Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0213%/8h= −23.4% APRpaid last 24h −0.035%

Price spread now: Binance against GMX+0.035%50s7-day average — · you sell dearer than you buy

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

Long on GMX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Binance is 0.035% dearer against GMX than usual: you sell high and buy low (spread +0.035% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 13 hours. The two prices were read 50 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	GMX MON/USD [ETH-USDC]	0.02585	L +0.0313% / S −0.1052%	pay 0.0039% / 1h	55m 37s	$13K	—	50x
Short	Binance MONUSDT	0.02586	0.0100	get 0.0050% / 4h	2h 55m	$24.6M	$24.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against GMX. 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 GMXbpFee BinancebpOrdersPrice spread, now +0.035%Rate

Funding earned: −$44.82
Price spread: +0.035% → 0.000%: $3.48
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$63.34
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Binance: live order book, 1 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Binance live order book, 1 min ago	1.93 bp	18.1 bp −$18	61.7 bp −$617	304.7 bp −$30.5K	doesn't fit

GMX: 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	0.02581	−0.159%	$6K	$106	5.5x	as long as short
01 Exchange MONUSD	−0.0424%	1h	0.02583	−0.101%	$6K	$1K	5x	as long as short
Phoenix MON	0.0000%	1h	0.02602	+0.642%	$14K	$371K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02585	0.000%	$64K	$103K	25x	as long as short
Bybit MONUSDT	+0.0002%	8h	0.02586	+0.035%	$21.6M	$11.8M	50x	as long as short
Orderly PERP_MON_USDC	+0.0093%	4h	0.02582	−0.120%	$17K	$64K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02586	+0.035%	$847K	$753K	10x	as long as short
Paradex MON-USD-PERP	+0.0099%	8h	0.02584	−0.023%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02590	+0.172%	$347K	$535K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02587	+0.081%	$34.9M	$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	0.02585	−0.004%	$108K	$233K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02585	−0.004%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02586	+0.035%	$143K	$108K	3x	as long as short
Binance MONUSDTshort	+0.0100%	4h	0.02586	+0.035%	$24.6M	$24.6M	75x
OKX MON-USDT-SWAP	+0.0100%	4h	0.02585	−0.004%	$4.4M	$6.1M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02610	+0.963%	$110K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02585	−0.004%	$1.0M	$924K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02587	+0.073%	$2.7M	$1.8M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02579	−0.217%	$775K	$403K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02589	+0.132%	$48K	$241K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02590	+0.172%	$580K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02587	+0.073%	$69K	$482K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02583	−0.081%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02588	+0.119%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02584	−0.035%	$39K	—	3x	as long as short
Backpack MON_USDC_PERP	+0.0108%	1h	0.02584	−0.023%	$136K	$137K	10x	as long as short
Kraken Futures PF_MONUSD	+0.0132%	1h	0.02586	+0.037%	$259K	$60K	10x	as long as short
BloFin MON-USDT	+0.0134%	4h	0.02583	−0.081%	$1.4M	$242K	75x	as long as short
GMX MON/USD [ETH-USDC]long	L +0.0313% / S −0.1052%	1h	0.02585	long leg	$13K	—	50x
KuCoin MONUSDTM	+0.0374%	4h	0.02589	+0.151%	$3.2M	$790K	75x	as long as short
Aftermath Perps MONUSD	+0.0421%	1h	0.02597	+0.468%	$2K	$73K	10x	as long as short
Perpl MON	+0.0447%	43m	0.02584	−0.035%	$145K	$1.8M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0648%	1h	0.02625	+1.555%	$115K	$51K	50x	as long as short