Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.014%

Price spread now: Deribit against edgeX−0.159%75s7-day average +0.072% · you buy dearer than you sell

Net, funding: paid 7d − costs−$62as 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−$640.639% of the position

Long on edgeX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.018%+$2 on $10k

Price spread, last 4 days (all we have)+0.735%+$73 · spread now −0.159%, 7d avg +0.072%

Together, before fees+0.753%+ Points / potential airdropedgeX: Active · farm board+$75 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.231% cheaper against edgeX than usual: you would sell low and buy high (−$23 if the spread goes back to its 7-day average of +0.072%). Swap the legs. The two prices were read 75 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	0.02516	0.0100	pay 0.0050% / 4h	3h 35m	$41K	$250K	10x
Short	Deribit MON_USDC-PERPETUAL	0.02512	0	get 0.0000% / 1h	35m 56s	$73K	$137K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.159%Rate

Funding earned: −$21
Price spread: −0.159% → +0.072%: −$23.11
Slippage, 4 orders: −$47.87
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$107.98
Costs to cover: 0.639%
Break-even: never at this rate

Slippage from edgeX: live order book, 61 min ago; Deribit: live order book, 38 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, 61 min ago	8.00 bp	19.2 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 38 min ago	8.17 bp	11.7 bp −$12	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
Backpack MON_USDC_PERP	−0.0109%	1h	0.02513	−0.108%	$110K	$156K	10x	as long as short
Injective MON/USDC PERP	−0.0089%	1h	0.02505	−0.438%	$5K	$108	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02518	+0.071%	$13K	$346K	5x	as long as short
Deribit MON_USDC-PERPETUALshort	0.0000%	1h	0.02512	−0.159%	$73K	$137K	25x
Lighter MON	+0.0096%	1h	0.02513	−0.120%	$807K	$765K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02510	−0.221%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02515	−0.040%	$391K	$572K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02515	−0.060%	$34.0M	$7.8M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02514	−0.069%	$99K	$213K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02513	−0.116%	$13K	—	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica MON	+0.0100%	1h	0.02514	−0.064%	$139K	$91K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02512	−0.159%	$23.9M	$27.5M	75x	as long as short
Bybit MONUSDT	+0.0100%	8h	0.02510	−0.251%	$21.0M	$13.9M	50x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02511	−0.199%	$4.2M	$6.2M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02520	+0.143%	$103K	−$0	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02514	−0.080%	$944K	$1.0M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02517	+0.039%	$2.9M	$768K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02514	−0.080%	$2.7M	$2.3M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02514	−0.096%	$746K	$392K	—	as long as short
edgeX MONUSDClong	+0.0100%	4h	0.02516	long leg	$41K	$250K	10x
GRVT MON_USDT_Perp	+0.0100%	4h	0.02518	+0.079%	$561K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02517	+0.039%	$68K	$544K	50x	as long as short
Orderly PERP_MON_USDC	+0.0100%	4h	0.02512	−0.159%	$16K	$40K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02511	−0.199%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02514	−0.083%	$60K	$328K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02511	−0.199%	$38K	—	3x	as long as short
01 Exchange MONUSD	+0.0136%	1h	0.02513	−0.120%	$6K	$3K	5x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0231% / S −0.0246%	1h	0.02511	−0.195%	$6K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02516	0.000%	$1.3M	$371K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02514	−0.088%	$119K	$2.2M	10x	as long as short
Aftermath Perps MONUSD	+0.0477%	1h	0.02516	+0.005%	$5K	$103K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0744%	1h	0.02525	+0.357%	$111K	$54K	50x	as long as short
Kraken Futures PF_MONUSD	+0.0796%	1h	0.02515	−0.052%	$270K	$118K	10x	as long as short