cheaper against KuCoin than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.065%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MONUSDTM	0.02538	0.0100	pay 0.0050% / 4h	1h 33m	$2.9M	$742K	75x
Short	Hyperliquid MON	0.02538	0.0100	get 0.0013% / 1h	33m 04s	$34.4M	$7.4M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 HyperliquidbpOrdersPrice spread, now +0.016%Rate

Funding earned: $0
Price spread: +0.016% → +0.065%: −$4.9
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$25.9
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 4 min ago; Hyperliquid: live order book, 10 min ago. Net counts fees only.

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, 4 min ago	15.78 bp	42.4 bp −$42	896.2 bp −$8,962	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 10 min ago	0.98 bp	10.1 bp −$10	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
Phoenix MON	−0.0316%	1h	0.02527	−0.437%	$13K	$367K	5x	as long as short
Injective MON/USDC PERP	−0.0253%	1h	0.02535	−0.118%	$6K	$111	5.5x	as long as short
Backpack MON_USDC_PERP	−0.0252%	1h	0.02538	0.000%	$114K	$151K	10x	as long as short
Bybit MONUSDT	−0.0155%	8h	0.02532	−0.256%	$20.7M	$12.9M	50x	as long as short
01 Exchange MONUSD	−0.0008%	1h	0.02535	−0.102%	$6K	$1K	5x	as long as short
Perpl MON	0.0000%	43m	0.02536	−0.071%	$105K	$2.3M	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02536	−0.067%	$68K	$125K	25x	as long as short
Orderly PERP_MON_USDC	+0.0083%	4h	0.02536	−0.079%	$16K	$51K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02538	0.000%	$846K	$738K	10x	as long as short
Paradex MON-USD-PERP	+0.0099%	8h	0.02535	−0.131%	$8K	$42	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid MONshort	+0.0100%	1h	0.02538	+0.016%	$34.4M	$7.4M	5x
Aster MONUSDT	+0.0100%	4h	0.02536	−0.094%	$101K	$229K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02530	−0.296%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02533	−0.197%	$140K	$93K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02535	−0.118%	$24.2M	$26.1M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02533	−0.197%	$4.2M	$5.8M	50x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02535	−0.118%	$955K	$926K	50x	as long as short
KuCoin MONUSDTMlong	+0.0100%	4h	0.02538	long leg	$2.9M	$742K	75x
Bitget MONUSDT	+0.0100%	4h	0.02535	−0.118%	$2.7M	$2.0M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02531	−0.295%	$752K	$405K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02535	−0.122%	$42K	$250K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02538	−0.002%	$568K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02536	−0.079%	$68K	$501K	50x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02537	−0.050%	$408K	$541K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02536	−0.079%	$5K	$6K	5x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02530	−0.315%	$105K	$4K	10x	as long as short
Extended MON-USD	+0.0104%	1h	0.02538	−0.007%	$50K	$516K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02535	−0.099%	$38K	—	3x	as long as short
Aftermath Perps MONUSD	+0.0247%	1h	0.02532	−0.222%	$2K	$74K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02536	−0.087%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02536	−0.079%	$1.3M	$321K	75x	as long as short
Kraken Futures PF_MONUSD	+0.0490%	1h	0.02538	−0.003%	$270K	$100K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0536%	1h	0.02538	−0.020%	$111K	$52K	50x	as long as short