Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0329%/8h= +36.1% APRpaid last 24h +0.080%

Price spread now: GMX against Variational Omni−0.438%7-day average — · you buy dearer than you sell

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

Long on Variational Omni 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—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. GMX is 0.438% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.438% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$44 on $10k: about 4.4 days of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MON	0.02547	0.0100	pay 0.0100% / 8h	6h 08m	$758K	$419K	—
Short	GMX MON/USD [ETH-USDC]	0.02535	L +0.0260% / S −0.0429%	get 0.0054% / 1h	8m 45s	$9K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Variational Omni. 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 Variational OmnibpFee GMXbpOrdersPrice spread, now −0.438%Rate

Funding earned: $69.15
Price spread: −0.438% → 0.000%: −$43.8
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: $13.35
Costs to cover: 0.120%
Break-even: 5.6 days

Slippage unknown: Variational Omni: RFQ quote, 60 min ago; 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 Variational Omni RFQ quote, 60 min ago	7.70 bp	doesn't fit	119.4 bp −$1,194	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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 32 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	−0.0388%	1h	0.02546	−0.022%	$6K	$109	5.5x	as long as short
Bybit MONUSDT	−0.0090%	8h	0.02533	−0.532%	$20.8M	$12.8M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02552	+0.214%	$13K	$349K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02536	−0.426%	$68K	$125K	25x	as long as short
01 Exchange MONUSD	+0.0016%	1h	0.02536	−0.430%	$6K	$1K	5x	as long as short
Orderly PERP_MON_USDC	+0.0068%	4h	0.02537	−0.375%	$16K	$51K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02539	−0.297%	$846K	$742K	10x	as long as short
Paradex MON-USD-PERP	+0.0098%	8h	0.02534	−0.487%	$8K	$42	5x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02539	−0.316%	$34.4M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02537	−0.368%	$101K	$229K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX MON-USD	+0.0100%	1h	0.02541	−0.224%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02537	−0.375%	$140K	$104K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02535	−0.435%	$24.2M	$26.0M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02535	−0.454%	$4.2M	$5.8M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02545	−0.066%	$106K	$4K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02534	−0.493%	$947K	$906K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02537	−0.375%	$2.9M	$743K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02538	−0.336%	$2.7M	$2.0M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02537	−0.391%	$118K	$156K	10x	as long as short
Variational Omni MONlong	+0.0100%	8h	0.02547	long leg	$758K	$419K	—
edgeX MONUSDC	+0.0100%	4h	0.02550	+0.126%	$44K	$247K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02552	+0.204%	$571K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02551	+0.175%	$68K	$497K	50x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02538	−0.343%	$407K	$545K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02535	−0.454%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02539	−0.316%	$51K	$513K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02534	−0.473%	$38K	—	3x	as long as short
GMX MON/USD [ETH-USDC]short	L +0.0260% / S −0.0429%	1h	0.02535	−0.438%	$9K	—	50x
Aftermath Perps MONUSD	+0.0285%	1h	0.02548	+0.041%	$2K	$79K	10x	as long as short
Perpl MON	+0.0447%	43m	0.02537	−0.371%	$106K	$2.3M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0744%	1h	0.02556	+0.363%	$112K	$52K	50x	as long as short
Kraken Futures PF_MONUSD	+0.0842%	1h	0.02539	−0.293%	$267K	$97K	10x	as long as short