Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.049%

Price spread now: Deribit against KuCoin−0.243%7-day average −0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$105as in the Funding arb table

Net, price: spread back to 7d avg − costs−$125as in the Price arb table

costs, in and out, $10k−$1051.054% of the position

Long on KuCoin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.007%+$1 on $10k

Price spread, last 4 days (all we have)+0.412%+$41 · spread now −0.243%, 7d avg −0.051%

Together, before fees+0.419%+$42 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.192% cheaper against KuCoin than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of −0.051%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MONUSDTM	0.02510	0.0100	pay 0.0050% / 4h	2h 16m	$2.9M	$764K	75x
Short	Deribit MON_USDC-PERPETUAL	0.02504	0	get 0.0000% / 1h	16m 38s	$74K	$135K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against KuCoin. 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 KuCoinbpFee DeribitbpOrdersPrice spread, now −0.243%Rate

Funding earned: −$21
Price spread: −0.243% → −0.051%: −$19.23
Slippage, 4 orders: −$86.43
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$145.67
Costs to cover: 1.054%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; Deribit: live order book, 7 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 KuCoin live order book, 5 min ago	12.02 bp	38.6 bp −$39	916.1 bp −$9,161	doesn't fit	doesn't fit
Sell Deribit live order book, 7 min ago	10.10 bp	13.6 bp −$14	doesn't fit	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
Backpack MON_USDC_PERP	−0.0107%	1h	0.02505	−0.191%	$114K	$154K	10x	as long as short
Bybit MONUSDT	−0.0011%	8h	0.02501	−0.359%	$20.5M	$13.7M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02499	−0.422%	$12K	$355K	5x	as long as short
Deribit MON_USDC-PERPETUALshort	0.0000%	1h	0.02504	−0.243%	$74K	$135K	25x
01 Exchange MONUSD	+0.0016%	1h	0.02507	−0.139%	$6K	$1K	5x	as long as short
Injective MON/USDC PERP	+0.0039%	1h	0.02489	−0.837%	$5K	$113	5.5x	as long as short
Orderly PERP_MON_USDC	+0.0083%	4h	0.02504	−0.239%	$16K	$48K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02504	−0.239%	$816K	$767K	10x	as long as short
Paradex MON-USD-PERP	+0.0099%	8h	0.02503	−0.273%	$8K	$42	5x	as long as short
Aftermath Perps MONUSD	+0.0100%	1h	0.02490	−0.795%	$6K	$92K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado MON-PERP	+0.0100%	1h	0.02507	−0.124%	$411K	$571K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02506	−0.151%	$33.6M	$7.6M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02505	−0.183%	$99K	$221K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02503	−0.281%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02504	−0.239%	$138K	$92K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02504	−0.239%	$23.8M	$27.5M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02502	−0.319%	$4.2M	$6.1M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02479	−1.215%	$102K	$1K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02504	−0.239%	$939K	$1.0M	50x	as long as short
KuCoin MONUSDTMlong	+0.0100%	4h	0.02510	long leg	$2.9M	$764K	75x
Bitget MONUSDT	+0.0100%	4h	0.02505	−0.199%	$2.7M	$2.3M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02488	−0.894%	$733K	$408K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02489	−0.853%	$41K	$251K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02502	−0.319%	$556K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02501	−0.359%	$68K	$530K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02503	−0.279%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02506	−0.167%	$47K	$283K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02503	−0.275%	$38K	—	3x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0230% / S −0.0246%	1h	0.02503	−0.283%	$6K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02506	−0.159%	$1.3M	$347K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02507	−0.139%	$114K	$2.2M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0456%	1h	0.02512	+0.076%	$110K	$54K	50x	as long as short
Kraken Futures PF_MONUSD	+0.1015%	1h	0.02507	−0.125%	$269K	$119K	10x	as long as short