Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0160%/8h= −17.5% APRpaid last 24h −0.036%

Price spread now: Bitget against GMX+0.117%7-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 Bitget

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. Bitget is 0.117% dearer against GMX than usual: you sell high and buy low (spread +0.117% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX MON/USD [ETH-USDC]	0.02555	L +0.0260% / S −0.0598%	pay 0.0033% / 1h	11m 03s	$8K	—	50x
Short	Bitget MONUSDT	0.02558	0.0100	get 0.0050% / 4h	11m 03s	$2.7M	$1.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.117%Rate

Funding earned: −$33.61
Price spread: +0.117% → 0.000%: $11.74
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$45.87
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Bitget: 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 Bitget live order book, 1 min ago	7.82 bp	24.5 bp −$25	58.6 bp −$586	doesn't fit	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	−0.0121%	1h	0.02559	+0.157%	$6K	$109	5.5x	as long as short
01 Exchange MONUSD	−0.0096%	1h	0.02555	−0.016%	$6K	$1K	5x	as long as short
Bybit MONUSDT	−0.0030%	8h	0.02553	−0.074%	$21.1M	$12.1M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02557	+0.063%	$13K	$360K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02556	+0.023%	$69K	$119K	25x	as long as short
Orderly PERP_MON_USDC	+0.0070%	4h	0.02555	0.000%	$17K	$64K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02556	+0.039%	$849K	$794K	10x	as long as short
Paradex MON-USD-PERP	+0.0096%	8h	0.02554	−0.028%	$8K	$42	5x	as long as short
Aftermath Perps MONUSD	+0.0097%	1h	0.02559	+0.141%	$3K	$75K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02558	+0.101%	$390K	$542K	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	0.02557	+0.086%	$34.6M	$7.7M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02557	+0.064%	$106K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02557	+0.090%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02556	+0.051%	$141K	$105K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02556	+0.039%	$24.4M	$25.5M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02554	−0.039%	$4.3M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02555	0.000%	$107K	$390	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02556	+0.039%	$975K	$912K	50x	as long as short
Bitget MONUSDTshort	+0.0100%	4h	0.02558	+0.117%	$2.7M	$1.9M	25x
Backpack MON_USDC_PERP	+0.0100%	1h	0.02556	+0.023%	$127K	$141K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02552	−0.132%	$772K	$407K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02555	+0.008%	$47K	$243K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02558	+0.123%	$579K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02558	+0.117%	$68K	$481K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02554	−0.039%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02559	+0.160%	$51K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02554	−0.039%	$39K	—	3x	as long as short
KuCoin MONUSDTM	+0.0254%	4h	0.02561	+0.235%	$3.0M	$719K	75x	as long as short
GMX MON/USD [ETH-USDC]long	L +0.0260% / S −0.0598%	1h	0.02555	long leg	$8K	—	50x
BloFin MON-USDT	+0.0340%	4h	0.02556	+0.039%	$1.3M	$306K	75x	as long as short
Kraken Futures PF_MONUSD	+0.0422%	1h	0.02558	+0.123%	$269K	$78K	10x	as long as short
Perpl MON	+0.0447%	43m	0.02556	+0.043%	$124K	$1.8M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0480%	1h	0.02609	+2.110%	$115K	$50K	50x	as long as short