Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0329%/8h= +36.1% APRpaid last 24h +0.080%

Price spread now: GMX against Binance−0.059%7-day average — · you buy dearer than you sell

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

Long on Binance 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—needs both histories

Funding pays, the price is against you. GMX is 0.059% cheaper against Binance than usual: you would sell low and buy high (spread −0.059% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 14 hours of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MONUSDT	0.02525	0.0100	pay 0.0050% / 4h	1h 57m	$24.1M	$25.9M	75x
Short	GMX MON/USD [ETH-USDC]	0.02524	L +0.0260% / S −0.0429%	get 0.0054% / 1h	57m 10s	$9K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.059%Rate

Funding earned: $69.15
Price spread: −0.059% → 0.000%: −$5.94
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $41.21
Costs to cover: 0.220%
Break-even: 2.8 days

Slippage unknown: Binance: live order book, 14 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 Binance live order book, 14 min ago	3.92 bp	13.1 bp −$13	45.6 bp −$456	469.8 bp −$47.0K	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	−0.0253%	1h	0.02546	+0.832%	$6K	$105	5.5x	as long as short
Backpack MON_USDC_PERP	−0.0152%	1h	0.02525	+0.020%	$117K	$149K	10x	as long as short
Bybit MONUSDT	−0.0070%	8h	0.02522	−0.119%	$20.7M	$12.8M	50x	as long as short
01 Exchange MONUSD	−0.0024%	1h	0.02522	−0.123%	$6K	$1K	5x	as long as short
Phoenix MON	0.0000%	1h	0.02536	+0.451%	$13K	$345K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02524	−0.032%	$68K	$125K	25x	as long as short
Orderly PERP_MON_USDC	+0.0077%	4h	0.02524	−0.040%	$16K	$51K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02526	+0.040%	$842K	$738K	10x	as long as short
Paradex MON-USD-PERP	+0.0098%	8h	0.02522	−0.114%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02526	+0.043%	$404K	$539K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid MON	+0.0100%	1h	0.02526	+0.051%	$34.2M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02529	+0.159%	$101K	$229K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02524	−0.048%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02523	−0.063%	$140K	$93K	3x	as long as short
Binance MONUSDTlong	+0.0100%	4h	0.02525	long leg	$24.1M	$25.9M	75x
OKX MON-USDT-SWAP	+0.0100%	4h	0.02523	−0.079%	$4.2M	$5.8M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02531	+0.223%	$105K	$4K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02524	−0.040%	$935K	$901K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02529	+0.158%	$2.9M	$742K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02524	−0.040%	$2.7M	$2.0M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02533	+0.299%	$753K	$404K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02535	+0.399%	$43K	$249K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02534	+0.343%	$567K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02532	+0.277%	$68K	$498K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02523	−0.079%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02526	+0.036%	$48K	$517K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02524	−0.059%	$38K	—	3x	as long as short
GMX MON/USD [ETH-USDC]short	L +0.0260% / S −0.0429%	1h	0.02524	−0.059%	$9K	—	50x
Aftermath Perps MONUSD	+0.0313%	1h	0.02534	+0.369%	$2K	$74K	10x	as long as short
Perpl MON	+0.0447%	43m	0.02525	−0.012%	$106K	$2.3M	10x	as long as short
Kraken Futures PF_MONUSD	+0.0492%	1h	0.02526	+0.041%	$266K	$97K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0536%	1h	0.02556	+1.220%	$112K	$52K	50x	as long as short