Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0010%/8h= −1.1% APRpaid last 24h −0.015%

Price spread now: Gate against Deribit−0.072%7-day average −0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$690.687% of the position

Long on Deribit Short on Gate

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)−0.082%−$8 · spread now −0.072%, 7d avg −0.036%

Together, before fees−0.113%−$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Gate is 0.036% cheaper against Deribit than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.036%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MON_USDC-PERPETUAL	0.02501	0.0110	pay 0.0014% / 1h	8m 33s	$73K	$138K	25x
Short	Gate MON_USDT	0.02499	0.0100	get 0.0050% / 4h	1h 08m	$931K	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.072%Rate

Funding earned: −$2.1
Price spread: −0.072% → −0.036%: −$3.56
Slippage, 4 orders: −$46.67
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$74.33
Costs to cover: 0.687%
Break-even: never at this rate

Slippage from Deribit: live order book, 10 min ago; Gate: live order book, 3 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, 10 min ago	9.00 bp	12.5 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	6.00 bp	19.9 bp −$20	420.0 bp −$4,200	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
Phoenix MON	0.0000%	1h	0.02501	0.000%	$13K	$353K	5x	as long as short
Perpl MON	0.0000%	43m	0.02501	+0.016%	$126K	$2.2M	10x	as long as short
Orderly PERP_MON_USDC	+0.0087%	4h	0.02501	+0.008%	$16K	$48K	10x	as long as short
Bybit MONUSDT	+0.0096%	8h	0.02497	−0.152%	$20.6M	$13.7M	50x	as long as short
Lighter MON	+0.0096%	1h	0.02500	−0.032%	$802K	$787K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02497	−0.140%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02502	+0.029%	$393K	$575K	10x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02500	−0.052%	$99K	$213K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02499	−0.082%	$12K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02499	−0.080%	$138K	$91K	3x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance MONUSDT	+0.0100%	4h	0.02498	−0.112%	$23.7M	$27.5M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02497	−0.152%	$4.2M	$6.2M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02500	−0.032%	$103K	−$0	10x	as long as short
Gate MON_USDTshort	+0.0100%	4h	0.02499	−0.072%	$931K	$1.0M	50x
KuCoin MONUSDTM	+0.0100%	4h	0.02504	+0.128%	$2.9M	$767K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02501	+0.008%	$2.7M	$2.3M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02502	+0.044%	$110K	$156K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02499	−0.090%	$741K	$411K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02497	−0.134%	$41K	$250K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02504	+0.116%	$565K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02501	+0.008%	$68K	$534K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02499	−0.072%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02501	+0.001%	$47K	$268K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02499	−0.064%	$38K	—	3x	as long as short
Injective MON/USDC PERP	+0.0109%	1h	0.02500	−0.032%	$5K	$113	5.5x	as long as short
Deribit MON_USDC-PERPETUALlong	+0.0110%	1h	0.02501	long leg	$73K	$138K	25x
GMX MON/USD [ETH-USDC]	L +0.0230% / S −0.0246%	1h	0.02500	−0.032%	$6K	—	50x	as long as short
01 Exchange MONUSD	+0.0264%	1h	0.02499	−0.068%	$6K	$3K	5x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02500	−0.032%	$1.3M	$348K	75x	as long as short
Hyperliquid MON	+0.0371%	1h	0.02501	+0.016%	$33.8M	$7.8M	5x	as long as short
Aftermath Perps MONUSD	+0.0397%	1h	0.02502	+0.046%	$6K	$100K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0576%	1h	0.02511	+0.416%	$110K	$53K	50x	as long as short
Kraken Futures PF_MONUSD	+0.0845%	1h	0.02501	+0.026%	$269K	$119K	10x	as long as short