Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0708%/8h= +77.5% APRpaid last 24h +0.222%

Price spread now: Coinbase International against edgeX−0.031%77s7-day average +0.550% · you buy dearer than you sell

Net, funding: paid 7d − costs−$198as 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−$2912.909% of the position

Long on edgeX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.933%+$93 on $10k

Price spread, last 3 days (all we have)+0.697%+$70 · spread now −0.031%, 7d avg +0.550%

Together, before fees+1.630%+ Points / potential airdropedgeX: Active · farm board+$163 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.581% cheaper against edgeX than usual: you would sell low and buy high (spread −0.031% now, against its 7-day average of +0.550%). If the spread goes back, that is −$58 on $10k: about 2.7 days of funding at the current rate (+$21 a day). The two prices were read 77 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	edgeX MONUSDC	0.02578	0.0100	pay 0.0050% / 4h	3h 32m	$44K	$248K	10x
Short	Coinbase International MON-PERP-INTX	0.02577	0.0808	get 0.0101% / 1h	32m 23s	$113K	$51K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against edgeX. 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 edgeXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.031%Rate

Funding earned: $148.68
Price spread: −0.031% → +0.550%: −$58.1
Slippage, 4 orders: −$271.93
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$200.35
Costs to cover: 2.909%
Break-even: 16.4 days

Slippage from edgeX: live order book, 40 min ago; Coinbase International: live order book, 40 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 edgeX live order book, 40 min ago	7.82 bp	19.5 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 40 min ago	36.15 bp	123.4 bp −$123	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
Injective MON/USDC PERP	−0.0444%	1h	0.02576	−0.070%	$6K	$107	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02576	−0.055%	$13K	$351K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02573	−0.190%	$69K	$119K	25x	as long as short
Orderly PERP_MON_USDC	+0.0068%	4h	0.02572	−0.225%	$17K	$64K	10x	as long as short
01 Exchange MONUSD	+0.0088%	1h	0.02571	−0.252%	$6K	$1K	5x	as long as short
Lighter MON	+0.0096%	1h	0.02576	−0.070%	$858K	$754K	10x	as long as short
Paradex MON-USD-PERP	+0.0098%	8h	0.02571	−0.254%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02574	−0.144%	$393K	$536K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02575	−0.109%	$35.0M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02574	−0.150%	$107K	$231K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX MON-USD	+0.0100%	1h	0.02575	−0.105%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02575	−0.109%	$142K	$104K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02572	−0.225%	$24.6M	$25.7M	75x	as long as short
Bybit MONUSDT	+0.0100%	8h	0.02571	−0.264%	$21.3M	$12.2M	50x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02571	−0.264%	$4.3M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02575	−0.109%	$106K	$2K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02572	−0.225%	$980K	$904K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02574	−0.148%	$2.7M	$1.9M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02574	−0.136%	$128K	$141K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02581	+0.128%	$780K	$407K	—	as long as short
edgeX MONUSDClong	+0.0100%	4h	0.02578	long leg	$44K	$248K	10x
GRVT MON_USDT_Perp	+0.0100%	4h	0.02581	+0.141%	$585K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02577	−0.031%	$69K	$484K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02572	−0.225%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02576	−0.071%	$49K	$517K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02573	−0.190%	$39K	—	3x	as long as short
Aftermath Perps MONUSD	+0.0135%	1h	0.02576	−0.059%	$4K	$76K	10x	as long as short
KuCoin MONUSDTM	+0.0142%	4h	0.02576	−0.070%	$3.0M	$725K	75x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02572	−0.210%	$8K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02578	+0.008%	$1.4M	$308K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02571	−0.268%	$174K	$2.0M	10x	as long as short
Kraken Futures PF_MONUSD	+0.0464%	1h	0.02576	−0.080%	$270K	$78K	10x	as long as short
Coinbase International MON-PERP-INTXshort	+0.0808%	1h	0.02577	−0.031%	$113K	$51K	50x