diff --git a/markets/spot-market/contracts/modules/WrapperModule.sol b/markets/spot-market/contracts/modules/WrapperModule.sol
index 01ff05598e..8e5857479c 100644
--- a/markets/spot-market/contracts/modules/WrapperModule.sol
+++ b/markets/spot-market/contracts/modules/WrapperModule.sol
@@ -87,7 +87,7 @@ contract WrapperModule is IWrapperModule {
         (amountToMint, fees, config) = MarketConfiguration.quoteWrap(
             marketId,
             wrapAmountD18,
-            Price.getCurrentPrice(marketId, Transaction.Type.WRAP, Price.Tolerance.STRICT)
+            Price.getCurrentPrice(marketId, Transaction.Type.WRAP, Price.Tolerance.ONE_MONTH)
         );
 
         if (amountToMint < minAmountReceived) {
@@ -147,7 +147,7 @@ contract WrapperModule is IWrapperModule {
         (returnCollateralAmountD18, fees, config) = MarketConfiguration.quoteUnwrap(
             marketId,
             unwrapAmount,
-            Price.getCurrentPrice(marketId, Transaction.Type.UNWRAP, Price.Tolerance.STRICT)
+            Price.getCurrentPrice(marketId, Transaction.Type.UNWRAP, Price.Tolerance.ONE_MONTH)
         );
 
         uint8 collateralDecimals = ITokenModule(wrapperStore.wrapCollateralType).decimals();
diff --git a/markets/spot-market/contracts/storage/Price.sol b/markets/spot-market/contracts/storage/Price.sol
index f8a09cadcb..023a278ae0 100644
--- a/markets/spot-market/contracts/storage/Price.sol
+++ b/markets/spot-market/contracts/storage/Price.sol
@@ -18,9 +18,12 @@ library Price {
 
     enum Tolerance {
         DEFAULT,
-        STRICT
+        STRICT,
+        ONE_MONTH
     }
 
+    uint256 private constant ONE_MONTH = 2592000;
+
     struct Data {
         /**
          * @dev The oracle manager node id used for buy transactions.
@@ -55,18 +58,18 @@ library Price {
 
         NodeOutput.Data memory output;
 
-        if (priceTolerance == Tolerance.STRICT) {
+        if (priceTolerance == Tolerance.DEFAULT) {
+            output = INodeModule(factory.oracle).process(feedId);
+        } else {
             bytes32[] memory runtimeKeys = new bytes32[](1);
             bytes32[] memory runtimeValues = new bytes32[](1);
             runtimeKeys[0] = bytes32("stalenessTolerance");
-            runtimeValues[0] = bytes32(self.strictStalenessTolerance);
+            runtimeValues[0] = toleranceBytes(self, priceTolerance);
             output = INodeModule(factory.oracle).processWithRuntime(
                 feedId,
                 runtimeKeys,
                 runtimeValues
             );
-        } else {
-            output = INodeModule(factory.oracle).process(feedId);
         }
 
         price = output.price.toUint();
@@ -101,4 +104,17 @@ library Price {
     function scaleTo(int256 amount, uint256 decimals) internal pure returns (int256 scaledAmount) {
         return (decimals > 18 ? amount.upscale(decimals - 18) : amount.downscale(18 - decimals));
     }
+
+    function toleranceBytes(
+        Data storage self,
+        Tolerance tolerance
+    ) internal view returns (bytes32) {
+        if (tolerance == Tolerance.STRICT) {
+            return bytes32(self.strictStalenessTolerance);
+        } else if (tolerance == Tolerance.ONE_MONTH) {
+            return bytes32(ONE_MONTH);
+        } else {
+            return bytes32(0);
+        }
+    }
 }
diff --git a/markets/spot-market/test/WrapperModule.test.ts b/markets/spot-market/test/WrapperModule.test.ts
index 08d4df3356..d9e89d93c0 100644
--- a/markets/spot-market/test/WrapperModule.test.ts
+++ b/markets/spot-market/test/WrapperModule.test.ts
@@ -11,7 +11,7 @@ import { formatBytes32String } from 'ethers/lib/utils';
 const bn = (n: number) => wei(n).toBN();
 
 describe('WrapperModule', () => {
-  const { systems, signers, marketId } = bootstrapTraders(
+  const { systems, signers, marketId, aggregator } = bootstrapTraders(
     bootstrapWithSynth('Synthetic Ether', 'snxETH')
   );
 
@@ -367,4 +367,48 @@ describe('WrapperModule', () => {
       );
     });
   });
+
+  describe('ensure it uses monthly price tolerance', () => {
+    const BASE_PRICE = bn(900);
+    beforeEach('reset monthly price', async () => {
+      await aggregator().mockSetMonthlyTolerancePrice(BASE_PRICE);
+    });
+
+    it('trader1 wraps 1 eth', async () => {
+      await systems().CollateralMock.connect(trader1).approve(systems().SpotMarket.address, bn(1));
+
+      const original = await systems()
+        .SpotMarket.connect(trader1)
+        .callStatic.wrap(marketId(), bn(1), 0);
+      await aggregator().mockSetMonthlyTolerancePrice(BASE_PRICE.mul(2));
+      const tx = await systems().SpotMarket.connect(trader1).callStatic.wrap(marketId(), bn(1), 0);
+
+      assertBn.equal(tx.fees.wrapperFees, original.fees.wrapperFees.mul(2));
+    });
+
+    it('trader1 unwraps 0.5 eth', async () => {
+      await synth.approve(systems().SpotMarket.address, bn(0.5));
+
+      const original = await systems()
+        .SpotMarket.connect(trader1)
+        .callStatic.unwrap(marketId(), bn(0.5), 0);
+      await aggregator().mockSetMonthlyTolerancePrice(BASE_PRICE.div(2));
+      const tx = await systems()
+        .SpotMarket.connect(trader1)
+        .callStatic.unwrap(marketId(), bn(0.5), 0);
+      assertBn.equal(tx.fees.wrapperFees, original.fees.wrapperFees.div(2));
+    });
+
+    it('strict price should have no effect', async () => {
+      await systems().CollateralMock.connect(trader1).approve(systems().SpotMarket.address, bn(1));
+
+      const original = await systems()
+        .SpotMarket.connect(trader1)
+        .callStatic.wrap(marketId(), bn(1), 0);
+      await aggregator().mockSetCurrentPrice(BASE_PRICE.mul(10));
+      const tx = await systems().SpotMarket.connect(trader1).callStatic.wrap(marketId(), bn(1), 0);
+
+      assertBn.equal(tx.fees.wrapperFees, original.fees.wrapperFees);
+    });
+  });
 });