Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0317%/8h= −34.8% APRpaid last 24h −0.219%

Price spread now: GRVT against Kraken Futures−0.511%7-day average −0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs−$183as in the Funding arb table

Net, price: spread back to 7d avg − costs−$180as in the Price arb table

costs, in and out, $10k−$1331.327% of the position

Long on Kraken Futures Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.498%−$50 on $10k

Price spread, last 3 days (all we have)+0.066%+$7 · spread now −0.511%, 7d avg −0.038%

Together, before fees−0.432%+ Points / potential airdropGRVT: Active · farm board−$43 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and GRVT is 0.473% cheaper against Kraken Futures than usual: you would sell low and buy high (−$47 if the spread goes back to its 7-day average of −0.038%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_MONUSD	0.02588	0.0417	pay 0.0052% / 1h	54m 24s	$272K	$78K	10x
Short	GRVT MON_USDT_Perp	0.02575	0.0100	get 0.0050% / 4h	54m 24s	$578K	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.511%Rate

Funding earned: −$66.67
Price spread: −0.511% → −0.038%: −$47.3
Slippage, 4 orders: −$113.75
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$246.72
Costs to cover: 1.327%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 23 min ago; GRVT: live order book, 9 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, 23 min ago	21.33 bp	32.6 bp −$33	7808.6 bp −$78.1K	doesn't fit	doesn't fit
Sell GRVT live order book, 9 min ago	1.95 bp	13.6 bp −$14	107.2 bp −$1,072	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	−0.0121%	1h	0.02575	−0.513%	$6K	$106	5.5x	as long as short
01 Exchange MONUSD	−0.0104%	1h	0.02584	−0.153%	$6K	$1K	5x	as long as short
Bybit MONUSDT	−0.0070%	8h	0.02583	−0.204%	$21.4M	$12.0M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02576	−0.493%	$13K	$360K	5x	as long as short
Perpl MON	0.0000%	43m	0.02585	−0.134%	$128K	$1.8M	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02588	−0.014%	$70K	$119K	25x	as long as short
Aftermath Perps MONUSD	+0.0026%	1h	0.02574	−0.546%	$2K	$74K	10x	as long as short
Orderly PERP_MON_USDC	+0.0066%	4h	0.02585	−0.126%	$17K	$64K	10x	as long as short
Paradex MON-USD-PERP	+0.0090%	8h	0.02581	−0.265%	$8K	$42	5x	as long as short
Variational Omni MON	+0.0091%	8h	0.02575	−0.507%	$777K	$408K	—	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MON	+0.0096%	1h	0.02585	−0.126%	$861K	$775K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02586	−0.084%	$34.9M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02586	−0.083%	$109K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02585	−0.133%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02585	−0.126%	$143K	$105K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02584	−0.165%	$24.6M	$25.0M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02585	−0.126%	$4.4M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02555	−1.285%	$107K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02586	−0.088%	$997K	$867K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02586	−0.088%	$2.8M	$1.8M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02586	−0.099%	$129K	$141K	10x	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02571	−0.650%	$47K	$243K	10x	as long as short
GRVT MON_USDT_Perpshort	+0.0100%	4h	0.02575	−0.511%	$578K	$1.5M	10x
ApeX Omni MONUSDT	+0.0100%	1h	0.02578	−0.397%	$69K	$482K	50x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02588	−0.025%	$396K	$546K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02586	−0.088%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02586	−0.105%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02587	−0.045%	$39K	—	3x	as long as short
KuCoin MONUSDTM	+0.0238%	4h	0.02589	+0.028%	$3.0M	$712K	75x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0598%	1h	0.02586	−0.080%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02586	−0.088%	$1.3M	$309K	75x	as long as short
Kraken Futures PF_MONUSDlong	+0.0417%	1h	0.02588	long leg	$272K	$78K	10x
Coinbase International MON-PERP-INTX	+0.0480%	1h	0.02594	+0.221%	$114K	$50K	50x	as long as short