Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0738%/8h= −80.8% APRpaid last 24h −0.223%

Price spread now: Orderly against Coinbase International+0.131%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.985%−$98 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Orderly is 0.131% dearer against Coinbase International than usual: you sell high and buy low (spread +0.131% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$22 a day in funding at the current rate, which eats that in about 14 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MON-PERP-INTX	0.02586	0.0808	pay 0.0101% / 1h	42m 51s	$113K	$50K	50x
Short	Orderly PERP_MON_USDC	0.02589	0.0070	get 0.0035% / 4h	3h 42m	$17K	$64K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.131%Rate

Funding earned: −$154.93
Price spread: +0.131% → 0.000%: $13.15
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$157.78
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 30 min ago; Orderly: no order-book sample. Net counts fees only.

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, 30 min ago	36.15 bp	130.6 bp −$131	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0444%	1h	0.02556	−1.145%	$6K	$105	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02555	−1.203%	$13K	$351K	5x	as long as short
01 Exchange MONUSD	+0.0064%	1h	0.02594	+0.317%	$6K	$1K	5x	as long as short
Orderly PERP_MON_USDCshort	+0.0070%	4h	0.02589	+0.131%	$17K	$64K	10x
Lighter MON	+0.0096%	1h	0.02592	+0.248%	$861K	$751K	10x	as long as short
Aftermath Perps MONUSD	+0.0097%	1h	0.02565	−0.811%	$3K	$76K	10x	as long as short
Paradex MON-USD-PERP	+0.0098%	8h	0.02589	+0.126%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02595	+0.352%	$396K	$543K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02594	+0.340%	$35.2M	$7.7M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02591	+0.191%	$108K	$231K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX MON-USD	+0.0100%	1h	0.02590	+0.154%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02588	+0.108%	$143K	$104K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02594	+0.306%	$24.8M	$25.6M	75x	as long as short
Bybit MONUSDT	+0.0100%	8h	0.02592	+0.255%	$21.4M	$12.2M	50x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02592	+0.248%	$4.4M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02550	−1.377%	$105K	$2K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02594	+0.325%	$991K	$898K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02595	+0.364%	$2.8M	$1.9M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02591	+0.205%	$129K	$141K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02558	−1.083%	$771K	$407K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02565	−0.801%	$44K	$248K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02568	−0.681%	$582K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02568	−0.681%	$68K	$483K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02591	+0.209%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02597	+0.431%	$51K	$469K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02591	+0.209%	$39K	—	3x	as long as short
KuCoin MONUSDTM	+0.0194%	4h	0.02596	+0.402%	$3.0M	$722K	75x	as long as short
Deribit MON_USDC-PERPETUAL	+0.0213%	1h	0.02593	+0.275%	$70K	$119K	25x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02592	+0.248%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02589	+0.131%	$1.4M	$310K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02591	+0.217%	$125K	$1.8M	10x	as long as short
Kraken Futures PF_MONUSD	+0.0461%	1h	0.02593	+0.305%	$272K	$78K	10x	as long as short
Coinbase International MON-PERP-INTXlong	+0.0808%	1h	0.02586	long leg	$113K	$50K	50x