Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0126%/8h= +13.8% APRpaid last 24h +0.182%

Price spread now: Kraken Futures against BloFin+0.141%7-day average +0.071% · you sell dearer than you buy

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$950.953% of the position

Long on BloFin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.319%+$32 on $10k

Price spread, last 3 days (all we have)−0.062%−$6 · spread now +0.141%, 7d avg +0.071%

Together, before fees+0.257%+$26 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Kraken Futures is 0.070% dearer against BloFin than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.071%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin MON-USDT	0.02558	0.0340	pay 0.0170% / 4h	3h 57m	$1.3M	$306K	75x
Short	Kraken Futures PF_MONUSD	0.02562	0.0466	get 0.0058% / 1h	57m 15s	$269K	$78K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BloFin. 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 BloFinbpFee Kraken FuturesbpOrdersPrice spread, now +0.141%Rate

Funding earned: $26.54
Price spread: +0.141% → +0.071%: $7.02
Slippage, 4 orders: −$73.27
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$61.71
Costs to cover: 0.953%
Break-even: 23.3 days

Slippage from BloFin: live order book, 10 min ago; Kraken Futures: live order book, 15 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 BloFin live order book, 10 min ago	1.96 bp	15.1 bp −$15	37.8 bp −$378	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 15 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	0.02559	+0.039%	$6K	$104	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02559	+0.055%	$13K	$351K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02559	+0.035%	$69K	$119K	25x	as long as short
01 Exchange MONUSD	+0.0016%	1h	0.02559	+0.023%	$6K	$1K	5x	as long as short
Orderly PERP_MON_USDC	+0.0070%	4h	0.02558	0.000%	$17K	$64K	10x	as long as short
Backpack MON_USDC_PERP	+0.0073%	1h	0.02558	+0.008%	$127K	$141K	10x	as long as short
Bybit MONUSDT	+0.0076%	8h	0.02557	−0.039%	$21.1M	$12.1M	50x	as long as short
Lighter MON	+0.0096%	1h	0.02559	+0.039%	$850K	$739K	10x	as long as short
Paradex MON-USD-PERP	+0.0097%	8h	0.02557	−0.051%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02562	+0.151%	$390K	$541K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid MON	+0.0100%	1h	0.02560	+0.074%	$34.6M	$7.7M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02560	+0.081%	$106K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02561	+0.124%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02559	+0.035%	$141K	$104K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02557	−0.031%	$24.4M	$25.5M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02556	−0.078%	$4.3M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02560	+0.078%	$107K	−$0	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02559	+0.039%	$978K	$889K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02559	+0.039%	$2.7M	$1.9M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02560	+0.065%	$773K	$407K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02561	+0.129%	$47K	$243K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02565	+0.274%	$581K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02565	+0.274%	$68K	$482K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02558	0.000%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02561	+0.120%	$51K	$404K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02558	+0.008%	$39K	—	3x	as long as short
Aftermath Perps MONUSD	+0.0111%	1h	0.02561	+0.126%	$3K	$75K	10x	as long as short
KuCoin MONUSDTM	+0.0234%	4h	0.02564	+0.235%	$3.0M	$719K	75x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0598%	1h	0.02559	+0.020%	$8K	—	50x	as long as short
BloFin MON-USDTlong	+0.0340%	4h	0.02558	long leg	$1.3M	$306K	75x
Perpl MON	+0.0447%	43m	0.02559	+0.023%	$124K	$1.8M	10x	as long as short
Kraken Futures PF_MONUSDshort	+0.0466%	1h	0.02562	+0.141%	$269K	$78K	10x
Coinbase International MON-PERP-INTX	+0.0808%	1h	0.02609	+1.990%	$115K	$50K	50x	as long as short