Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0130%/8h= −14.3% APRpaid last 24h +0.027%

Price spread now: KuCoin against GMX+0.260%7-day average — · you sell dearer than you buy

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

Long on GMX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 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. KuCoin is 0.260% dearer against GMX than usual: you sell high and buy low (spread +0.260% now, against zero (this spread has no 7-day history yet)): +$26 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 6.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX MON/USD [ETH-USDC]	0.02499	L +0.0230% / S −0.0246%	pay 0.0029% / 1h	23m 51s	$6K	—	50x
Short	KuCoin MONUSDTM	0.02505	0.0100	get 0.0050% / 4h	1h 23m	$2.9M	$767K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against GMX. 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 GMXbpFee KuCoinbpOrdersPrice spread, now +0.260%Rate

Funding earned: −$27.38
Price spread: +0.260% → 0.000%: $26.02
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$25.37
Costs to cover: 0.240%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; KuCoin: live order book, 3 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 3 min ago	14.01 bp	55.8 bp −$56	471.6 bp −$4,716	doesn't fit	doesn't fit

GMX: 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
Phoenix MON	0.0000%	1h	0.02491	−0.320%	$13K	$353K	5x	as long as short
Bybit MONUSDT	+0.0074%	8h	0.02498	−0.036%	$20.6M	$13.7M	50x	as long as short
Orderly PERP_MON_USDC	+0.0086%	4h	0.02501	+0.100%	$16K	$48K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02503	+0.180%	$803K	$787K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02498	−0.031%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02501	+0.120%	$394K	$574K	10x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02502	+0.122%	$99K	$221K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02500	+0.060%	$12K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02499	+0.008%	$138K	$91K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02501	+0.100%	$23.8M	$27.6M	75x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX MON-USDT-SWAP	+0.0100%	4h	0.02500	+0.060%	$4.2M	$6.2M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02485	−0.540%	$102K	$1K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02501	+0.100%	$932K	$1.0M	50x	as long as short
KuCoin MONUSDTMshort	+0.0100%	4h	0.02505	+0.260%	$2.9M	$767K	75x
Bitget MONUSDT	+0.0100%	4h	0.02502	+0.140%	$2.7M	$2.3M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02502	+0.140%	$110K	$156K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02498	−0.038%	$741K	$411K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02492	−0.259%	$41K	$250K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02494	−0.172%	$563K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02494	−0.180%	$68K	$536K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02500	+0.060%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02503	+0.196%	$47K	$268K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02500	+0.076%	$38K	—	3x	as long as short
Injective MON/USDC PERP	+0.0109%	1h	0.02489	−0.380%	$5K	$111	5.5x	as long as short
GMX MON/USD [ETH-USDC]long	L +0.0230% / S −0.0246%	1h	0.02499	long leg	$6K	—	50x
01 Exchange MONUSD	+0.0248%	1h	0.02500	+0.044%	$6K	$3K	5x	as long as short
Aftermath Perps MONUSD	+0.0280%	1h	0.02496	−0.110%	$6K	$100K	10x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02502	+0.140%	$1.3M	$349K	75x	as long as short
Hyperliquid MON	+0.0391%	1h	0.02503	+0.196%	$33.8M	$7.8M	5x	as long as short
Perpl MON	+0.0447%	43m	0.02505	+0.252%	$121K	$2.2M	10x	as long as short
Deribit MON_USDC-PERPETUAL	+0.0510%	1h	0.02501	+0.116%	$73K	$138K	25x	as long as short
Coinbase International MON-PERP-INTX	+0.0576%	1h	0.02500	+0.052%	$110K	$54K	50x	as long as short
Kraken Futures PF_MONUSD	+0.0844%	1h	0.02503	+0.176%	$269K	$119K	10x	as long as short