Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0322%/8h= −35.3% APRpaid last 24h −0.195%

Price spread now: Binance against Kraken Futures+0.089%7-day average −0.096% · you sell dearer than you buy

Net, funding: paid 7d − costs−$142as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$920.923% of the position

Long on Kraken Futures Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.500%−$50 on $10k

Price spread, last 3 days (all we have)−0.370%−$37 · spread now +0.089%, 7d avg −0.096%

Together, before fees−0.870%−$87 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.185% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.089% now, against its 7-day average of −0.096%): +$18 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 46 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_MONUSD	0.02560	0.0422	pay 0.0053% / 1h	4m 45s	$269K	$78K	10x
Short	Binance MONUSDT	0.02562	0.0100	get 0.0050% / 4h	4m 45s	$24.5M	$25.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 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 Kraken FuturesbpFee BinancebpOrdersPrice spread, now +0.089%Rate

Funding earned: −$67.64
Price spread: +0.089% → −0.096%: $18.47
Slippage, 4 orders: −$72.29
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$141.47
Costs to cover: 0.923%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 8 min ago; Binance: live order book, 6 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, 8 min ago	17.59 bp	34.4 bp −$34	8258.4 bp −$82.6K	doesn't fit	doesn't fit
Sell Binance live order book, 6 min ago	1.96 bp	12.3 bp −$12	59.4 bp −$594	346.2 bp −$34.6K	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	−0.0121%	1h	0.02559	−0.035%	$6K	$109	5.5x	as long as short
01 Exchange MONUSD	−0.0096%	1h	0.02555	−0.183%	$6K	$1K	5x	as long as short
Bybit MONUSDT	−0.0034%	8h	0.02560	+0.012%	$21.1M	$12.1M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02558	−0.093%	$13K	$360K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02557	−0.109%	$69K	$119K	25x	as long as short
Orderly PERP_MON_USDC	+0.0070%	4h	0.02555	−0.191%	$17K	$64K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02564	+0.161%	$851K	$794K	10x	as long as short
Paradex MON-USD-PERP	+0.0097%	8h	0.02562	+0.084%	$8K	$42	5x	as long as short
Aftermath Perps MONUSD	+0.0100%	1h	0.02558	−0.069%	$3K	$75K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02560	−0.001%	$390K	$541K	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	0.02565	+0.204%	$34.7M	$7.6M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02559	−0.051%	$106K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02564	+0.148%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02563	+0.122%	$141K	$104K	3x	as long as short
Binance MONUSDTshort	+0.0100%	4h	0.02562	+0.089%	$24.5M	$25.5M	75x
OKX MON-USDT-SWAP	+0.0100%	4h	0.02560	+0.004%	$4.3M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02555	−0.192%	$107K	−$0	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02557	−0.113%	$976K	$913K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02564	+0.161%	$2.7M	$1.9M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02556	−0.136%	$127K	$141K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02554	−0.224%	$772K	$407K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02555	−0.190%	$47K	$244K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02560	+0.004%	$580K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02557	−0.113%	$68K	$482K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02556	−0.152%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02562	+0.097%	$51K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02556	−0.152%	$39K	—	3x	as long as short
KuCoin MONUSDTM	+0.0248%	4h	0.02560	+0.004%	$3.0M	$718K	75x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0598%	1h	0.02557	−0.117%	$8K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02554	−0.230%	$1.3M	$306K	75x	as long as short
Kraken Futures PF_MONUSDlong	+0.0422%	1h	0.02560	long leg	$269K	$78K	10x
Perpl MON	+0.0447%	43m	0.02558	−0.085%	$125K	$1.8M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0480%	1h	0.02609	+1.915%	$115K	$50K	50x	as long as short