Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0088%/8h= +9.6% APRpaid last 24h −0.025%

Price spread now: Paradex against Deribit−0.151%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.151% cheaper against Deribit than usual: you would sell low and buy high (spread −0.151% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$15 on $10k: about 5.7 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MON_USDC-PERPETUAL	0.02560	0	get 0.0000% / 1h	5m 26s	$69K	$119K	25x
Short	Paradex MON-USD-PERP	0.02556	0.0088	get 0.0088% / 8h	1h 05m	$8K	$42	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.151%Rate

Funding earned: $18.5
Price spread: −0.151% → 0.000%: −$15.06
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$7.56
Costs to cover: 0.110%
Break-even: 9.9 days

Slippage unknown: Deribit: live order book, 53 min ago; Paradex: 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 Deribit live order book, 53 min ago	6.39 bp	9.9 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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
Bybit MONUSDT	−0.0071%	8h	0.02556	−0.145%	$21.1M	$11.9M	50x	as long as short
Injective MON/USDC PERP	−0.0053%	1h	0.02575	+0.594%	$6K	$109	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02565	+0.191%	$13K	$362K	5x	as long as short
Perpl MON	0.0000%	43m	0.02560	0.000%	$129K	$1.8M	10x	as long as short
Deribit MON_USDC-PERPETUALlong	0.0000%	1h	0.02560	long leg	$69K	$119K	25x
Aftermath Perps MONUSD	+0.0027%	1h	0.02564	+0.168%	$2K	$74K	10x	as long as short
01 Exchange MONUSD	+0.0040%	1h	0.02560	−0.008%	$6K	$1K	5x	as long as short
Orderly PERP_MON_USDC	+0.0066%	4h	0.02558	−0.070%	$17K	$64K	10x	as long as short
Paradex MON-USD-PERPshort	+0.0088%	8h	0.02556	−0.151%	$8K	$42	5x
Lighter MON	+0.0096%	1h	0.02558	−0.070%	$854K	$784K	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	0.02561	+0.039%	$34.6M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02559	−0.015%	$108K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02560	−0.005%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02557	−0.109%	$141K	$104K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02558	−0.056%	$24.4M	$24.9M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02556	−0.148%	$4.3M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02569	+0.342%	$108K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02557	−0.109%	$989K	$879K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02560	+0.008%	$2.7M	$1.8M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02558	−0.059%	$127K	$142K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02564	+0.151%	$777K	$407K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02550	−0.371%	$47K	$243K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02570	+0.387%	$576K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02553	−0.266%	$68K	$482K	50x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02561	+0.037%	$389K	$543K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02559	−0.031%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02559	−0.041%	$51K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02558	−0.074%	$39K	—	3x	as long as short
Kraken Futures PF_MONUSD	+0.0175%	1h	0.02562	+0.095%	$269K	$78K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0598%	1h	0.02560	−0.008%	$8K	—	50x	as long as short
KuCoin MONUSDTM	+0.0276%	4h	0.02561	+0.047%	$3.0M	$701K	75x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02541	−0.734%	$1.3M	$303K	75x	as long as short
Coinbase International MON-PERP-INTX	+0.0536%	1h	0.02561	+0.039%	$113K	$50K	50x	as long as short