Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.019%

Price spread now: edgeX against Deribit−0.187%7-day average −0.075% · you buy dearer than you sell

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$730.734% of the position

Long on Deribit Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.028%−$3 on $10k

Price spread, last 4 days (all we have)−0.389%−$39 · spread now −0.187%, 7d avg −0.075%

Together, before fees−0.417%+ Points / potential airdropedgeX: Active · farm board−$42 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.112% cheaper against Deribit than usual: you would sell low and buy high (spread −0.187% now, against its 7-day average of −0.075%). If the spread goes back, that is −$11 on $10k: about 3.7 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MON_USDC-PERPETUAL	0.02530	0	get 0.0000% / 1h	11m 09s	$68K	$125K	25x
Short	edgeX MONUSDC	0.02525	0.0100	get 0.0050% / 4h	1h 11m	$41K	$249K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Deribit. 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 DeribitbpFee edgeXbpOrdersPrice spread, now −0.187%Rate

Funding earned: $21
Price spread: −0.187% → −0.075%: −$11.17
Slippage, 4 orders: −$57.37
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$63.54
Costs to cover: 0.734%
Break-even: 28.2 days

Slippage from Deribit: live order book, 28 min ago; edgeX: live order book, 51 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 Deribit live order book, 28 min ago	11.47 bp	20.2 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 51 min ago	7.88 bp	18.8 bp −$19	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
Phoenix MON	−0.0316%	1h	0.02528	−0.067%	$12K	$367K	5x	as long as short
Backpack MON_USDC_PERP	−0.0266%	1h	0.02531	+0.059%	$112K	$152K	10x	as long as short
Injective MON/USDC PERP	−0.0253%	1h	0.02528	−0.075%	$5K	$112	5.5x	as long as short
Bybit MONUSDT	−0.0146%	8h	0.02528	−0.075%	$20.8M	$13.1M	50x	as long as short
01 Exchange MONUSD	−0.0088%	1h	0.02524	−0.217%	$6K	$1K	5x	as long as short
Perpl MON	0.0000%	43m	0.02529	−0.043%	$105K	$2.3M	10x	as long as short
Deribit MON_USDC-PERPETUALlong	0.0000%	1h	0.02530	long leg	$68K	$125K	25x
Orderly PERP_MON_USDC	+0.0084%	4h	0.02528	−0.075%	$16K	$51K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02530	+0.004%	$844K	$738K	10x	as long as short
Paradex MON-USD-PERP	+0.0099%	8h	0.02524	−0.218%	$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	0.02528	−0.062%	$412K	$543K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02531	+0.059%	$34.2M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02527	−0.127%	$101K	$222K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02525	−0.203%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02526	−0.154%	$140K	$93K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02529	−0.036%	$24.0M	$26.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02528	−0.075%	$4.2M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02520	−0.375%	$103K	$5K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02527	−0.115%	$951K	$965K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02527	−0.115%	$2.9M	$743K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02531	+0.043%	$2.7M	$2.1M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02523	−0.272%	$749K	$405K	—	as long as short
edgeX MONUSDCshort	+0.0100%	4h	0.02525	−0.187%	$41K	$249K	10x
GRVT MON_USDT_Perp	+0.0100%	4h	0.02526	−0.155%	$565K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02524	−0.233%	$68K	$504K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02529	−0.036%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02531	+0.047%	$48K	$518K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02528	−0.075%	$38K	—	3x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02528	−0.055%	$9K	—	50x	as long as short
Aftermath Perps MONUSD	+0.0262%	1h	0.02529	−0.047%	$2K	$74K	10x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02526	−0.154%	$1.3M	$320K	75x	as long as short
Kraken Futures PF_MONUSD	+0.0491%	1h	0.02532	+0.085%	$270K	$113K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0536%	1h	0.02530	+0.004%	$111K	$57K	50x	as long as short