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: Deribit against Gate+0.043%7-day average +0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$780.779% of the position

Long on Gate Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.047%+$5 on $10k

Price spread, last 4 days (all we have)+0.542%+$54 · spread now +0.043%, 7d avg +0.040%

Together, before fees+0.589%+$59 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.040%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MON_USDT	0.02539	0.0100	pay 0.0050% / 4h	1h 31m	$956K	$926K	50x
Short	Deribit MON_USDC-PERPETUAL	0.02540	0	get 0.0000% / 1h	31m 03s	$69K	$125K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Gate. 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 GatebpFee DeribitbpOrdersPrice spread, now +0.043%Rate

Funding earned: −$21
Price spread: +0.043% → +0.040%: $0.37
Slippage, 4 orders: −$55.88
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$98.51
Costs to cover: 0.779%
Break-even: never at this rate

Slippage from Gate: live order book, 31 min ago; Deribit: live order book, 8 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 Gate live order book, 31 min ago	3.94 bp	21.1 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 8 min ago	11.47 bp	15.0 bp −$15	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
Phoenix MON	−0.0316%	1h	0.02535	−0.154%	$13K	$367K	5x	as long as short
Injective MON/USDC PERP	−0.0253%	1h	0.02535	−0.158%	$6K	$111	5.5x	as long as short
Backpack MON_USDC_PERP	−0.0242%	1h	0.02541	+0.087%	$114K	$151K	10x	as long as short
Bybit MONUSDT	−0.0145%	8h	0.02537	−0.079%	$20.8M	$12.9M	50x	as long as short
01 Exchange MONUSD	0.0000%	1h	0.02541	+0.071%	$6K	$1K	5x	as long as short
Perpl MON	0.0000%	43m	0.02541	+0.091%	$105K	$2.3M	10x	as long as short
Deribit MON_USDC-PERPETUALshort	0.0000%	1h	0.02540	+0.043%	$69K	$125K	25x
Orderly PERP_MON_USDC	+0.0084%	4h	0.02539	0.000%	$16K	$51K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02542	+0.118%	$847K	$738K	10x	as long as short
Paradex MON-USD-PERP	+0.0099%	8h	0.02538	−0.020%	$8K	$42	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado MON-PERP	+0.0100%	1h	0.02541	+0.092%	$409K	$541K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02542	+0.098%	$34.4M	$7.4M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02537	−0.082%	$101K	$229K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02536	−0.130%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02537	−0.063%	$140K	$93K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02539	+0.015%	$24.2M	$26.1M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02537	−0.079%	$4.2M	$5.9M	50x	as long as short
Gate MON_USDTlong	+0.0100%	4h	0.02539	long leg	$956K	$926K	50x
KuCoin MONUSDTM	+0.0100%	4h	0.02536	−0.118%	$2.9M	$742K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02539	0.000%	$2.7M	$2.0M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02535	−0.139%	$753K	$405K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02534	−0.215%	$42K	$250K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02537	−0.084%	$568K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02536	−0.118%	$68K	$501K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02539	0.000%	$5K	$6K	5x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02530	−0.354%	$105K	$4K	10x	as long as short
Extended MON-USD	+0.0104%	1h	0.02540	+0.056%	$50K	$516K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02539	+0.008%	$38K	—	3x	as long as short
Aftermath Perps MONUSD	+0.0245%	1h	0.02534	−0.211%	$2K	$74K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02539	+0.008%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02539	0.000%	$1.3M	$322K	75x	as long as short
Kraken Futures PF_MONUSD	+0.0489%	1h	0.02542	+0.101%	$271K	$100K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0536%	1h	0.02542	+0.098%	$111K	$52K	50x	as long as short