Funding you earn now, next payment 22:00 UTC+0.0199%/8h= +21.8% APRnext payment +$0.25 per $10,000 · paid last 24h −0.039%
Price spread now: Backpack against Kraken Futures−0.074%7-day average −0.062% · you buy dearer than you sell
Net, funding: paid 7d − costs−$74as in the Funding arb table
Net, price: spread back to 7d avg − costs−$98as in the Price arb table
costs, in and out, $10k−$970.972% of the position
Funding, last 7 days+0.231%+$23 on $10k
+Price spread, last 3 days (all we have)−0.559%−$56 · spread now −0.074%, 7d avg −0.062%
=The price spread sits at its 7-day average of −0.062%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_MONUSD | 0.02601 | 0.0131 | pay 0.0016% / 1h | 58m 29s | $260K | $59K | 10x |
| Short | Backpack MON_USDC_PERP | 0.02599 | 0.0330 | get 0.0041% / 1h | 58m 29s | $137K | $137K | 10x |
Kraken Futures PF_MONUSD
Backpack MON_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Kraken Futures. 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
- $41.79
- Price spread: −0.074% → −0.062%
- −$1.22
- Slippage, 4 orders
- −$77.17
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$56.6
- Costs to cover
- 0.972%
- Break-even
- 16.5 days
Slippage from Kraken Futures: live order book, 29 min ago; Backpack: live order book, 29 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 Kraken Futures live order book, 29 min ago | 13.57 bp | 42.6 bp −$43 | 7970.5 bp −$79.7K | doesn't fit | doesn't fit |
| Sell Backpack live order book, 29 min ago | 0.97 bp | 12.2 bp −$12 | doesn't fit | 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 | −0.0739% | 1h | 0.02581 | −0.754% | $6K | $106 | 5.5x | as long as short |
| 01 Exchange MONUSD | −0.0200% | 1h | 0.02596 | −0.193% | $6K | $1K | 5x | as long as short |
| Bybit MONUSDT | 0.0000% | 8h | 0.02593 | −0.289% | $21.7M | $11.8M | 50x | as long as short |
| Phoenix MON | 0.0000% | 1h | 0.02602 | +0.042% | $14K | $371K | 5x | as long as short |
| Orderly PERP_MON_USDC | +0.0093% | 4h | 0.02599 | −0.062% | $17K | $64K | 10x | as long as short |
| Lighter MON | +0.0096% | 1h | 0.02600 | −0.024% | $852K | $753K | 10x | as long as short |
| Deribit MON_USDC-PERPETUAL | +0.0096% | 1h | 0.02600 | −0.031% | $64K | $103K | 25x | as long as short |
| Paradex MON-USD-PERP | +0.0099% | 8h | 0.02596 | −0.173% | $8K | $42 | 5x | as long as short |
| Nado MON-PERP | +0.0100% | 1h | 0.02598 | −0.110% | $346K | $536K | 10x | as long as short |
| Hyperliquid MON | +0.0100% | 1h | 0.02598 | −0.104% | $35.0M | $7.5M | 5x | as long as short |
Injective MON/USDC PERP
01 Exchange MONUSD
Bybit MONUSDT
Phoenix MON
Orderly PERP_MON_USDC
Lighter MON
Deribit MON_USDC-PERPETUAL
Paradex MON-USD-PERP
Nado MON-PERP
Hyperliquid MONShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster MONUSDT | +0.0100% | 4h | 0.02600 | −0.024% | $108K | $233K | 10x | as long as short |
| dYdX MON-USD | +0.0100% | 1h | 0.02600 | −0.037% | $13K | — | 5x | as long as short |
| Pacifica MON | +0.0100% | 1h | 0.02599 | −0.062% | $144K | $108K | 3x | as long as short |
| Binance MONUSDT | +0.0100% | 4h | 0.02596 | −0.180% | $24.7M | $24.6M | 75x | as long as short |
| OKX MON-USDT-SWAP | +0.0100% | 4h | 0.02594 | −0.254% | $4.4M | $6.1M | 50x | as long as short |
| Bulk MON-USD | +0.0100% | 1h | 0.02610 | +0.361% | $110K | $3K | 10x | as long as short |
| Gate MON_USDT | +0.0100% | 4h | 0.02599 | −0.062% | $1.0M | $923K | 50x | as long as short |
| Bitget MONUSDT | +0.0100% | 4h | 0.02598 | −0.101% | $2.8M | $1.8M | 25x | as long as short |
| Variational Omni MON | +0.0100% | 8h | 0.02602 | +0.035% | $779K | $403K | — | as long as short |
| edgeX MONUSDC | +0.0100% | 4h | 0.02604 | +0.136% | $48K | $243K | 10x | as long as short |
| GRVT MON_USDT_Perp | +0.0100% | 4h | 0.02605 | +0.169% | $584K | $1.5M | 10x | as long as short |
| ApeX Omni MONUSDT | +0.0100% | 1h | 0.02604 | +0.130% | $69K | $485K | 50x | as long as short |
| SoDEX MON-USD | +0.0100% | 1h | 0.02597 | −0.139% | $5K | $6K | 5x | as long as short |
| Extended MON-USD | +0.0104% | 1h | 0.02600 | −0.037% | $52K | $407K | 10x | as long as short |
| Aevo MON-PERP | +0.0104% | 1h | 0.02598 | −0.085% | $39K | — | 3x | as long as short |
| Kraken Futures PF_MONUSDlong | +0.0131% | 1h | 0.02601 | long leg | $260K | $59K | 10x | |
| BloFin MON-USDT | +0.0146% | 4h | 0.02598 | −0.101% | $1.4M | $247K | 75x | as long as short |
| GMX MON/USD [ETH-USDC] | L +0.0314% / S −0.1052% | 1h | 0.02599 | −0.081% | $14K | — | 50x | as long as short |
| Backpack MON_USDC_PERPshort | +0.0330% | 1h | 0.02599 | −0.074% | $137K | $137K | 10x | |
| KuCoin MONUSDTM | +0.0386% | 4h | 0.02601 | +0.015% | $3.2M | $790K | 75x | as long as short |
| Aftermath Perps MONUSD | +0.0425% | 1h | 0.02602 | +0.035% | $2K | $73K | 10x | as long as short |
| Perpl MON | +0.0447% | 43m | 0.02598 | −0.097% | $146K | $1.8M | 10x | as long as short |
| Coinbase International MON-PERP-INTX | +0.0648% | 1h | 0.02625 | +0.949% | $115K | $51K | 50x | as long as short |
Aster MONUSDT
dYdX MON-USD
Pacifica MON
Binance MONUSDT
OKX MON-USDT-SWAP
Bulk MON-USD
Gate MON_USDT
Bitget MONUSDT
Variational Omni MON
edgeX MONUSDC
GRVT MON_USDT_Perp
ApeX Omni MONUSDT
SoDEX MON-USD
Extended MON-USD
Aevo MON-PERP
BloFin MON-USDT
GMX MON/USD [ETH-USDC]
KuCoin MONUSDTM
Aftermath Perps MONUSD
Perpl MON
Coinbase International MON-PERP-INTX