Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0146%/8h= +16.0% APRpaid last 24h +0.101%

Price spread now: GMX against Orderly−0.027%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on GMX

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

Funding pays, the price is against you. GMX is 0.027% cheaper against Orderly than usual: you would sell low and buy high (spread −0.027% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 15 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_MON_USDC	0.02554	0.0100	pay 0.0050% / 4h	2h 55m	$16K	$36K	10x
Short	GMX MON/USD [ETH-USDC]	0.02553	L +0.0231% / S −0.0246%	get 0.0031% / 1h	55m 58s	$7K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Orderly. 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 OrderlybpFee GMXbpOrdersPrice spread, now −0.027%Rate

Funding earned: $30.73
Price spread: −0.027% → 0.000%: −$2.74
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: $9.99
Costs to cover: 0.180%
Break-even: 4.7 days

Slippage unknown: Orderly: no order-book sample; GMX: 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 Orderly no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

Orderly and 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
Backpack MON_USDC_PERP	−0.0051%	1h	0.02553	−0.055%	$113K	$152K	10x	as long as short
Phoenix MON	0.0000%	1h	0.02557	+0.098%	$14K	$307K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02553	−0.047%	$73K	$133K	25x	as long as short
Injective MON/USDC PERP	+0.0033%	1h	0.02505	−1.919%	$5K	$104	5.5x	as long as short
Lighter MON	+0.0096%	1h	0.02554	0.000%	$833K	$759K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02557	+0.116%	$8K	$42	5x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02553	−0.031%	$34.4M	$6.6M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02553	−0.042%	$101K	$202K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02553	−0.025%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02557	+0.133%	$142K	$89K	3x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance MONUSDT	+0.0100%	4h	0.02550	−0.157%	$24.6M	$26.8M	75x	as long as short
Bybit MONUSDT	+0.0100%	8h	0.02548	−0.235%	$21.3M	$13.5M	50x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02548	−0.235%	$4.3M	$6.1M	50x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02554	0.000%	$1.1M	$1.1M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02552	−0.078%	$2.9M	$763K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02553	−0.039%	$2.8M	$2.3M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02549	−0.215%	$757K	$375K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02555	+0.052%	$42K	$250K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02557	+0.133%	$580K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02557	+0.117%	$69K	$545K	50x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02553	−0.032%	$392K	$578K	10x	as long as short
Orderly PERP_MON_USDClong	+0.0100%	4h	0.02554	long leg	$16K	$36K	10x
SoDEX MON-USD	+0.0100%	1h	0.02552	−0.078%	$5K	$6K	5x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02555	+0.040%	$105K	−$0	10x	as long as short
Extended MON-USD	+0.0104%	1h	0.02553	−0.021%	$61K	$329K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02550	−0.137%	$39K	—	3x	as long as short
GMX MON/USD [ETH-USDC]short	L +0.0231% / S −0.0246%	1h	0.02553	−0.027%	$7K	—	50x
01 Exchange MONUSD	+0.0232%	1h	0.02553	−0.020%	$6K	$3K	5x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02562	+0.313%	$1.4M	$401K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02554	0.000%	$118K	$2.1M	10x	as long as short
Aftermath Perps MONUSD	+0.0647%	1h	0.02557	+0.110%	$4K	$97K	10x	as long as short
Kraken Futures PF_MONUSD	+0.0669%	1h	0.02554	+0.014%	$274K	$117K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0800%	1h	0.02575	+0.826%	$114K	$53K	50x	as long as short