Funding you earn now, next payment 22:00 UTC−0.0159%/8h= −17.4% APRnext payment −$0.20 per $10,000 · paid last 24h −0.159%
Price spread now: Nado against Backpack+0.039%7-day average +0.122% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$53as in the Price arb table
costs, in and out, $10k−$450.450% of the position
Funding, last 3 days (all we have)−0.228%−$23 on $10k
+Price spread, last 3 days (all we have)+0.334%+$33 · spread now +0.039%, 7d avg +0.122%
=Together, before fees+0.106%+ Points / potential airdropNado: Active · farm board+$11 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Nado is 0.083% cheaper against Backpack than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.122%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack MON_USDC_PERP | 0.02587 | 0.0259 | pay 0.0032% / 1h | 40m 35s | $137K | $137K | 10x |
| Short | Nado MON-PERP | 0.02588 | 0.0100 | get 0.0012% / 1h | 40m 35s | $353K | $535K | 10x |
Backpack MON_USDC_PERP
Nado MON-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$33.36
- Price spread: +0.039% → +0.122%
- −$8.27
- Slippage, 4 orders
- −$28.01
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$86.64
- Costs to cover
- 0.450%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 47 min ago; Nado: live order book, 47 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, 47 min ago | 0.97 bp | 12.6 bp −$13 | doesn't fit | doesn't fit | doesn't fit |
| Sell Nado live order book, 47 min ago | 1.75 bp | 10.6 bp −$11 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective MON/USDC PERP | −0.0739% | 1h | 0.02587 | +0.015% | $6K | $107 | 5.5x | as long as short |
| Deribit MON_USDC-PERPETUAL | −0.0214% | 1h | 0.02587 | +0.027% | $63K | $110K | 25x | as long as short |
| 01 Exchange MONUSD | −0.0200% | 1h | 0.02585 | −0.073% | $6K | $1K | 5x | as long as short |
| Phoenix MON | 0.0000% | 1h | 0.02587 | +0.023% | $13K | $384K | 5x | as long as short |
| Bybit MONUSDT | +0.0013% | 8h | 0.02584 | −0.101% | $21.6M | $11.8M | 50x | as long as short |
| BloFin MON-USDT | +0.0086% | 4h | 0.02587 | +0.015% | $1.4M | $243K | 75x | as long as short |
| Orderly PERP_MON_USDC | +0.0093% | 4h | 0.02585 | −0.062% | $17K | $64K | 10x | as long as short |
| Lighter MON | +0.0096% | 1h | 0.02588 | +0.054% | $848K | $753K | 10x | as long as short |
| Paradex MON-USD-PERP | +0.0098% | 8h | 0.02586 | −0.025% | $8K | $42 | 5x | as long as short |
| Nado MON-PERPshort | +0.0100% | 1h | 0.02588 | +0.039% | $353K | $535K | 10x |
Injective MON/USDC PERP
Deribit MON_USDC-PERPETUAL
01 Exchange MONUSD
Phoenix MON
Bybit MONUSDT
BloFin MON-USDT
Orderly PERP_MON_USDC
Lighter MON
Paradex MON-USD-PERPShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid MON | +0.0100% | 1h | 0.02588 | +0.050% | $34.9M | $7.5M | 5x | as long as short |
| Aster MONUSDT | +0.0100% | 4h | 0.02586 | −0.027% | $108K | $233K | 10x | as long as short |
| dYdX MON-USD | +0.0100% | 1h | 0.02588 | +0.048% | $13K | — | 5x | as long as short |
| Pacifica MON | +0.0100% | 1h | 0.02586 | −0.012% | $143K | $107K | 3x | as long as short |
| Binance MONUSDT | +0.0100% | 4h | 0.02587 | +0.015% | $24.6M | $24.5M | 75x | as long as short |
| OKX MON-USDT-SWAP | +0.0100% | 4h | 0.02585 | −0.062% | $4.4M | $6.0M | 50x | as long as short |
| Bulk MON-USD | +0.0100% | 1h | 0.02581 | −0.224% | $108K | $3K | 10x | as long as short |
| Gate MON_USDT | +0.0100% | 4h | 0.02587 | +0.015% | $1.0M | $929K | 50x | as long as short |
| Bitget MONUSDT | +0.0100% | 4h | 0.02588 | +0.054% | $2.7M | $1.8M | 25x | as long as short |
| Variational Omni MON | +0.0100% | 8h | 0.02584 | −0.119% | $777K | $405K | — | as long as short |
| edgeX MONUSDC | +0.0100% | 4h | 0.02583 | −0.137% | $47K | $243K | 10x | as long as short |
| GRVT MON_USDT_Perp | +0.0100% | 4h | 0.02586 | −0.023% | $581K | $1.5M | 10x | as long as short |
| ApeX Omni MONUSDT | +0.0100% | 1h | 0.02583 | −0.139% | $69K | $482K | 50x | as long as short |
| SoDEX MON-USD | +0.0100% | 1h | 0.02585 | −0.062% | $5K | $6K | 5x | as long as short |
| Extended MON-USD | +0.0104% | 1h | 0.02588 | +0.063% | $52K | $407K | 10x | as long as short |
| Aevo MON-PERP | +0.0104% | 1h | 0.02585 | −0.073% | $39K | — | 3x | as long as short |
| Kraken Futures PF_MONUSD | +0.0132% | 1h | 0.02589 | +0.096% | $263K | $63K | 10x | as long as short |
| Backpack MON_USDC_PERPlong | +0.0259% | 1h | 0.02587 | long leg | $137K | $137K | 10x | |
| GMX MON/USD [ETH-USDC] | L +0.0261% / S −0.0598% | 1h | 0.02588 | +0.054% | $9K | — | 50x | as long as short |
| Aftermath Perps MONUSD | +0.0330% | 1h | 0.02586 | −0.022% | $2K | $73K | 10x | as long as short |
| KuCoin MONUSDTM | +0.0344% | 4h | 0.02593 | +0.247% | $3.2M | $747K | 75x | as long as short |
| Perpl MON | +0.0447% | 43m | 0.02588 | +0.054% | $145K | $1.8M | 10x | as long as short |
| Coinbase International MON-PERP-INTX | +0.0648% | 1h | 0.02595 | +0.344% | $114K | $51K | 50x | as long as short |
Hyperliquid MON
Aster MONUSDT
dYdX MON-USD
Pacifica MON
Binance MONUSDT
OKX MON-USDT-SWAP
Bulk MON-USD
Gate MON_USDT
Bitget MONUSDT
Variational Omni MON
edgeX MONUSDC
GRVT MON_USDT_Perp
ApeX Omni MONUSDT
SoDEX MON-USD
Extended MON-USD
Aevo MON-PERP
Kraken Futures PF_MONUSD
GMX MON/USD [ETH-USDC]
Aftermath Perps MONUSD
KuCoin MONUSDTM
Perpl MON
Coinbase International MON-PERP-INTX