Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0700%/8h= −76.6% APRpaid last 24h −0.220%

Price spread now: Orderly against Coinbase International−0.819%7-day average — · you buy dearer than you sell

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

Long on Coinbase International Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−1.000%−$100 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$21 a day on $10k at the current rate, and Orderly is 0.819% cheaper against Coinbase International than usual: you would sell low and buy high (−$82 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MON-PERP-INTX	0.02575	0.0800	pay 0.0100% / 1h	55m 46s	$114K	$53K	50x
Short	Orderly PERP_MON_USDC	0.02554	0.0100	get 0.0050% / 4h	2h 55m	$16K	$36K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.819%Rate

Funding earned: −$147
Price spread: −0.819% → 0.000%: −$81.94
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$244.94
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 37 min ago; Orderly: 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 Coinbase International live order book, 37 min ago	22.39 bp	149.2 bp −$149	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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
Backpack MON_USDC_PERP	−0.0051%	1h	0.02553	−0.874%	$113K	$152K	10x	as long as short
Phoenix MON	0.0000%	1h	0.02557	−0.722%	$14K	$307K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02553	−0.866%	$73K	$133K	25x	as long as short
Injective MON/USDC PERP	+0.0033%	1h	0.02505	−2.722%	$5K	$104	5.5x	as long as short
Lighter MON	+0.0096%	1h	0.02551	−0.936%	$832K	$759K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02547	−1.090%	$8K	$42	5x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02551	−0.936%	$34.3M	$6.6M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02550	−0.973%	$101K	$202K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02549	−1.023%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02549	−1.002%	$141K	$89K	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	0.02545	−1.164%	$24.5M	$26.8M	75x	as long as short
Bybit MONUSDT	+0.0100%	8h	0.02544	−1.188%	$21.3M	$13.5M	50x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02547	−1.091%	$4.3M	$6.1M	50x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02554	−0.819%	$1.1M	$1.1M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02552	−0.897%	$2.9M	$763K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02547	−1.091%	$2.8M	$2.3M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02549	−1.033%	$757K	$375K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02555	−0.768%	$42K	$250K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02557	−0.688%	$580K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02557	−0.703%	$69K	$545K	50x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02553	−0.851%	$392K	$578K	10x	as long as short
Orderly PERP_MON_USDCshort	+0.0100%	4h	0.02554	−0.819%	$16K	$36K	10x
SoDEX MON-USD	+0.0100%	1h	0.02552	−0.897%	$5K	$6K	5x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02555	−0.780%	$105K	−$0	10x	as long as short
Extended MON-USD	+0.0104%	1h	0.02553	−0.840%	$61K	$329K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02550	−0.955%	$39K	—	3x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0231% / S −0.0246%	1h	0.02553	−0.847%	$7K	—	50x	as long as short
01 Exchange MONUSD	+0.0232%	1h	0.02553	−0.839%	$6K	$3K	5x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02562	−0.509%	$1.4M	$401K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02554	−0.819%	$118K	$2.1M	10x	as long as short
Aftermath Perps MONUSD	+0.0647%	1h	0.02557	−0.711%	$4K	$97K	10x	as long as short
Kraken Futures PF_MONUSD	+0.0669%	1h	0.02554	−0.805%	$274K	$117K	10x	as long as short
Coinbase International MON-PERP-INTXlong	+0.0800%	1h	0.02575	long leg	$114K	$53K	50x