Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0498%/8h= +54.5% APRpaid last 24h +0.091%

Price spread now: GMX against GRVT−0.291%69s7-day average — · you buy dearer than you sell

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

Long on GRVT Short on GMX

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

Funding pays, the price is against you. GMX is 0.291% cheaper against GRVT than usual: you would sell low and buy high (spread −0.291% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$29 on $10k: about 47 hours of funding at the current rate (+$15 a day). 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	GRVT MON_USDT_Perp	0.02577	0.0100	pay 0.0050% / 4h	29m 44s	$584K	$1.5M	10x
Short	GMX MON/USD [ETH-USDC]	0.02569	L +0.0260% / S −0.0598%	get 0.0075% / 1h	29m 44s	$8K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.291%Rate

Funding earned: $104.54
Price spread: −0.291% → 0.000%: −$29.1
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee GMX: 6 bp × 2 orders: −$12
Net: $54.44
Costs to cover: 0.210%
Break-even: 3.4 days

Slippage unknown: GRVT: live order book, 4 min ago; GMX: no order-book sample. 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 GRVT live order book, 4 min ago	3.88 bp	41.2 bp −$41	164.7 bp −$1,647	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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	0.02576	−0.039%	$6K	$107	5.5x	as long as short
01 Exchange MONUSD	−0.0064%	1h	0.02569	−0.314%	$6K	$1K	5x	as long as short
Bybit MONUSDT	−0.0033%	8h	0.02568	−0.349%	$21.3M	$12.0M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02576	−0.031%	$13K	$360K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02570	−0.272%	$69K	$119K	25x	as long as short
Orderly PERP_MON_USDC	+0.0069%	4h	0.02569	−0.310%	$17K	$64K	10x	as long as short
Aftermath Perps MONUSD	+0.0082%	1h	0.02577	−0.018%	$2K	$75K	10x	as long as short
Paradex MON-USD-PERP	+0.0094%	8h	0.02568	−0.336%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02571	−0.233%	$854K	$793K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02574	−0.135%	$392K	$544K	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	0.02572	−0.194%	$34.8M	$7.6M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02570	−0.288%	$108K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02573	−0.170%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02570	−0.272%	$142K	$105K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02570	−0.272%	$24.5M	$25.4M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02567	−0.388%	$4.3M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02570	−0.272%	$108K	$390	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02569	−0.310%	$978K	$909K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02571	−0.233%	$2.7M	$1.9M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02570	−0.283%	$128K	$141K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02568	−0.341%	$778K	$408K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02574	−0.118%	$47K	$244K	10x	as long as short
GRVT MON_USDT_Perplong	+0.0100%	4h	0.02577	long leg	$584K	$1.5M	10x
ApeX Omni MONUSDT	+0.0100%	1h	0.02575	−0.078%	$69K	$481K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02569	−0.310%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02573	−0.154%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02570	−0.287%	$39K	—	3x	as long as short
KuCoin MONUSDTM	+0.0256%	4h	0.02572	−0.194%	$3.0M	$716K	75x	as long as short
GMX MON/USD [ETH-USDC]short	L +0.0260% / S −0.0598%	1h	0.02569	−0.291%	$8K	—	50x
BloFin MON-USDT	+0.0340%	4h	0.02570	−0.272%	$1.4M	$308K	75x	as long as short
Kraken Futures PF_MONUSD	+0.0420%	1h	0.02573	−0.137%	$270K	$78K	10x	as long as short
Perpl MON	+0.0447%	43m	0.02570	−0.276%	$126K	$1.8M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0480%	1h	0.02609	+1.238%	$115K	$50K	50x	as long as short