Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0297%/8h= −32.6% APRpaid last 24h −0.201%

Price spread now: Perpl against Coinbase International−0.571%7-day average −0.501% · you buy dearer than you sell

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

Long on Coinbase International Short on Perpl

What this pair did over the last

the charts below follow

Funding, last 7 days−0.756%−$76 on $10k

Price spread, last 4 days (all we have)−0.157%−$16 · spread now −0.571%, 7d avg −0.501%

Together, before fees−0.913%+ Points / potential airdropPerpl: Active · farm board−$91 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Perpl is 0.070% cheaper against Coinbase International than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.501%). 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	0.0744	pay 0.0093% / 1h	1m 40s	$114K	$53K	50x
Short	Perpl MON	0.02560	0.0447	get 0.0040% / 43m	16m 40s	$119K	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Perpl against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 PerplbpOrdersPrice spread, now −0.571%Rate

Funding earned: −$62.47
Price spread: −0.571% → −0.501%: −$6.97
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Net: −$93.25
Costs to cover: 0.238%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 31 min ago; Perpl: 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, 31 min ago	22.39 bp	149.2 bp −$149	doesn't fit	doesn't fit	doesn't fit
Sell Perpl no order-book sample	—	—	—	—	—

Perpl: 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	−0.0147%	1h	0.02556	−0.730%	$114K	$152K	10x	as long as short
Injective MON/USDC PERP	−0.0089%	1h	0.02505	−2.722%	$5K	$108	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02553	−0.850%	$14K	$346K	5x	as long as short
Lighter MON	+0.0096%	1h	0.02557	−0.703%	$833K	$781K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02556	−0.751%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02561	−0.531%	$394K	$576K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02559	−0.645%	$34.5M	$6.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02557	−0.718%	$101K	$202K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02557	−0.691%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02557	−0.711%	$142K	$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	0.02556	−0.733%	$24.6M	$26.9M	75x	as long as short
Bybit MONUSDT	+0.0100%	8h	0.02554	−0.819%	$21.3M	$13.4M	50x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02556	−0.742%	$4.3M	$6.1M	50x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02556	−0.742%	$1.0M	$1.1M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02556	−0.742%	$2.9M	$756K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02556	−0.742%	$2.8M	$2.2M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02559	−0.622%	$760K	$376K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02562	−0.510%	$42K	$251K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02559	−0.625%	$580K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02560	−0.586%	$69K	$545K	50x	as long as short
Orderly PERP_MON_USDC	+0.0100%	4h	0.02557	−0.703%	$16K	$36K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02556	−0.742%	$5K	$6K	5x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02542	−1.294%	$104K	−$0	10x	as long as short
Extended MON-USD	+0.0104%	1h	0.02560	−0.595%	$61K	$329K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02557	−0.722%	$39K	—	3x	as long as short
01 Exchange MONUSD	+0.0176%	1h	0.02558	−0.668%	$6K	$3K	5x	as long as short
Deribit MON_USDC-PERPETUAL	+0.0219%	1h	0.02558	−0.656%	$73K	$135K	25x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0231% / S −0.0246%	1h	0.02554	−0.808%	$7K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02561	−0.548%	$1.4M	$404K	75x	as long as short
Perpl MONshort	+0.0447%	43m	0.02560	−0.571%	$119K	$2.1M	10x
Aftermath Perps MONUSD	+0.0603%	1h	0.02555	−0.765%	$4K	$97K	10x	as long as short
Coinbase International MON-PERP-INTXlong	+0.0744%	1h	0.02575	long leg	$114K	$53K	50x
Kraken Futures PF_MONUSD	+0.0782%	1h	0.02558	−0.647%	$275K	$118K	10x	as long as short