MON

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0010%/8h= +1.1% APRnext payment +$0.01 per $10,000 · paid last 24h −0.055%

Price spread now: Deribit against Backpack−0.044%7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$118as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$460.462% of the position

Long on Backpack Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.714%−$71 on $10k

Price spread, last 4 days (all we have)+0.110%+$11 · spread now −0.044%, 7d avg +0.002%

Together, before fees−0.605%−$60 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.046% cheaper against Backpack than usual: you would sell low and buy high (spread −0.044% now, against its 7-day average of +0.002%). If the spread goes back, that is −$5 on $10k: about 15 days of funding at the current rate ($0 a day). Mind the row above: over the last 7 days funding on this pair cost −0.714%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack MON_USDC_PERP	0.02502	0.0100	pay 0.0013% / 1h	8m 51s	$110K	$156K	10x
Short	Deribit MON_USDC-PERPETUAL	0.02501	0.0110	get 0.0014% / 1h	8m 51s	$73K	$138K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Backpack. 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 BackpackbpFee DeribitbpOrdersPrice spread, now −0.044%Rate

Funding earned: $2.1
Price spread: −0.044% → +0.002%: −$4.57
Slippage, 4 orders: −$29.2
Fee Backpack: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$48.67
Costs to cover: 0.462%
Break-even: 169.1 days

Slippage from Backpack: live order book, 34 min ago; Deribit: live order book, 10 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 Backpack live order book, 34 min ago	1.60 bp	10.5 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 10 min ago	9.00 bp	12.5 bp −$12	doesn't fit	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	0.0000%	1h	0.02501	−0.044%	$13K	$353K	5x	as long as short
Perpl MON	0.0000%	43m	0.02501	−0.028%	$126K	$2.2M	10x	as long as short
Orderly PERP_MON_USDC	+0.0087%	4h	0.02501	−0.036%	$16K	$48K	10x	as long as short
Bybit MONUSDT	+0.0094%	8h	0.02497	−0.196%	$20.6M	$13.7M	50x	as long as short
Lighter MON	+0.0096%	1h	0.02501	−0.036%	$802K	$787K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02500	−0.084%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02503	+0.045%	$393K	$575K	10x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02499	−0.108%	$99K	$213K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02499	−0.126%	$12K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02501	−0.036%	$138K	$91K	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	0.02498	−0.156%	$23.7M	$27.5M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02498	−0.156%	$4.2M	$6.2M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02500	−0.076%	$103K	−$0	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02499	−0.116%	$931K	$1.0M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02504	+0.084%	$2.9M	$767K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02500	−0.076%	$2.7M	$2.3M	25x	as long as short
Backpack MON_USDC_PERPlong	+0.0100%	1h	0.02502	long leg	$110K	$156K	10x
Variational Omni MON	+0.0100%	8h	0.02499	−0.134%	$741K	$411K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02497	−0.177%	$41K	$250K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02504	+0.072%	$565K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02501	−0.036%	$68K	$534K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02499	−0.116%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02501	−0.040%	$47K	$268K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02499	−0.108%	$38K	—	3x	as long as short
Injective MON/USDC PERP	+0.0109%	1h	0.02500	−0.076%	$5K	$113	5.5x	as long as short
Deribit MON_USDC-PERPETUALshort	+0.0110%	1h	0.02501	−0.044%	$73K	$138K	25x
GMX MON/USD [ETH-USDC]	L +0.0230% / S −0.0246%	1h	0.02500	−0.076%	$6K	—	50x	as long as short
01 Exchange MONUSD	+0.0264%	1h	0.02501	−0.052%	$6K	$3K	5x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02500	−0.076%	$1.3M	$348K	75x	as long as short
Hyperliquid MON	+0.0371%	1h	0.02501	−0.028%	$33.8M	$7.8M	5x	as long as short
Aftermath Perps MONUSD	+0.0397%	1h	0.02502	+0.002%	$6K	$100K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0576%	1h	0.02511	+0.372%	$110K	$53K	50x	as long as short
Kraken Futures PF_MONUSD	+0.0845%	1h	0.02501	−0.018%	$269K	$119K	10x	as long as short