Funding arb · Price arb /

MON

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0030%/8h= +3.3% APRpaid last 24h −0.019%

Price spread now: Paradex against Deribit−0.100%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.100% cheaper against Deribit than usual: you would sell low and buy high (spread −0.100% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 11 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MON_USDC-PERPETUAL	0.02501	0.0070	pay 0.0009% / 1h	8m 00s	$74K	$136K	25x
Short	Paradex MON-USD-PERP	0.02498	0.0100	get 0.0100% / 8h	3h 08m	$8K	$42	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.100%Rate

Funding earned: $6.26
Price spread: −0.100% → 0.000%: −$10.04
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$14.78
Costs to cover: 0.110%
Break-even: 23.5 days

Slippage unknown: Deribit: live order book, 21 min ago; Paradex: 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 Deribit live order book, 21 min ago	6.33 bp	17.0 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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	−0.0203%	1h	0.02515	+0.572%	$5K	$114	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02513	+0.484%	$12K	$358K	5x	as long as short
Bybit MONUSDT	+0.0006%	8h	0.02498	−0.108%	$20.5M	$13.5M	50x	as long as short
Backpack MON_USDC_PERP	+0.0018%	1h	0.02502	+0.048%	$110K	$152K	10x	as long as short
Deribit MON_USDC-PERPETUALlong	+0.0070%	1h	0.02501	long leg	$74K	$136K	25x
Orderly PERP_MON_USDC	+0.0078%	4h	0.02499	−0.068%	$16K	$48K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02502	+0.052%	$839K	$733K	10x	as long as short
Paradex MON-USD-PERPshort	+0.0100%	8h	0.02498	−0.100%	$8K	$42	5x
Nado MON-PERP	+0.0100%	1h	0.02501	+0.006%	$404K	$586K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02503	+0.080%	$33.7M	$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	0.02500	−0.024%	$100K	$222K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02501	−0.005%	$12K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02499	−0.068%	$138K	$92K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02501	+0.008%	$23.8M	$27.0M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02501	+0.012%	$4.2M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02510	+0.376%	$103K	$1K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02499	−0.068%	$934K	$990K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02501	+0.012%	$2.9M	$765K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02503	+0.092%	$2.7M	$2.2M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02506	+0.193%	$743K	$405K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02515	+0.586%	$41K	$250K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02517	+0.642%	$567K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02517	+0.652%	$68K	$521K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02500	−0.028%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02503	+0.111%	$50K	$270K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02499	−0.048%	$38K	—	3x	as long as short
01 Exchange MONUSD	+0.0200%	1h	0.02497	−0.140%	$6K	$1K	5x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02500	−0.044%	$9K	—	50x	as long as short
Aftermath Perps MONUSD	+0.0322%	1h	0.02509	+0.319%	$2K	$78K	10x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02500	−0.028%	$1.3M	$338K	75x	as long as short
Coinbase International MON-PERP-INTX	+0.0368%	1h	0.02530	+1.172%	$110K	$57K	50x	as long as short
Perpl MON	+0.0447%	43m	0.02502	+0.060%	$113K	$2.2M	10x	as long as short
Kraken Futures PF_MONUSD	+0.0728%	1h	0.02503	+0.102%	$269K	$113K	10x	as long as short