Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0089%/8h= +9.8% APRpaid last 24h +0.019%

Price spread now: Deribit against Binance+0.032%55s7-day average +0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$590.592% of the position

Long on Binance Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.028%+$3 on $10k

Price spread, last 4 days (all we have)+0.334%+$33 · spread now +0.032%, 7d avg +0.041%

Together, before fees+0.362%+$36 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.041%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. The two prices were read 55 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	Binance MONUSDT	0.02504	0.0100	pay 0.0050% / 4h	22m 26s	$23.8M	$26.9M	75x
Short	Deribit MON_USDC-PERPETUAL	0.02505	0.0189	get 0.0024% / 1h	22m 26s	$74K	$136K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Binance. 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 BinancebpFee DeribitbpOrdersPrice spread, now +0.032%Rate

Funding earned: $18.76
Price spread: +0.032% → +0.041%: −$0.9
Slippage, 4 orders: −$42.16
Fee Binance: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$41.29
Costs to cover: 0.592%
Break-even: 22.4 days

Slippage from Binance: live order book, 4 min ago; Deribit: live order book, 11 min ago.

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 Binance live order book, 4 min ago	2.00 bp	15.5 bp −$16	53.4 bp −$534	430.6 bp −$43.1K	doesn't fit
Sell Deribit live order book, 11 min ago	9.20 bp	12.7 bp −$13	doesn't fit	doesn't fit	doesn't fit

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	−0.0256%	1h	0.02505	+0.020%	$6K	$1K	5x	as long as short
Backpack MON_USDC_PERP	−0.0199%	1h	0.02506	+0.068%	$113K	$151K	10x	as long as short
Injective MON/USDC PERP	−0.0176%	1h	0.02498	−0.239%	$5K	$112	5.5x	as long as short
Bybit MONUSDT	−0.0150%	8h	0.02501	−0.112%	$20.6M	$13.3M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02505	+0.032%	$12K	$359K	5x	as long as short
Perpl MON	0.0000%	43m	0.02505	+0.048%	$107K	$2.3M	10x	as long as short
Orderly PERP_MON_USDC	+0.0071%	4h	0.02504	0.000%	$16K	$41K	10x	as long as short
Variational Omni MON	+0.0077%	8h	0.02502	−0.098%	$740K	$409K	—	as long as short
Paradex MON-USD-PERP	+0.0092%	8h	0.02502	−0.093%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02505	+0.040%	$843K	$749K	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	0.02506	+0.093%	$425K	$574K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02506	+0.076%	$33.8M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02505	+0.053%	$101K	$222K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02508	+0.144%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02505	+0.040%	$138K	$93K	3x	as long as short
Binance MONUSDTlong	+0.0100%	4h	0.02504	long leg	$23.8M	$26.9M	75x
OKX MON-USDT-SWAP	+0.0100%	4h	0.02502	−0.080%	$4.2M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02505	+0.035%	$103K	$5K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02503	−0.040%	$939K	$993K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02506	+0.080%	$2.8M	$757K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02505	+0.040%	$2.7M	$2.2M	25x	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02504	−0.006%	$41K	$250K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02508	+0.152%	$562K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02505	+0.040%	$67K	$510K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02504	0.000%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02505	+0.044%	$48K	$517K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02503	−0.040%	$38K	—	3x	as long as short
Deribit MON_USDC-PERPETUALshort	+0.0189%	1h	0.02505	+0.032%	$74K	$136K	25x
Aftermath Perps MONUSD	+0.0249%	1h	0.02506	+0.063%	$2K	$74K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02504	−0.016%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02506	+0.080%	$1.3M	$338K	75x	as long as short
Coinbase International MON-PERP-INTX	+0.0408%	1h	0.02528	+0.971%	$110K	$57K	50x	as long as short
Kraken Futures PF_MONUSD	+0.0543%	1h	0.02508	+0.153%	$269K	$114K	10x	as long as short