Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.033%

Price spread now: Binance against Deribit−0.158%7-day average — · you buy dearer than you sell

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$610.614% of the position

Long on Deribit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.031%−$3 on $10k

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

Together, before fees—needs both histories

Funding pays, the price is against you. Binance is 0.158% cheaper against Deribit than usual: you would sell low and buy high (spread −0.158% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$16 on $10k: about 5.3 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MON_USDC-PERPETUAL	0.02596	0	get 0.0000% / 1h	58m 03s	$64K	$103K	25x
Short	Binance MONUSDT	0.02592	0.0100	get 0.0050% / 4h	2h 58m	$24.7M	$24.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Deribit. 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 DeribitbpFee BinancebpOrdersPrice spread, now −0.158%Rate

Funding earned: $21
Price spread: −0.158% → 0.000%: −$15.79
Slippage, 4 orders: −$44.4
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$56.19
Costs to cover: 0.614%
Break-even: 25.7 days

Slippage from Deribit: live order book, 6 min ago; Binance: live order book, 13 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 Deribit live order book, 6 min ago	8.25 bp	11.8 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 13 min ago	1.93 bp	19.5 bp −$20	69.4 bp −$694	333.1 bp −$33.3K	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	0.02581	−0.582%	$6K	$106	5.5x	as long as short
01 Exchange MONUSD	−0.0200%	1h	0.02596	−0.019%	$6K	$1K	5x	as long as short
Bybit MONUSDT	0.0000%	8h	0.02590	−0.235%	$21.7M	$11.8M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02602	+0.216%	$14K	$371K	5x	as long as short
Deribit MON_USDC-PERPETUALlong	0.0000%	1h	0.02596	long leg	$64K	$103K	25x
Orderly PERP_MON_USDC	+0.0093%	4h	0.02595	−0.042%	$17K	$64K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02594	−0.081%	$850K	$753K	10x	as long as short
Paradex MON-USD-PERP	+0.0099%	8h	0.02596	0.000%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02598	+0.064%	$346K	$536K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02594	−0.065%	$35.0M	$7.5M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster MONUSDT	+0.0100%	4h	0.02599	+0.096%	$108K	$233K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02600	+0.137%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02599	+0.112%	$144K	$108K	3x	as long as short
Binance MONUSDTshort	+0.0100%	4h	0.02592	−0.158%	$24.7M	$24.6M	75x
OKX MON-USDT-SWAP	+0.0100%	4h	0.02589	−0.273%	$4.4M	$6.1M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02610	+0.535%	$110K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02594	−0.081%	$1.0M	$923K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02595	−0.042%	$2.8M	$1.8M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02602	+0.210%	$779K	$403K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02604	+0.310%	$48K	$243K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02605	+0.343%	$584K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02604	+0.304%	$69K	$485K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02593	−0.119%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02596	+0.014%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02595	−0.058%	$39K	—	3x	as long as short
Kraken Futures PF_MONUSD	+0.0131%	1h	0.02596	0.000%	$260K	$60K	10x	as long as short
BloFin MON-USDT	+0.0146%	4h	0.02598	+0.073%	$1.4M	$247K	75x	as long as short
Backpack MON_USDC_PERP	+0.0188%	1h	0.02592	−0.143%	$136K	$136K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0314% / S −0.1052%	1h	0.02596	+0.008%	$14K	—	50x	as long as short
KuCoin MONUSDTM	+0.0386%	4h	0.02599	+0.112%	$3.1M	$790K	75x	as long as short
Aftermath Perps MONUSD	+0.0425%	1h	0.02602	+0.209%	$2K	$73K	10x	as long as short
Perpl MON	+0.0447%	43m	0.02598	+0.077%	$146K	$1.8M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0648%	1h	0.02625	+1.125%	$115K	$51K	50x	as long as short