Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0113%/8h= −12.4% APRpaid last 24h −0.044%

Price spread now: GRVT against Deribit−0.953%7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$178as in the Price arb table

costs, in and out, $10k−$800.800% of the position

Long on Deribit Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.034%−$3 on $10k

Price spread, last 3 days (all we have)+0.687%+$69 · spread now −0.953%, 7d avg +0.023%

Together, before fees+0.654%+ Points / potential airdropGRVT: Active · farm board+$65 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and GRVT is 0.975% cheaper against Deribit than usual: you would sell low and buy high (−$98 if the spread goes back to its 7-day average of +0.023%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MON_USDC-PERPETUAL	0.02593	0.0213	pay 0.0027% / 1h	42m 40s	$70K	$119K	25x
Short	GRVT MON_USDT_Perp	0.02568	0.0100	get 0.0050% / 4h	3h 42m	$582K	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.953%Rate

Funding earned: −$23.74
Price spread: −0.953% → +0.023%: −$97.54
Slippage, 4 orders: −$63.98
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$201.27
Costs to cover: 0.800%
Break-even: never at this rate

Slippage from Deribit: live order book, 6 min ago; GRVT: live order book, 1 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	11.94 bp	15.4 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 1 min ago	3.86 bp	25.7 bp −$26	125.4 bp −$1,254	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	−0.0444%	1h	0.02556	−1.416%	$6K	$105	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02555	−1.473%	$13K	$351K	5x	as long as short
01 Exchange MONUSD	+0.0064%	1h	0.02594	+0.042%	$6K	$1K	5x	as long as short
Orderly PERP_MON_USDC	+0.0070%	4h	0.02589	−0.143%	$17K	$64K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02596	+0.127%	$862K	$751K	10x	as long as short
Aftermath Perps MONUSD	+0.0097%	1h	0.02565	−1.083%	$3K	$76K	10x	as long as short
Paradex MON-USD-PERP	+0.0098%	8h	0.02594	+0.032%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02595	+0.077%	$396K	$543K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02599	+0.255%	$35.3M	$7.7M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02593	+0.022%	$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	0.02595	+0.080%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02595	+0.081%	$143K	$104K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02594	+0.068%	$24.8M	$25.6M	75x	as long as short
Bybit MONUSDT	+0.0100%	8h	0.02594	+0.050%	$21.5M	$12.2M	50x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02593	+0.012%	$4.4M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02550	−1.647%	$105K	$2K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02595	+0.089%	$990K	$898K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02596	+0.127%	$2.8M	$1.9M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02591	−0.069%	$129K	$141K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02558	−1.354%	$771K	$407K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02565	−1.073%	$44K	$248K	10x	as long as short
GRVT MON_USDT_Perpshort	+0.0100%	4h	0.02568	−0.953%	$582K	$1.5M	10x
ApeX Omni MONUSDT	+0.0100%	1h	0.02568	−0.953%	$68K	$483K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02591	−0.066%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02599	+0.241%	$50K	$473K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02591	−0.066%	$39K	—	3x	as long as short
KuCoin MONUSDTM	+0.0188%	4h	0.02599	+0.243%	$3.0M	$722K	75x	as long as short
Deribit MON_USDC-PERPETUALlong	+0.0213%	1h	0.02593	long leg	$70K	$119K	25x
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02592	−0.027%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02589	−0.143%	$1.4M	$310K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02591	−0.058%	$125K	$1.8M	10x	as long as short
Kraken Futures PF_MONUSD	+0.0461%	1h	0.02593	+0.030%	$272K	$78K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0808%	1h	0.02586	−0.274%	$113K	$50K	50x	as long as short