Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0356%/8h= +39.0% APRpaid last 24h +0.211%

Price spread now: Coinbase International against OKX+2.181%7-day average +0.579% · you sell dearer than you buy

Net, funding: paid 7d − costs−$244as in the Funding arb table

Net, price: spread back to 7d avg − costs−$179as in the Price arb table

costs, in and out, $10k−$3393.392% of the position

Long on OKX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.954%+$95 on $10k

Price spread, last 4 days (all we have)−1.673%−$167 · spread now +2.181%, 7d avg +0.579%

Together, before fees−0.719%−$72 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Coinbase International is 1.602% dearer against OKX than usual: you sell high and buy low: +$160 more if the spread goes back to its 7-day average of +0.579%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MON-USDT-SWAP	0.02476	0.0100	pay 0.0050% / 4h	2h 30m	$4.1M	$6.0M	50x
Short	Coinbase International MON-PERP-INTX	0.02530	0.0456	get 0.0057% / 1h	30m 38s	$110K	$54K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against OKX. 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 OKXbpFee Coinbase InternationalbpOrdersPrice spread, now +2.181%Rate

Funding earned: $74.76
Price spread: +2.181% → +0.579%: $160.16
Slippage, 4 orders: −$319.24
Fee OKX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$104.33
Costs to cover: 3.392%
Break-even: 16.8 days

Slippage from OKX: live order book, 2 min ago; Coinbase International: live order book, 17 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 OKX live order book, 2 min ago	2.02 bp	18.0 bp −$18	81.0 bp −$810	doesn't fit	doesn't fit
Sell Coinbase International live order book, 17 min ago	29.25 bp	160.6 bp −$161	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
Backpack MON_USDC_PERP	−0.0120%	1h	0.02477	+0.024%	$115K	$156K	10x	as long as short
Bybit MONUSDT	−0.0009%	8h	0.02475	−0.040%	$20.3M	$13.6M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02478	+0.077%	$12K	$355K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02476	−0.012%	$73K	$136K	25x	as long as short
01 Exchange MONUSD	+0.0024%	1h	0.02478	+0.073%	$6K	$1K	5x	as long as short
Injective MON/USDC PERP	+0.0039%	1h	0.02489	+0.525%	$5K	$113	5.5x	as long as short
Orderly PERP_MON_USDC	+0.0083%	4h	0.02475	−0.040%	$16K	$48K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02477	+0.040%	$816K	$755K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02476	+0.012%	$7K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02477	+0.044%	$409K	$569K	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	0.02478	+0.065%	$33.2M	$7.6M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02476	+0.009%	$99K	$221K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02474	−0.093%	$12K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02477	+0.061%	$137K	$92K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02476	+0.016%	$23.5M	$27.4M	75x	as long as short
OKX MON-USDT-SWAPlong	+0.0100%	4h	0.02476	long leg	$4.1M	$6.0M	50x
Bulk MON-USD	+0.0100%	1h	0.02475	−0.040%	$102K	$1K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02476	0.000%	$926K	$1.0M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02480	+0.162%	$2.8M	$764K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02479	+0.121%	$2.7M	$2.2M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02473	−0.137%	$732K	$407K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02473	−0.121%	$41K	$251K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02477	+0.027%	$557K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02477	+0.040%	$67K	$527K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02475	−0.040%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02477	+0.053%	$47K	$288K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02474	−0.081%	$37K	—	3x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0230% / S −0.0246%	1h	0.02476	−0.016%	$6K	—	50x	as long as short
Aftermath Perps MONUSD	+0.0230%	1h	0.02482	+0.242%	$5K	$81K	10x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02472	−0.162%	$1.3M	$346K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02477	+0.057%	$113K	$2.2M	10x	as long as short
Coinbase International MON-PERP-INTXshort	+0.0456%	1h	0.02530	+2.181%	$110K	$54K	50x
Kraken Futures PF_MONUSD	+0.1027%	1h	0.02479	+0.120%	$266K	$119K	10x	as long as short