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: GRVT against Injective−0.040%7-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 GRVT

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

Funding pays, the price is against you. GRVT is 0.040% cheaper against Injective than usual: you would sell low and buy high (spread −0.040% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 2.2 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective MON/USDC PERP	0.02496	0.0039	pay 0.0005% / 1h	42m 57s	$5K	$111	5.5x
Short	GRVT MON_USDT_Perp	0.02495	0.0100	get 0.0050% / 4h	2h 42m	$562K	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice 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 Injective: 0.01 bp × 2 orders: −$0.02
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$0.24
Costs to cover: 0.090%
Break-even: 7.1 days

Slippage unknown: Injective: no order-book sample; GRVT: live order book, 5 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 GRVT live order book, 5 min ago	4.00 bp	28.7 bp −$29	63.5 bp −$635	doesn't fit	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
Backpack MON_USDC_PERP	−0.0091%	1h	0.02492	−0.168%	$110K	$153K	10x	as long as short
Phoenix MON	0.0000%	1h	0.02494	−0.084%	$12K	$355K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02491	−0.188%	$73K	$136K	25x	as long as short
Bybit MONUSDT	+0.0007%	8h	0.02491	−0.200%	$20.5M	$13.5M	50x	as long as short
Injective MON/USDC PERPlong	+0.0039%	1h	0.02496	long leg	$5K	$111	5.5x
Orderly PERP_MON_USDC	+0.0083%	4h	0.02491	−0.200%	$16K	$48K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02493	−0.120%	$836K	$732K	10x	as long as short
01 Exchange MONUSD	+0.0096%	1h	0.02489	−0.284%	$6K	$1K	5x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02491	−0.219%	$7K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02493	−0.108%	$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	−0.168%	$33.5M	$7.6M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02494	−0.081%	$100K	$218K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02493	−0.110%	$12K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02492	−0.160%	$138K	$92K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02493	−0.120%	$23.7M	$27.1M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02493	−0.120%	$4.2M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02500	+0.160%	$103K	$1K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02493	−0.120%	$920K	$1.0M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02499	+0.120%	$2.9M	$762K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02493	−0.120%	$2.7M	$2.2M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02490	−0.258%	$740K	$405K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02495	−0.021%	$41K	$251K	10x	as long as short
GRVT MON_USDT_Perpshort	+0.0100%	4h	0.02495	−0.040%	$562K	$1.5M	10x
ApeX Omni MONUSDT	+0.0100%	1h	0.02492	−0.160%	$68K	$527K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02490	−0.240%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02493	−0.135%	$48K	$285K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02490	−0.244%	$38K	—	3x	as long as short
Aftermath Perps MONUSD	+0.0248%	1h	0.02495	−0.028%	$2K	$78K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0259% / S −0.0429%	1h	0.02490	−0.252%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02487	−0.361%	$1.3M	$335K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02492	−0.168%	$114K	$2.2M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0456%	1h	0.02530	+1.362%	$110K	$55K	50x	as long as short
Kraken Futures PF_MONUSD	+0.1020%	1h	0.02494	−0.071%	$268K	$112K	10x	as long as short