Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0548%/8h= −60.0% APRpaid last 24h −0.222%

Price spread now: Bitget against Coinbase International−0.322%7-day average −0.444% · you buy dearer than you sell

Net, funding: paid 7d − costs−$194as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$990.986% of the position

Long on Coinbase International Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.958%−$96 on $10k

Price spread, last 3 days (all we have)−0.341%−$34 · spread now −0.322%, 7d avg −0.444%

Together, before fees−1.298%−$130 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.122% dearer against Coinbase International than usual: you sell high and buy low (spread −0.322% now, against its 7-day average of −0.444%): +$12 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 18 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MON-PERP-INTX	0.02607	0.0648	pay 0.0081% / 1h	17m 37s	$115K	$50K	50x
Short	Bitget MONUSDT	0.02599	0.0100	get 0.0050% / 4h	2h 17m	$2.8M	$1.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Coinbase International. 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 Coinbase InternationalbpFee BitgetbpOrdersPrice spread, now −0.322%Rate

Funding earned: −$115.08
Price spread: −0.322% → −0.444%: $12.2
Slippage, 4 orders: −$76.64
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$201.51
Costs to cover: 0.986%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; Bitget: live order book, 5 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 Coinbase International live order book, 5 min ago	16.34 bp	31.4 bp −$31	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	3.84 bp	22.5 bp −$22	63.7 bp −$637	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	−0.0739%	1h	0.02596	−0.437%	$6K	$109	5.5x	as long as short
Deribit MON_USDC-PERPETUAL	−0.0250%	1h	0.02599	−0.326%	$63K	$110K	25x	as long as short
01 Exchange MONUSD	−0.0224%	1h	0.02596	−0.453%	$6K	$1K	5x	as long as short
Phoenix MON	0.0000%	1h	0.02600	−0.268%	$14K	$384K	5x	as long as short
Bybit MONUSDT	+0.0001%	8h	0.02595	−0.476%	$21.6M	$11.8M	50x	as long as short
BloFin MON-USDT	+0.0077%	4h	0.02598	−0.361%	$1.4M	$245K	75x	as long as short
Orderly PERP_MON_USDC	+0.0091%	4h	0.02598	−0.361%	$17K	$64K	10x	as long as short
Paradex MON-USD-PERP	+0.0095%	8h	0.02597	−0.416%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02598	−0.361%	$853K	$758K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02602	−0.207%	$375K	$528K	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	0.02601	−0.261%	$35.0M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02597	−0.396%	$108K	$233K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02599	−0.306%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02597	−0.399%	$143K	$106K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02597	−0.399%	$24.7M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02595	−0.476%	$4.4M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02602	−0.207%	$109K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02598	−0.361%	$1.0M	$934K	50x	as long as short
Bitget MONUSDTshort	+0.0100%	4h	0.02599	−0.322%	$2.8M	$1.8M	25x
Variational Omni MON	+0.0100%	8h	0.02598	−0.366%	$783K	$411K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02597	−0.384%	$48K	$243K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02598	−0.359%	$585K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02602	−0.207%	$69K	$481K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02597	−0.399%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02602	−0.211%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02597	−0.403%	$39K	—	3x	as long as short
Kraken Futures PF_MONUSD	+0.0131%	1h	0.02601	−0.239%	$268K	$67K	10x	as long as short
Aftermath Perps MONUSD	+0.0172%	1h	0.02599	−0.341%	$2K	$73K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02600	−0.303%	$9K	—	50x	as long as short
Backpack MON_USDC_PERP	+0.0305%	1h	0.02598	−0.349%	$138K	$136K	10x	as long as short
KuCoin MONUSDTM	+0.0386%	4h	0.02602	−0.207%	$3.2M	$746K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02598	−0.361%	$146K	$1.8M	10x	as long as short
Coinbase International MON-PERP-INTXlong	+0.0648%	1h	0.02607	long leg	$115K	$50K	50x