Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0329%/8h= +36.1% APRpaid last 24h +0.016%

Price spread now: GMX against KuCoin−0.258%7-day average — · you buy dearer than you sell

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

Long on KuCoin 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—needs both histories

Funding pays, the price is against you. GMX is 0.258% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.258% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$26 on $10k: about 2.6 days of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MONUSDTM	0.02558	0.0100	pay 0.0050% / 4h	2h 23m	$2.9M	$744K	75x
Short	GMX MON/USD [ETH-USDC]	0.02551	L +0.0260% / S −0.0429%	get 0.0054% / 1h	23m 52s	$9K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against KuCoin. 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 KuCoinbpFee GMXbpOrdersPrice spread, now −0.258%Rate

Funding earned: $69.15
Price spread: −0.258% → 0.000%: −$25.8
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $19.35
Costs to cover: 0.240%
Break-even: 5.0 days

Slippage unknown: KuCoin: live order book, 8 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 KuCoin live order book, 8 min ago	11.82 bp	42.6 bp −$43	613.5 bp −$6,135	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 32 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	−0.0388%	1h	0.02522	−1.407%	$5K	$108	5.5x	as long as short
Bybit MONUSDT	−0.0086%	8h	0.02550	−0.313%	$20.9M	$12.8M	50x	as long as short
01 Exchange MONUSD	0.0000%	1h	0.02552	−0.238%	$6K	$1K	5x	as long as short
Phoenix MON	0.0000%	1h	0.02543	−0.586%	$13K	$349K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02552	−0.238%	$69K	$125K	25x	as long as short
Orderly PERP_MON_USDC	+0.0061%	4h	0.02553	−0.195%	$16K	$51K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02554	−0.156%	$851K	$742K	10x	as long as short
Paradex MON-USD-PERP	+0.0097%	8h	0.02551	−0.280%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02553	−0.199%	$410K	$545K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02555	−0.106%	$34.7M	$7.6M	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster MONUSDT	+0.0100%	4h	0.02553	−0.184%	$102K	$229K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02552	−0.225%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02554	−0.156%	$141K	$104K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02553	−0.186%	$24.3M	$26.0M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02551	−0.274%	$4.3M	$5.9M	50x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02553	−0.195%	$956K	$904K	50x	as long as short
KuCoin MONUSDTMlong	+0.0100%	4h	0.02558	long leg	$2.9M	$744K	75x
Bitget MONUSDT	+0.0100%	4h	0.02553	−0.195%	$2.7M	$2.0M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02555	−0.129%	$119K	$157K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02552	−0.251%	$759K	$419K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02550	−0.305%	$44K	$247K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02554	−0.156%	$573K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02541	−0.665%	$68K	$493K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02551	−0.274%	$5K	$6K	5x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02550	−0.313%	$106K	$4K	10x	as long as short
Extended MON-USD	+0.0104%	1h	0.02555	−0.111%	$51K	$517K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02551	−0.254%	$39K	—	3x	as long as short
GMX MON/USD [ETH-USDC]short	L +0.0260% / S −0.0429%	1h	0.02551	−0.258%	$9K	—	50x
Aftermath Perps MONUSD	+0.0346%	1h	0.02546	−0.486%	$3K	$77K	10x	as long as short
Perpl MON	+0.0447%	43m	0.02553	−0.199%	$156K	$2.2M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0744%	1h	0.02553	−0.180%	$112K	$52K	50x	as long as short
Kraken Futures PF_MONUSD	+0.0837%	1h	0.02555	−0.108%	$278K	$88K	10x	as long as short