Funding arb · Price arb /

MON

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:36 UTC+0.0347%/8h= +37.9% APRpaid last 24h −0.024%

Price spread now: Perpl against dYdX−0.102%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on Perpl

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

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

Funding pays, the price is against you. Perpl is 0.102% cheaper against dYdX than usual: you would sell low and buy high (spread −0.102% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 24 hours of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX MON-USD	0.02577	0.0100	pay 0.0013% / 1h	50m 54s	$13K	—	5x
Short	Perpl MON	0.02574	0.0447	get 0.0040% / 43m	37m 54s	$144K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Perpl against dYdX. 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 dYdXbpFee PerplbpOrdersPrice spread, now −0.102%Rate

Funding earned: $72.77
Price spread: −0.102% → 0.000%: −$10.21
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Net: $38.75
Costs to cover: 0.238%
Break-even: 3.3 days

Slippage unknown: dYdX: no order-book sample; Perpl: 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 dYdX no order-book sample	—	—	—	—	—
Sell Perpl no order-book sample	—	—	—	—	—

dYdX and Perpl: 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	−0.0739%	1h	0.02587	+0.387%	$6K	$107	5.5x	as long as short
01 Exchange MONUSD	−0.0128%	1h	0.02573	−0.145%	$6K	$1K	5x	as long as short
Bybit MONUSDT	−0.0001%	8h	0.02576	−0.025%	$21.5M	$11.8M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02574	−0.133%	$13K	$384K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02577	+0.003%	$62K	$110K	25x	as long as short
Orderly PERP_MON_USDC	+0.0092%	4h	0.02575	−0.079%	$17K	$64K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02578	+0.038%	$845K	$753K	10x	as long as short
Paradex MON-USD-PERP	+0.0099%	8h	0.02574	−0.135%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02578	+0.020%	$347K	$535K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02580	+0.111%	$34.8M	$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	0.02578	+0.033%	$107K	$233K	10x	as long as short
dYdX MON-USDlong	+0.0100%	1h	0.02577	long leg	$13K	—	5x
Pacifica MON	+0.0100%	1h	0.02575	−0.079%	$142K	$108K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02578	+0.038%	$24.5M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02577	−0.001%	$4.4M	$6.1M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02575	−0.079%	$108K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02578	+0.038%	$999K	$926K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02579	+0.076%	$2.7M	$1.8M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02579	+0.095%	$775K	$403K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02576	−0.055%	$47K	$242K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02587	+0.405%	$582K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02576	−0.040%	$69K	$482K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02575	−0.079%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02581	+0.155%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02575	−0.098%	$39K	—	3x	as long as short
BloFin MON-USDT	+0.0123%	4h	0.02572	−0.195%	$1.4M	$241K	75x	as long as short
Kraken Futures PF_MONUSD	+0.0132%	1h	0.02578	+0.033%	$262K	$63K	10x	as long as short
Backpack MON_USDC_PERP	+0.0179%	1h	0.02577	+0.014%	$136K	$138K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0313% / S −0.1052%	1h	0.02576	−0.025%	$13K	—	50x	as long as short
KuCoin MONUSDTM	+0.0356%	4h	0.02579	+0.076%	$3.1M	$790K	75x	as long as short
Aftermath Perps MONUSD	+0.0411%	1h	0.02585	+0.327%	$2K	$73K	10x	as long as short
Perpl MONshort	+0.0447%	43m	0.02574	−0.102%	$144K	$1.8M	10x
Coinbase International MON-PERP-INTX	+0.0648%	1h	0.02625	+1.873%	$115K	$51K	50x	as long as short