Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.014%

Price spread now: edgeX against Deribit+0.442%75s7-day average −0.072% · you sell dearer than you buy

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$640.639% of the position

Long on Deribit Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.018%−$2 on $10k

Price spread, last 4 days (all we have)−1.018%−$102 · spread now +0.442%, 7d avg −0.072%

Together, before fees−1.036%+ Points / potential airdropedgeX: Active · farm board−$104 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and edgeX is 0.514% dearer against Deribit than usual: you sell high and buy low: +$51 more if the spread goes back to its 7-day average of −0.072%. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MON_USDC-PERPETUAL	0.02499	0	get 0.0000% / 1h	32m 09s	$73K	$137K	25x
Short	edgeX MONUSDC	0.02510	0.0100	get 0.0050% / 4h	3h 32m	$41K	$251K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.442%Rate

Funding earned: $21
Price spread: +0.442% → −0.072%: $51.43
Slippage, 4 orders: −$47.87
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $8.56
Costs to cover: 0.639%
Break-even: 4.1 days

Slippage from Deribit: live order book, 42 min ago; edgeX: live order book, 65 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, 42 min ago	8.17 bp	14.1 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 65 min ago	8.00 bp	18.9 bp −$19	doesn't fit	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	−0.0140%	1h	0.02504	+0.184%	$111K	$157K	10x	as long as short
Injective MON/USDC PERP	−0.0089%	1h	0.02505	+0.224%	$5K	$108	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02518	+0.736%	$13K	$346K	5x	as long as short
Deribit MON_USDC-PERPETUALlong	0.0000%	1h	0.02499	long leg	$73K	$137K	25x
Lighter MON	+0.0096%	1h	0.02500	+0.024%	$803K	$766K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02502	+0.085%	$8K	$42	5x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02502	+0.088%	$33.8M	$7.8M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02500	+0.007%	$99K	$213K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02502	+0.116%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02504	+0.184%	$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	0.02499	−0.016%	$23.8M	$27.7M	75x	as long as short
Bybit MONUSDT	+0.0100%	8h	0.02496	−0.128%	$20.9M	$13.9M	50x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02498	−0.056%	$4.2M	$6.2M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02520	+0.808%	$103K	−$0	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02498	−0.056%	$938K	$1.0M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02499	−0.016%	$2.9M	$771K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02499	−0.016%	$2.7M	$2.3M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02510	+0.408%	$747K	$392K	—	as long as short
edgeX MONUSDCshort	+0.0100%	4h	0.02510	+0.442%	$41K	$251K	10x
GRVT MON_USDT_Perp	+0.0100%	4h	0.02513	+0.544%	$559K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02518	+0.744%	$68K	$544K	50x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02506	+0.257%	$389K	$575K	10x	as long as short
Orderly PERP_MON_USDC	+0.0100%	4h	0.02500	+0.024%	$16K	$40K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02499	−0.016%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02501	+0.071%	$57K	$332K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02497	−0.116%	$38K	—	3x	as long as short
01 Exchange MONUSD	+0.0112%	1h	0.02503	+0.152%	$6K	$3K	5x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0231% / S −0.0246%	1h	0.02498	−0.040%	$6K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02501	+0.064%	$1.3M	$369K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02503	+0.140%	$118K	$2.2M	10x	as long as short
Aftermath Perps MONUSD	+0.0485%	1h	0.02511	+0.454%	$5K	$103K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0744%	1h	0.02525	+1.024%	$111K	$53K	50x	as long as short
Kraken Futures PF_MONUSD	+0.0801%	1h	0.02500	+0.035%	$269K	$118K	10x	as long as short