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: Bulk against Pacifica+0.387%7-day average −0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

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

Long on Pacifica Short on Bulk

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)−0.800%−$80 · spread now +0.387%, 7d avg −0.036%

Together, before fees−0.800%+ 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: Bulk is 0.423% dearer against Pacifica than usual: you sell high and buy low, +$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	Pacifica MON	0.02505	0.0100	pay 0.0013% / 1h	49m 13s	$138K	$93K	3x
Short	Bulk MON-USD	0.02515	0.0100	get 0.0013% / 1h	49m 13s	$103K	$5K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Pacifica. 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 PacificabpFee BulkbpOrdersPrice spread, now +0.387%Rate

Funding earned: $0
Price spread: +0.387% → −0.036%: $42.26
Slippage, 4 orders: −$105.48
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$78.22
Costs to cover: 1.205%
Break-even: never at this rate

Slippage from Pacifica: live order book, 8 min ago; Bulk: live order book, 10 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 Pacifica live order book, 8 min ago	5.97 bp	15.5 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Bulk live order book, 10 min ago	19.80 bp	45.0 bp −$45	81.7 bp −$817	179.7 bp −$18.0K	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	−0.140%	$74K	$134K	25x	as long as short
01 Exchange MONUSD	−0.0448%	1h	0.02497	−0.303%	$6K	$1K	5x	as long as short
Backpack MON_USDC_PERP	−0.0407%	1h	0.02503	−0.084%	$112K	$151K	10x	as long as short
Injective MON/USDC PERP	−0.0176%	1h	0.02517	+0.479%	$5K	$109	5.5x	as long as short
Bybit MONUSDT	−0.0149%	8h	0.02499	−0.259%	$20.6M	$13.2M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02510	+0.192%	$12K	$359K	5x	as long as short
Perpl MON	0.0000%	43m	0.02506	+0.052%	$107K	$2.3M	10x	as long as short
Orderly PERP_MON_USDC	+0.0075%	4h	0.02501	−0.160%	$16K	$41K	10x	as long as short
Paradex MON-USD-PERP	+0.0088%	8h	0.02505	−0.015%	$8K	$42	5x	as long as short
Variational Omni MON	+0.0095%	8h	0.02507	+0.062%	$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	−0.120%	$834K	$736K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02508	+0.108%	$432K	$556K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02502	−0.124%	$33.8M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02507	+0.074%	$101K	$222K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02507	+0.082%	$13K	—	5x	as long as short
Pacifica MONlong	+0.0100%	1h	0.02505	long leg	$138K	$93K	3x
Binance MONUSDT	+0.0100%	4h	0.02500	−0.200%	$23.8M	$26.7M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02499	−0.240%	$4.2M	$5.9M	50x	as long as short
Bulk MON-USDshort	+0.0100%	1h	0.02515	+0.387%	$103K	$5K	10x
Gate MON_USDT	+0.0100%	4h	0.02500	−0.200%	$947K	$974K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02502	−0.120%	$2.8M	$747K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02501	−0.160%	$2.7M	$2.1M	25x	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02514	+0.370%	$41K	$250K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02516	+0.439%	$563K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02511	+0.240%	$68K	$505K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02499	−0.240%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02503	−0.095%	$52K	$517K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02501	−0.172%	$38K	—	3x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02505	+0.008%	$9K	—	50x	as long as short
Aftermath Perps MONUSD	+0.0279%	1h	0.02515	+0.384%	$2K	$74K	10x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02492	−0.519%	$1.3M	$336K	75x	as long as short
Coinbase International MON-PERP-INTX	+0.0408%	1h	0.02514	+0.339%	$110K	$57K	50x	as long as short
Kraken Futures PF_MONUSD	+0.0544%	1h	0.02504	−0.046%	$268K	$116K	10x	as long as short