Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0356%/8h= −39.0% APRpaid last 24h −0.205%

Price spread now: GRVT against Coinbase International−1.383%7-day average −0.455% · you buy dearer than you sell

Net, funding: paid 7d − costs−$460as in the Funding arb table

Net, price: spread back to 7d avg − costs−$459as in the Price arb table

costs, in and out, $10k−$3663.662% of the position

Long on Coinbase International Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.936%−$94 on $10k

Price spread, last 4 days (all we have)+0.849%+$85 · spread now −1.383%, 7d avg −0.455%

Together, before fees−0.088%+ Points / potential airdropGRVT: Active · farm board−$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and GRVT is 0.928% cheaper against Coinbase International than usual: you would sell low and buy high (−$93 if the spread goes back to its 7-day average of −0.455%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MON-PERP-INTX	0.02530	0.0456	pay 0.0057% / 1h	43m 03s	$110K	$55K	50x
Short	GRVT MON_USDT_Perp	0.02495	0.0100	get 0.0050% / 4h	2h 43m	$562K	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −1.383%Rate

Funding earned: −$74.76
Price spread: −1.383% → −0.455%: −$92.81
Slippage, 4 orders: −$347.19
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$533.76
Costs to cover: 3.662%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; GRVT: 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	29.25 bp	144.1 bp −$144	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 5 min ago	4.00 bp	28.7 bp −$29	63.5 bp −$635	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
Backpack MON_USDC_PERP	−0.0091%	1h	0.02492	−1.510%	$110K	$153K	10x	as long as short
Phoenix MON	0.0000%	1h	0.02494	−1.427%	$12K	$355K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02491	−1.530%	$73K	$136K	25x	as long as short
Bybit MONUSDT	+0.0007%	8h	0.02488	−1.660%	$20.4M	$13.5M	50x	as long as short
Injective MON/USDC PERP	+0.0039%	1h	0.02496	−1.344%	$5K	$111	5.5x	as long as short
Orderly PERP_MON_USDC	+0.0083%	4h	0.02491	−1.542%	$16K	$48K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02493	−1.462%	$836K	$732K	10x	as long as short
01 Exchange MONUSD	+0.0096%	1h	0.02489	−1.625%	$6K	$1K	5x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02491	−1.560%	$7K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02493	−1.451%	$404K	$586K	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	0.02492	−1.510%	$33.5M	$7.6M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02494	−1.430%	$100K	$218K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02493	−1.453%	$12K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02492	−1.502%	$138K	$92K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02491	−1.542%	$23.7M	$27.0M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02491	−1.542%	$4.2M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02500	−1.186%	$103K	$1K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02491	−1.542%	$919K	$1.0M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02499	−1.225%	$2.9M	$762K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02492	−1.502%	$2.7M	$2.2M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02490	−1.598%	$740K	$405K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02495	−1.364%	$41K	$251K	10x	as long as short
GRVT MON_USDT_Perpshort	+0.0100%	4h	0.02495	−1.383%	$562K	$1.5M	10x
ApeX Omni MONUSDT	+0.0100%	1h	0.02492	−1.502%	$68K	$527K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02490	−1.581%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02491	−1.540%	$48K	$285K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02490	−1.585%	$38K	—	3x	as long as short
Aftermath Perps MONUSD	+0.0248%	1h	0.02495	−1.372%	$2K	$78K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0259% / S −0.0429%	1h	0.02490	−1.593%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02487	−1.700%	$1.3M	$335K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02492	−1.510%	$114K	$2.2M	10x	as long as short
Coinbase International MON-PERP-INTXlong	+0.0456%	1h	0.02530	long leg	$110K	$55K	50x
Kraken Futures PF_MONUSD	+0.1020%	1h	0.02494	−1.414%	$268K	$112K	10x	as long as short