Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h −0.116%
Price spread now: Phoenix against Hyperliquid−0.395%7-day average −0.072% · you buy dearer than you sell
Net, funding: paid 7d − costs−$95as in the Funding arb table
Net, price: spread back to 7d avg − costs−$85as in the Price arb table
costs, in and out, $10k−$530.525% of the position
Funding, last 7 days−0.427%−$43 on $10k
+Price spread, last 3 days (all we have)+0.536%+$54 · spread now −0.395%, 7d avg −0.072%
=Together, before fees+0.109%+ Points / potential airdropHyperliquid: Season 2 · farm board+$11 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Phoenix is 0.323% cheaper against Hyperliquid than usual: you would sell low and buy high (−$32 if the spread goes back to its 7-day average of −0.072%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid MON | 0.02585 | 0.0100 | pay 0.0013% / 1h | 24m 34s | $35.0M | $7.4M | 5x |
| Short | Phoenix MON | 0.02575 | 0 | get 0.0000% / 1h | 24m 34s | $13K | $362K | 5x |
Hyperliquid MON
Phoenix MONFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Hyperliquid. 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: −0.395% → −0.072%
- −$32.27
- Slippage, 4 orders
- −$36.54
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$105.81
- Costs to cover
- 0.525%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 9 min ago; Phoenix: live order book, 57 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 Hyperliquid live order book, 9 min ago | 0.39 bp | 10.9 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 57 min ago | 1.15 bp | 13.2 bp −$13 | 44.6 bp −$446 | 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 | −0.112% | $6K | $108 | 5.5x | as long as short |
| Bybit MONUSDT | −0.0053% | 8h | 0.02576 | −0.344% | $21.4M | $11.8M | 50x | as long as short |
| 01 Exchange MONUSD | −0.0024% | 1h | 0.02582 | −0.120% | $6K | $1K | 5x | as long as short |
| Phoenix MONshort | 0.0000% | 1h | 0.02575 | −0.395% | $13K | $362K | 5x | |
| Perpl MON | 0.0000% | 43m | 0.02578 | −0.275% | $143K | $1.8M | 10x | as long as short |
| Deribit MON_USDC-PERPETUAL | 0.0000% | 1h | 0.02579 | −0.240% | $70K | $119K | 25x | as long as short |
| Aftermath Perps MONUSD | +0.0039% | 1h | 0.02578 | −0.278% | $2K | $73K | 10x | as long as short |
| Orderly PERP_MON_USDC | +0.0067% | 4h | 0.02576 | −0.344% | $17K | $64K | 10x | as long as short |
| Paradex MON-USD-PERP | +0.0082% | 8h | 0.02578 | −0.248% | $8K | $42 | 5x | as long as short |
| Lighter MON | +0.0096% | 1h | 0.02582 | −0.112% | $855K | $773K | 10x | as long as short |
Injective MON/USDC PERP
Bybit MONUSDT
01 Exchange MONUSD
Perpl MON
Deribit MON_USDC-PERPETUAL
Aftermath Perps MONUSD
Orderly PERP_MON_USDC
Paradex MON-USD-PERP
Lighter MONShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado MON-PERP | +0.0100% | 1h | 0.02577 | −0.304% | $388K | $539K | 10x | as long as short |
| Hyperliquid MONlong | +0.0100% | 1h | 0.02585 | long leg | $35.0M | $7.4M | 5x | |
| Aster MONUSDT | +0.0100% | 4h | 0.02579 | −0.233% | $108K | $231K | 10x | as long as short |
| dYdX MON-USD | +0.0100% | 1h | 0.02579 | −0.224% | $13K | — | 5x | as long as short |
| Pacifica MON | +0.0100% | 1h | 0.02581 | −0.155% | $142K | $107K | 3x | as long as short |
| Binance MONUSDT | +0.0100% | 4h | 0.02579 | −0.225% | $24.5M | $24.6M | 75x | as long as short |
| OKX MON-USDT-SWAP | +0.0100% | 4h | 0.02576 | −0.344% | $4.4M | $5.9M | 50x | as long as short |
| Bulk MON-USD | +0.0100% | 1h | 0.02570 | −0.576% | $108K | $3K | 10x | as long as short |
| Gate MON_USDT | +0.0100% | 4h | 0.02579 | −0.228% | $1.0M | $872K | 50x | as long as short |
| Bitget MONUSDT | +0.0100% | 4h | 0.02580 | −0.190% | $2.7M | $1.8M | 25x | as long as short |
| Backpack MON_USDC_PERP | +0.0100% | 1h | 0.02579 | −0.236% | $138K | $134K | 10x | as long as short |
| Variational Omni MON | +0.0100% | 8h | 0.02573 | −0.473% | $780K | $407K | — | as long as short |
| edgeX MONUSDC | +0.0100% | 4h | 0.02573 | −0.463% | $47K | $242K | 10x | as long as short |
| GRVT MON_USDT_Perp | +0.0100% | 4h | 0.02576 | −0.346% | $578K | $1.5M | 10x | as long as short |
| ApeX Omni MONUSDT | +0.0100% | 1h | 0.02574 | −0.422% | $69K | $479K | 50x | as long as short |
| SoDEX MON-USD | +0.0100% | 1h | 0.02578 | −0.267% | $5K | $6K | 5x | as long as short |
| Extended MON-USD | +0.0104% | 1h | 0.02583 | −0.056% | $52K | $407K | 10x | as long as short |
| Aevo MON-PERP | +0.0104% | 1h | 0.02577 | −0.286% | $39K | — | 3x | as long as short |
| Kraken Futures PF_MONUSD | +0.0173% | 1h | 0.02581 | −0.132% | $271K | $77K | 10x | as long as short |
| GMX MON/USD [ETH-USDC] | L +0.0260% / S −0.0598% | 1h | 0.02579 | −0.240% | $9K | — | 50x | as long as short |
| KuCoin MONUSDTM | +0.0302% | 4h | 0.02583 | −0.074% | $3.2M | $697K | 75x | as long as short |
| BloFin MON-USDT | +0.0340% | 4h | 0.02575 | −0.383% | $1.4M | $293K | 75x | as long as short |
| Coinbase International MON-PERP-INTX | +0.0536% | 1h | 0.02607 | +0.843% | $114K | $49K | 50x | as long as short |
Nado MON-PERP
Aster MONUSDT
dYdX MON-USD
Pacifica MON
Binance MONUSDT
OKX MON-USDT-SWAP
Bulk MON-USD
Gate MON_USDT
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
Kraken Futures PF_MONUSD
GMX MON/USD [ETH-USDC]
KuCoin MONUSDTM
BloFin MON-USDT
Coinbase International MON-PERP-INTX