Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h −0.003%
Price spread now: Phoenix against Bulk+0.032%51s7-day average +0.054% · 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—prices read too far apart to compare
costs, in and out, $10k−$730.728% of the position
Funding, last 4 days (all we have)−0.026%−$3 on $10k
+Price spread, last 4 days (all we have)+0.320%+$32 · spread now +0.032%, 7d avg +0.054%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Phoenix is 0.022% cheaper against Bulk than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.054%). Swap the legs. The two prices were read 51 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 | Bulk MON-USD | 0.02500 | 0.0100 | pay 0.0013% / 1h | 7m 49s | $103K | −$0 | 10x |
| Short | Phoenix MON | 0.02501 | 0 | get 0.0000% / 1h | 7m 49s | $13K | $353K | 5x |
Bulk MON-USD
Phoenix MONFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Bulk. 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: +0.032% → +0.054%
- −$2.23
- Slippage, 4 orders
- −$58.77
- Fee Bulk: 3.5 bp × 2 orders
- −$7
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$96.01
- Costs to cover
- 0.728%
- Break-even
- never at this rate
Slippage from Bulk: live order book, 36 min ago; Phoenix: live order book, 34 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 Bulk live order book, 36 min ago | 19.96 bp | 23.5 bp −$23 | 23.5 bp −$235 | 116.8 bp −$11.7K | doesn't fit |
| Sell Phoenix live order book, 34 min ago | 1.20 bp | 12.9 bp −$13 | 44.5 bp −$445 | 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 MONshort | 0.0000% | 1h | 0.02501 | +0.032% | $13K | $353K | 5x | |
| Perpl MON | 0.0000% | 43m | 0.02500 | +0.020% | $126K | $2.2M | 10x | as long as short |
| Orderly PERP_MON_USDC | +0.0087% | 4h | 0.02500 | 0.000% | $16K | $48K | 10x | as long as short |
| Bybit MONUSDT | +0.0096% | 8h | 0.02497 | −0.120% | $20.6M | $13.7M | 50x | as long as short |
| Lighter MON | +0.0096% | 1h | 0.02501 | +0.040% | $802K | $787K | 10x | as long as short |
| Paradex MON-USD-PERP | +0.0100% | 8h | 0.02497 | −0.109% | $8K | $42 | 5x | as long as short |
| Nado MON-PERP | +0.0100% | 1h | 0.02502 | +0.061% | $393K | $575K | 10x | as long as short |
| Aster MONUSDT | +0.0100% | 4h | 0.02499 | −0.025% | $99K | $213K | 10x | as long as short |
| dYdX MON-USD | +0.0100% | 1h | 0.02499 | −0.050% | $12K | — | 5x | as long as short |
| Pacifica MON | +0.0100% | 1h | 0.02499 | −0.048% | $138K | $91K | 3x | as long as short |
Perpl MON
Orderly PERP_MON_USDC
Bybit MONUSDT
Lighter MON
Paradex MON-USD-PERP
Nado MON-PERP
Aster MONUSDT
dYdX MON-USD
Pacifica MONShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance MONUSDT | +0.0100% | 4h | 0.02499 | −0.032% | $23.7M | $27.5M | 75x | as long as short |
| OKX MON-USDT-SWAP | +0.0100% | 4h | 0.02498 | −0.080% | $4.2M | $6.2M | 50x | as long as short |
| Bulk MON-USDlong | +0.0100% | 1h | 0.02500 | long leg | $103K | −$0 | 10x | |
| Gate MON_USDT | +0.0100% | 4h | 0.02499 | −0.040% | $931K | $1.0M | 50x | as long as short |
| KuCoin MONUSDTM | +0.0100% | 4h | 0.02504 | +0.160% | $2.9M | $767K | 75x | as long as short |
| Bitget MONUSDT | +0.0100% | 4h | 0.02502 | +0.080% | $2.7M | $2.3M | 25x | as long as short |
| Backpack MON_USDC_PERP | +0.0100% | 1h | 0.02501 | +0.044% | $110K | $156K | 10x | as long as short |
| Variational Omni MON | +0.0100% | 8h | 0.02499 | −0.058% | $741K | $411K | — | as long as short |
| edgeX MONUSDC | +0.0100% | 4h | 0.02497 | −0.102% | $41K | $250K | 10x | as long as short |
| GRVT MON_USDT_Perp | +0.0100% | 4h | 0.02504 | +0.148% | $565K | $1.5M | 10x | as long as short |
| ApeX Omni MONUSDT | +0.0100% | 1h | 0.02501 | +0.040% | $68K | $534K | 50x | as long as short |
| SoDEX MON-USD | +0.0100% | 1h | 0.02499 | −0.040% | $5K | $6K | 5x | as long as short |
| Extended MON-USD | +0.0104% | 1h | 0.02503 | +0.109% | $47K | $268K | 10x | as long as short |
| Aevo MON-PERP | +0.0104% | 1h | 0.02499 | −0.060% | $38K | — | 3x | as long as short |
| Injective MON/USDC PERP | +0.0109% | 1h | 0.02500 | 0.000% | $5K | $113 | 5.5x | as long as short |
| Deribit MON_USDC-PERPETUAL | +0.0110% | 1h | 0.02499 | −0.024% | $73K | $138K | 25x | as long as short |
| GMX MON/USD [ETH-USDC] | L +0.0230% / S −0.0246% | 1h | 0.02499 | −0.060% | $6K | — | 50x | as long as short |
| 01 Exchange MONUSD | +0.0264% | 1h | 0.02499 | −0.036% | $6K | $3K | 5x | as long as short |
| BloFin MON-USDT | +0.0340% | 4h | 0.02500 | 0.000% | $1.3M | $348K | 75x | as long as short |
| Hyperliquid MON | +0.0374% | 1h | 0.02503 | +0.108% | $33.8M | $7.8M | 5x | as long as short |
| Aftermath Perps MONUSD | +0.0403% | 1h | 0.02500 | −0.004% | $6K | $100K | 10x | as long as short |
| Coinbase International MON-PERP-INTX | +0.0576% | 1h | 0.02511 | +0.448% | $110K | $53K | 50x | as long as short |
| Kraken Futures PF_MONUSD | +0.0845% | 1h | 0.02501 | +0.046% | $269K | $119K | 10x | as long as short |
Binance MONUSDT
OKX MON-USDT-SWAP
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
Injective MON/USDC PERP
Deribit MON_USDC-PERPETUAL
GMX MON/USD [ETH-USDC]
01 Exchange MONUSD
BloFin MON-USDT
Hyperliquid MON
Aftermath Perps MONUSD
Coinbase International MON-PERP-INTX
Kraken Futures PF_MONUSD