Funding arb · Price arb /

MON

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0153%/8h= −16.8% APRpaid last 24h −0.005%

Price spread now: Injective against Gate+0.039%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Gate Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Injective is 0.039% dearer against Gate than usual: you sell high and buy low (spread +0.039% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 20 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MON_USDT	0.02581	0.0100	pay 0.0050% / 4h	1h 33m	$1.0M	$864K	50x
Short	Injective MON/USDC PERP	0.02582	−0.0053	pay 0.0007% / 1h	33m 13s	$6K	$108	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Gate. 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 GatebpFee InjectivebpOrdersPrice spread, now +0.039%Rate

Funding earned: −$32.18
Price spread: +0.039% → 0.000%: $3.87
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$43.32
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 4 min ago; Injective: no order-book sample. Net counts fees only.

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 Gate live order book, 4 min ago	7.74 bp	24.3 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Deribit MON_USDC-PERPETUAL	−0.0060%	1h	0.02581	−0.015%	$70K	$119K	25x	as long as short
Injective MON/USDC PERPshort	−0.0053%	1h	0.02582	+0.039%	$6K	$108	5.5x
01 Exchange MONUSD	−0.0048%	1h	0.02584	+0.116%	$6K	$1K	5x	as long as short
Bybit MONUSDT	−0.0047%	8h	0.02574	−0.271%	$21.4M	$11.7M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02580	−0.043%	$13K	$362K	5x	as long as short
Perpl MON	0.0000%	43m	0.02580	−0.023%	$143K	$1.8M	10x	as long as short
Aftermath Perps MONUSD	+0.0019%	1h	0.02585	+0.155%	$2K	$73K	10x	as long as short
Orderly PERP_MON_USDC	+0.0068%	4h	0.02580	−0.039%	$17K	$64K	10x	as long as short
Paradex MON-USD-PERP	+0.0079%	8h	0.02580	−0.035%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02579	−0.077%	$854K	$773K	10x	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	0.02585	+0.168%	$388K	$537K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02585	+0.143%	$35.0M	$7.4M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02583	+0.093%	$108K	$230K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02582	+0.052%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02584	+0.101%	$143K	$107K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02576	−0.194%	$24.5M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02574	−0.271%	$4.4M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02585	+0.171%	$109K	$3K	10x	as long as short
Gate MON_USDTlong	+0.0100%	4h	0.02581	long leg	$1.0M	$864K	50x
Bitget MONUSDT	+0.0100%	4h	0.02580	−0.039%	$2.7M	$1.8M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02581	+0.008%	$781K	$406K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02580	−0.045%	$47K	$243K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02584	+0.117%	$580K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02581	0.000%	$69K	$481K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02579	−0.077%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02584	+0.116%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02578	−0.097%	$39K	—	3x	as long as short
Kraken Futures PF_MONUSD	+0.0173%	1h	0.02584	+0.103%	$266K	$70K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02582	+0.019%	$9K	—	50x	as long as short
Backpack MON_USDC_PERP	+0.0265%	1h	0.02581	+0.004%	$138K	$136K	10x	as long as short
KuCoin MONUSDTM	+0.0332%	4h	0.02585	+0.155%	$3.2M	$724K	75x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02577	−0.155%	$1.3M	$293K	75x	as long as short
Coinbase International MON-PERP-INTX	+0.0536%	1h	0.02607	+0.996%	$114K	$49K	50x	as long as short