Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0390%/8h= −42.7% APRpaid last 24h +0.030%

Price spread now: Deribit against Bitget−0.069%48s7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$740.737% of the position

Long on Bitget Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.068%+$7 on $10k

Price spread, last 3 days (all we have)+0.415%+$41 · spread now −0.069%, 7d avg 0.000%

Together, before fees+0.483%+$48 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Deribit is 0.069% cheaper against Bitget than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of 0.000%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.068%, so the current rate has only just turned against you. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.068% in total (about 3.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MONUSDT	0.02593	0.0100	pay 0.0050% / 4h	2h 28m	$2.8M	$1.8M	25x
Short	Deribit MON_USDC-PERPETUAL	0.02591	−0.0290	pay 0.0036% / 1h	28m 27s	$63K	$110K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.069%Rate

Funding earned: −$81.9
Price spread: −0.069% → 0.000%: −$6.92
Slippage, 4 orders: −$54.73
Fee Bitget: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$162.54
Costs to cover: 0.737%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; Deribit: live order book, 35 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, 4 min ago	5.77 bp	22.5 bp −$23	53.3 bp −$533	doesn't fit	doesn't fit
Sell Deribit live order book, 35 min ago	8.25 bp	14.3 bp −$14	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	0.02596	+0.116%	$6K	$109	5.5x	as long as short
Deribit MON_USDC-PERPETUALshort	−0.0290%	1h	0.02591	−0.069%	$63K	$110K	25x
01 Exchange MONUSD	−0.0256%	1h	0.02589	−0.170%	$6K	$1K	5x	as long as short
Bybit MONUSDT	−0.0011%	8h	0.02589	−0.154%	$21.6M	$11.8M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02591	−0.062%	$13K	$384K	5x	as long as short
Orderly PERP_MON_USDC	+0.0091%	4h	0.02589	−0.154%	$17K	$64K	10x	as long as short
BloFin MON-USDT	+0.0093%	4h	0.02590	−0.116%	$1.4M	$246K	75x	as long as short
Paradex MON-USD-PERP	+0.0095%	8h	0.02590	−0.118%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02592	−0.039%	$849K	$753K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02593	0.000%	$375K	$527K	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	0.02593	+0.015%	$35.0M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02590	−0.119%	$108K	$233K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02595	+0.065%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02591	−0.077%	$143K	$106K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02590	−0.106%	$24.6M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02588	−0.193%	$4.4M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02600	+0.270%	$109K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02591	−0.077%	$1.0M	$933K	50x	as long as short
Bitget MONUSDTlong	+0.0100%	4h	0.02593	long leg	$2.8M	$1.8M	25x
Variational Omni MON	+0.0100%	8h	0.02593	+0.015%	$778K	$407K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02595	+0.081%	$48K	$243K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02593	0.000%	$582K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02594	+0.039%	$69K	$481K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02590	−0.116%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02593	−0.004%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02590	−0.135%	$39K	—	3x	as long as short
Kraken Futures PF_MONUSD	+0.0131%	1h	0.02595	+0.075%	$267K	$67K	10x	as long as short
Aftermath Perps MONUSD	+0.0214%	1h	0.02594	+0.029%	$2K	$73K	10x	as long as short
Backpack MON_USDC_PERP	+0.0227%	1h	0.02591	−0.062%	$137K	$136K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02592	−0.042%	$9K	—	50x	as long as short
KuCoin MONUSDTM	+0.0326%	4h	0.02596	+0.116%	$3.2M	$745K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02591	−0.062%	$145K	$1.8M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0648%	1h	0.02609	+0.613%	$115K	$49K	50x	as long as short