Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0234%/8h= +25.7% APRpaid last 24h −0.030%

Price spread now: Bitget against Deribit−0.008%7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$710.706% of the position

Long on Deribit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.068%−$7 on $10k

Price spread, last 3 days (all we have)−0.338%−$34 · spread now −0.008%, 7d avg 0.000%

Together, before fees−0.406%−$41 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of 0.000%, so right now this pair is about funding alone: +$7 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.068%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.068% in total (about -3.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MON_USDC-PERPETUAL	0.02601	−0.0134	get 0.0017% / 1h	13m 46s	$63K	$110K	25x
Short	Bitget MONUSDT	0.02601	0.0100	get 0.0050% / 4h	2h 13m	$2.8M	$1.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.008%Rate

Funding earned: $49.2
Price spread: −0.008% → 0.000%: −$0.79
Slippage, 4 orders: −$51.61
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$22.2
Costs to cover: 0.706%
Break-even: 10.2 days

Slippage from Deribit: live order book, 50 min ago; Bitget: live order book, 4 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, 50 min ago	8.25 bp	11.8 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	5.77 bp	23.9 bp −$24	66.2 bp −$662	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
Injective MON/USDC PERP	−0.0739%	1h	0.02599	−0.085%	$6K	$110	5.5x	as long as short
01 Exchange MONUSD	−0.0232%	1h	0.02600	−0.035%	$6K	$1K	5x	as long as short
Deribit MON_USDC-PERPETUALlong	−0.0134%	1h	0.02601	long leg	$63K	$110K	25x
Bybit MONUSDT	0.0000%	8h	0.02597	−0.177%	$21.7M	$11.8M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02599	−0.088%	$14K	$384K	5x	as long as short
Orderly PERP_MON_USDC	+0.0091%	4h	0.02598	−0.123%	$17K	$64K	10x	as long as short
Paradex MON-USD-PERP	+0.0094%	8h	0.02598	−0.141%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02600	−0.046%	$854K	$758K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02605	+0.144%	$381K	$531K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02603	+0.077%	$35.1M	$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	0.02601	−0.024%	$108K	$233K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02602	+0.012%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02600	−0.046%	$143K	$106K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02598	−0.117%	$24.7M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02595	−0.238%	$4.4M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02602	+0.031%	$109K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02600	−0.046%	$1.0M	$935K	50x	as long as short
Bitget MONUSDTshort	+0.0100%	4h	0.02601	−0.008%	$2.8M	$1.8M	25x
Variational Omni MON	+0.0100%	8h	0.02596	−0.185%	$782K	$412K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02596	−0.201%	$48K	$243K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02598	−0.113%	$585K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02599	−0.085%	$69K	$481K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02599	−0.085%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02602	+0.035%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02600	−0.065%	$39K	—	3x	as long as short
Kraken Futures PF_MONUSD	+0.0131%	1h	0.02603	+0.084%	$268K	$67K	10x	as long as short
BloFin MON-USDT	+0.0139%	4h	0.02595	−0.238%	$1.4M	$246K	75x	as long as short
Aftermath Perps MONUSD	+0.0142%	1h	0.02599	−0.067%	$2K	$73K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02601	+0.008%	$9K	—	50x	as long as short
Backpack MON_USDC_PERP	+0.0314%	1h	0.02601	−0.023%	$138K	$136K	10x	as long as short
KuCoin MONUSDTM	+0.0388%	4h	0.02601	−0.008%	$3.2M	$747K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02600	−0.038%	$145K	$1.8M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0648%	1h	0.02607	+0.211%	$114K	$50K	50x	as long as short