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 −0.223%

Price spread now: Gate against Coinbase International−1.216%50s7-day average −0.489% · you buy dearer than you sell

Net, funding: paid 7d − costs−$191as 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−$970.965% of the position

Long on Coinbase International Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.943%−$94 on $10k

Price spread, last 3 days (all we have)+0.889%+$89 · spread now −1.216%, 7d avg −0.489%

Together, before fees−0.054%−$5 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 Gate is 0.727% cheaper against Coinbase International than usual: you would sell low and buy high (−$73 if the spread goes back to its 7-day average of −0.489%). Swap the legs. The two prices were read 50 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	15m 30s	$114K	$49K	50x
Short	Gate MON_USDT	0.02575	0.0100	get 0.0050% / 4h	1h 15m	$999K	$872K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −1.216%Rate

Funding earned: −$91.56
Price spread: −1.216% → −0.489%: −$72.68
Slippage, 4 orders: −$71.55
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$260.79
Costs to cover: 0.965%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; Gate: live order book, 1 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, 2 min ago	15.92 bp	26.0 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	7.76 bp	28.5 bp −$28	306.9 bp −$3,069	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
Bybit MONUSDT	−0.0060%	8h	0.02571	−1.370%	$21.3M	$11.8M	50x	as long as short
Injective MON/USDC PERP	−0.0053%	1h	0.02582	−0.948%	$6K	$108	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02576	−1.189%	$13K	$362K	5x	as long as short
Perpl MON	0.0000%	43m	0.02575	−1.212%	$142K	$1.8M	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02578	−1.109%	$70K	$119K	25x	as long as short
01 Exchange MONUSD	+0.0016%	1h	0.02578	−1.097%	$6K	$1K	5x	as long as short
Aftermath Perps MONUSD	+0.0025%	1h	0.02577	−1.149%	$2K	$73K	10x	as long as short
Orderly PERP_MON_USDC	+0.0067%	4h	0.02574	−1.254%	$17K	$64K	10x	as long as short
Paradex MON-USD-PERP	+0.0085%	8h	0.02575	−1.214%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02577	−1.139%	$854K	$773K	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	−1.065%	$388K	$539K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02578	−1.109%	$34.9M	$7.4M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02576	−1.166%	$108K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02577	−1.146%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02577	−1.139%	$142K	$104K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02575	−1.216%	$24.5M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02572	−1.331%	$4.4M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02578	−1.117%	$108K	$3K	10x	as long as short
Gate MON_USDTshort	+0.0100%	4h	0.02575	−1.216%	$999K	$872K	50x
Bitget MONUSDT	+0.0100%	4h	0.02575	−1.216%	$2.7M	$1.8M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02576	−1.174%	$128K	$140K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02575	−1.228%	$780K	$407K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02574	−1.236%	$47K	$244K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02577	−1.139%	$578K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02576	−1.178%	$69K	$480K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02577	−1.139%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02579	−1.070%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02576	−1.159%	$39K	—	3x	as long as short
Kraken Futures PF_MONUSD	+0.0174%	1h	0.02579	−1.052%	$271K	$78K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0598%	1h	0.02575	−1.208%	$9K	—	50x	as long as short
KuCoin MONUSDTM	+0.0302%	4h	0.02581	−0.986%	$3.2M	$669K	75x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02575	−1.216%	$1.3M	$293K	75x	as long as short
Coinbase International MON-PERP-INTXlong	+0.0536%	1h	0.02607	long leg	$114K	$49K	50x