Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0268%/8h= −29.3% APRpaid last 24h −0.212%

Price spread now: Gate against Coinbase International−1.383%7-day average −0.521% · you buy dearer than you sell

Net, funding: paid 7d − costs−$190as in the Funding arb table

Net, price: spread back to 7d avg − costs−$181as in the Price arb table

costs, in and out, $10k−$950.950% of the position

Long on Coinbase International Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.953%−$95 on $10k

Price spread, last 4 days (all we have)+1.056%+$106 · spread now −1.383%, 7d avg −0.521%

Together, before fees+0.104%+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Gate is 0.863% cheaper against Coinbase International than usual: you would sell low and buy high (−$86 if the spread goes back to its 7-day average of −0.521%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MON-PERP-INTX	0.02530	0.0368	pay 0.0046% / 1h	1m 01s	$110K	$56K	50x
Short	Gate MON_USDT	0.02495	0.0100	get 0.0050% / 4h	3h 01m	$932K	$993K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −1.383%Rate

Funding earned: −$56.28
Price spread: −1.383% → −0.521%: −$86.26
Slippage, 4 orders: −$70.05
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$237.58
Costs to cover: 0.950%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 52 min ago; Gate: live order book, 51 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, 52 min ago	17.19 bp	23.0 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 51 min ago	3.95 bp	20.9 bp −$21	357.0 bp −$3,570	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
Injective MON/USDC PERP	−0.0203%	1h	0.02515	−0.593%	$5K	$114	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02498	−1.277%	$12K	$358K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02495	−1.368%	$73K	$136K	25x	as long as short
Backpack MON_USDC_PERP	+0.0007%	1h	0.02497	−1.316%	$110K	$153K	10x	as long as short
Bybit MONUSDT	+0.0010%	8h	0.02492	−1.502%	$20.5M	$13.5M	50x	as long as short
Orderly PERP_MON_USDC	+0.0079%	4h	0.02495	−1.383%	$16K	$48K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02496	−1.344%	$837K	$733K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02493	−1.455%	$7K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02495	−1.383%	$403K	$586K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02496	−1.356%	$33.6M	$7.5M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster MONUSDT	+0.0100%	4h	0.02495	−1.373%	$100K	$218K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02495	−1.372%	$12K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02495	−1.391%	$138K	$92K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02494	−1.423%	$23.7M	$27.0M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02494	−1.423%	$4.2M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02500	−1.186%	$103K	$1K	10x	as long as short
Gate MON_USDTshort	+0.0100%	4h	0.02495	−1.383%	$932K	$993K	50x
KuCoin MONUSDTM	+0.0100%	4h	0.02500	−1.186%	$2.9M	$762K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02497	−1.304%	$2.7M	$2.2M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02492	−1.519%	$739K	$403K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02496	−1.341%	$41K	$251K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02502	−1.106%	$563K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02495	−1.383%	$68K	$522K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02494	−1.423%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02495	−1.366%	$49K	$282K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02494	−1.415%	$38K	—	3x	as long as short
01 Exchange MONUSD	+0.0192%	1h	0.02496	−1.364%	$6K	$1K	5x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0259% / S −0.0429%	1h	0.02494	−1.407%	$9K	—	50x	as long as short
Aftermath Perps MONUSD	+0.0268%	1h	0.02500	−1.173%	$2K	$78K	10x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02494	−1.423%	$1.3M	$337K	75x	as long as short
Coinbase International MON-PERP-INTXlong	+0.0368%	1h	0.02530	long leg	$110K	$56K	50x
Perpl MON	+0.0447%	43m	0.02496	−1.332%	$114K	$2.2M	10x	as long as short
Kraken Futures PF_MONUSD	+0.0730%	1h	0.02497	−1.315%	$268K	$113K	10x	as long as short