Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0268%/8h= −29.4% APRpaid last 24h +0.030%

Price spread now: Deribit against Paradex+0.092%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Deribit

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

The price spread pays, funding is against you. Deribit is 0.092% dearer against Paradex than usual: you sell high and buy low (spread +0.092% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 28 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex MON-USD-PERP	0.02598	0.0095	pay 0.0095% / 8h	2h 33m	$8K	$42	5x
Short	Deribit MON_USDC-PERPETUAL	0.02600	−0.0173	pay 0.0022% / 1h	33m 57s	$63K	$110K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Paradex. 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 ParadexbpFee DeribitbpOrdersPrice spread, now +0.092%Rate

Funding earned: −$56.32
Price spread: +0.092% → 0.000%: $9.23
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$58.09
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Deribit: live order book, 30 min ago. 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 Paradex no order-book sample	—	—	—	—	—
Sell Deribit live order book, 30 min ago	8.25 bp	14.3 bp −$14	doesn't fit	doesn't fit	doesn't fit

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
Injective MON/USDC PERP	−0.0739%	1h	0.02596	−0.073%	$6K	$109	5.5x	as long as short
01 Exchange MONUSD	−0.0232%	1h	0.02599	+0.038%	$6K	$1K	5x	as long as short
Deribit MON_USDC-PERPETUALshort	−0.0173%	1h	0.02600	+0.092%	$63K	$110K	25x
Phoenix MON	0.0000%	1h	0.02595	−0.116%	$13K	$384K	5x	as long as short
Bybit MONUSDT	+0.0011%	8h	0.02596	−0.089%	$21.7M	$11.8M	50x	as long as short
Orderly PERP_MON_USDC	+0.0092%	4h	0.02598	+0.004%	$17K	$64K	10x	as long as short
BloFin MON-USDT	+0.0095%	4h	0.02596	−0.073%	$1.4M	$245K	75x	as long as short
Paradex MON-USD-PERPlong	+0.0095%	8h	0.02598	long leg	$8K	$42	5x
Lighter MON	+0.0096%	1h	0.02600	+0.081%	$852K	$753K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02604	+0.235%	$365K	$525K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid MON	+0.0100%	1h	0.02602	+0.154%	$35.1M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02600	+0.089%	$108K	$233K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02600	+0.079%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02598	+0.008%	$143K	$107K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02598	−0.008%	$24.7M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02594	−0.150%	$4.4M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02581	−0.658%	$108K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02600	+0.081%	$1.0M	$932K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02599	+0.042%	$2.8M	$1.8M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02592	−0.211%	$777K	$407K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02584	−0.520%	$47K	$242K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02597	−0.035%	$583K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02597	−0.035%	$69K	$482K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02598	+0.004%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02602	+0.162%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02598	+0.004%	$39K	—	3x	as long as short
Kraken Futures PF_MONUSD	+0.0131%	1h	0.02602	+0.175%	$268K	$67K	10x	as long as short
Backpack MON_USDC_PERP	+0.0249%	1h	0.02600	+0.073%	$138K	$137K	10x	as long as short
Aftermath Perps MONUSD	+0.0251%	1h	0.02593	−0.201%	$2K	$73K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02601	+0.104%	$9K	—	50x	as long as short
KuCoin MONUSDTM	+0.0344%	4h	0.02606	+0.312%	$3.2M	$745K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02598	+0.019%	$146K	$1.8M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0648%	1h	0.02609	+0.423%	$115K	$50K	50x	as long as short