Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.209%

Price spread now: Bitget against Kraken Futures+0.044%7-day average −0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$175as in the Funding arb table

Net, price: spread back to 7d avg − costs−$113as in the Price arb table

costs, in and out, $10k−$1231.230% of the position

Long on Kraken Futures Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.524%−$52 on $10k

Price spread, last 3 days (all we have)−0.648%−$65 · spread now +0.044%, 7d avg −0.055%

Together, before fees−1.171%−$117 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.099% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.044% now, against its 7-day average of −0.055%): +$10 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 10 days. At the pace of the last 7 days (−0.524% in total) that is about 32 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_MONUSD	0.02578	0.0132	pay 0.0017% / 1h	50m 40s	$262K	$63K	10x
Short	Bitget MONUSDT	0.02579	0.0100	get 0.0050% / 4h	2h 50m	$2.7M	$1.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.044%Rate

Funding earned: −$6.75
Price spread: +0.044% → −0.055%: $9.87
Slippage, 4 orders: −$100.96
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$119.84
Costs to cover: 1.230%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 37 min ago; Bitget: live order book, 2 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, 37 min ago	13.57 bp	42.6 bp −$43	7970.5 bp −$79.7K	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	7.76 bp	27.9 bp −$28	78.3 bp −$783	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	0.02587	+0.354%	$6K	$107	5.5x	as long as short
01 Exchange MONUSD	−0.0128%	1h	0.02573	−0.178%	$6K	$1K	5x	as long as short
Phoenix MON	0.0000%	1h	0.02574	−0.166%	$13K	$384K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02577	−0.030%	$62K	$110K	25x	as long as short
Bybit MONUSDT	+0.0002%	8h	0.02577	−0.034%	$21.5M	$11.8M	50x	as long as short
Orderly PERP_MON_USDC	+0.0092%	4h	0.02575	−0.112%	$17K	$64K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02579	+0.044%	$845K	$753K	10x	as long as short
Paradex MON-USD-PERP	+0.0099%	8h	0.02578	+0.012%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02578	−0.013%	$347K	$535K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02581	+0.102%	$34.8M	$7.5M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster MONUSDT	+0.0100%	4h	0.02578	+0.020%	$107K	$233K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02580	+0.078%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02579	+0.044%	$142K	$108K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02578	+0.005%	$24.5M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02576	−0.073%	$4.4M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02575	−0.112%	$108K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02578	+0.005%	$999K	$926K	50x	as long as short
Bitget MONUSDTshort	+0.0100%	4h	0.02579	+0.044%	$2.7M	$1.8M	25x
Variational Omni MON	+0.0100%	8h	0.02579	+0.062%	$775K	$403K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02576	−0.088%	$47K	$242K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02587	+0.372%	$582K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02576	−0.073%	$69K	$482K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02575	−0.112%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02581	+0.122%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02575	−0.131%	$39K	—	3x	as long as short
BloFin MON-USDT	+0.0123%	4h	0.02572	−0.228%	$1.4M	$241K	75x	as long as short
Kraken Futures PF_MONUSDlong	+0.0132%	1h	0.02578	long leg	$262K	$63K	10x
Backpack MON_USDC_PERP	+0.0179%	1h	0.02577	−0.018%	$136K	$138K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0313% / S −0.1052%	1h	0.02576	−0.057%	$13K	—	50x	as long as short
KuCoin MONUSDTM	+0.0356%	4h	0.02579	+0.044%	$3.1M	$790K	75x	as long as short
Aftermath Perps MONUSD	+0.0411%	1h	0.02585	+0.294%	$2K	$73K	10x	as long as short
Perpl MON	+0.0447%	43m	0.02574	−0.135%	$144K	$1.8M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0648%	1h	0.02625	+1.840%	$115K	$51K	50x	as long as short