Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0017%/8h= −1.8% APRpaid last 24h −0.007%

Price spread now: Orderly against dYdX+0.053%7-day average — · you sell dearer than you buy

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

Long on dYdX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Orderly is 0.053% dearer against dYdX than usual: you sell high and buy low (spread +0.053% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX MON-USD	0.02474	0.0100	pay 0.0013% / 1h	30m 44s	$12K	—	5x
Short	Orderly PERP_MON_USDC	0.02475	0.0083	get 0.0042% / 4h	2h 30m	$16K	$48K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against dYdX. 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 dYdXbpFee OrderlybpOrdersPrice spread, now +0.053%Rate

Funding earned: −$3.48
Price spread: +0.053% → 0.000%: $5.26
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$14.23
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: dYdX: no order-book sample; Orderly: 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 dYdX no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

dYdX and Orderly: 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
Backpack MON_USDC_PERP	−0.0120%	1h	0.02477	+0.117%	$115K	$156K	10x	as long as short
Bybit MONUSDT	−0.0009%	8h	0.02475	+0.053%	$20.3M	$13.6M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02478	+0.170%	$12K	$355K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02476	+0.081%	$73K	$136K	25x	as long as short
01 Exchange MONUSD	+0.0032%	1h	0.02477	+0.154%	$6K	$1K	5x	as long as short
Injective MON/USDC PERP	+0.0039%	1h	0.02489	+0.619%	$5K	$113	5.5x	as long as short
Orderly PERP_MON_USDCshort	+0.0083%	4h	0.02475	+0.053%	$16K	$48K	10x
Lighter MON	+0.0096%	1h	0.02477	+0.133%	$816K	$755K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02475	+0.066%	$7K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02477	+0.137%	$409K	$569K	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	0.02478	+0.158%	$33.2M	$7.6M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02476	+0.077%	$99K	$221K	10x	as long as short
dYdX MON-USDlong	+0.0100%	1h	0.02474	long leg	$12K	—	5x
Pacifica MON	+0.0100%	1h	0.02477	+0.133%	$137K	$92K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02476	+0.093%	$23.5M	$27.4M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02476	+0.093%	$4.1M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02475	+0.053%	$102K	$1K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02476	+0.093%	$926K	$1.0M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02480	+0.255%	$2.8M	$764K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02478	+0.174%	$2.7M	$2.2M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02473	−0.044%	$732K	$407K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02473	−0.028%	$41K	$251K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02477	+0.120%	$557K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02477	+0.133%	$67K	$527K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02475	+0.053%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02476	+0.106%	$47K	$288K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02474	+0.012%	$37K	—	3x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0230% / S −0.0246%	1h	0.02476	+0.077%	$6K	—	50x	as long as short
Aftermath Perps MONUSD	+0.0230%	1h	0.02482	+0.335%	$5K	$81K	10x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02472	−0.069%	$1.3M	$346K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02477	+0.150%	$113K	$2.2M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0456%	1h	0.02530	+2.276%	$110K	$54K	50x	as long as short
Kraken Futures PF_MONUSD	+0.1027%	1h	0.02479	+0.214%	$266K	$119K	10x	as long as short