Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.014%

Price spread now: Deribit against GRVT+0.067%7-day average −0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$108as in the Funding arb table

Net, price: spread back to 7d avg − costs−$99as in the Price arb table

costs, in and out, $10k−$1091.092% of the position

Long on GRVT Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 4 days (all we have)+0.396%+$40 · spread now +0.067%, 7d avg −0.039%

Together, before fees+0.405%+ Points / potential airdropGRVT: Active · farm board+$40 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.106% dearer against GRVT than usual: you sell high and buy low (spread +0.067% now, against its 7-day average of −0.039%): +$11 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT MON_USDT_Perp	0.02530	0.0100	pay 0.0050% / 4h	1h 17m	$566K	$1.5M	10x
Short	Deribit MON_USDC-PERPETUAL	0.02532	0	get 0.0000% / 1h	17m 07s	$68K	$125K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.067%Rate

Funding earned: −$21
Price spread: +0.067% → −0.039%: $10.58
Slippage, 4 orders: −$93.18
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$119.6
Costs to cover: 1.092%
Break-even: never at this rate

Slippage from GRVT: live order book, 1 min ago; Deribit: live order book, 22 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	1.97 bp	34.9 bp −$35	192.8 bp −$1,928	doesn't fit	doesn't fit
Sell Deribit live order book, 22 min ago	11.47 bp	15.0 bp −$15	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	0.02528	−0.087%	$12K	$367K	5x	as long as short
Backpack MON_USDC_PERP	−0.0270%	1h	0.02533	+0.114%	$112K	$152K	10x	as long as short
Injective MON/USDC PERP	−0.0253%	1h	0.02535	+0.182%	$6K	$111	5.5x	as long as short
Bybit MONUSDT	−0.0157%	8h	0.02529	−0.055%	$20.7M	$13.1M	50x	as long as short
01 Exchange MONUSD	−0.0024%	1h	0.02529	−0.048%	$6K	$1K	5x	as long as short
Perpl MON	0.0000%	43m	0.02533	+0.099%	$105K	$2.3M	10x	as long as short
Deribit MON_USDC-PERPETUALshort	0.0000%	1h	0.02532	+0.067%	$68K	$125K	25x
Orderly PERP_MON_USDC	+0.0084%	4h	0.02533	+0.103%	$16K	$51K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02533	+0.103%	$845K	$738K	10x	as long as short
Paradex MON-USD-PERP	+0.0099%	8h	0.02531	+0.019%	$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	0.02535	+0.180%	$413K	$543K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02533	+0.122%	$34.3M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02531	+0.008%	$101K	$222K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02531	+0.033%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02532	+0.063%	$140K	$93K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02531	+0.024%	$24.1M	$26.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02529	−0.055%	$4.2M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02520	−0.410%	$103K	$5K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02530	−0.016%	$952K	$965K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02534	+0.142%	$2.9M	$743K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02533	+0.103%	$2.7M	$2.1M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02531	+0.025%	$753K	$405K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02528	−0.083%	$42K	$250K	10x	as long as short
GRVT MON_USDT_Perplong	+0.0100%	4h	0.02530	long leg	$566K	$1.5M	10x
ApeX Omni MONUSDT	+0.0100%	1h	0.02537	+0.261%	$68K	$501K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02531	+0.024%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02534	+0.150%	$48K	$518K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02532	+0.043%	$38K	—	3x	as long as short
Aftermath Perps MONUSD	+0.0247%	1h	0.02532	+0.044%	$2K	$74K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02532	+0.071%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02527	−0.134%	$1.3M	$320K	75x	as long as short
Kraken Futures PF_MONUSD	+0.0491%	1h	0.02535	+0.185%	$271K	$112K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0536%	1h	0.02541	+0.427%	$112K	$58K	50x	as long as short