Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0061%/8h= −6.7% APRpaid last 24h −0.029%

Price spread now: Injective against GRVT+0.040%7-day average — · you sell dearer than you buy

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

Long on GRVT Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 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. Injective is 0.040% dearer against GRVT than usual: you sell high and buy low (spread +0.040% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT MON_USDT_Perp	0.02495	0.0100	pay 0.0050% / 4h	2h 42m	$562K	$1.5M	10x
Short	Injective MON/USDC PERP	0.02496	0.0039	get 0.0005% / 1h	42m 56s	$5K	$111	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.040%Rate

Funding earned: −$12.79
Price spread: +0.040% → 0.000%: $4.01
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$17.8
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 5 min ago; Injective: 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, 5 min ago	4.00 bp	32.9 bp −$33	5592.2 bp −$55.9K	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
Backpack MON_USDC_PERP	−0.0091%	1h	0.02492	−0.128%	$110K	$153K	10x	as long as short
Phoenix MON	0.0000%	1h	0.02494	−0.044%	$12K	$355K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02491	−0.148%	$73K	$136K	25x	as long as short
Bybit MONUSDT	+0.0007%	8h	0.02491	−0.160%	$20.5M	$13.5M	50x	as long as short
Injective MON/USDC PERPshort	+0.0039%	1h	0.02496	+0.040%	$5K	$111	5.5x
Orderly PERP_MON_USDC	+0.0083%	4h	0.02491	−0.160%	$16K	$48K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02493	−0.080%	$836K	$732K	10x	as long as short
01 Exchange MONUSD	+0.0096%	1h	0.02489	−0.244%	$6K	$1K	5x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02491	−0.179%	$7K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02493	−0.068%	$404K	$586K	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	0.02492	−0.128%	$33.5M	$7.6M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02494	−0.041%	$100K	$218K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02493	−0.070%	$12K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02492	−0.120%	$138K	$92K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02493	−0.080%	$23.7M	$27.1M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02493	−0.080%	$4.2M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02500	+0.200%	$103K	$1K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02493	−0.080%	$920K	$1.0M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02499	+0.160%	$2.9M	$762K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02493	−0.080%	$2.7M	$2.2M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02490	−0.218%	$740K	$405K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02495	+0.019%	$41K	$251K	10x	as long as short
GRVT MON_USDT_Perplong	+0.0100%	4h	0.02495	long leg	$562K	$1.5M	10x
ApeX Omni MONUSDT	+0.0100%	1h	0.02492	−0.120%	$68K	$527K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02490	−0.200%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02493	−0.095%	$48K	$285K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02490	−0.204%	$38K	—	3x	as long as short
Aftermath Perps MONUSD	+0.0248%	1h	0.02495	+0.012%	$2K	$78K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0259% / S −0.0429%	1h	0.02490	−0.212%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02487	−0.321%	$1.3M	$335K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02492	−0.128%	$114K	$2.2M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0456%	1h	0.02530	+1.403%	$110K	$55K	50x	as long as short
Kraken Futures PF_MONUSD	+0.1020%	1h	0.02494	−0.031%	$268K	$112K	10x	as long as short