Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0436%/8h= −47.7% APRpaid last 24h −0.222%

Price spread now: edgeX against Coinbase International−1.020%77s7-day average −0.523% · you buy dearer than you sell

Net, funding: paid 7d − costs−$188as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$960.956% of the position

Long on Coinbase International Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.921%−$92 on $10k

Price spread, last 3 days (all we have)+0.325%+$32 · spread now −1.020%, 7d avg −0.523%

Together, before fees−0.596%+ Points / potential airdropedgeX: Active · farm board−$60 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and edgeX is 0.497% cheaper against Coinbase International than usual: you would sell low and buy high (−$50 if the spread goes back to its 7-day average of −0.523%). Swap the legs. The two prices were read 77 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MON-PERP-INTX	0.02607	0.0536	pay 0.0067% / 1h	54m 09s	$114K	$50K	50x
Short	edgeX MONUSDC	0.02580	0.0100	get 0.0050% / 4h	1h 54m	$47K	$242K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Coinbase International. 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 Coinbase InternationalbpFee edgeXbpOrdersPrice spread, now −1.020%Rate

Funding earned: −$91.56
Price spread: −1.020% → −0.523%: −$49.7
Slippage, 4 orders: −$76.57
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$236.83
Costs to cover: 0.956%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 29 min ago; edgeX: live order book, 28 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, 29 min ago	16.34 bp	31.4 bp −$31	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 28 min ago	9.61 bp	20.8 bp −$21	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
01 Exchange MONUSD	−0.0344%	1h	0.02599	−0.311%	$6K	$1K	5x	as long as short
Deribit MON_USDC-PERPETUAL	−0.0097%	1h	0.02595	−0.464%	$70K	$119K	25x	as long as short
Injective MON/USDC PERP	−0.0053%	1h	0.02582	−0.948%	$6K	$107	5.5x	as long as short
Bybit MONUSDT	−0.0029%	8h	0.02591	−0.587%	$21.6M	$11.8M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02582	−0.936%	$13K	$362K	5x	as long as short
Perpl MON	0.0000%	43m	0.02596	−0.410%	$145K	$1.8M	10x	as long as short
Aftermath Perps MONUSD	+0.0030%	1h	0.02589	−0.661%	$2K	$73K	10x	as long as short
Paradex MON-USD-PERP	+0.0066%	8h	0.02596	−0.419%	$8K	$42	5x	as long as short
Orderly PERP_MON_USDC	+0.0075%	4h	0.02594	−0.487%	$17K	$64K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02594	−0.487%	$848K	$760K	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	0.02600	−0.257%	$35.0M	$7.4M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02596	−0.417%	$108K	$233K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02598	−0.340%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02596	−0.422%	$143K	$106K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02594	−0.497%	$24.6M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02590	−0.641%	$4.4M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02580	−1.026%	$108K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02595	−0.449%	$1.0M	$862K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02595	−0.449%	$2.8M	$1.8M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02588	−0.707%	$779K	$411K	—	as long as short
edgeX MONUSDCshort	+0.0100%	4h	0.02580	−1.020%	$47K	$242K	10x
GRVT MON_USDT_Perp	+0.0100%	4h	0.02586	−0.788%	$582K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02587	−0.756%	$69K	$480K	50x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02602	−0.185%	$389K	$535K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02593	−0.526%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02600	−0.266%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02592	−0.556%	$39K	—	3x	as long as short
Kraken Futures PF_MONUSD	+0.0172%	1h	0.02597	−0.380%	$268K	$67K	10x	as long as short
BloFin MON-USDT	+0.0185%	4h	0.02595	−0.449%	$1.4M	$295K	75x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02595	−0.449%	$9K	—	50x	as long as short
KuCoin MONUSDTM	+0.0336%	4h	0.02602	−0.180%	$3.2M	$747K	75x	as long as short
Backpack MON_USDC_PERP	+0.0516%	1h	0.02598	−0.318%	$139K	$137K	10x	as long as short
Coinbase International MON-PERP-INTXlong	+0.0536%	1h	0.02607	long leg	$114K	$50K	50x