Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0548%/8h= +60.0% APRpaid last 24h +0.220%

Price spread now: Coinbase International against edgeX+1.421%7-day average +0.519% · you sell dearer than you buy

Net, funding: paid 7d − costs−$238as in the Funding arb table

Net, price: spread back to 7d avg − costs−$239as in the Price arb table

costs, in and out, $10k−$3303.296% of the position

Long on edgeX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.917%+$92 on $10k

Price spread, last 3 days (all we have)−0.716%−$72 · spread now +1.421%, 7d avg +0.519%

Together, before fees+0.201%+ Points / potential airdropedgeX: Active · farm board+$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Coinbase International is 0.902% dearer against edgeX than usual: you sell high and buy low: +$90 more if the spread goes back to its 7-day average of +0.519%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX MONUSDC	0.02589	0.0100	pay 0.0050% / 4h	2h 54m	$48K	$241K	10x
Short	Coinbase International MON-PERP-INTX	0.02625	0.0648	get 0.0081% / 1h	54m 32s	$115K	$51K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against edgeX. 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 edgeXbpFee Coinbase InternationalbpOrdersPrice spread, now +1.421%Rate

Funding earned: $115.08
Price spread: +1.421% → +0.519%: $90.24
Slippage, 4 orders: −$310.55
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$124.23
Costs to cover: 3.296%
Break-even: 14.6 days

Slippage from edgeX: live order book, 32 min ago; Coinbase International: live order book, 33 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 edgeX live order book, 32 min ago	11.63 bp	23.5 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 33 min ago	39.55 bp	143.9 bp −$144	doesn't fit	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	0.02587	−0.058%	$6K	$107	5.5x	as long as short
01 Exchange MONUSD	−0.0400%	1h	0.02583	−0.232%	$6K	$1K	5x	as long as short
Phoenix MON	0.0000%	1h	0.02586	−0.105%	$13K	$384K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02589	+0.030%	$64K	$103K	25x	as long as short
Bybit MONUSDT	+0.0002%	8h	0.02571	−0.661%	$21.5M	$11.8M	50x	as long as short
Orderly PERP_MON_USDC	+0.0093%	4h	0.02587	−0.058%	$17K	$64K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02584	−0.174%	$847K	$753K	10x	as long as short
Paradex MON-USD-PERP	+0.0099%	8h	0.02577	−0.429%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02577	−0.439%	$347K	$537K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02575	−0.518%	$34.7M	$7.4M	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	0.02585	−0.136%	$108K	$233K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02584	−0.175%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02582	−0.259%	$143K	$108K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02575	−0.503%	$24.5M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02570	−0.715%	$4.4M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02610	+0.830%	$110K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02580	−0.329%	$1.0M	$926K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02576	−0.483%	$2.7M	$1.8M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02579	−0.349%	$775K	$403K	—	as long as short
edgeX MONUSDClong	+0.0100%	4h	0.02589	long leg	$48K	$241K	10x
GRVT MON_USDT_Perp	+0.0100%	4h	0.02590	+0.040%	$580K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02587	−0.058%	$69K	$482K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02588	−0.020%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02582	−0.237%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02587	−0.047%	$39K	—	3x	as long as short
Backpack MON_USDC_PERP	+0.0130%	1h	0.02588	−0.031%	$136K	$137K	10x	as long as short
Kraken Futures PF_MONUSD	+0.0132%	1h	0.02589	+0.007%	$259K	$59K	10x	as long as short
BloFin MON-USDT	+0.0134%	4h	0.02587	−0.058%	$1.4M	$242K	75x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0313% / S −0.1052%	1h	0.02588	−0.024%	$13K	—	50x	as long as short
KuCoin MONUSDTM	+0.0366%	4h	0.02588	−0.020%	$3.2M	$790K	75x	as long as short
Aftermath Perps MONUSD	+0.0417%	1h	0.02595	+0.258%	$2K	$73K	10x	as long as short
Perpl MON	+0.0447%	43m	0.02576	−0.491%	$144K	$1.8M	10x	as long as short
Coinbase International MON-PERP-INTXshort	+0.0648%	1h	0.02625	+1.421%	$115K	$51K	50x