Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0436%/8h= −47.7% APRpaid last 24h −0.217%

Price spread now: OKX against Coinbase International−0.513%55s7-day average −0.574% · you buy dearer than you sell

Net, funding: paid 7d − costs−$390as 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−$2922.923% of the position

Long on Coinbase International Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.973%−$97 on $10k

Price spread, last 4 days (all we have)−0.284%−$28 · spread now −0.513%, 7d avg −0.574%

Together, before fees−1.257%−$126 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.061% dearer against Coinbase International than usual: you sell high and buy low (spread −0.513% now, against its 7-day average of −0.574%): +$6 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 11 hours. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MON-PERP-INTX	0.02534	0.0536	pay 0.0067% / 1h	8m 22s	$112K	$57K	50x
Short	OKX MON-USDT-SWAP	0.02521	0.0100	get 0.0050% / 4h	1h 08m	$4.2M	$5.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.513%Rate

Funding earned: −$91.56
Price spread: −0.513% → −0.574%: $6.14
Slippage, 4 orders: −$272.34
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$377.76
Costs to cover: 2.923%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 54 min ago; OKX: live order book, 4 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, 54 min ago	20.13 bp	149.0 bp −$149	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	5.94 bp	16.8 bp −$17	70.0 bp −$700	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
Phoenix MON	−0.0316%	1h	0.02528	−0.229%	$12K	$367K	5x	as long as short
Backpack MON_USDC_PERP	−0.0258%	1h	0.02524	−0.403%	$111K	$152K	10x	as long as short
Injective MON/USDC PERP	−0.0253%	1h	0.02528	−0.237%	$5K	$112	5.5x	as long as short
Bybit MONUSDT	−0.0131%	8h	0.02520	−0.552%	$20.7M	$13.1M	50x	as long as short
01 Exchange MONUSD	−0.0072%	1h	0.02521	−0.521%	$6K	$1K	5x	as long as short
Perpl MON	0.0000%	43m	0.02523	−0.426%	$104K	$2.3M	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02523	−0.422%	$68K	$125K	25x	as long as short
Orderly PERP_MON_USDC	+0.0085%	4h	0.02523	−0.434%	$16K	$50K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02524	−0.395%	$842K	$738K	10x	as long as short
Paradex MON-USD-PERP	+0.0099%	8h	0.02522	−0.486%	$8K	$42	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado MON-PERP	+0.0100%	1h	0.02523	−0.424%	$411K	$543K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02523	−0.454%	$34.1M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02523	−0.439%	$101K	$222K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02522	−0.485%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02523	−0.434%	$140K	$92K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02522	−0.474%	$24.0M	$26.7M	75x	as long as short
OKX MON-USDT-SWAPshort	+0.0100%	4h	0.02521	−0.513%	$4.2M	$5.9M	50x
Bulk MON-USD	+0.0100%	1h	0.02520	−0.536%	$103K	$5K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02522	−0.474%	$950K	$968K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02525	−0.355%	$2.9M	$743K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02523	−0.434%	$2.7M	$2.1M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02523	−0.434%	$749K	$405K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02526	−0.332%	$42K	$249K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02529	−0.207%	$566K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02524	−0.395%	$68K	$504K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02523	−0.434%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02523	−0.450%	$48K	$513K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02523	−0.454%	$38K	—	3x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02522	−0.474%	$9K	—	50x	as long as short
Aftermath Perps MONUSD	+0.0261%	1h	0.02527	−0.288%	$2K	$74K	10x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02518	−0.631%	$1.3M	$325K	75x	as long as short
Kraken Futures PF_MONUSD	+0.0492%	1h	0.02527	−0.293%	$269K	$113K	10x	as long as short
Coinbase International MON-PERP-INTXlong	+0.0536%	1h	0.02534	long leg	$112K	$57K	50x