Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0035%/8h= +3.8% APRpaid last 24h −0.019%

Price spread now: Gate against Deribit−0.154%7-day average −0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$89as in the Price arb table

costs, in and out, $10k−$780.779% of the position

Long on Deribit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.047%−$5 on $10k

Price spread, last 4 days (all we have)−0.432%−$43 · spread now −0.154%, 7d avg −0.040%

Together, before fees−0.479%−$48 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.114% cheaper against Deribit than usual: you would sell low and buy high (spread −0.154% now, against its 7-day average of −0.040%). If the spread goes back, that is −$11 on $10k: about 11 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MON_USDC-PERPETUAL	0.02539	0.0065	pay 0.0008% / 1h	34m 59s	$68K	$125K	25x
Short	Gate MON_USDT	0.02535	0.0100	get 0.0050% / 4h	1h 34m	$955K	$918K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.154%Rate

Funding earned: $7.31
Price spread: −0.154% → −0.040%: −$11.4
Slippage, 4 orders: −$55.88
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$81.98
Costs to cover: 0.779%
Break-even: 85.5 days

Slippage from Deribit: live order book, 4 min ago; Gate: live order book, 27 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, 4 min ago	11.47 bp	20.2 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 27 min ago	3.94 bp	21.6 bp −$22	306.9 bp −$3,069	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	0.02527	−0.473%	$13K	$367K	5x	as long as short
Backpack MON_USDC_PERP	−0.0267%	1h	0.02538	−0.020%	$114K	$151K	10x	as long as short
Injective MON/USDC PERP	−0.0253%	1h	0.02535	−0.154%	$6K	$111	5.5x	as long as short
Bybit MONUSDT	−0.0148%	8h	0.02533	−0.228%	$20.8M	$12.9M	50x	as long as short
01 Exchange MONUSD	−0.0016%	1h	0.02535	−0.150%	$6K	$1K	5x	as long as short
Perpl MON	0.0000%	43m	0.02538	−0.024%	$105K	$2.3M	10x	as long as short
Deribit MON_USDC-PERPETUALlong	+0.0065%	1h	0.02539	long leg	$68K	$125K	25x
Orderly PERP_MON_USDC	+0.0082%	4h	0.02537	−0.075%	$16K	$51K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02540	+0.043%	$846K	$738K	10x	as long as short
Paradex MON-USD-PERP	+0.0099%	8h	0.02534	−0.204%	$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	0.02537	−0.085%	$408K	$540K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02539	+0.012%	$34.4M	$7.4M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02535	−0.154%	$101K	$229K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02528	−0.420%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02530	−0.370%	$140K	$93K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02537	−0.075%	$24.2M	$26.1M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02535	−0.154%	$4.2M	$5.8M	50x	as long as short
Gate MON_USDTshort	+0.0100%	4h	0.02535	−0.154%	$955K	$918K	50x
KuCoin MONUSDTM	+0.0100%	4h	0.02538	−0.035%	$2.9M	$742K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02536	−0.114%	$2.7M	$2.0M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02531	−0.331%	$752K	$405K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02528	−0.439%	$41K	$250K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02529	−0.381%	$566K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02530	−0.351%	$68K	$501K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02538	−0.035%	$5K	$6K	5x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02530	−0.351%	$105K	$4K	10x	as long as short
Extended MON-USD	+0.0104%	1h	0.02539	−0.015%	$50K	$516K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02538	−0.039%	$38K	—	3x	as long as short
Aftermath Perps MONUSD	+0.0243%	1h	0.02532	−0.274%	$2K	$74K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02537	−0.059%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02539	+0.004%	$1.3M	$308K	75x	as long as short
Kraken Futures PF_MONUSD	+0.0490%	1h	0.02539	+0.012%	$270K	$100K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0536%	1h	0.02533	−0.248%	$111K	$52K	50x	as long as short