Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0134%/8h= +14.7% APRpaid last 24h −0.020%

Price spread now: GRVT against Bybit+0.258%7-day average +0.166% · you sell dearer than you buy

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$1011.006% of the position

Long on Bybit Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.109%+$11 on $10k

Price spread, last 3 days (all we have)−0.035%−$3 · spread now +0.258%, 7d avg +0.166%

Together, before fees+0.074%+ Points / potential airdropGRVT: Active · farm board+$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and GRVT is 0.092% dearer against Bybit than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.166%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MONUSDT	0.02572	−0.0034	get 0.0034% / 8h	32m 53s	$21.3M	$12.0M	50x
Short	GRVT MON_USDT_Perp	0.02579	0.0100	get 0.0050% / 4h	32m 53s	$584K	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Bybit. 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 BybitbpFee GRVTbpOrdersPrice spread, now +0.258%Rate

Funding earned: $28.13
Price spread: +0.258% → +0.166%: $9.2
Slippage, 4 orders: −$80.57
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$63.24
Costs to cover: 1.006%
Break-even: 22.7 days

Slippage from Bybit: live order book, 1 min ago; GRVT: live order book, just now.

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 Bybit live order book, 1 min ago	1.94 bp	16.0 bp −$16	58.2 bp −$582	doesn't fit	doesn't fit
Sell GRVT live order book, just now	3.88 bp	24.2 bp −$24	70.2 bp −$702	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	+0.156%	$6K	$107	5.5x	as long as short
01 Exchange MONUSD	−0.0056%	1h	0.02575	+0.128%	$6K	$1K	5x	as long as short
Bybit MONUSDTlong	−0.0034%	8h	0.02572	long leg	$21.3M	$12.0M	50x
Phoenix MON	0.0000%	1h	0.02578	+0.233%	$13K	$360K	5x	as long as short
Perpl MON	0.0000%	43m	0.02578	+0.237%	$126K	$1.8M	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02577	+0.183%	$70K	$119K	25x	as long as short
Orderly PERP_MON_USDC	+0.0069%	4h	0.02574	+0.078%	$17K	$64K	10x	as long as short
Aftermath Perps MONUSD	+0.0088%	1h	0.02580	+0.317%	$2K	$75K	10x	as long as short
Paradex MON-USD-PERP	+0.0094%	8h	0.02574	+0.060%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02576	+0.156%	$855K	$793K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado MON-PERP	+0.0100%	1h	0.02579	+0.280%	$393K	$544K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02577	+0.198%	$34.9M	$7.6M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02575	+0.116%	$108K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02575	+0.113%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02575	+0.109%	$142K	$105K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02574	+0.078%	$24.5M	$25.4M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02574	+0.078%	$4.3M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02585	+0.500%	$108K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02573	+0.039%	$980K	$909K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02575	+0.117%	$2.7M	$1.8M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02575	+0.109%	$128K	$141K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02576	+0.163%	$779K	$408K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02579	+0.267%	$47K	$244K	10x	as long as short
GRVT MON_USDT_Perpshort	+0.0100%	4h	0.02579	+0.258%	$584K	$1.5M	10x
ApeX Omni MONUSDT	+0.0100%	1h	0.02576	+0.156%	$69K	$481K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02574	+0.078%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02576	+0.158%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02576	+0.159%	$39K	—	3x	as long as short
KuCoin MONUSDTM	+0.0260%	4h	0.02579	+0.272%	$3.0M	$716K	75x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0598%	1h	0.02576	+0.148%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02572	0.000%	$1.4M	$308K	75x	as long as short
Kraken Futures PF_MONUSD	+0.0419%	1h	0.02578	+0.222%	$271K	$78K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0480%	1h	0.02609	+1.435%	$115K	$50K	50x	as long as short