Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.024%

Price spread now: Deribit against Binance+0.097%7-day average +0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$580.580% of the position

Long on Binance Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.027%+$3 on $10k

Price spread, last 3 days (all we have)+0.112%+$11 · spread now +0.097%, 7d avg +0.039%

Together, before fees+0.139%+$14 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.058% dearer against Binance than usual: you sell high and buy low (spread +0.097% now, against its 7-day average of +0.039%): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 47 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MONUSDT	0.02571	0.0100	pay 0.0050% / 4h	32m 09s	$24.5M	$25.4M	75x
Short	Deribit MON_USDC-PERPETUAL	0.02574	0	get 0.0000% / 1h	32m 09s	$69K	$119K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Binance. 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 BinancebpFee DeribitbpOrdersPrice spread, now +0.097%Rate

Funding earned: −$21
Price spread: +0.097% → +0.039%: $5.83
Slippage, 4 orders: −$40.99
Fee Binance: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$73.17
Costs to cover: 0.580%
Break-even: never at this rate

Slippage from Binance: live order book, 9 min ago; Deribit: live order book, 22 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 Binance live order book, 9 min ago	1.93 bp	18.8 bp −$19	55.1 bp −$551	475.5 bp −$47.5K	doesn't fit
Sell Deribit live order book, 22 min ago	9.67 bp	13.2 bp −$13	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
Injective MON/USDC PERP	−0.0121%	1h	0.02576	+0.194%	$6K	$107	5.5x	as long as short
01 Exchange MONUSD	−0.0056%	1h	0.02575	+0.167%	$6K	$1K	5x	as long as short
Bybit MONUSDT	−0.0032%	8h	0.02569	−0.078%	$21.3M	$12.0M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02578	+0.272%	$13K	$360K	5x	as long as short
Perpl MON	0.0000%	43m	0.02577	+0.218%	$126K	$1.8M	10x	as long as short
Deribit MON_USDC-PERPETUALshort	0.0000%	1h	0.02574	+0.097%	$69K	$119K	25x
Orderly PERP_MON_USDC	+0.0069%	4h	0.02574	+0.117%	$17K	$64K	10x	as long as short
Aftermath Perps MONUSD	+0.0089%	1h	0.02579	+0.322%	$2K	$75K	10x	as long as short
Paradex MON-USD-PERP	+0.0094%	8h	0.02573	+0.093%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02573	+0.078%	$854K	$793K	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	0.02579	+0.303%	$34.9M	$7.6M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02576	+0.178%	$108K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02575	+0.152%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02575	+0.167%	$142K	$105K	3x	as long as short
Binance MONUSDTlong	+0.0100%	4h	0.02571	long leg	$24.5M	$25.4M	75x
OKX MON-USDT-SWAP	+0.0100%	4h	0.02568	−0.117%	$4.3M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02585	+0.539%	$108K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02575	+0.156%	$981K	$909K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02573	+0.078%	$2.7M	$1.8M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02574	+0.101%	$128K	$141K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02576	+0.202%	$779K	$408K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02579	+0.306%	$47K	$244K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02579	+0.297%	$584K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02576	+0.194%	$69K	$481K	50x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02578	+0.284%	$393K	$544K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02572	+0.039%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02578	+0.263%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02573	+0.082%	$39K	—	3x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0598%	1h	0.02576	+0.175%	$9K	—	50x	as long as short
KuCoin MONUSDTM	+0.0266%	4h	0.02579	+0.311%	$3.0M	$716K	75x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02572	+0.039%	$1.4M	$308K	75x	as long as short
Kraken Futures PF_MONUSD	+0.0420%	1h	0.02575	+0.139%	$270K	$78K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0480%	1h	0.02609	+1.474%	$115K	$50K	50x	as long as short