Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0548%/8h= +60.0% APRpaid last 24h +0.222%

Price spread now: Coinbase International against OKX+0.601%7-day average +0.525% · you sell dearer than you buy

Net, funding: paid 7d − costs−$226as in the Funding arb table

Net, price: spread back to 7d avg − costs−$315as in the Price arb table

costs, in and out, $10k−$3233.227% of the position

Long on OKX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.962%+$96 on $10k

Price spread, last 3 days (all we have)+0.144%+$14 · spread now +0.601%, 7d avg +0.525%

Together, before fees+1.106%+$111 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Coinbase International is 0.076% dearer against OKX than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.525%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MON-USDT-SWAP	0.02580	0.0100	pay 0.0050% / 4h	2h 45m	$4.4M	$6.0M	50x
Short	Coinbase International MON-PERP-INTX	0.02595	0.0648	get 0.0081% / 1h	45m 50s	$114K	$51K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against OKX. 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 OKXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.601%Rate

Funding earned: $115.08
Price spread: +0.601% → +0.525%: $7.61
Slippage, 4 orders: −$302.67
Fee OKX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$199.98
Costs to cover: 3.227%
Break-even: 19.2 days

Slippage from OKX: live order book, 2 min ago; Coinbase International: live order book, 42 min ago.

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 OKX live order book, 2 min ago	1.93 bp	20.6 bp −$21	90.5 bp −$905	doesn't fit	doesn't fit
Sell Coinbase International live order book, 42 min ago	39.55 bp	143.9 bp −$144	doesn't fit	doesn't fit	doesn't fit

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	−0.0739%	1h	0.02587	+0.271%	$6K	$107	5.5x	as long as short
01 Exchange MONUSD	−0.0112%	1h	0.02589	+0.337%	$6K	$1K	5x	as long as short
Deribit MON_USDC-PERPETUAL	−0.0059%	1h	0.02586	+0.252%	$63K	$110K	25x	as long as short
Phoenix MON	0.0000%	1h	0.02579	−0.019%	$13K	$384K	5x	as long as short
Bybit MONUSDT	+0.0012%	8h	0.02582	+0.078%	$21.6M	$11.8M	50x	as long as short
Orderly PERP_MON_USDC	+0.0092%	4h	0.02585	+0.194%	$17K	$64K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02584	+0.155%	$847K	$753K	10x	as long as short
Paradex MON-USD-PERP	+0.0099%	8h	0.02587	+0.277%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02592	+0.451%	$349K	$534K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02586	+0.240%	$34.8M	$7.5M	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	0.02587	+0.276%	$108K	$233K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02587	+0.283%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02587	+0.271%	$143K	$107K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02583	+0.111%	$24.5M	$24.5M	75x	as long as short
OKX MON-USDT-SWAPlong	+0.0100%	4h	0.02580	long leg	$4.4M	$6.0M	50x
Bulk MON-USD	+0.0100%	1h	0.02575	−0.194%	$108K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02586	+0.233%	$1.0M	$928K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02585	+0.194%	$2.7M	$1.8M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02573	−0.290%	$773K	$405K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02578	−0.080%	$47K	$243K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02581	+0.040%	$580K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02578	−0.078%	$69K	$482K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02583	+0.116%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02586	+0.233%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02584	+0.167%	$39K	—	3x	as long as short
Kraken Futures PF_MONUSD	+0.0132%	1h	0.02586	+0.247%	$263K	$63K	10x	as long as short
BloFin MON-USDT	+0.0155%	4h	0.02587	+0.271%	$1.4M	$243K	75x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02587	+0.271%	$9K	—	50x	as long as short
Backpack MON_USDC_PERP	+0.0281%	1h	0.02585	+0.190%	$137K	$137K	10x	as long as short
KuCoin MONUSDTM	+0.0360%	4h	0.02593	+0.504%	$3.2M	$789K	75x	as long as short
Aftermath Perps MONUSD	+0.0391%	1h	0.02584	+0.162%	$2K	$73K	10x	as long as short
Perpl MON	+0.0447%	43m	0.02589	+0.337%	$145K	$1.8M	10x	as long as short
Coinbase International MON-PERP-INTXshort	+0.0648%	1h	0.02595	+0.601%	$114K	$51K	50x