Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0048%/8h= −5.2% APRpaid last 24h −0.197%

Price spread now: BloFin against Kraken Futures−0.177%7-day average −0.062% · you buy dearer than you sell

Net, funding: paid 7d − costs−$139as in the Funding arb table

Net, price: spread back to 7d avg − costs−$120as in the Price arb table

costs, in and out, $10k−$1081.085% of the position

Long on Kraken Futures Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.306%−$31 on $10k

Price spread, last 3 days (all we have)+0.198%+$20 · spread now −0.177%, 7d avg −0.062%

Together, before fees−0.109%−$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BloFin is 0.114% cheaper against Kraken Futures than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.062%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_MONUSD	0.02602	0.0131	pay 0.0016% / 1h	25m 09s	$268K	$67K	10x
Short	BloFin MON-USDT	0.02597	0.0083	get 0.0042% / 4h	2h 25m	$1.4M	$245K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.177%Rate

Funding earned: −$10.01
Price spread: −0.177% → −0.062%: −$11.45
Slippage, 4 orders: −$86.49
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$129.94
Costs to cover: 1.085%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 62 min ago; BloFin: 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, 62 min ago	13.57 bp	42.6 bp −$43	7970.5 bp −$79.7K	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	5.79 bp	16.7 bp −$17	47.8 bp −$478	180.4 bp −$18.0K	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	0.02596	−0.215%	$6K	$109	5.5x	as long as short
01 Exchange MONUSD	−0.0248%	1h	0.02597	−0.162%	$6K	$1K	5x	as long as short
Bybit MONUSDT	−0.0004%	8h	0.02594	−0.288%	$21.6M	$11.8M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02594	−0.288%	$13K	$384K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02598	−0.158%	$63K	$110K	25x	as long as short
BloFin MON-USDTshort	+0.0083%	4h	0.02597	−0.177%	$1.4M	$245K	75x
Orderly PERP_MON_USDC	+0.0091%	4h	0.02595	−0.254%	$17K	$64K	10x	as long as short
Paradex MON-USD-PERP	+0.0095%	8h	0.02595	−0.238%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02597	−0.177%	$851K	$753K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02599	−0.116%	$374K	$527K	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	0.02599	−0.108%	$35.0M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02597	−0.182%	$108K	$233K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02597	−0.171%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02597	−0.177%	$143K	$106K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02596	−0.215%	$24.6M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02594	−0.292%	$4.4M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02600	−0.062%	$109K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02598	−0.138%	$1.0M	$934K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02598	−0.138%	$2.8M	$1.8M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02596	−0.219%	$777K	$407K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02592	−0.368%	$48K	$242K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02594	−0.273%	$584K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02594	−0.292%	$69K	$480K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02596	−0.215%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02598	−0.134%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02595	−0.254%	$39K	—	3x	as long as short
Kraken Futures PF_MONUSDlong	+0.0131%	1h	0.02602	long leg	$268K	$67K	10x
Aftermath Perps MONUSD	+0.0198%	1h	0.02595	−0.256%	$2K	$73K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02597	−0.162%	$9K	—	50x	as long as short
Backpack MON_USDC_PERP	+0.0276%	1h	0.02597	−0.162%	$137K	$136K	10x	as long as short
KuCoin MONUSDTM	+0.0352%	4h	0.02602	+0.015%	$3.2M	$745K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02596	−0.219%	$145K	$1.8M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0648%	1h	0.02600	−0.077%	$114K	$49K	50x	as long as short