Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0580%/8h= −63.5% APRpaid last 24h −0.211%

Price spread now: OKX against Coinbase International−0.390%7-day average −0.586% · you buy dearer than you sell

Net, funding: paid 7d − costs−$313as in the Funding arb table

Net, price: spread back to 7d avg − costs−$197as in the Price arb table

costs, in and out, $10k−$2172.168% of the position

Long on Coinbase International Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.964%−$96 on $10k

Price spread, last 4 days (all we have)−0.143%−$14 · spread now −0.390%, 7d avg −0.586%

Together, before fees−1.107%−$111 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.197% dearer against Coinbase International than usual: you sell high and buy low (spread −0.390% now, against its 7-day average of −0.586%): +$20 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 27 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MON-PERP-INTX	0.02515	0.0680	pay 0.0085% / 1h	15m 52s	$111K	$54K	50x
Short	OKX MON-USDT-SWAP	0.02505	0.0100	get 0.0050% / 4h	15m 52s	$4.2M	$6.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.390%Rate

Funding earned: −$121.8
Price spread: −0.390% → −0.586%: $19.66
Slippage, 4 orders: −$196.84
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$318.98
Costs to cover: 2.168%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 22 min ago; OKX: live order book, 2 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, 22 min ago	20.59 bp	138.4 bp −$138	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	3.99 bp	19.8 bp −$20	89.1 bp −$891	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	−0.0032%	1h	0.02503	−0.469%	$5K	$111	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02497	−0.696%	$13K	$349K	5x	as long as short
Perpl MON	0.0000%	43m	0.02508	−0.254%	$123K	$2.2M	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02505	−0.394%	$73K	$138K	25x	as long as short
Lighter MON	+0.0096%	1h	0.02506	−0.350%	$804K	$785K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02507	−0.319%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02511	−0.159%	$394K	$578K	10x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02505	−0.404%	$99K	$213K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02502	−0.509%	$12K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02506	−0.334%	$139K	$91K	3x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance MONUSDT	+0.0100%	4h	0.02504	−0.429%	$23.8M	$27.5M	75x	as long as short
Bybit MONUSDT	+0.0100%	8h	0.02504	−0.449%	$20.9M	$13.9M	50x	as long as short
OKX MON-USDT-SWAPshort	+0.0100%	4h	0.02505	−0.390%	$4.2M	$6.2M	50x
Gate MON_USDT	+0.0100%	4h	0.02507	−0.310%	$939K	$1.1M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02507	−0.310%	$2.9M	$766K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02506	−0.350%	$2.7M	$2.3M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02505	−0.374%	$109K	$157K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02503	−0.485%	$743K	$410K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02502	−0.505%	$41K	$251K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02506	−0.369%	$558K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02504	−0.429%	$68K	$541K	50x	as long as short
Orderly PERP_MON_USDC	+0.0100%	4h	0.02505	−0.390%	$16K	$42K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02504	−0.429%	$5K	$6K	5x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02500	−0.602%	$103K	−$0	10x	as long as short
Extended MON-USD	+0.0104%	1h	0.02508	−0.288%	$47K	$316K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02504	−0.445%	$38K	—	3x	as long as short
Hyperliquid MON	+0.0156%	1h	0.02509	−0.243%	$33.9M	$7.8M	5x	as long as short
01 Exchange MONUSD	+0.0208%	1h	0.02508	−0.274%	$6K	$3K	5x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0231% / S −0.0246%	1h	0.02504	−0.414%	$6K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02506	−0.350%	$1.3M	$334K	75x	as long as short
Aftermath Perps MONUSD	+0.0607%	1h	0.02503	−0.484%	$4K	$102K	10x	as long as short
Coinbase International MON-PERP-INTXlong	+0.0680%	1h	0.02515	long leg	$111K	$54K	50x
Kraken Futures PF_MONUSD	+0.1202%	1h	0.02507	−0.308%	$269K	$118K	10x	as long as short