Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.005%

Price spread now: edgeX against Phoenix−0.080%7-day average −0.080% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$690.688% of the position

Long on Phoenix Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.264%+$26 on $10k

Price spread, last 3 days (all we have)−0.062%−$6 · spread now −0.080%, 7d avg −0.080%

Together, before fees+0.202%+ Points / potential airdropedgeX: Active · farm board+$20 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.080%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix MON	0.02591	0	get 0.0000% / 1h	3m 40s	$13K	$384K	5x
Short	edgeX MONUSDC	0.02589	0.0100	get 0.0050% / 4h	2h 03m	$47K	$242K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Phoenix. 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 PhoenixbpFee edgeXbpOrdersPrice spread, now −0.080%Rate

Funding earned: $21
Price spread: −0.080% → −0.080%: $0.04
Slippage, 4 orders: −$52.81
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$47.76
Costs to cover: 0.688%
Break-even: 22.9 days

Slippage from Phoenix: live order book, 18 min ago; edgeX: live order book, 19 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 Phoenix live order book, 18 min ago	1.15 bp	13.2 bp −$13	52.4 bp −$524	doesn't fit	doesn't fit
Sell edgeX live order book, 19 min ago	9.61 bp	20.8 bp −$21	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
Injective MON/USDC PERP	−0.0739%	1h	0.02599	+0.317%	$6K	$110	5.5x	as long as short
Deribit MON_USDC-PERPETUAL	−0.0370%	1h	0.02581	−0.390%	$66K	$114K	25x	as long as short
01 Exchange MONUSD	−0.0336%	1h	0.02571	−0.745%	$6K	$1K	5x	as long as short
Bybit MONUSDT	−0.0027%	8h	0.02579	−0.455%	$21.5M	$11.8M	50x	as long as short
Phoenix MONlong	0.0000%	1h	0.02591	long leg	$13K	$384K	5x
Paradex MON-USD-PERP	+0.0070%	8h	0.02581	−0.362%	$8K	$42	5x	as long as short
Orderly PERP_MON_USDC	+0.0077%	4h	0.02579	−0.455%	$17K	$64K	10x	as long as short
Aftermath Perps MONUSD	+0.0081%	1h	0.02589	−0.072%	$2K	$73K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02582	−0.340%	$844K	$763K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02582	−0.351%	$388K	$536K	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	0.02583	−0.309%	$34.8M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02582	−0.349%	$108K	$233K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02583	−0.284%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02582	−0.347%	$142K	$106K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02582	−0.340%	$24.5M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02579	−0.455%	$4.4M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02600	+0.355%	$109K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02581	−0.378%	$1.0M	$935K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02584	−0.262%	$2.7M	$1.8M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02579	−0.441%	$778K	$412K	—	as long as short
edgeX MONUSDCshort	+0.0100%	4h	0.02589	−0.080%	$47K	$242K	10x
GRVT MON_USDT_Perp	+0.0100%	4h	0.02592	+0.059%	$583K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02589	−0.069%	$69K	$479K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02578	−0.494%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02582	−0.336%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02578	−0.490%	$39K	—	3x	as long as short
BloFin MON-USDT	+0.0109%	4h	0.02576	−0.571%	$1.4M	$244K	75x	as long as short
Kraken Futures PF_MONUSD	+0.0132%	1h	0.02584	−0.270%	$266K	$67K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02581	−0.363%	$9K	—	50x	as long as short
Backpack MON_USDC_PERP	+0.0270%	1h	0.02581	−0.386%	$138K	$137K	10x	as long as short
KuCoin MONUSDTM	+0.0326%	4h	0.02583	−0.301%	$3.1M	$747K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02580	−0.428%	$144K	$1.8M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0648%	1h	0.02607	+0.614%	$114K	$50K	50x	as long as short