Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0340%/8h= −37.2% APRpaid last 24h −0.005%

Price spread now: Deribit against BloFin+0.143%7-day average +0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$530.535% of the position

Long on BloFin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.152%−$15 on $10k

Price spread, last 4 days (all we have)−0.123%−$12 · spread now +0.143%, 7d avg +0.019%

Together, before fees−0.275%−$28 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.124% dearer against BloFin than usual: you sell high and buy low (spread +0.143% now, against its 7-day average of +0.019%): +$12 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 29 hours. At the pace of the last 7 days (−0.152% in total) that is about 5.5 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.152% in total (about -8.1% 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	BloFin MON-USDT	0.02516	0.0340	pay 0.0170% / 4h	0m 56s	$1.3M	$339K	75x
Short	Deribit MON_USDC-PERPETUAL	0.02520	0	get 0.0000% / 1h	0m 56s	$74K	$136K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BloFin. 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 BloFinbpFee DeribitbpOrdersPrice spread, now +0.143%Rate

Funding earned: −$71.4
Price spread: +0.143% → +0.019%: $12.36
Slippage, 4 orders: −$34.46
Fee BloFin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$112.5
Costs to cover: 0.535%
Break-even: never at this rate

Slippage from BloFin: live order book, 2 min ago; Deribit: live order book, 33 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 BloFin live order book, 2 min ago	1.99 bp	8.2 bp −$8	26.3 bp −$263	doesn't fit	doesn't fit
Sell Deribit live order book, 33 min ago	9.20 bp	12.7 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	−0.0176%	1h	0.02507	−0.358%	$5K	$114	5.5x	as long as short
01 Exchange MONUSD	−0.0144%	1h	0.02522	+0.231%	$6K	$1K	5x	as long as short
Bybit MONUSDT	−0.0099%	8h	0.02518	+0.091%	$20.8M	$13.3M	50x	as long as short
Backpack MON_USDC_PERP	−0.0087%	1h	0.02522	+0.242%	$114K	$151K	10x	as long as short
Phoenix MON	0.0000%	1h	0.02517	+0.028%	$12K	$359K	5x	as long as short
Deribit MON_USDC-PERPETUALshort	0.0000%	1h	0.02520	+0.143%	$74K	$136K	25x
Orderly PERP_MON_USDC	+0.0072%	4h	0.02520	+0.159%	$16K	$34K	10x	as long as short
Paradex MON-USD-PERP	+0.0095%	8h	0.02519	+0.129%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02521	+0.199%	$849K	$749K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02522	+0.242%	$34.0M	$7.5M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster MONUSDT	+0.0100%	4h	0.02521	+0.181%	$101K	$222K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02520	+0.149%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02521	+0.195%	$139K	$93K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02519	+0.133%	$24.0M	$26.9M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02519	+0.119%	$4.2M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02510	−0.238%	$103K	$5K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02521	+0.199%	$945K	$994K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02524	+0.318%	$2.9M	$758K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02522	+0.238%	$2.7M	$2.2M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02519	+0.102%	$745K	$410K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02516	+0.015%	$41K	$251K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02519	+0.117%	$564K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02517	+0.040%	$68K	$512K	50x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02522	+0.251%	$426K	$578K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02519	+0.119%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02522	+0.256%	$49K	$519K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02518	+0.099%	$38K	—	3x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02519	+0.131%	$9K	—	50x	as long as short
Aftermath Perps MONUSD	+0.0272%	1h	0.02516	+0.015%	$2K	$74K	10x	as long as short
BloFin MON-USDTlong	+0.0340%	4h	0.02516	long leg	$1.3M	$339K	75x
Coinbase International MON-PERP-INTX	+0.0408%	1h	0.02518	+0.083%	$110K	$57K	50x	as long as short
Perpl MON	+0.0447%	43m	0.02522	+0.231%	$114K	$2.3M	10x	as long as short
Kraken Futures PF_MONUSD	+0.0540%	1h	0.02522	+0.252%	$271K	$115K	10x	as long as short