Funding you earn now, next payment 01:00 UTC−0.0260%/8h= −28.5% APRnext payment −$0.32 per $10,000 · paid last 24h −0.032%
Price spread now: Phoenix against GMX+0.443%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
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. Phoenix is 0.443% dearer against GMX than usual: you sell high and buy low (spread +0.443% now, against zero (this spread has no 7-day history yet)): +$44 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 5.7 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX MON/USD [ETH-USDC] | 0.02529 | L +0.0260% / S −0.0429% | pay 0.0032% / 1h | 44m 42s | $9K | — | 50x |
| Short | Phoenix MON | 0.02540 | 0 | get 0.0000% / 1h | 44m 42s | $13K | $349K | 5x |
GMX MON/USD [ETH-USDC]
Phoenix MONFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against GMX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$54.58
- Price spread: +0.443% → 0.000%
- $44.29
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$29.29
- Costs to cover
- 0.190%
- Break-even
- from the start
Slippage unknown: GMX: no order-book sample; Phoenix: live order book, 21 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 Phoenix live order book, 21 min ago | 1.16 bp | 13.0 bp −$13 | 44.7 bp −$447 | 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 | −0.0388% | 1h | 0.02541 | +0.482% | $6K | $106 | 5.5x | as long as short |
| 01 Exchange MONUSD | −0.0032% | 1h | 0.02535 | +0.229% | $6K | $1K | 5x | as long as short |
| Phoenix MONshort | 0.0000% | 1h | 0.02540 | +0.443% | $13K | $349K | 5x | |
| Deribit MON_USDC-PERPETUAL | 0.0000% | 1h | 0.02527 | −0.051% | $68K | $125K | 25x | as long as short |
| Bybit MONUSDT | +0.0003% | 8h | 0.02525 | −0.150% | $20.8M | $12.7M | 50x | as long as short |
| Orderly PERP_MON_USDC | +0.0060% | 4h | 0.02526 | −0.111% | $16K | $56K | 10x | as long as short |
| Paradex MON-USD-PERP | +0.0095% | 8h | 0.02527 | −0.054% | $8K | $42 | 5x | as long as short |
| Lighter MON | +0.0096% | 1h | 0.02530 | +0.047% | $843K | $740K | 10x | as long as short |
| Nado MON-PERP | +0.0100% | 1h | 0.02541 | +0.470% | $406K | $542K | 10x | as long as short |
| Aster MONUSDT | +0.0100% | 4h | 0.02528 | −0.039% | $101K | $229K | 10x | as long as short |
Injective MON/USDC PERP
01 Exchange MONUSD
Deribit MON_USDC-PERPETUAL
Bybit MONUSDT
Orderly PERP_MON_USDC
Paradex MON-USD-PERP
Lighter MON
Nado MON-PERP
Aster MONUSDTShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| dYdX MON-USD | +0.0100% | 1h | 0.02529 | −0.004% | $13K | — | 5x | as long as short |
| Pacifica MON | +0.0100% | 1h | 0.02530 | +0.028% | $140K | $104K | 3x | as long as short |
| Binance MONUSDT | +0.0100% | 4h | 0.02527 | −0.071% | $24.1M | $25.9M | 75x | as long as short |
| OKX MON-USDT-SWAP | +0.0100% | 4h | 0.02527 | −0.071% | $4.2M | $5.9M | 50x | as long as short |
| Bulk MON-USD | +0.0100% | 1h | 0.02535 | +0.249% | $105K | $4K | 10x | as long as short |
| Gate MON_USDT | +0.0100% | 4h | 0.02526 | −0.111% | $946K | $896K | 50x | as long as short |
| KuCoin MONUSDTM | +0.0100% | 4h | 0.02530 | +0.047% | $2.9M | $744K | 75x | as long as short |
| Bitget MONUSDT | +0.0100% | 4h | 0.02528 | −0.032% | $2.7M | $2.0M | 25x | as long as short |
| Backpack MON_USDC_PERP | +0.0100% | 1h | 0.02529 | +0.024% | $117K | $160K | 10x | as long as short |
| Variational Omni MON | +0.0100% | 8h | 0.02530 | +0.032% | $761K | $411K | — | as long as short |
| edgeX MONUSDC | +0.0100% | 4h | 0.02537 | +0.334% | $43K | $249K | 10x | as long as short |
| GRVT MON_USDT_Perp | +0.0100% | 4h | 0.02550 | +0.856% | $573K | $1.5M | 10x | as long as short |
| ApeX Omni MONUSDT | +0.0100% | 1h | 0.02537 | +0.324% | $68K | $491K | 50x | as long as short |
| SoDEX MON-USD | +0.0100% | 1h | 0.02526 | −0.111% | $5K | $6K | 5x | as long as short |
| Extended MON-USD | +0.0104% | 1h | 0.02531 | +0.092% | $48K | $520K | 10x | as long as short |
| Aevo MON-PERP | +0.0104% | 1h | 0.02525 | −0.138% | $38K | — | 3x | as long as short |
| GMX MON/USD [ETH-USDC]long | L +0.0260% / S −0.0429% | 1h | 0.02529 | long leg | $9K | — | 50x | |
| BloFin MON-USDT | +0.0340% | 4h | 0.02549 | +0.799% | $1.4M | $310K | 75x | as long as short |
| Aftermath Perps MONUSD | +0.0343% | 1h | 0.02545 | +0.627% | $4K | $76K | 10x | as long as short |
| Hyperliquid MON | +0.0408% | 1h | 0.02533 | +0.182% | $34.6M | $7.6M | 5x | as long as short |
| Perpl MON | +0.0447% | 43m | 0.02536 | +0.269% | $114K | $2.1M | 10x | as long as short |
| Coinbase International MON-PERP-INTX | +0.0744% | 1h | 0.02524 | −0.186% | $110K | $51K | 50x | as long as short |
| Kraken Futures PF_MONUSD | +0.0846% | 1h | 0.02529 | +0.011% | $275K | $88K | 10x | as long as short |
dYdX MON-USD
Pacifica MON
Binance MONUSDT
OKX MON-USDT-SWAP
Bulk MON-USD
Gate MON_USDT
KuCoin MONUSDTM
Bitget MONUSDT
Backpack MON_USDC_PERP
Variational Omni MON
edgeX MONUSDC
GRVT MON_USDT_Perp
ApeX Omni MONUSDT
SoDEX MON-USD
Extended MON-USD
Aevo MON-PERP
BloFin MON-USDT
Aftermath Perps MONUSD
Hyperliquid MON
Perpl MON
Coinbase International MON-PERP-INTX
Kraken Futures PF_MONUSD