Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.003%

Price spread now: Phoenix against edgeX−0.063%7-day average +0.074% · you buy dearer than you sell

Net, funding: paid 7d − costs−$96as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$720.718% of the position

Long on edgeX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.240%−$24 on $10k

Price spread, last 4 days (all we have)+0.210%+$21 · spread now −0.063%, 7d avg +0.074%

Together, before fees−0.030%+ Points / potential airdropedgeX: Active · farm board−$3 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 Phoenix is 0.137% cheaper against edgeX than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of +0.074%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX MONUSDC	0.02495	0.0100	pay 0.0050% / 4h	2h 42m	$41K	$251K	10x
Short	Phoenix MON	0.02494	0	get 0.0000% / 1h	42m 28s	$12K	$355K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.063%Rate

Funding earned: −$21
Price spread: −0.063% → +0.074%: −$13.7
Slippage, 4 orders: −$55.82
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$106.52
Costs to cover: 0.718%
Break-even: never at this rate

Slippage from edgeX: live order book, 5 min ago; Phoenix: live order book, 4 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, 5 min ago	10.03 bp	22.3 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix live order book, 4 min ago	0.80 bp	12.9 bp −$13	44.6 bp −$446	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
Backpack MON_USDC_PERP	−0.0091%	1h	0.02492	−0.148%	$110K	$153K	10x	as long as short
Phoenix MONshort	0.0000%	1h	0.02494	−0.063%	$12K	$355K	5x
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02491	−0.168%	$73K	$136K	25x	as long as short
Bybit MONUSDT	+0.0007%	8h	0.02487	−0.340%	$20.4M	$13.5M	50x	as long as short
Injective MON/USDC PERP	+0.0039%	1h	0.02496	+0.021%	$5K	$111	5.5x	as long as short
01 Exchange MONUSD	+0.0080%	1h	0.02489	−0.248%	$6K	$1K	5x	as long as short
Orderly PERP_MON_USDC	+0.0083%	4h	0.02491	−0.180%	$16K	$48K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02494	−0.059%	$836K	$732K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02490	−0.236%	$7K	$42	5x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02495	−0.023%	$33.5M	$7.6M	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	0.02494	−0.072%	$100K	$218K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02493	−0.089%	$12K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02492	−0.139%	$138K	$92K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02491	−0.160%	$23.7M	$27.0M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02490	−0.220%	$4.2M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02490	−0.220%	$102K	$1K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02491	−0.180%	$919K	$1.0M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02499	+0.141%	$2.9M	$762K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02492	−0.139%	$2.7M	$2.2M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02490	−0.237%	$740K	$405K	—	as long as short
edgeX MONUSDClong	+0.0100%	4h	0.02495	long leg	$41K	$251K	10x
GRVT MON_USDT_Perp	+0.0100%	4h	0.02495	−0.019%	$562K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02492	−0.139%	$68K	$527K	50x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02492	−0.154%	$404K	$584K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02490	−0.220%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02492	−0.135%	$47K	$286K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02490	−0.224%	$38K	—	3x	as long as short
Aftermath Perps MONUSD	+0.0248%	1h	0.02495	−0.007%	$2K	$78K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0259% / S −0.0429%	1h	0.02490	−0.232%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02487	−0.340%	$1.3M	$335K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02492	−0.148%	$114K	$2.2M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0456%	1h	0.02530	+1.383%	$110K	$55K	50x	as long as short
Kraken Futures PF_MONUSD	+0.1020%	1h	0.02494	−0.050%	$268K	$112K	10x	as long as short