Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.024%

Price spread now: Deribit against edgeX−0.154%75s7-day average +0.083% · you buy dearer than you sell

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$640.641% of the position

Long on edgeX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.027%+$3 on $10k

Price spread, last 3 days (all we have)+0.632%+$63 · spread now −0.154%, 7d avg +0.083%

Together, before fees+0.659%+ Points / potential airdropedgeX: Active · farm board+$66 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 Deribit is 0.237% cheaper against edgeX than usual: you would sell low and buy high (−$24 if the spread goes back to its 7-day average of +0.083%). Swap the legs. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX MONUSDC	0.02574	0.0100	pay 0.0050% / 4h	30m 13s	$47K	$244K	10x
Short	Deribit MON_USDC-PERPETUAL	0.02570	0	get 0.0000% / 1h	30m 13s	$69K	$119K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.154%Rate

Funding earned: −$21
Price spread: −0.154% → +0.083%: −$23.67
Slippage, 4 orders: −$48.09
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$108.76
Costs to cover: 0.641%
Break-even: never at this rate

Slippage from edgeX: live order book, 47 min ago; Deribit: live order book, 24 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, 47 min ago	7.77 bp	18.3 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 24 min ago	9.67 bp	13.2 bp −$13	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	−0.0121%	1h	0.02576	+0.080%	$6K	$107	5.5x	as long as short
01 Exchange MONUSD	−0.0064%	1h	0.02569	−0.196%	$6K	$1K	5x	as long as short
Bybit MONUSDT	−0.0032%	8h	0.02569	−0.192%	$21.3M	$12.0M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02576	+0.087%	$13K	$360K	5x	as long as short
Deribit MON_USDC-PERPETUALshort	0.0000%	1h	0.02570	−0.154%	$69K	$119K	25x
Orderly PERP_MON_USDC	+0.0069%	4h	0.02569	−0.192%	$17K	$64K	10x	as long as short
Aftermath Perps MONUSD	+0.0082%	1h	0.02577	+0.100%	$2K	$75K	10x	as long as short
Paradex MON-USD-PERP	+0.0094%	8h	0.02568	−0.232%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02571	−0.115%	$854K	$793K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02574	−0.017%	$392K	$544K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid MON	+0.0100%	1h	0.02573	−0.041%	$34.8M	$7.6M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02570	−0.159%	$108K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02573	−0.052%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02570	−0.154%	$142K	$105K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02568	−0.214%	$24.5M	$25.4M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02566	−0.309%	$4.3M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02570	−0.154%	$108K	$390	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02569	−0.192%	$978K	$909K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02571	−0.115%	$2.7M	$1.9M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02571	−0.115%	$128K	$141K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02568	−0.223%	$778K	$408K	—	as long as short
edgeX MONUSDClong	+0.0100%	4h	0.02574	long leg	$47K	$244K	10x
GRVT MON_USDT_Perp	+0.0100%	4h	0.02577	+0.118%	$584K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02575	+0.041%	$69K	$481K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02569	−0.192%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02573	−0.035%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02570	−0.169%	$39K	—	3x	as long as short
KuCoin MONUSDTM	+0.0258%	4h	0.02572	−0.076%	$3.0M	$716K	75x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0598%	1h	0.02569	−0.173%	$8K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02570	−0.154%	$1.4M	$308K	75x	as long as short
Kraken Futures PF_MONUSD	+0.0420%	1h	0.02573	−0.019%	$270K	$78K	10x	as long as short
Perpl MON	+0.0447%	43m	0.02570	−0.157%	$126K	$1.8M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0480%	1h	0.02609	+1.358%	$115K	$50K	50x	as long as short