Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0130%/8hnext payment −$0.16 per $10,000 · paid last 24h −0.035%

Price spread now: Pacifica against GMX+0.032%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 Pacifica

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—+ Points / potential airdropPacifica: Active · farm boardneeds both histories

The price spread pays, funding is against you. Pacifica is 0.032% dearer against GMX than usual: you sell high and buy low (spread +0.032% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 19 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX MON/USD [ETH-USDC]	0.02525	L +0.0230% / S −0.0343%	pay 0.0029% / 1h	6m 05s	$6K	—	50x
Short	Pacifica MON	0.02526	0.0100	get 0.0013% / 1h	6m 05s	$143K	$104K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.032%Rate

Funding earned: −$27.39
Price spread: +0.032% → 0.000%: $3.17
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$44.22
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Pacifica: live order book, 26 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 Pacifica live order book, 26 min ago	3.95 bp	32.0 bp −$32	doesn't fit	doesn't fit	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
Injective MON/USDC PERP	−0.0242%	1h	0.02531	+0.230%	$5K	$111	5.5x	as long as short
01 Exchange MONUSD	−0.0168%	1h	0.02526	+0.048%	$6K	$1K	5x	as long as short
Backpack MON_USDC_PERP	−0.0163%	1h	0.02528	+0.103%	$133K	$135K	10x	as long as short
Bybit MONUSDT	−0.0082%	8h	0.02522	−0.119%	$20.9M	$11.3M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02527	+0.091%	$13K	$374K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02526	+0.040%	$47K	$75K	25x	as long as short
BloFin MON-USDT	+0.0043%	4h	0.02529	+0.150%	$1.3M	$219K	75x	as long as short
Lighter MON	+0.0096%	1h	0.02528	+0.111%	$826K	$748K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02524	−0.032%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02527	+0.085%	$314K	$508K	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	0.02529	+0.139%	$34.1M	$7.4M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02526	+0.037%	$105K	$240K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02527	+0.091%	$13K	—	5x	as long as short
Pacifica MONshort	+0.0100%	1h	0.02526	+0.032%	$143K	$104K	3x
Binance MONUSDT	+0.0100%	4h	0.02526	+0.032%	$23.9M	$23.7M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02524	−0.048%	$4.3M	$5.7M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02530	+0.190%	$106K	$8K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02527	+0.071%	$956K	$939K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02527	+0.071%	$2.6M	$1.7M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02526	+0.051%	$753K	$366K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02531	+0.233%	$47K	$241K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02532	+0.264%	$564K	$1.4M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02533	+0.309%	$68K	$488K	50x	as long as short
Orderly PERP_MON_USDC	+0.0100%	4h	0.02523	−0.087%	$16K	$64K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02525	−0.008%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02527	+0.077%	$45K	$400K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02525	−0.024%	$38K	—	3x	as long as short
KuCoin MONUSDTM	+0.0210%	4h	0.02531	+0.230%	$3.0M	$775K	75x	as long as short
GMX MON/USD [ETH-USDC]long	L +0.0230% / S −0.0343%	1h	0.02525	long leg	$6K	—	50x
Aftermath Perps MONUSD	+0.0416%	1h	0.02531	+0.237%	$2K	$71K	10x	as long as short
Kraken Futures PF_MONUSD	+0.0422%	1h	0.02528	+0.127%	$252K	$57K	10x	as long as short
Perpl MON	+0.0447%	43m	0.02528	+0.103%	$207K	$1.7M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0624%	1h	0.02543	+0.721%	$112K	$49K	50x	as long as short