Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0360%/8h= +39.5% APRpaid last 24h +0.190%

Price spread now: Kraken Futures against Binance+0.042%7-day average +0.097% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$99as in the Price arb table

costs, in and out, $10k−$930.931% of the position

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.514%+$51 on $10k

Price spread, last 3 days (all we have)+0.212%+$21 · spread now +0.042%, 7d avg +0.097%

Together, before fees+0.726%+$73 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.055% cheaper against Binance than usual: you would sell low and buy high (spread +0.042% now, against its 7-day average of +0.097%). If the spread goes back, that is −$6 on $10k: about 12 hours of funding at the current rate (+$11 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MONUSDT	0.02594	0.0100	pay 0.0050% / 4h	3h 40m	$24.8M	$25.7M	75x
Short	Kraken Futures PF_MONUSD	0.02595	0.0460	get 0.0058% / 1h	40m 26s	$272K	$78K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Binance. 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 BinancebpFee Kraken FuturesbpOrdersPrice spread, now +0.042%Rate

Funding earned: $75.7
Price spread: +0.042% → +0.097%: −$5.51
Slippage, 4 orders: −$73.12
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$22.94
Costs to cover: 0.931%
Break-even: 9.1 days

Slippage from Binance: live order book, 1 min ago; Kraken Futures: live order book, 32 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 Binance live order book, 1 min ago	1.93 bp	15.7 bp −$16	51.8 bp −$518	466.2 bp −$46.6K	doesn't fit
Sell Kraken Futures live order book, 32 min ago	17.59 bp	27.5 bp −$28	510.4 bp −$5,104	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	−0.0444%	1h	0.02556	−1.448%	$6K	$105	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02587	−0.269%	$13K	$351K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02596	+0.086%	$70K	$119K	25x	as long as short
01 Exchange MONUSD	+0.0064%	1h	0.02594	+0.024%	$6K	$1K	5x	as long as short
Orderly PERP_MON_USDC	+0.0070%	4h	0.02593	−0.022%	$17K	$64K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02591	−0.099%	$861K	$751K	10x	as long as short
Paradex MON-USD-PERP	+0.0098%	8h	0.02593	−0.037%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02598	+0.182%	$397K	$541K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02598	+0.167%	$35.3M	$7.7M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02593	−0.041%	$108K	$231K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX MON-USD	+0.0100%	1h	0.02588	−0.208%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02590	−0.153%	$143K	$104K	3x	as long as short
Binance MONUSDTlong	+0.0100%	4h	0.02594	long leg	$24.8M	$25.7M	75x
Bybit MONUSDT	+0.0100%	8h	0.02592	−0.060%	$21.4M	$12.2M	50x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02591	−0.099%	$4.4M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02550	−1.680%	$105K	$2K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02593	−0.022%	$989K	$899K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02595	+0.055%	$2.8M	$1.9M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02588	−0.230%	$128K	$142K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02584	−0.365%	$782K	$407K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02587	−0.251%	$44K	$246K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02592	−0.059%	$587K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02568	−0.986%	$68K	$483K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02594	+0.017%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02599	+0.196%	$50K	$478K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02594	+0.017%	$39K	—	3x	as long as short
Aftermath Perps MONUSD	+0.0117%	1h	0.02576	−0.686%	$3K	$76K	10x	as long as short
KuCoin MONUSDTM	+0.0176%	4h	0.02595	+0.055%	$3.0M	$724K	75x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02595	+0.044%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02588	−0.215%	$1.4M	$310K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02595	+0.044%	$132K	$1.9M	10x	as long as short
Kraken Futures PF_MONUSDshort	+0.0460%	1h	0.02595	+0.042%	$272K	$78K	10x
Coinbase International MON-PERP-INTX	+0.0808%	1h	0.02593	−0.010%	$114K	$50K	50x	as long as short