Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0743%/8h= −81.3% APRpaid last 24h −0.120%

Price spread now: KuCoin against Kraken Futures+0.053%7-day average −0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$211as in the Funding arb table

Net, price: spread back to 7d avg − costs−$149as in the Price arb table

costs, in and out, $10k−$1551.554% of the position

Long on Kraken Futures Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.555%−$56 on $10k

Price spread, last 3 days (all we have)−0.246%−$25 · spread now +0.053%, 7d avg −0.010%

Together, before fees−0.801%−$80 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.063% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.053% now, against its 7-day average of −0.010%): +$6 on $10k if it goes back. Holding the pair costs −$22 a day in funding at the current rate, which eats that in about 7 hours. At the pace of the last 7 days (−0.555% in total) that is about 19 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_MONUSD	0.02539	0.0843	pay 0.0105% / 1h	4m 38s	$267K	$97K	10x
Short	KuCoin MONUSDTM	0.02540	0.0100	get 0.0050% / 4h	2h 04m	$2.9M	$743K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.053%Rate

Funding earned: −$155.94
Price spread: +0.053% → −0.010%: $6.25
Slippage, 4 orders: −$133.39
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$305.08
Costs to cover: 1.554%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 63 min ago; KuCoin: 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, 63 min ago	21.19 bp	30.1 bp −$30	7786.1 bp −$77.9K	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	13.78 bp	44.8 bp −$45	440.8 bp −$4,408	doesn't fit	doesn't fit

MON on 32 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	−0.0388%	1h	0.02546	+0.289%	$6K	$109	5.5x	as long as short
Bybit MONUSDT	−0.0093%	8h	0.02540	+0.053%	$20.9M	$12.8M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02538	−0.042%	$13K	$349K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02538	−0.030%	$68K	$125K	25x	as long as short
01 Exchange MONUSD	+0.0024%	1h	0.02542	+0.136%	$6K	$1K	5x	as long as short
Orderly PERP_MON_USDC	+0.0075%	4h	0.02538	−0.026%	$16K	$51K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02542	+0.132%	$847K	$743K	10x	as long as short
Paradex MON-USD-PERP	+0.0098%	8h	0.02539	0.000%	$8K	$42	5x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02540	+0.049%	$34.4M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02539	+0.032%	$102K	$229K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX MON-USD	+0.0100%	1h	0.02540	+0.058%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02540	+0.037%	$141K	$104K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02539	+0.014%	$24.2M	$26.0M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02539	+0.014%	$4.2M	$5.8M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02531	−0.316%	$105K	$4K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02539	+0.014%	$949K	$906K	50x	as long as short
KuCoin MONUSDTMshort	+0.0100%	4h	0.02540	+0.053%	$2.9M	$743K	75x
Bitget MONUSDT	+0.0100%	4h	0.02541	+0.092%	$2.7M	$2.0M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02538	−0.014%	$118K	$156K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02536	−0.102%	$754K	$405K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02538	−0.035%	$43K	$248K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02537	−0.064%	$568K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02540	+0.053%	$68K	$497K	50x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02539	+0.023%	$407K	$545K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02537	−0.065%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02543	+0.185%	$49K	$517K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02536	−0.085%	$38K	—	3x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02537	−0.069%	$9K	—	50x	as long as short
Aftermath Perps MONUSD	+0.0296%	1h	0.02542	+0.137%	$2K	$79K	10x	as long as short
Perpl MON	+0.0447%	43m	0.02538	−0.038%	$106K	$2.3M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0744%	1h	0.02556	+0.675%	$112K	$52K	50x	as long as short
Kraken Futures PF_MONUSDlong	+0.0843%	1h	0.02539	long leg	$267K	$97K	10x