Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0531%/8h= +58.2% APRpaid last 24h +0.067%

Price spread now: GMX against Orderly+0.078%7-day average — · you sell dearer than you buy

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

Long on Orderly 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

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and GMX is 0.078% dearer against Orderly than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_MON_USDC	0.02565	0.0067	pay 0.0033% / 4h	1h 12m	$17K	$64K	10x
Short	GMX MON/USD [ETH-USDC]	0.02567	L +0.0260% / S −0.0598%	get 0.0075% / 1h	12m 48s	$8K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Orderly. 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 OrderlybpFee GMXbpOrdersPrice spread, now +0.078%Rate

Funding earned: $111.57
Price spread: +0.078% → 0.000%: $7.8
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: $101.37
Costs to cover: 0.180%
Break-even: 0.6 days

Slippage unknown: Orderly: no order-book sample; 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 Orderly no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

Orderly and 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 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
Bybit MONUSDT	−0.0060%	8h	0.02564	−0.058%	$21.3M	$11.8M	50x	as long as short
Injective MON/USDC PERP	−0.0053%	1h	0.02575	+0.390%	$6K	$109	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02576	+0.417%	$13K	$362K	5x	as long as short
Perpl MON	0.0000%	43m	0.02567	+0.082%	$142K	$1.8M	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02567	+0.074%	$69K	$119K	25x	as long as short
Aftermath Perps MONUSD	+0.0027%	1h	0.02576	+0.424%	$2K	$73K	10x	as long as short
01 Exchange MONUSD	+0.0032%	1h	0.02570	+0.203%	$6K	$1K	5x	as long as short
Orderly PERP_MON_USDClong	+0.0067%	4h	0.02565	long leg	$17K	$64K	10x
Paradex MON-USD-PERP	+0.0086%	8h	0.02572	+0.289%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02569	+0.156%	$851K	$773K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado MON-PERP	+0.0100%	1h	0.02573	+0.325%	$387K	$540K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02570	+0.199%	$34.8M	$7.4M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02572	+0.265%	$108K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02569	+0.169%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02573	+0.327%	$142K	$104K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02568	+0.117%	$24.4M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02565	0.000%	$4.3M	$5.8M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02578	+0.490%	$108K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02570	+0.195%	$996K	$873K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02568	+0.117%	$2.7M	$1.8M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02567	+0.078%	$127K	$138K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02571	+0.241%	$779K	$406K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02574	+0.369%	$47K	$244K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02577	+0.468%	$578K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02576	+0.429%	$69K	$480K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02567	+0.078%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02571	+0.247%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02567	+0.082%	$39K	—	3x	as long as short
Kraken Futures PF_MONUSD	+0.0174%	1h	0.02570	+0.194%	$270K	$78K	10x	as long as short
GMX MON/USD [ETH-USDC]short	L +0.0260% / S −0.0598%	1h	0.02567	+0.078%	$8K	—	50x
KuCoin MONUSDTM	+0.0308%	4h	0.02575	+0.390%	$3.2M	$667K	75x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02570	+0.195%	$1.3M	$292K	75x	as long as short
Coinbase International MON-PERP-INTX	+0.0536%	1h	0.02607	+1.626%	$114K	$49K	50x	as long as short