Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0160%/8h= −17.5% APRpaid last 24h −0.033%

Price spread now: GRVT against GMX+0.214%69s7-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 GRVT

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—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

The price spread pays, funding is against you. GRVT is 0.214% dearer against GMX than usual: you sell high and buy low (spread +0.214% now, against zero (this spread has no 7-day history yet)): +$21 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 4.5 days. The two prices were read 69 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]	0.02517	L +0.0260% / S −0.0429%	pay 0.0032% / 1h	32m 22s	$9K	—	50x
Short	GRVT MON_USDT_Perp	0.02523	0.0100	get 0.0050% / 4h	3h 32m	$568K	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.214%Rate

Funding earned: −$33.57
Price spread: +0.214% → 0.000%: $21.37
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$33.2
Costs to cover: 0.210%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; GRVT: 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 GRVT live order book, 1 min ago	1.98 bp	41.1 bp −$41	127.5 bp −$1,275	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	−0.0203%	1h	0.02523	+0.218%	$5K	$112	5.5x	as long as short
Bybit MONUSDT	−0.0023%	8h	0.02517	−0.020%	$20.7M	$13.4M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02522	+0.175%	$12K	$358K	5x	as long as short
Orderly PERP_MON_USDC	+0.0073%	4h	0.02519	+0.060%	$16K	$48K	10x	as long as short
Backpack MON_USDC_PERP	+0.0091%	1h	0.02522	+0.163%	$112K	$151K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02521	+0.139%	$845K	$732K	10x	as long as short
Paradex MON-USD-PERP	+0.0097%	8h	0.02518	+0.039%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02523	+0.204%	$413K	$584K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02520	+0.087%	$33.9M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02520	+0.106%	$101K	$222K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX MON-USD	+0.0100%	1h	0.02521	+0.130%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02521	+0.119%	$139K	$93K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02518	+0.039%	$23.9M	$26.9M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02518	+0.020%	$4.2M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02520	+0.099%	$103K	$2K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02519	+0.060%	$943K	$982K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02523	+0.218%	$2.9M	$761K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02520	+0.099%	$2.7M	$2.2M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02519	+0.042%	$746K	$411K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02521	+0.140%	$41K	$251K	10x	as long as short
GRVT MON_USDT_Perpshort	+0.0100%	4h	0.02523	+0.214%	$568K	$1.5M	10x
ApeX Omni MONUSDT	+0.0100%	1h	0.02523	+0.218%	$68K	$518K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02521	+0.139%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02520	+0.116%	$48K	$519K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02517	−0.020%	$38K	—	3x	as long as short
01 Exchange MONUSD	+0.0208%	1h	0.02519	+0.079%	$6K	$1K	5x	as long as short
Deribit MON_USDC-PERPETUAL	+0.0226%	1h	0.02521	+0.147%	$74K	$136K	25x	as long as short
GMX MON/USD [ETH-USDC]long	L +0.0260% / S −0.0429%	1h	0.02517	long leg	$9K	—	50x
Aftermath Perps MONUSD	+0.0325%	1h	0.02520	+0.110%	$2K	$74K	10x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02521	+0.139%	$1.3M	$340K	75x	as long as short
Coinbase International MON-PERP-INTX	+0.0368%	1h	0.02526	+0.350%	$110K	$57K	50x	as long as short
Perpl MON	+0.0447%	43m	0.02521	+0.127%	$114K	$2.3M	10x	as long as short
Kraken Futures PF_MONUSD	+0.0723%	1h	0.02524	+0.245%	$271K	$113K	10x	as long as short