Funding you earn now, next payment 21:00 UTC−0.0340%/8h= −37.2% APRpaid last 24h −0.052%
Price spread now: Phoenix against KuCoin+0.135%78s7-day average −0.036% · you sell dearer than you buy
Net, funding: paid 7d − costs−$124as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1011.009% of the position
Funding, last 7 days−0.230%−$23 on $10k
+Price spread, last 3 days (all we have)+0.145%+$15 · spread now +0.135%, 7d avg −0.036%
=The price spread pays, funding is against you. Phoenix is 0.171% dearer against KuCoin than usual: you sell high and buy low (spread +0.135% now, against its 7-day average of −0.036%): +$17 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 40 hours. At the pace of the last 7 days (−0.230% in total) that is about 5.2 days. The two prices were read 78 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.230% in total (about -12.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin MONUSDTM | 0.02594 | 0.0340 | pay 0.0170% / 4h | 2h 30m | $3.2M | $745K | 75x |
| Short | Phoenix MON | 0.02598 | 0 | get 0.0000% / 1h | 30m 04s | $14K | $384K | 5x |
KuCoin MONUSDTM
Phoenix MONFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against KuCoin. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$71.4
- Price spread: +0.135% → −0.036%
- $17.05
- Slippage, 4 orders
- −$81.94
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$155.29
- Costs to cover
- 1.009%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 2 min ago; Phoenix: live order book, 56 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, 2 min ago | 13.43 bp | 40.4 bp −$40 | 673.1 bp −$6,731 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 56 min ago | 1.16 bp | 12.9 bp −$13 | 44.4 bp −$444 | 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 | 0.02596 | +0.077% | $6K | $109 | 5.5x | as long as short |
| Deribit MON_USDC-PERPETUAL | −0.0251% | 1h | 0.02593 | −0.050% | $63K | $110K | 25x | as long as short |
| 01 Exchange MONUSD | −0.0248% | 1h | 0.02589 | −0.189% | $6K | $1K | 5x | as long as short |
| Bybit MONUSDT | −0.0004% | 8h | 0.02588 | −0.235% | $21.6M | $11.8M | 50x | as long as short |
| Phoenix MONshort | 0.0000% | 1h | 0.02598 | +0.135% | $14K | $384K | 5x | |
| Orderly PERP_MON_USDC | +0.0092% | 4h | 0.02591 | −0.116% | $17K | $64K | 10x | as long as short |
| BloFin MON-USDT | +0.0093% | 4h | 0.02599 | +0.193% | $1.4M | $246K | 75x | as long as short |
| Paradex MON-USD-PERP | +0.0095% | 8h | 0.02591 | −0.104% | $8K | $42 | 5x | as long as short |
| Lighter MON | +0.0096% | 1h | 0.02592 | −0.077% | $849K | $753K | 10x | as long as short |
| Nado MON-PERP | +0.0100% | 1h | 0.02595 | +0.035% | $375K | $527K | 10x | as long as short |
Injective MON/USDC PERP
Deribit MON_USDC-PERPETUAL
01 Exchange MONUSD
Bybit MONUSDT
Orderly PERP_MON_USDC
BloFin MON-USDT
Paradex MON-USD-PERP
Lighter MON
Nado MON-PERPShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid MON | +0.0100% | 1h | 0.02593 | −0.027% | $35.0M | $7.5M | 5x | as long as short |
| Aster MONUSDT | +0.0100% | 4h | 0.02592 | −0.094% | $108K | $233K | 10x | as long as short |
| dYdX MON-USD | +0.0100% | 1h | 0.02597 | +0.112% | $13K | — | 5x | as long as short |
| Pacifica MON | +0.0100% | 1h | 0.02593 | −0.039% | $143K | $107K | 3x | as long as short |
| Binance MONUSDT | +0.0100% | 4h | 0.02590 | −0.154% | $24.6M | $24.6M | 75x | as long as short |
| OKX MON-USDT-SWAP | +0.0100% | 4h | 0.02589 | −0.193% | $4.4M | $6.0M | 50x | as long as short |
| Bulk MON-USD | +0.0100% | 1h | 0.02600 | +0.231% | $109K | $3K | 10x | as long as short |
| Gate MON_USDT | +0.0100% | 4h | 0.02592 | −0.077% | $1.0M | $933K | 50x | as long as short |
| Bitget MONUSDT | +0.0100% | 4h | 0.02595 | +0.039% | $2.8M | $1.8M | 25x | as long as short |
| Variational Omni MON | +0.0100% | 8h | 0.02593 | −0.024% | $778K | $407K | — | as long as short |
| edgeX MONUSDC | +0.0100% | 4h | 0.02597 | +0.116% | $48K | $243K | 10x | as long as short |
| GRVT MON_USDT_Perp | +0.0100% | 4h | 0.02598 | +0.154% | $583K | $1.5M | 10x | as long as short |
| ApeX Omni MONUSDT | +0.0100% | 1h | 0.02597 | +0.116% | $69K | $482K | 50x | as long as short |
| SoDEX MON-USD | +0.0100% | 1h | 0.02590 | −0.154% | $5K | $6K | 5x | as long as short |
| Extended MON-USD | +0.0104% | 1h | 0.02595 | +0.023% | $52K | $407K | 10x | as long as short |
| Aevo MON-PERP | +0.0104% | 1h | 0.02591 | −0.127% | $39K | — | 3x | as long as short |
| Kraken Futures PF_MONUSD | +0.0131% | 1h | 0.02595 | +0.043% | $267K | $67K | 10x | as long as short |
| Backpack MON_USDC_PERP | +0.0226% | 1h | 0.02591 | −0.100% | $137K | $137K | 10x | as long as short |
| Aftermath Perps MONUSD | +0.0228% | 1h | 0.02595 | +0.032% | $2K | $73K | 10x | as long as short |
| GMX MON/USD [ETH-USDC] | L +0.0261% / S −0.0598% | 1h | 0.02593 | −0.035% | $9K | — | 50x | as long as short |
| KuCoin MONUSDTMlong | +0.0340% | 4h | 0.02594 | long leg | $3.2M | $745K | 75x | |
| Perpl MON | +0.0447% | 43m | 0.02592 | −0.069% | $145K | $1.8M | 10x | as long as short |
| Coinbase International MON-PERP-INTX | +0.0648% | 1h | 0.02609 | +0.574% | $115K | $49K | 50x | as long as short |
Hyperliquid MON
Aster MONUSDT
dYdX MON-USD
Pacifica MON
Binance MONUSDT
OKX MON-USDT-SWAP
Bulk MON-USD
Gate MON_USDT
Bitget MONUSDT
Variational Omni MON
edgeX MONUSDC
GRVT MON_USDT_Perp
ApeX Omni MONUSDT
SoDEX MON-USD
Extended MON-USD
Aevo MON-PERP
Kraken Futures PF_MONUSD
Backpack MON_USDC_PERP
Aftermath Perps MONUSD
GMX MON/USD [ETH-USDC]
Perpl MON
Coinbase International MON-PERP-INTX