Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.019%

Price spread now: OKX against Deribit+0.016%7-day average −0.086% · you sell dearer than you buy

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$750.746% of the position

Long on Deribit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.057%−$6 on $10k

Price spread, last 3 days (all we have)−0.190%−$19 · spread now +0.016%, 7d avg −0.086%

Together, before fees−0.248%−$25 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 OKX is 0.102% dearer against Deribit than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.086%. Mind the row above: over the last 7 days funding on this pair cost −0.057%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MON_USDC-PERPETUAL	0.02533	0	get 0.0000% / 1h	52m 57s	$68K	$125K	25x
Short	OKX MON-USDT-SWAP	0.02533	0.0100	get 0.0050% / 4h	1h 52m	$4.2M	$5.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.016%Rate

Funding earned: $21
Price spread: +0.016% → −0.086%: $10.22
Slippage, 4 orders: −$57.6
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$43.38
Costs to cover: 0.746%
Break-even: 21.5 days

Slippage from Deribit: live order book, 51 min ago; OKX: live order book, 5 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, 51 min ago	12.62 bp	20.6 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	1.98 bp	22.3 bp −$22	69.8 bp −$698	doesn't fit	doesn't fit

MON on 32 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
Phoenix MON	−0.0316%	1h	0.02527	−0.205%	$13K	$367K	5x	as long as short
Injective MON/USDC PERP	−0.0253%	1h	0.02531	−0.063%	$5K	$106	5.5x	as long as short
Bybit MONUSDT	−0.0057%	8h	0.02533	−0.004%	$20.8M	$12.8M	50x	as long as short
Backpack MON_USDC_PERP	−0.0049%	1h	0.02534	+0.055%	$118K	$148K	10x	as long as short
Deribit MON_USDC-PERPETUALlong	0.0000%	1h	0.02533	long leg	$68K	$125K	25x
01 Exchange MONUSD	+0.0032%	1h	0.02527	−0.233%	$6K	$1K	5x	as long as short
Orderly PERP_MON_USDC	+0.0077%	4h	0.02531	−0.063%	$16K	$51K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02533	+0.016%	$844K	$738K	10x	as long as short
Paradex MON-USD-PERP	+0.0099%	8h	0.02525	−0.284%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02529	−0.138%	$405K	$539K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid MON	+0.0100%	1h	0.02537	+0.162%	$34.4M	$7.4M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02529	−0.133%	$101K	$229K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02530	−0.111%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02530	−0.118%	$140K	$93K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02534	+0.051%	$24.1M	$25.9M	75x	as long as short
OKX MON-USDT-SWAPshort	+0.0100%	4h	0.02533	+0.016%	$4.2M	$5.8M	50x
Bulk MON-USD	+0.0100%	1h	0.02530	−0.103%	$105K	$4K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02530	−0.103%	$951K	$912K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02531	−0.063%	$2.9M	$742K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02536	+0.134%	$2.7M	$2.0M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02538	+0.216%	$750K	$404K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02526	−0.279%	$43K	$247K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02527	−0.231%	$565K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02524	−0.340%	$68K	$498K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02531	−0.063%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02537	+0.162%	$48K	$518K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02532	−0.043%	$38K	—	3x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02531	−0.047%	$9K	—	50x	as long as short
Aftermath Perps MONUSD	+0.0317%	1h	0.02532	−0.024%	$2K	$74K	10x	as long as short
Perpl MON	+0.0447%	43m	0.02530	−0.111%	$105K	$2.3M	10x	as long as short
Kraken Futures PF_MONUSD	+0.0491%	1h	0.02533	+0.003%	$267K	$97K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0536%	1h	0.02535	+0.079%	$111K	$51K	50x	as long as short