Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0099%/8h= +10.8% APRpaid last 24h +0.003%

Price spread now: Paradex against Phoenix+0.258%106s7-day average — · you sell dearer than you buy

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

Long on Phoenix 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

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Paradex is 0.258% dearer against Phoenix than usual: you sell high and buy low: +$26 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 106 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix MON	0.02469	0	get 0.0000% / 1h	23m 38s	$12K	$355K	5x
Short	Paradex MON-USD-PERP	0.02475	0.0099	get 0.0099% / 8h	2h 23m	$7K	$42	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Phoenix. 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 PhoenixbpFee ParadexbpOrdersPrice spread, now +0.258%Rate

Funding earned: $20.78
Price spread: +0.258% → 0.000%: $25.78
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: $35.56
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Phoenix: live order book, 23 min ago; 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 Phoenix live order book, 23 min ago	0.80 bp	12.9 bp −$13	52.5 bp −$525	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

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
Backpack MON_USDC_PERP	−0.0154%	1h	0.02479	+0.433%	$115K	$154K	10x	as long as short
Bybit MONUSDT	−0.0021%	8h	0.02474	+0.227%	$20.3M	$13.6M	50x	as long as short
01 Exchange MONUSD	0.0000%	1h	0.02476	+0.284%	$6K	$1K	5x	as long as short
Phoenix MONlong	0.0000%	1h	0.02469	long leg	$12K	$355K	5x
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02479	+0.433%	$73K	$135K	25x	as long as short
Injective MON/USDC PERP	+0.0039%	1h	0.02489	+0.826%	$5K	$113	5.5x	as long as short
Orderly PERP_MON_USDC	+0.0083%	4h	0.02479	+0.421%	$16K	$48K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02476	+0.300%	$809K	$765K	10x	as long as short
Paradex MON-USD-PERPshort	+0.0099%	8h	0.02475	+0.258%	$7K	$42	5x
Nado MON-PERP	+0.0100%	1h	0.02477	+0.348%	$407K	$570K	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	0.02478	+0.377%	$33.2M	$7.6M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02476	+0.320%	$98K	$221K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02478	+0.397%	$12K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02477	+0.340%	$137K	$92K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02476	+0.300%	$23.5M	$27.4M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02474	+0.219%	$4.1M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02475	+0.259%	$102K	$1K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02477	+0.340%	$926K	$1.0M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02480	+0.462%	$2.8M	$764K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02478	+0.381%	$2.7M	$2.2M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02467	−0.061%	$729K	$407K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02467	−0.065%	$41K	$250K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02477	+0.340%	$557K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02469	+0.016%	$67K	$528K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02479	+0.421%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02477	+0.353%	$47K	$283K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02477	+0.361%	$38K	—	3x	as long as short
Aftermath Perps MONUSD	+0.0185%	1h	0.02476	+0.299%	$5K	$81K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0230% / S −0.0246%	1h	0.02479	+0.429%	$6K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02477	+0.340%	$1.3M	$347K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02479	+0.409%	$113K	$2.2M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0456%	1h	0.02530	+2.487%	$110K	$54K	50x	as long as short
Kraken Futures PF_MONUSD	+0.1026%	1h	0.02481	+0.511%	$267K	$119K	10x	as long as short