Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0436%/8h= +47.7% APRpaid last 24h +0.217%

Price spread now: Coinbase International against Gate+0.482%7-day average +0.529% · you sell dearer than you buy

Net, funding: paid 7d − costs−$201as in the Funding arb table

Net, price: spread back to 7d avg − costs−$302as in the Price arb table

costs, in and out, $10k−$2972.970% of the position

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.963%+$96 on $10k

Price spread, last 4 days (all we have)+0.233%+$23 · spread now +0.482%, 7d avg +0.529%

Together, before fees+1.196%+$120 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.047% cheaper against Gate than usual: you would sell low and buy high (spread +0.482% now, against its 7-day average of +0.529%). If the spread goes back, that is −$5 on $10k: about 9 hours of funding at the current rate (+$13 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MON_USDT	0.02529	0.0100	pay 0.0050% / 4h	1h 19m	$945K	$959K	50x
Short	Coinbase International MON-PERP-INTX	0.02541	0.0536	get 0.0067% / 1h	19m 56s	$112K	$56K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Gate. 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 GatebpFee Coinbase InternationalbpOrdersPrice spread, now +0.482%Rate

Funding earned: $91.56
Price spread: +0.482% → +0.529%: −$4.66
Slippage, 4 orders: −$271.99
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$210.09
Costs to cover: 2.970%
Break-even: 23.1 days

Slippage from Gate: live order book, 42 min ago; Coinbase International: live order book, 43 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 Gate live order book, 42 min ago	3.94 bp	21.1 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 43 min ago	20.13 bp	105.3 bp −$105	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
Phoenix MON	−0.0316%	1h	0.02531	+0.075%	$12K	$367K	5x	as long as short
Backpack MON_USDC_PERP	−0.0268%	1h	0.02529	−0.008%	$112K	$151K	10x	as long as short
Injective MON/USDC PERP	−0.0253%	1h	0.02535	+0.237%	$6K	$111	5.5x	as long as short
Deribit MON_USDC-PERPETUAL	−0.0185%	1h	0.02529	+0.008%	$68K	$125K	25x	as long as short
Bybit MONUSDT	−0.0160%	8h	0.02526	−0.123%	$20.7M	$13.1M	50x	as long as short
01 Exchange MONUSD	0.0000%	1h	0.02528	−0.047%	$6K	$1K	5x	as long as short
Perpl MON	0.0000%	43m	0.02531	+0.071%	$105K	$2.3M	10x	as long as short
Orderly PERP_MON_USDC	+0.0084%	4h	0.02530	+0.040%	$16K	$51K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02530	+0.040%	$844K	$738K	10x	as long as short
Paradex MON-USD-PERP	+0.0099%	8h	0.02530	+0.029%	$8K	$42	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado MON-PERP	+0.0100%	1h	0.02532	+0.103%	$413K	$543K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02530	+0.032%	$34.2M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02532	+0.130%	$101K	$222K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02534	+0.207%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02533	+0.158%	$140K	$93K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02526	−0.116%	$24.1M	$26.5M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02525	−0.158%	$4.2M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02520	−0.355%	$103K	$5K	10x	as long as short
Gate MON_USDTlong	+0.0100%	4h	0.02529	long leg	$945K	$959K	50x
KuCoin MONUSDTM	+0.0100%	4h	0.02533	+0.158%	$2.9M	$743K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02530	+0.040%	$2.7M	$2.1M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02531	+0.080%	$753K	$405K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02523	−0.246%	$41K	$249K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02530	+0.041%	$566K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02529	0.000%	$68K	$502K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02527	−0.079%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02530	+0.026%	$48K	$518K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02528	−0.024%	$38K	—	3x	as long as short
Aftermath Perps MONUSD	+0.0225%	1h	0.02532	+0.116%	$2K	$74K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02531	+0.059%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02535	+0.237%	$1.3M	$321K	75x	as long as short
Kraken Futures PF_MONUSD	+0.0491%	1h	0.02532	+0.132%	$271K	$110K	10x	as long as short
Coinbase International MON-PERP-INTXshort	+0.0536%	1h	0.02541	+0.482%	$112K	$56K	50x