Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0071%/8h= +7.8% APRpaid last 24h −0.014%

Price spread now: Bitget against Deribit+0.052%7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$610.614% of the position

Long on Deribit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.026%−$3 on $10k

Price spread, last 4 days (all we have)−0.172%−$17 · spread now +0.052%, 7d avg +0.002%

Together, before fees−0.198%−$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Bitget is 0.049% dearer against Deribit than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MON_USDC-PERPETUAL	0.02512	0.0029	pay 0.0004% / 1h	53m 12s	$73K	$137K	25x
Short	Bitget MONUSDT	0.02513	0.0100	get 0.0050% / 4h	3h 53m	$2.7M	$2.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Deribit. 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 DeribitbpFee BitgetbpOrdersPrice spread, now +0.052%Rate

Funding earned: $14.96
Price spread: +0.052% → +0.002%: $4.93
Slippage, 4 orders: −$42.39
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$41.5
Costs to cover: 0.614%
Break-even: 26.4 days

Slippage from Deribit: live order book, 21 min ago; Bitget: live order book, 4 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 Deribit live order book, 21 min ago	8.17 bp	14.1 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	7.95 bp	21.7 bp −$22	59.7 bp −$597	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
Backpack MON_USDC_PERP	−0.0358%	1h	0.02505	−0.251%	$109K	$157K	10x	as long as short
Injective MON/USDC PERP	−0.0089%	1h	0.02505	−0.267%	$5K	$108	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02506	−0.219%	$13K	$346K	5x	as long as short
Deribit MON_USDC-PERPETUALlong	+0.0029%	1h	0.02512	long leg	$73K	$137K	25x
Lighter MON	+0.0096%	1h	0.02512	+0.012%	$807K	$765K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02508	−0.134%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02513	+0.071%	$394K	$573K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02513	+0.060%	$33.9M	$7.8M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02509	−0.109%	$99K	$213K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02507	−0.184%	$13K	—	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica MON	+0.0100%	1h	0.02511	−0.032%	$139K	$91K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02510	−0.082%	$23.9M	$27.6M	75x	as long as short
Bybit MONUSDT	+0.0100%	8h	0.02508	−0.147%	$20.9M	$13.9M	50x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02509	−0.107%	$4.2M	$6.2M	50x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02509	−0.107%	$939K	$1.0M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02511	−0.028%	$2.9M	$766K	75x	as long as short
Bitget MONUSDTshort	+0.0100%	4h	0.02513	+0.052%	$2.7M	$2.3M	25x
Variational Omni MON	+0.0100%	8h	0.02508	−0.144%	$745K	$408K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02504	−0.318%	$41K	$250K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02509	−0.108%	$559K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02507	−0.187%	$68K	$543K	50x	as long as short
Orderly PERP_MON_USDC	+0.0100%	4h	0.02510	−0.068%	$16K	$42K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02511	−0.028%	$5K	$6K	5x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02505	−0.267%	$103K	−$0	10x	as long as short
Extended MON-USD	+0.0104%	1h	0.02513	+0.057%	$60K	$328K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02510	−0.048%	$38K	—	3x	as long as short
01 Exchange MONUSD	+0.0184%	1h	0.02511	−0.020%	$6K	$3K	5x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0231% / S −0.0246%	1h	0.02510	−0.056%	$6K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02510	−0.068%	$1.3M	$334K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02510	−0.052%	$119K	$2.2M	10x	as long as short
Aftermath Perps MONUSD	+0.0469%	1h	0.02509	−0.108%	$5K	$103K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0744%	1h	0.02519	+0.295%	$111K	$54K	50x	as long as short
Kraken Futures PF_MONUSD	+0.0796%	1h	0.02514	+0.088%	$270K	$118K	10x	as long as short