Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0010%/8h= +1.1% APRpaid last 24h +0.007%

Price spread now: Paradex against Orderly−0.134%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Paradex

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 airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.134% cheaper against Orderly than usual: you would sell low and buy high (spread −0.134% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 47 days of funding at the current rate ($0 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_MON_USDC	0.02508	0.0078	pay 0.0039% / 4h	49m 28s	$16K	$41K	10x
Short	Paradex MON-USD-PERP	0.02505	0.0088	get 0.0088% / 8h	4h 49m	$8K	$42	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.134%Rate

Funding earned: $2.02
Price spread: −0.134% → 0.000%: −$13.43
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$21.41
Costs to cover: 0.100%
Break-even: 81.3 days

Slippage unknown: Orderly: no order-book sample; Paradex: 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 Paradex no order-book sample	—	—	—	—	—

Orderly and Paradex: 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
01 Exchange MONUSD	−0.0448%	1h	0.02497	−0.423%	$6K	$1K	5x	as long as short
Backpack MON_USDC_PERP	−0.0426%	1h	0.02509	+0.052%	$112K	$151K	10x	as long as short
Deribit MON_USDC-PERPETUAL	−0.0348%	1h	0.02509	+0.036%	$71K	$131K	25x	as long as short
Injective MON/USDC PERP	−0.0176%	1h	0.02517	+0.359%	$5K	$109	5.5x	as long as short
Bybit MONUSDT	−0.0149%	8h	0.02500	−0.303%	$20.6M	$13.2M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02510	+0.072%	$12K	$359K	5x	as long as short
Perpl MON	0.0000%	43m	0.02509	+0.044%	$107K	$2.3M	10x	as long as short
Orderly PERP_MON_USDClong	+0.0078%	4h	0.02508	long leg	$16K	$41K	10x
Paradex MON-USD-PERPshort	+0.0088%	8h	0.02505	−0.134%	$8K	$42	5x
Variational Omni MON	+0.0095%	8h	0.02507	−0.057%	$743K	$407K	—	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	0.02506	−0.080%	$835K	$735K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02508	−0.012%	$432K	$556K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02507	−0.028%	$33.9M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02508	−0.016%	$101K	$222K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02507	−0.038%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02505	−0.120%	$138K	$93K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02503	−0.199%	$23.8M	$26.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02501	−0.279%	$4.2M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02515	+0.267%	$103K	$5K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02504	−0.159%	$949K	$973K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02506	−0.080%	$2.8M	$747K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02505	−0.120%	$2.7M	$2.1M	25x	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02514	+0.250%	$41K	$250K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02516	+0.319%	$563K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02511	+0.120%	$68K	$505K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02506	−0.080%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02506	−0.079%	$52K	$517K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02509	+0.024%	$38K	—	3x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02510	+0.092%	$9K	—	50x	as long as short
Aftermath Perps MONUSD	+0.0276%	1h	0.02516	+0.330%	$2K	$74K	10x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02511	+0.120%	$1.3M	$325K	75x	as long as short
Coinbase International MON-PERP-INTX	+0.0408%	1h	0.02514	+0.219%	$110K	$57K	50x	as long as short
Kraken Futures PF_MONUSD	+0.0543%	1h	0.02508	+0.016%	$269K	$117K	10x	as long as short