Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.046%

Price spread now: KuCoin against Deribit+0.056%7-day average +0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs−$97as in the Price arb table

costs, in and out, $10k−$980.982% of the position

Long on Deribit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.007%−$1 on $10k

Price spread, last 4 days (all we have)−0.251%−$25 · spread now +0.056%, 7d avg +0.047%

Together, before fees−0.259%−$26 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.047%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MON_USDC-PERPETUAL	0.02500	0	get 0.0000% / 1h	57m 09s	$73K	$136K	25x
Short	KuCoin MONUSDTM	0.02501	0.0100	get 0.0050% / 4h	2h 57m	$2.9M	$762K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Deribit. 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 DeribitbpFee KuCoinbpOrdersPrice spread, now +0.056%Rate

Funding earned: $21
Price spread: +0.056% → +0.047%: $0.91
Slippage, 4 orders: −$79.19
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$76.28
Costs to cover: 0.982%
Break-even: 32.4 days

Slippage from Deribit: live order book, 32 min ago; KuCoin: live order book, 5 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 Deribit live order book, 32 min ago	6.33 bp	17.0 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	4.00 bp	47.6 bp −$48	450.7 bp −$4,507	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
Backpack MON_USDC_PERP	−0.0072%	1h	0.02501	+0.052%	$110K	$153K	10x	as long as short
Phoenix MON	0.0000%	1h	0.02497	−0.108%	$12K	$355K	5x	as long as short
Deribit MON_USDC-PERPETUALlong	0.0000%	1h	0.02500	long leg	$73K	$136K	25x
Bybit MONUSDT	+0.0013%	8h	0.02496	−0.132%	$20.5M	$13.5M	50x	as long as short
Injective MON/USDC PERP	+0.0039%	1h	0.02515	+0.616%	$5K	$110	5.5x	as long as short
Orderly PERP_MON_USDC	+0.0082%	4h	0.02499	−0.024%	$16K	$48K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02501	+0.056%	$839K	$732K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02496	−0.129%	$8K	$42	5x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02500	+0.032%	$33.6M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02498	−0.050%	$100K	$218K	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	0.02495	−0.173%	$12K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02496	−0.152%	$138K	$92K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02498	−0.050%	$23.8M	$27.0M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02498	−0.064%	$4.2M	$6.1M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02500	+0.016%	$103K	$1K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02498	−0.064%	$933K	$984K	50x	as long as short
KuCoin MONUSDTMshort	+0.0100%	4h	0.02501	+0.056%	$2.9M	$762K	75x
Bitget MONUSDT	+0.0100%	4h	0.02499	−0.024%	$2.7M	$2.2M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02492	−0.321%	$739K	$403K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02493	−0.264%	$41K	$251K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02497	−0.113%	$562K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02492	−0.304%	$68K	$523K	50x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02501	+0.052%	$406K	$587K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02499	−0.024%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02501	+0.049%	$48K	$285K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02499	−0.044%	$38K	—	3x	as long as short
01 Exchange MONUSD	+0.0112%	1h	0.02499	−0.008%	$6K	$1K	5x	as long as short
Aftermath Perps MONUSD	+0.0248%	1h	0.02497	−0.106%	$2K	$78K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0259% / S −0.0429%	1h	0.02499	−0.016%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02492	−0.304%	$1.3M	$337K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02500	+0.028%	$114K	$2.2M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0456%	1h	0.02530	+1.216%	$110K	$55K	50x	as long as short
Kraken Futures PF_MONUSD	+0.1017%	1h	0.02502	+0.080%	$269K	$112K	10x	as long as short