Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0544%/8h= +59.5% APRpaid last 24h +0.007%

Price spread now: Binance against Injective−0.075%107s7-day average — · you buy dearer than you sell

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

Long on Injective Short on Binance

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—needs both histories

Funding pays, the price is against you. Binance is 0.075% cheaper against Injective than usual: you would sell low and buy high (spread −0.075% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 11 hours of funding at the current rate (+$16 a day). The two prices were read 107 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	Injective MON/USDC PERP	0.02576	−0.0444	get 0.0055% / 1h	19m 40s	$6K	$107	5.5x
Short	Binance MONUSDT	0.02574	0.0100	get 0.0050% / 4h	3h 19m	$24.6M	$25.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Injective. 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 InjectivebpFee BinancebpOrdersPrice spread, now −0.075%Rate

Funding earned: $114.15
Price spread: −0.075% → 0.000%: −$7.5
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: $96.63
Costs to cover: 0.100%
Break-even: 1.1 days

Slippage unknown: Injective: no order-book sample; Binance: live order book, 7 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 Injective no order-book sample	—	—	—	—	—
Sell Binance live order book, 7 min ago	1.93 bp	11.9 bp −$12	56.1 bp −$561	357.8 bp −$35.8K	doesn't fit

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
Injective MON/USDC PERPlong	−0.0444%	1h	0.02576	long leg	$6K	$107	5.5x
Phoenix MON	0.0000%	1h	0.02577	+0.047%	$13K	$351K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02580	+0.163%	$70K	$119K	25x	as long as short
01 Exchange MONUSD	+0.0032%	1h	0.02573	−0.124%	$6K	$1K	5x	as long as short
Orderly PERP_MON_USDC	+0.0064%	4h	0.02579	+0.116%	$17K	$64K	10x	as long as short
Bybit MONUSDT	+0.0086%	8h	0.02573	−0.136%	$21.4M	$12.1M	50x	as long as short
Paradex MON-USD-PERP	+0.0090%	8h	0.02576	+0.010%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02579	+0.116%	$859K	$755K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02583	+0.256%	$396K	$529K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02582	+0.237%	$35.1M	$7.3M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster MONUSDT	+0.0100%	4h	0.02579	+0.133%	$107K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02579	+0.099%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02578	+0.070%	$142K	$103K	3x	as long as short
Binance MONUSDTshort	+0.0100%	4h	0.02574	−0.075%	$24.6M	$25.3M	75x
OKX MON-USDT-SWAP	+0.0100%	4h	0.02571	−0.194%	$4.3M	$5.8M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02580	+0.155%	$106K	$2K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02575	−0.039%	$972K	$912K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02577	+0.039%	$2.8M	$1.9M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02580	+0.144%	$129K	$141K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02576	+0.003%	$775K	$411K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02576	−0.014%	$44K	$248K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02578	+0.078%	$576K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02580	+0.155%	$69K	$487K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02579	+0.116%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02580	+0.164%	$49K	$520K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02578	+0.097%	$39K	—	3x	as long as short
KuCoin MONUSDTM	+0.0146%	4h	0.02580	+0.155%	$3.0M	$721K	75x	as long as short
Aftermath Perps MONUSD	+0.0186%	1h	0.02580	+0.171%	$4K	$74K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02581	+0.186%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02577	+0.039%	$1.4M	$307K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02579	+0.128%	$167K	$2.0M	10x	as long as short
Kraken Futures PF_MONUSD	+0.0463%	1h	0.02582	+0.248%	$271K	$78K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0808%	1h	0.02584	+0.314%	$113K	$51K	50x	as long as short