Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0380%/8h= +41.6% APRpaid last 24h +0.240%

Price spread now: Coinbase International against GRVT+1.174%7-day average +0.424% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$1121.124% of the position

Long on GRVT Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.932%+$93 on $10k

Price spread, last 3 days (all we have)−0.639%−$64 · spread now +1.174%, 7d avg +0.424%

Together, before fees+0.293%+ Points / potential airdropGRVT: Active · farm board+$29 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Coinbase International is 0.750% dearer against GRVT than usual: you sell high and buy low: +$75 more if the spread goes back to its 7-day average of +0.424%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT MON_USDT_Perp	0.02579	0.0100	pay 0.0050% / 4h	32m 42s	$584K	$1.5M	10x
Short	Coinbase International MON-PERP-INTX	0.02609	0.0480	get 0.0060% / 1h	32m 42s	$115K	$50K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against GRVT. 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 GRVTbpFee Coinbase InternationalbpOrdersPrice spread, now +1.174%Rate

Funding earned: $79.8
Price spread: +1.174% → +0.424%: $74.99
Slippage, 4 orders: −$93.37
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $42.42
Costs to cover: 1.124%
Break-even: 3.3 days

Slippage from GRVT: live order book, 1 min ago; Coinbase International: live order book, 45 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 GRVT live order book, 1 min ago	3.88 bp	41.2 bp −$41	164.7 bp −$1,647	doesn't fit	doesn't fit
Sell Coinbase International live order book, 45 min ago	15.92 bp	20.9 bp −$21	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
Injective MON/USDC PERP	−0.0121%	1h	0.02576	−0.102%	$6K	$107	5.5x	as long as short
01 Exchange MONUSD	−0.0056%	1h	0.02575	−0.129%	$6K	$1K	5x	as long as short
Bybit MONUSDT	−0.0032%	8h	0.02573	−0.218%	$21.3M	$12.0M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02578	−0.024%	$13K	$360K	5x	as long as short
Perpl MON	0.0000%	43m	0.02578	−0.020%	$126K	$1.8M	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02577	−0.075%	$70K	$119K	25x	as long as short
Orderly PERP_MON_USDC	+0.0069%	4h	0.02574	−0.179%	$17K	$64K	10x	as long as short
Aftermath Perps MONUSD	+0.0088%	1h	0.02580	+0.060%	$2K	$75K	10x	as long as short
Paradex MON-USD-PERP	+0.0094%	8h	0.02573	−0.203%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02576	−0.102%	$855K	$793K	10x	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	0.02579	+0.023%	$393K	$544K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02578	−0.024%	$34.9M	$7.6M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02574	−0.166%	$108K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02575	−0.145%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02575	−0.129%	$142K	$105K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02575	−0.129%	$24.5M	$25.4M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02574	−0.179%	$4.3M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02585	+0.242%	$108K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02573	−0.218%	$980K	$909K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02575	−0.141%	$2.7M	$1.8M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02575	−0.148%	$128K	$141K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02576	−0.094%	$779K	$408K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02579	+0.010%	$47K	$244K	10x	as long as short
GRVT MON_USDT_Perplong	+0.0100%	4h	0.02579	long leg	$584K	$1.5M	10x
ApeX Omni MONUSDT	+0.0100%	1h	0.02576	−0.102%	$69K	$481K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02574	−0.179%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02576	−0.100%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02576	−0.098%	$39K	—	3x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0598%	1h	0.02576	−0.110%	$9K	—	50x	as long as short
KuCoin MONUSDTM	+0.0266%	4h	0.02579	+0.014%	$3.0M	$716K	75x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02572	−0.257%	$1.4M	$308K	75x	as long as short
Kraken Futures PF_MONUSD	+0.0419%	1h	0.02578	−0.035%	$271K	$78K	10x	as long as short
Coinbase International MON-PERP-INTXshort	+0.0480%	1h	0.02609	+1.174%	$115K	$50K	50x