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 −0.212%

Price spread now: Binance against Coinbase International−1.423%7-day average −0.523% · you buy dearer than you sell

Net, funding: paid 7d − costs−$177as in the Funding arb table

Net, price: spread back to 7d avg − costs−$173as in the Price arb table

costs, in and out, $10k−$830.829% of the position

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.940%−$94 on $10k

Price spread, last 4 days (all we have)+1.110%+$111 · spread now −1.423%, 7d avg −0.523%

Together, before fees+0.170%+$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Binance is 0.900% cheaper against Coinbase International than usual: you would sell low and buy high (−$90 if the spread goes back to its 7-day average of −0.523%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MON-PERP-INTX	0.02530	0.0368	pay 0.0046% / 1h	2m 13s	$110K	$57K	50x
Short	Binance MONUSDT	0.02494	0.0100	get 0.0050% / 4h	3h 02m	$23.7M	$27.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Coinbase International. 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 Coinbase InternationalbpFee BinancebpOrdersPrice spread, now −1.423%Rate

Funding earned: −$56.28
Price spread: −1.423% → −0.523%: −$89.98
Slippage, 4 orders: −$62.95
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$229.21
Costs to cover: 0.829%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 50 min ago; Binance: live order book, 9 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 Coinbase International live order book, 50 min ago	17.19 bp	23.0 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	2.00 bp	18.5 bp −$18	61.5 bp −$615	288.6 bp −$28.9K	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	0.02515	−0.593%	$5K	$114	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02503	−1.075%	$12K	$358K	5x	as long as short
Bybit MONUSDT	+0.0009%	8h	0.02492	−1.502%	$20.5M	$13.5M	50x	as long as short
Backpack MON_USDC_PERP	+0.0013%	1h	0.02497	−1.324%	$110K	$153K	10x	as long as short
Orderly PERP_MON_USDC	+0.0079%	4h	0.02495	−1.383%	$16K	$48K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02496	−1.344%	$837K	$733K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02494	−1.433%	$7K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02496	−1.348%	$403K	$586K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02494	−1.403%	$33.6M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02495	−1.369%	$100K	$218K	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	0.02497	−1.293%	$12K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02495	−1.368%	$138K	$92K	3x	as long as short
Binance MONUSDTshort	+0.0100%	4h	0.02494	−1.423%	$23.7M	$27.0M	75x
OKX MON-USDT-SWAP	+0.0100%	4h	0.02493	−1.462%	$4.2M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02500	−1.186%	$103K	$1K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02494	−1.423%	$931K	$992K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02499	−1.225%	$2.9M	$762K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02496	−1.344%	$2.7M	$2.2M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02500	−1.183%	$741K	$403K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02500	−1.200%	$41K	$251K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02502	−1.106%	$563K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02502	−1.107%	$68K	$522K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02495	−1.383%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02494	−1.409%	$51K	$280K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02494	−1.423%	$38K	—	3x	as long as short
Deribit MON_USDC-PERPETUAL	+0.0111%	1h	0.02496	−1.364%	$73K	$136K	25x	as long as short
01 Exchange MONUSD	+0.0192%	1h	0.02494	−1.435%	$6K	$1K	5x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0259% / S −0.0429%	1h	0.02494	−1.403%	$9K	—	50x	as long as short
Aftermath Perps MONUSD	+0.0272%	1h	0.02502	−1.125%	$2K	$78K	10x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02499	−1.225%	$1.3M	$337K	75x	as long as short
Coinbase International MON-PERP-INTXlong	+0.0368%	1h	0.02530	long leg	$110K	$57K	50x
Perpl MON	+0.0447%	43m	0.02496	−1.364%	$114K	$2.2M	10x	as long as short
Kraken Futures PF_MONUSD	+0.0730%	1h	0.02498	−1.279%	$268K	$113K	10x	as long as short