Funding arb · Price arb /

MON

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0009%/8h= −1.0% APRpaid last 24h +0.022%

Price spread now: edgeX against Injective+0.203%7-day average — · you sell dearer than you buy

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

Long on Injective Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

The price spread pays, funding is against you. edgeX is 0.203% dearer against Injective than usual: you sell high and buy low (spread +0.203% now, against zero (this spread has no 7-day history yet)): +$20 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 2 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective MON/USDC PERP	0.02500	0.0109	pay 0.0014% / 1h	2m 36s	$5K	$113	5.5x
Short	edgeX MONUSDC	0.02505	0.0100	get 0.0050% / 4h	1h 02m	$41K	$251K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Injective. 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 InjectivebpFee edgeXbpOrdersPrice spread, now +0.203%Rate

Funding earned: −$1.96
Price spread: +0.203% → 0.000%: $20.25
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $9.27
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; edgeX: live order book, 40 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 Injective no order-book sample	—	—	—	—	—
Sell edgeX live order book, 40 min ago	8.01 bp	19.4 bp −$19	doesn't fit	doesn't fit	doesn't fit

Injective: 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	0.02505	+0.200%	$13K	$353K	5x	as long as short
Perpl MON	0.0000%	43m	0.02505	+0.204%	$126K	$2.2M	10x	as long as short
Orderly PERP_MON_USDC	+0.0089%	4h	0.02504	+0.160%	$16K	$48K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02503	+0.120%	$803K	$787K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02500	−0.005%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02510	+0.400%	$393K	$575K	10x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02504	+0.162%	$99K	$213K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02503	+0.128%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02502	+0.076%	$138K	$91K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02502	+0.086%	$23.8M	$27.6M	75x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit MONUSDT	+0.0100%	8h	0.02500	+0.016%	$20.7M	$13.8M	50x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02499	−0.040%	$4.2M	$6.2M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02500	0.000%	$103K	−$0	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02504	+0.160%	$933K	$1.0M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02508	+0.320%	$2.9M	$766K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02504	+0.160%	$2.7M	$2.3M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02507	+0.268%	$110K	$156K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02504	+0.142%	$743K	$411K	—	as long as short
edgeX MONUSDCshort	+0.0100%	4h	0.02505	+0.203%	$41K	$251K	10x
GRVT MON_USDT_Perp	+0.0100%	4h	0.02507	+0.278%	$565K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02506	+0.240%	$68K	$536K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02504	+0.160%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02505	+0.216%	$47K	$268K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02503	+0.128%	$38K	—	3x	as long as short
Injective MON/USDC PERPlong	+0.0109%	1h	0.02500	long leg	$5K	$113	5.5x
GMX MON/USD [ETH-USDC]	L +0.0231% / S −0.0246%	1h	0.02503	+0.104%	$6K	—	50x	as long as short
01 Exchange MONUSD	+0.0272%	1h	0.02503	+0.108%	$6K	$3K	5x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02506	+0.240%	$1.3M	$348K	75x	as long as short
Deribit MON_USDC-PERPETUAL	+0.0389%	1h	0.02505	+0.204%	$73K	$138K	25x	as long as short
Hyperliquid MON	+0.0424%	1h	0.02504	+0.168%	$33.9M	$7.8M	5x	as long as short
Aftermath Perps MONUSD	+0.0460%	1h	0.02504	+0.176%	$6K	$100K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0576%	1h	0.02511	+0.448%	$110K	$53K	50x	as long as short
Kraken Futures PF_MONUSD	+0.0843%	1h	0.02507	+0.293%	$269K	$119K	10x	as long as short