Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0131%/8h= −14.3% APRpaid last 24h −0.038%

Price spread now: Binance against GMX+0.068%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 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. Binance is 0.068% dearer against GMX than usual: you sell high and buy low (spread +0.068% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 42 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX MON/USD [ETH-USDC]	0.02503	L +0.0231% / S −0.0246%	pay 0.0029% / 1h	55m 15s	$6K	—	50x
Short	Binance MONUSDT	0.02505	0.0100	get 0.0050% / 4h	1h 55m	$23.8M	$27.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against GMX. 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 GMXbpFee BinancebpOrdersPrice spread, now +0.068%Rate

Funding earned: −$27.41
Price spread: +0.068% → 0.000%: $6.79
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$42.62
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Binance: live order book, 1 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Binance live order book, 1 min ago	2.00 bp	11.5 bp −$12	54.7 bp −$547	290.4 bp −$29.0K	doesn't fit

GMX: 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
Phoenix MON	0.0000%	1h	0.02509	+0.236%	$12K	$353K	5x	as long as short
Backpack MON_USDC_PERP	+0.0032%	1h	0.02507	+0.164%	$114K	$154K	10x	as long as short
Bybit MONUSDT	+0.0032%	8h	0.02503	−0.012%	$20.6M	$13.7M	50x	as long as short
Deribit MON_USDC-PERPETUAL	+0.0070%	1h	0.02505	+0.048%	$74K	$135K	25x	as long as short
Aftermath Perps MONUSD	+0.0077%	1h	0.02513	+0.381%	$6K	$98K	10x	as long as short
Orderly PERP_MON_USDC	+0.0084%	4h	0.02505	+0.068%	$16K	$48K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02506	+0.108%	$804K	$786K	10x	as long as short
Paradex MON-USD-PERP	+0.0099%	8h	0.02503	+0.007%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02507	+0.152%	$401K	$578K	10x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02505	+0.081%	$99K	$221K	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	0.02507	+0.138%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02505	+0.080%	$139K	$93K	3x	as long as short
Binance MONUSDTshort	+0.0100%	4h	0.02505	+0.068%	$23.8M	$27.6M	75x
OKX MON-USDT-SWAP	+0.0100%	4h	0.02504	+0.028%	$4.2M	$6.2M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02520	+0.662%	$103K	$1K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02507	+0.148%	$938K	$1.0M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02510	+0.268%	$2.9M	$766K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02505	+0.068%	$2.7M	$2.3M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02507	+0.130%	$743K	$413K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02513	+0.385%	$41K	$249K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02513	+0.379%	$558K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02509	+0.228%	$68K	$532K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02504	+0.028%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02506	+0.125%	$53K	$262K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02503	0.000%	$38K	—	3x	as long as short
Injective MON/USDC PERP	+0.0109%	1h	0.02506	+0.108%	$5K	$108	5.5x	as long as short
GMX MON/USD [ETH-USDC]long	L +0.0231% / S −0.0246%	1h	0.02503	long leg	$6K	—	50x
01 Exchange MONUSD	+0.0272%	1h	0.02503	−0.024%	$7K	$2K	5x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02506	+0.108%	$1.3M	$347K	75x	as long as short
Hyperliquid MON	+0.0390%	1h	0.02508	+0.180%	$33.9M	$7.8M	5x	as long as short
Perpl MON	+0.0447%	43m	0.02505	+0.060%	$114K	$2.2M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0576%	1h	0.02542	+1.566%	$112K	$55K	50x	as long as short
Kraken Futures PF_MONUSD	+0.0843%	1h	0.02507	+0.141%	$269K	$118K	10x	as long as short