Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0268%/8h= +29.3% APRpaid last 24h +0.214%

Price spread now: Coinbase International against Bitget−0.155%7-day average +0.489% · you buy dearer than you sell

Net, funding: paid 7d − costs+$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$151as in the Price arb table

costs, in and out, $10k−$870.867% of the position

Long on Bitget Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.976%+$98 on $10k

Price spread, last 4 days (all we have)+0.818%+$82 · spread now −0.155%, 7d avg +0.489%

Together, before fees+1.794%+$179 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.644% cheaper against Bitget than usual: you would sell low and buy high (spread −0.155% now, against its 7-day average of +0.489%). If the spread goes back, that is −$64 on $10k: about 8.0 days of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MONUSDT	0.02522	0.0100	pay 0.0050% / 4h	3h 57m	$2.7M	$2.2M	25x
Short	Coinbase International MON-PERP-INTX	0.02518	0.0368	get 0.0046% / 1h	57m 48s	$110K	$57K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bitget. 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 BitgetbpFee Coinbase InternationalbpOrdersPrice spread, now −0.155%Rate

Funding earned: $56.28
Price spread: −0.155% → +0.489%: −$64.41
Slippage, 4 orders: −$64.71
Fee Bitget: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$94.84
Costs to cover: 0.867%
Break-even: 18.8 days

Slippage from Bitget: live order book, 5 min ago; Coinbase International: live order book, 60 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 Bitget live order book, 5 min ago	3.97 bp	16.2 bp −$16	50.0 bp −$500	doesn't fit	doesn't fit
Sell Coinbase International live order book, 60 min ago	19.71 bp	25.1 bp −$25	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	−0.0203%	1h	0.02507	−0.595%	$5K	$109	5.5x	as long as short
Bybit MONUSDT	−0.0096%	8h	0.02520	−0.079%	$20.8M	$13.3M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02519	−0.127%	$12K	$358K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02520	−0.087%	$74K	$136K	25x	as long as short
Orderly PERP_MON_USDC	+0.0072%	4h	0.02520	−0.079%	$16K	$34K	10x	as long as short
Paradex MON-USD-PERP	+0.0095%	8h	0.02518	−0.147%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02522	0.000%	$846K	$732K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02521	−0.023%	$427K	$578K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02522	+0.004%	$34.0M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02520	−0.062%	$101K	$222K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX MON-USD	+0.0100%	1h	0.02520	−0.089%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02520	−0.075%	$139K	$93K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02520	−0.079%	$24.0M	$26.9M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02521	−0.040%	$4.2M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02510	−0.476%	$103K	$5K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02521	−0.040%	$945K	$976K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02520	−0.079%	$2.8M	$757K	75x	as long as short
Bitget MONUSDTlong	+0.0100%	4h	0.02522	long leg	$2.7M	$2.2M	25x
Backpack MON_USDC_PERP	+0.0100%	1h	0.02522	−0.004%	$114K	$151K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02519	−0.136%	$745K	$410K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02518	−0.151%	$41K	$251K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02519	−0.121%	$564K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02517	−0.198%	$68K	$512K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02519	−0.119%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02522	+0.016%	$48K	$519K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02518	−0.139%	$38K	—	3x	as long as short
01 Exchange MONUSD	+0.0160%	1h	0.02521	−0.056%	$6K	$1K	5x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02519	−0.103%	$9K	—	50x	as long as short
Aftermath Perps MONUSD	+0.0279%	1h	0.02518	−0.141%	$2K	$74K	10x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02520	−0.079%	$1.3M	$340K	75x	as long as short
Coinbase International MON-PERP-INTXshort	+0.0368%	1h	0.02518	−0.155%	$110K	$57K	50x
Perpl MON	+0.0447%	43m	0.02520	−0.075%	$114K	$2.3M	10x	as long as short
Kraken Futures PF_MONUSD	+0.0723%	1h	0.02523	+0.047%	$271K	$115K	10x	as long as short