Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0122%/8h= +13.3% APRpaid last 24h −0.026%

Price spread now: Gate against Deribit−0.004%7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$700.704% of the position

Long on Deribit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.047%−$5 on $10k

Price spread, last 3 days (all we have)−0.246%−$25 · spread now −0.004%, 7d avg −0.039%

Together, before fees−0.294%−$29 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Gate is 0.035% dearer against Deribit than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MON_USDC-PERPETUAL	0.02576	−0.0022	get 0.0003% / 1h	27m 52s	$70K	$119K	25x
Short	Gate MON_USDT	0.02576	0.0100	get 0.0050% / 4h	1h 27m	$1.0M	$866K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.004%Rate

Funding earned: $25.55
Price spread: −0.004% → −0.039%: $3.49
Slippage, 4 orders: −$48.41
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$41.36
Costs to cover: 0.704%
Break-even: 18.3 days

Slippage from Deribit: live order book, 31 min ago; Gate: 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, 31 min ago	6.39 bp	9.9 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	7.77 bp	24.5 bp −$24	274.8 bp −$2,748	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	−0.0053%	1h	0.02582	+0.229%	$6K	$108	5.5x	as long as short
Bybit MONUSDT	−0.0051%	8h	0.02570	−0.217%	$21.4M	$11.7M	50x	as long as short
01 Exchange MONUSD	−0.0048%	1h	0.02581	+0.182%	$6K	$1K	5x	as long as short
Deribit MON_USDC-PERPETUALlong	−0.0022%	1h	0.02576	long leg	$70K	$119K	25x
Phoenix MON	0.0000%	1h	0.02571	−0.194%	$13K	$362K	5x	as long as short
Perpl MON	0.0000%	43m	0.02576	−0.008%	$143K	$1.8M	10x	as long as short
Aftermath Perps MONUSD	+0.0024%	1h	0.02578	+0.085%	$2K	$73K	10x	as long as short
Orderly PERP_MON_USDC	+0.0067%	4h	0.02574	−0.082%	$17K	$64K	10x	as long as short
Paradex MON-USD-PERP	+0.0081%	8h	0.02578	+0.072%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02576	−0.004%	$853K	$773K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid MON	+0.0100%	1h	0.02578	+0.093%	$34.9M	$7.4M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02576	+0.011%	$108K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02579	+0.098%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02579	+0.109%	$142K	$107K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02574	−0.082%	$24.5M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02572	−0.159%	$4.4M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02570	−0.237%	$108K	$3K	10x	as long as short
Gate MON_USDTshort	+0.0100%	4h	0.02576	−0.004%	$1.0M	$866K	50x
Bitget MONUSDT	+0.0100%	4h	0.02574	−0.082%	$2.7M	$1.8M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02570	−0.249%	$779K	$407K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02580	+0.137%	$47K	$244K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02572	−0.159%	$577K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02578	+0.074%	$69K	$481K	50x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02583	+0.273%	$389K	$538K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02574	−0.082%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02578	+0.076%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02573	−0.113%	$39K	—	3x	as long as short
Backpack MON_USDC_PERP	+0.0163%	1h	0.02576	+0.008%	$138K	$134K	10x	as long as short
Kraken Futures PF_MONUSD	+0.0174%	1h	0.02576	+0.008%	$271K	$77K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02576	+0.004%	$9K	—	50x	as long as short
KuCoin MONUSDTM	+0.0316%	4h	0.02581	+0.190%	$3.2M	$724K	75x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02572	−0.159%	$1.4M	$292K	75x	as long as short
Coinbase International MON-PERP-INTX	+0.0536%	1h	0.02607	+1.188%	$114K	$49K	50x	as long as short