Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0917%/8h= +100.4% APRpaid last 24h +0.188%

Price spread now: Kraken Futures against edgeX+0.590%7-day average +0.135% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$1051.050% of the position

Long on edgeX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.605%+$60 on $10k

Price spread, last 4 days (all we have)−0.039%−$4 · spread now +0.590%, 7d avg +0.135%

Together, before fees+0.566%+ Points / potential airdropedgeX: Active · farm board+$57 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$27 a day on $10k at the current rate, and Kraken Futures is 0.454% dearer against edgeX than usual: you sell high and buy low: +$45 more if the spread goes back to its 7-day average of +0.135%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.605% in total (about 31.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX MONUSDC	0.02489	0.0100	pay 0.0050% / 4h	2h 19m	$41K	$251K	10x
Short	Kraken Futures PF_MONUSD	0.02503	0.1017	get 0.0127% / 1h	19m 16s	$269K	$119K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against edgeX. 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 edgeXbpFee Kraken FuturesbpOrdersPrice spread, now +0.590%Rate

Funding earned: $192.5
Price spread: +0.590% → +0.135%: $45.43
Slippage, 4 orders: −$86.01
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $132.92
Costs to cover: 1.050%
Break-even: 2.2 days

Slippage from edgeX: live order book, 28 min ago; Kraken Futures: live order book, 28 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 edgeX live order book, 28 min ago	10.03 bp	22.3 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 28 min ago	20.01 bp	32.2 bp −$32	439.2 bp −$4,392	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	−0.0117%	1h	0.02501	+0.502%	$116K	$154K	10x	as long as short
Bybit MONUSDT	−0.0017%	8h	0.02499	+0.422%	$20.5M	$13.7M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02477	−0.462%	$12K	$355K	5x	as long as short
01 Exchange MONUSD	+0.0008%	1h	0.02502	+0.531%	$6K	$1K	5x	as long as short
Deribit MON_USDC-PERPETUAL	+0.0030%	1h	0.02501	+0.519%	$74K	$135K	25x	as long as short
Injective MON/USDC PERP	+0.0039%	1h	0.02489	+0.016%	$5K	$113	5.5x	as long as short
Orderly PERP_MON_USDC	+0.0083%	4h	0.02501	+0.498%	$16K	$48K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02500	+0.458%	$817K	$765K	10x	as long as short
Paradex MON-USD-PERP	+0.0099%	8h	0.02499	+0.402%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02502	+0.539%	$410K	$571K	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	0.02503	+0.571%	$33.5M	$7.6M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02501	+0.501%	$99K	$221K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02498	+0.375%	$12K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02500	+0.462%	$138K	$92K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02501	+0.498%	$23.8M	$27.4M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02500	+0.458%	$4.2M	$6.1M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02479	−0.366%	$102K	$1K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02501	+0.498%	$935K	$1.0M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02501	+0.498%	$2.9M	$764K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02501	+0.498%	$2.7M	$2.2M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02488	−0.041%	$733K	$408K	—	as long as short
edgeX MONUSDClong	+0.0100%	4h	0.02489	long leg	$41K	$251K	10x
GRVT MON_USDT_Perp	+0.0100%	4h	0.02477	−0.467%	$550K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02476	−0.506%	$67K	$529K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02501	+0.498%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02504	+0.601%	$47K	$283K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02504	+0.603%	$38K	—	3x	as long as short
Aftermath Perps MONUSD	+0.0119%	1h	0.02485	−0.159%	$10K	$87K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0230% / S −0.0246%	1h	0.02501	+0.502%	$6K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02487	−0.064%	$1.3M	$348K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02500	+0.478%	$114K	$2.2M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0456%	1h	0.02530	+1.664%	$110K	$54K	50x	as long as short
Kraken Futures PF_MONUSDshort	+0.1017%	1h	0.02503	+0.590%	$269K	$119K	10x