Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.026%

Price spread now: Deribit against OKX+0.086%7-day average +0.083% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$600.598% of the position

Long on OKX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.069%+$7 on $10k

Price spread, last 3 days (all we have)+0.219%+$22 · spread now +0.086%, 7d avg +0.083%

Together, before fees+0.288%+$29 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.083%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.069%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MON-USDT-SWAP	0.02573	0.0100	pay 0.0050% / 4h	57m 14s	$4.3M	$5.9M	50x
Short	Deribit MON_USDC-PERPETUAL	0.02575	0	get 0.0000% / 1h	57m 14s	$70K	$119K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.086%Rate

Funding earned: −$21
Price spread: +0.086% → +0.083%: $0.21
Slippage, 4 orders: −$42.81
Fee OKX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$80.6
Costs to cover: 0.598%
Break-even: never at this rate

Slippage from OKX: live order book, 6 min ago; Deribit: live order book, 62 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, 6 min ago	1.96 bp	17.6 bp −$18	86.2 bp −$862	doesn't fit	doesn't fit
Sell Deribit live order book, 62 min ago	6.39 bp	9.9 bp −$10	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
Backpack MON_USDC_PERP	−0.0134%	1h	0.02573	−0.004%	$128K	$141K	10x	as long as short
Injective MON/USDC PERP	−0.0121%	1h	0.02575	+0.078%	$6K	$103	5.5x	as long as short
Bybit MONUSDT	−0.0073%	8h	0.02575	+0.078%	$21.3M	$11.9M	50x	as long as short
01 Exchange MONUSD	−0.0072%	1h	0.02571	−0.078%	$6K	$1K	5x	as long as short
Phoenix MON	0.0000%	1h	0.02576	+0.097%	$13K	$360K	5x	as long as short
Perpl MON	0.0000%	43m	0.02573	+0.016%	$128K	$1.8M	10x	as long as short
Deribit MON_USDC-PERPETUALshort	0.0000%	1h	0.02575	+0.086%	$70K	$119K	25x
Aftermath Perps MONUSD	+0.0020%	1h	0.02566	−0.268%	$2K	$74K	10x	as long as short
Orderly PERP_MON_USDC	+0.0066%	4h	0.02573	0.000%	$17K	$64K	10x	as long as short
Paradex MON-USD-PERP	+0.0090%	8h	0.02570	−0.109%	$8K	$42	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MON	+0.0096%	1h	0.02579	+0.233%	$861K	$772K	10x	as long as short
Variational Omni MON	+0.0099%	8h	0.02554	−0.732%	$772K	$408K	—	as long as short
Nado MON-PERP	+0.0100%	1h	0.02576	+0.100%	$391K	$545K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02575	+0.089%	$34.8M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02575	+0.073%	$108K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02573	+0.004%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02571	−0.062%	$142K	$105K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02577	+0.153%	$24.6M	$25.0M	75x	as long as short
OKX MON-USDT-SWAPlong	+0.0100%	4h	0.02573	long leg	$4.3M	$5.9M	50x
Bulk MON-USD	+0.0100%	1h	0.02555	−0.700%	$107K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02574	+0.039%	$993K	$866K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02576	+0.117%	$2.7M	$1.8M	25x	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02567	−0.238%	$47K	$242K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02558	−0.569%	$574K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02568	−0.194%	$68K	$482K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02574	+0.039%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02575	+0.092%	$51K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02575	+0.082%	$39K	—	3x	as long as short
KuCoin MONUSDTM	+0.0240%	4h	0.02574	+0.039%	$3.0M	$710K	75x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0598%	1h	0.02575	+0.089%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02577	+0.155%	$1.3M	$308K	75x	as long as short
Kraken Futures PF_MONUSD	+0.0419%	1h	0.02577	+0.169%	$271K	$78K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0480%	1h	0.02579	+0.241%	$114K	$50K	50x	as long as short