Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.005%
Price spread now: Phoenix against Binance+0.631%95s7-day average +0.047% · you sell dearer than you buy
Net, funding: paid 7d − costs−$82as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$580.577% of the position
Funding, last 7 days−0.247%−$25 on $10k
+Price spread, last 4 days (all we have)+0.520%+$52 · spread now +0.631%, 7d avg +0.047%
=The price spread pays, funding is against you. Phoenix is 0.583% dearer against Binance than usual: you sell high and buy low (spread +0.631% now, against its 7-day average of +0.047%): +$58 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 19 days. The two prices were read 95 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance MONUSDT | 0.02536 | 0.0100 | pay 0.0050% / 4h | 2h 09m | $24.2M | $26.0M | 75x |
| Short | Phoenix MON | 0.02552 | 0 | get 0.0000% / 1h | 9m 48s | $13K | $349K | 5x |
Binance MONUSDT
Phoenix MONFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Binance. 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
- −$21
- Price spread: +0.631% → +0.047%
- $58.34
- Slippage, 4 orders
- −$40.69
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$20.35
- Costs to cover
- 0.577%
- Break-even
- from the start
Slippage from Binance: live order book, 1 min ago; Phoenix: live order book, 56 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 | 3.92 bp | 13.1 bp −$13 | 45.6 bp −$456 | 469.8 bp −$47.0K | doesn't fit |
| Sell Phoenix live order book, 56 min ago | 1.16 bp | 13.0 bp −$13 | 44.7 bp −$447 | doesn't fit | doesn't fit |
MON on 32 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 | −0.0388% | 1h | 0.02546 | +0.394% | $6K | $109 | 5.5x | as long as short |
| Bybit MONUSDT | −0.0091% | 8h | 0.02533 | −0.118% | $20.8M | $12.8M | 50x | as long as short |
| Phoenix MONshort | 0.0000% | 1h | 0.02552 | +0.631% | $13K | $349K | 5x | |
| Deribit MON_USDC-PERPETUAL | 0.0000% | 1h | 0.02542 | +0.225% | $69K | $125K | 25x | as long as short |
| 01 Exchange MONUSD | +0.0024% | 1h | 0.02544 | +0.315% | $6K | $1K | 5x | as long as short |
| Orderly PERP_MON_USDC | +0.0065% | 4h | 0.02542 | +0.237% | $16K | $51K | 10x | as long as short |
| Lighter MON | +0.0096% | 1h | 0.02538 | +0.079% | $846K | $742K | 10x | as long as short |
| Paradex MON-USD-PERP | +0.0098% | 8h | 0.02547 | +0.441% | $8K | $42 | 5x | as long as short |
| Nado MON-PERP | +0.0100% | 1h | 0.02547 | +0.435% | $409K | $545K | 10x | as long as short |
| Hyperliquid MON | +0.0100% | 1h | 0.02539 | +0.103% | $34.4M | $7.5M | 5x | as long as short |
Injective MON/USDC PERP
Bybit MONUSDT
Deribit MON_USDC-PERPETUAL
01 Exchange MONUSD
Orderly PERP_MON_USDC
Lighter MON
Paradex MON-USD-PERP
Nado MON-PERP
Hyperliquid MONShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster MONUSDT | +0.0100% | 4h | 0.02543 | +0.276% | $102K | $229K | 10x | as long as short |
| dYdX MON-USD | +0.0100% | 1h | 0.02551 | +0.582% | $13K | — | 5x | as long as short |
| Pacifica MON | +0.0100% | 1h | 0.02551 | +0.584% | $141K | $104K | 3x | as long as short |
| Binance MONUSDTlong | +0.0100% | 4h | 0.02536 | long leg | $24.2M | $26.0M | 75x | |
| OKX MON-USDT-SWAP | +0.0100% | 4h | 0.02534 | −0.079% | $4.2M | $5.9M | 50x | as long as short |
| Bulk MON-USD | +0.0100% | 1h | 0.02545 | +0.350% | $106K | $4K | 10x | as long as short |
| Gate MON_USDT | +0.0100% | 4h | 0.02539 | +0.118% | $949K | $906K | 50x | as long as short |
| KuCoin MONUSDTM | +0.0100% | 4h | 0.02543 | +0.276% | $2.9M | $743K | 75x | as long as short |
| Bitget MONUSDT | +0.0100% | 4h | 0.02538 | +0.079% | $2.7M | $2.0M | 25x | as long as short |
| Backpack MON_USDC_PERP | +0.0100% | 1h | 0.02541 | +0.213% | $118K | $156K | 10x | as long as short |
| Variational Omni MON | +0.0100% | 8h | 0.02547 | +0.416% | $758K | $419K | — | as long as short |
| edgeX MONUSDC | +0.0100% | 4h | 0.02547 | +0.421% | $43K | $249K | 10x | as long as short |
| GRVT MON_USDT_Perp | +0.0100% | 4h | 0.02550 | +0.552% | $571K | $1.5M | 10x | as long as short |
| ApeX Omni MONUSDT | +0.0100% | 1h | 0.02548 | +0.473% | $68K | $497K | 50x | as long as short |
| SoDEX MON-USD | +0.0100% | 1h | 0.02542 | +0.237% | $5K | $6K | 5x | as long as short |
| Extended MON-USD | +0.0104% | 1h | 0.02539 | +0.138% | $51K | $513K | 10x | as long as short |
| Aevo MON-PERP | +0.0104% | 1h | 0.02541 | +0.197% | $38K | — | 3x | as long as short |
| GMX MON/USD [ETH-USDC] | L +0.0260% / S −0.0429% | 1h | 0.02544 | +0.300% | $9K | — | 50x | as long as short |
| Aftermath Perps MONUSD | +0.0285% | 1h | 0.02550 | +0.545% | $2K | $79K | 10x | as long as short |
| Perpl MON | +0.0447% | 43m | 0.02546 | +0.382% | $106K | $2.3M | 10x | as long as short |
| Coinbase International MON-PERP-INTX | +0.0744% | 1h | 0.02556 | +0.781% | $112K | $52K | 50x | as long as short |
| Kraken Futures PF_MONUSD | +0.0841% | 1h | 0.02545 | +0.343% | $277K | $88K | 10x | as long as short |
Aster MONUSDT
dYdX MON-USD
Pacifica MON
OKX MON-USDT-SWAP
Bulk MON-USD
Gate MON_USDT
KuCoin MONUSDTM
Bitget MONUSDT
Backpack MON_USDC_PERP
Variational Omni MON
edgeX MONUSDC
GRVT MON_USDT_Perp
ApeX Omni MONUSDT
SoDEX MON-USD
Extended MON-USD
Aevo MON-PERP
GMX MON/USD [ETH-USDC]
Aftermath Perps MONUSD
Perpl MON
Coinbase International MON-PERP-INTX
Kraken Futures PF_MONUSD