Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0146%/8h= +16.0% APRpaid last 24h +0.105%

Price spread now: GMX against Bybit+0.032%7-day average — · you sell dearer than you buy

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

Long on Bybit 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

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and GMX is 0.032% dearer against Bybit than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MONUSDT	0.02502	0.0100	pay 0.0100% / 8h	18m 11s	$20.8M	$13.9M	50x
Short	GMX MON/USD [ETH-USDC]	0.02503	L +0.0231% / S −0.0246%	get 0.0031% / 1h	18m 11s	$6K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bybit. 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 BybitbpFee GMXbpOrdersPrice spread, now +0.032%Rate

Funding earned: $30.73
Price spread: +0.032% → 0.000%: $3.2
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GMX: 6 bp × 2 orders: −$12
Net: $10.93
Costs to cover: 0.230%
Break-even: 4.5 days

Slippage unknown: Bybit: live order book, just now; 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 Bybit live order book, just now	4.00 bp	22.8 bp −$23	60.5 bp −$605	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 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	−0.0032%	1h	0.02503	+0.036%	$5K	$111	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02497	−0.192%	$13K	$349K	5x	as long as short
Perpl MON	0.0000%	43m	0.02505	+0.116%	$122K	$2.2M	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02504	+0.092%	$73K	$138K	25x	as long as short
Lighter MON	+0.0096%	1h	0.02505	+0.116%	$803K	$785K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02503	+0.050%	$8K	$42	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02502	−0.023%	$99K	$213K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02499	−0.119%	$12K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02504	+0.088%	$139K	$91K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02503	+0.036%	$23.8M	$27.6M	75x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit MONUSDTlong	+0.0100%	8h	0.02502	long leg	$20.8M	$13.9M	50x
OKX MON-USDT-SWAP	+0.0100%	4h	0.02502	−0.004%	$4.2M	$6.2M	50x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02503	+0.036%	$938K	$1.1M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02505	+0.116%	$2.9M	$766K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02503	+0.036%	$2.7M	$2.3M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02505	+0.116%	$109K	$157K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02492	−0.401%	$740K	$410K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02493	−0.344%	$41K	$251K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02497	−0.204%	$556K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02497	−0.204%	$68K	$540K	50x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02508	+0.228%	$393K	$578K	10x	as long as short
Orderly PERP_MON_USDC	+0.0100%	4h	0.02504	+0.076%	$16K	$42K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02504	+0.076%	$5K	$6K	5x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02500	−0.097%	$103K	−$0	10x	as long as short
Extended MON-USD	+0.0104%	1h	0.02506	+0.162%	$47K	$314K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02503	+0.024%	$38K	—	3x	as long as short
Hyperliquid MON	+0.0157%	1h	0.02507	+0.200%	$33.9M	$7.8M	5x	as long as short
01 Exchange MONUSD	+0.0208%	1h	0.02505	+0.124%	$6K	$3K	5x	as long as short
GMX MON/USD [ETH-USDC]short	L +0.0231% / S −0.0246%	1h	0.02503	+0.032%	$6K	—	50x
BloFin MON-USDT	+0.0340%	4h	0.02506	+0.156%	$1.3M	$334K	75x	as long as short
Aftermath Perps MONUSD	+0.0604%	1h	0.02501	−0.052%	$4K	$102K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0680%	1h	0.02515	+0.508%	$111K	$54K	50x	as long as short
Kraken Futures PF_MONUSD	+0.1203%	1h	0.02506	+0.151%	$269K	$118K	10x	as long as short