MON

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0744%/8h= −81.5% APRnext payment −$0.93 per $10,000 · paid last 24h −0.217%

Price spread now: Phoenix against Coinbase International+0.063%7-day average −0.472% · you sell dearer than you buy

Net, funding: paid 7d − costs−$408as in the Funding arb table

Net, price: spread back to 7d avg − costs−$235as in the Price arb table

costs, in and out, $10k−$2892.888% of the position

Long on Coinbase International Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−1.188%−$119 on $10k

Price spread, last 3 days (all we have)−0.629%−$63 · spread now +0.063%, 7d avg −0.472%

Together, before fees−1.816%−$182 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phoenix is 0.535% dearer against Coinbase International than usual: you sell high and buy low (spread +0.063% now, against its 7-day average of −0.472%): +$54 on $10k if it goes back. Holding the pair costs −$22 a day in funding at the current rate, which eats that in about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MON-PERP-INTX	0.02548	0.0744	pay 0.0093% / 1h	54m 30s	$111K	$51K	50x
Short	Phoenix MON	0.02549	0	get 0.0000% / 1h	54m 30s	$13K	$349K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Coinbase International. 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 Coinbase InternationalbpFee PhoenixbpOrdersPrice spread, now +0.063%Rate

Funding earned: −$156.24
Price spread: +0.063% → −0.472%: $53.51
Slippage, 4 orders: −$271.83
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$391.56
Costs to cover: 2.888%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 13 min ago; Phoenix: live order book, 12 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 Coinbase International live order book, 13 min ago	29.90 bp	117.6 bp −$118	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix live order book, 12 min ago	1.16 bp	13.0 bp −$13	44.7 bp −$447	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
ApeX Omni MONUSDT	−0.0850%	1h	0.02545	−0.102%	$68K	$489K	50x	as long as short
Injective MON/USDC PERP	−0.0388%	1h	0.02541	−0.259%	$6K	$106	5.5x	as long as short
01 Exchange MONUSD	−0.0096%	1h	0.02538	−0.365%	$6K	$1K	5x	as long as short
Phoenix MONshort	0.0000%	1h	0.02549	+0.063%	$13K	$349K	5x
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02541	−0.267%	$69K	$119K	25x	as long as short
Bybit MONUSDT	+0.0055%	8h	0.02535	−0.495%	$21.1M	$12.3M	50x	as long as short
Orderly PERP_MON_USDC	+0.0060%	4h	0.02539	−0.338%	$16K	$58K	10x	as long as short
Paradex MON-USD-PERP	+0.0094%	8h	0.02540	−0.307%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02544	−0.141%	$848K	$740K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02547	−0.036%	$403K	$537K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster MONUSDT	+0.0100%	4h	0.02543	−0.168%	$106K	$227K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02544	−0.148%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02543	−0.181%	$141K	$103K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02540	−0.317%	$24.3M	$25.7M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02539	−0.338%	$4.3M	$5.8M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02545	−0.085%	$106K	$4K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02542	−0.220%	$955K	$884K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02543	−0.181%	$2.9M	$740K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02543	−0.181%	$2.7M	$2.0M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02544	−0.122%	$120K	$160K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02538	−0.373%	$764K	$411K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02548	+0.006%	$44K	$247K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02548	+0.016%	$572K	$1.5M	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02540	−0.298%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02546	−0.059%	$49K	$520K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02539	−0.357%	$38K	—	3x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0598%	1h	0.02540	−0.290%	$8K	—	50x	as long as short
Aftermath Perps MONUSD	+0.0334%	1h	0.02559	+0.452%	$4K	$74K	10x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02541	−0.259%	$1.4M	$308K	75x	as long as short
Hyperliquid MON	+0.0360%	1h	0.02546	−0.071%	$34.7M	$7.5M	5x	as long as short
Perpl MON	+0.0447%	43m	0.02544	−0.153%	$115K	$2.1M	10x	as long as short
Coinbase International MON-PERP-INTXlong	+0.0744%	1h	0.02548	long leg	$111K	$51K	50x
Kraken Futures PF_MONUSD	+0.0841%	1h	0.02543	−0.189%	$277K	$88K	10x	as long as short