Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0380%/8h= −41.6% APRpaid last 24h −0.220%

Price spread now: Binance against Coinbase International−0.916%7-day average −0.489% · you buy dearer than you sell

Net, funding: paid 7d − costs−$173as in the Funding arb table

Net, price: spread back to 7d avg − costs−$123as in the Price arb table

costs, in and out, $10k−$800.805% of the position

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.925%−$93 on $10k

Price spread, last 3 days (all we have)+0.470%+$47 · spread now −0.916%, 7d avg −0.489%

Together, before fees−0.456%−$46 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Binance is 0.427% cheaper against Coinbase International than usual: you would sell low and buy high (−$43 if the spread goes back to its 7-day average of −0.489%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MON-PERP-INTX	0.02609	0.0480	pay 0.0060% / 1h	42m 36s	$115K	$50K	50x
Short	Binance MONUSDT	0.02585	0.0100	get 0.0050% / 4h	42m 36s	$24.6M	$25.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Coinbase International. 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 Coinbase InternationalbpFee BinancebpOrdersPrice spread, now −0.916%Rate

Funding earned: −$79.8
Price spread: −0.916% → −0.489%: −$42.75
Slippage, 4 orders: −$60.49
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$203.04
Costs to cover: 0.805%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 35 min ago; Binance: live order book, 14 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 Coinbase International live order book, 35 min ago	15.92 bp	26.0 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 14 min ago	3.87 bp	14.2 bp −$14	68.3 bp −$683	322.5 bp −$32.2K	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
Injective MON/USDC PERP	−0.0121%	1h	0.02575	−1.299%	$6K	$106	5.5x	as long as short
Bybit MONUSDT	−0.0049%	8h	0.02583	−0.993%	$21.4M	$12.0M	50x	as long as short
01 Exchange MONUSD	−0.0024%	1h	0.02583	−1.012%	$6K	$1K	5x	as long as short
Phoenix MON	0.0000%	1h	0.02599	−0.368%	$14K	$360K	5x	as long as short
Perpl MON	0.0000%	43m	0.02590	−0.728%	$127K	$1.8M	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02585	−0.928%	$70K	$119K	25x	as long as short
Aftermath Perps MONUSD	+0.0030%	1h	0.02592	−0.649%	$2K	$75K	10x	as long as short
Orderly PERP_MON_USDC	+0.0067%	4h	0.02584	−0.954%	$17K	$64K	10x	as long as short
Paradex MON-USD-PERP	+0.0093%	8h	0.02583	−0.980%	$8K	$42	5x	as long as short
Variational Omni MON	+0.0095%	8h	0.02591	−0.699%	$783K	$408K	—	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MON	+0.0096%	1h	0.02586	−0.878%	$859K	$793K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02593	−0.624%	$395K	$546K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02588	−0.797%	$35.0M	$7.6M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02588	−0.785%	$109K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02584	−0.949%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02585	−0.916%	$143K	$105K	3x	as long as short
Binance MONUSDTshort	+0.0100%	4h	0.02585	−0.916%	$24.6M	$25.2M	75x
OKX MON-USDT-SWAP	+0.0100%	4h	0.02582	−1.031%	$4.4M	$6.0M	50x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02586	−0.878%	$984K	$905K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02587	−0.839%	$2.8M	$1.8M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02585	−0.912%	$129K	$141K	10x	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02594	−0.572%	$48K	$245K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02597	−0.462%	$588K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02596	−0.494%	$69K	$481K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02583	−0.993%	$5K	$6K	5x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02588	−0.807%	$109K	$3K	10x	as long as short
Extended MON-USD	+0.0104%	1h	0.02590	−0.733%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02583	−0.981%	$39K	—	3x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02585	−0.897%	$9K	—	50x	as long as short
KuCoin MONUSDTM	+0.0262%	4h	0.02588	−0.801%	$3.0M	$716K	75x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02587	−0.839%	$1.4M	$310K	75x	as long as short
Kraken Futures PF_MONUSD	+0.0418%	1h	0.02587	−0.825%	$272K	$78K	10x	as long as short
Coinbase International MON-PERP-INTXlong	+0.0480%	1h	0.02609	long leg	$115K	$50K	50x