Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0073%/8h= +8.0% APRpaid last 24h +0.219%

Price spread now: Kraken Futures against GRVT+0.149%7-day average +0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$124as in the Funding arb table

Net, price: spread back to 7d avg − costs−$163as in the Price arb table

costs, in and out, $10k−$1741.739% of the position

Long on GRVT Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.498%+$50 on $10k

Price spread, last 3 days (all we have)+0.295%+$30 · spread now +0.149%, 7d avg +0.038%

Together, before fees+0.793%+ Points / potential airdropGRVT: Active · farm board+$79 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Kraken Futures is 0.111% dearer against GRVT than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT MON_USDT_Perp	0.02578	0.0100	pay 0.0050% / 4h	1h 21m	$578K	$1.5M	10x
Short	Kraken Futures PF_MONUSD	0.02582	0.0173	get 0.0022% / 1h	21m 16s	$271K	$78K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against GRVT. 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 GRVTbpFee Kraken FuturesbpOrdersPrice spread, now +0.149%Rate

Funding earned: $15.43
Price spread: +0.149% → +0.038%: $11.14
Slippage, 4 orders: −$154.92
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$147.35
Costs to cover: 1.739%
Break-even: 73.8 days

Slippage from GRVT: live order book, 2 min ago; Kraken Futures: live order book, 61 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 GRVT live order book, 2 min ago	1.94 bp	61.4 bp −$61	744.6 bp −$7,446	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 61 min ago	28.77 bp	42.5 bp −$43	634.0 bp −$6,340	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	−0.0053%	1h	0.02582	+0.167%	$6K	$108	5.5x	as long as short
Bybit MONUSDT	−0.0053%	8h	0.02575	−0.104%	$21.4M	$11.8M	50x	as long as short
01 Exchange MONUSD	−0.0008%	1h	0.02582	+0.167%	$6K	$1K	5x	as long as short
Phoenix MON	0.0000%	1h	0.02577	−0.042%	$13K	$362K	5x	as long as short
Perpl MON	0.0000%	43m	0.02580	+0.082%	$143K	$1.8M	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02579	+0.070%	$70K	$119K	25x	as long as short
Aftermath Perps MONUSD	+0.0021%	1h	0.02578	+0.006%	$2K	$73K	10x	as long as short
Orderly PERP_MON_USDC	+0.0067%	4h	0.02577	−0.027%	$17K	$64K	10x	as long as short
Paradex MON-USD-PERP	+0.0083%	8h	0.02578	+0.019%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02580	+0.090%	$855K	$773K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado MON-PERP	+0.0100%	1h	0.02584	+0.242%	$389K	$539K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02582	+0.183%	$34.9M	$7.4M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02579	+0.040%	$108K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02579	+0.060%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02580	+0.086%	$142K	$107K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02578	+0.015%	$24.5M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02575	−0.104%	$4.4M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02570	−0.298%	$108K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02578	+0.012%	$1.0M	$872K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02580	+0.090%	$2.7M	$1.8M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02578	+0.020%	$128K	$142K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02573	−0.194%	$780K	$407K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02575	−0.115%	$47K	$242K	10x	as long as short
GRVT MON_USDT_Perplong	+0.0100%	4h	0.02578	long leg	$578K	$1.5M	10x
ApeX Omni MONUSDT	+0.0100%	1h	0.02578	+0.012%	$69K	$480K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02578	+0.012%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02582	+0.172%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02578	+0.020%	$39K	—	3x	as long as short
Kraken Futures PF_MONUSDshort	+0.0173%	1h	0.02582	+0.149%	$271K	$78K	10x
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0598%	1h	0.02579	+0.055%	$9K	—	50x	as long as short
KuCoin MONUSDTM	+0.0292%	4h	0.02583	+0.206%	$3.2M	$698K	75x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02577	−0.027%	$1.4M	$293K	75x	as long as short
Coinbase International MON-PERP-INTX	+0.0536%	1h	0.02607	+1.125%	$114K	$49K	50x	as long as short