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= +34.7% APRpaid last 24h +0.195%

Price spread now: Kraken Futures against OKX+0.092%7-day average +0.142% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$110as in the Price arb table

costs, in and out, $10k−$1051.050% of the position

Long on OKX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.541%+$54 on $10k

Price spread, last 3 days (all we have)+0.250%+$25 · spread now +0.092%, 7d avg +0.142%

Together, before fees+0.791%+$79 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.050% cheaper against OKX than usual: you would sell low and buy high (spread +0.092% now, against its 7-day average of +0.142%). If the spread goes back, that is −$5 on $10k: about 13 hours of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MON-USDT-SWAP	0.02587	0.0100	pay 0.0050% / 4h	50m 39s	$4.4M	$6.0M	50x
Short	Kraken Futures PF_MONUSD	0.02589	0.0417	get 0.0052% / 1h	50m 39s	$272K	$78K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against OKX. 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 OKXbpFee Kraken FuturesbpOrdersPrice spread, now +0.092%Rate

Funding earned: $66.63
Price spread: +0.092% → +0.142%: −$5.04
Slippage, 4 orders: −$84.95
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$43.36
Costs to cover: 1.050%
Break-even: 11.6 days

Slippage from OKX: live order book, 2 min ago; Kraken Futures: live order book, 27 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 OKX live order book, 2 min ago	3.87 bp	17.0 bp −$17	74.8 bp −$748	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 27 min ago	21.33 bp	32.7 bp −$33	571.4 bp −$5,714	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	−0.464%	$6K	$106	5.5x	as long as short
01 Exchange MONUSD	−0.0088%	1h	0.02586	−0.043%	$6K	$1K	5x	as long as short
Bybit MONUSDT	−0.0065%	8h	0.02586	−0.039%	$21.4M	$12.0M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02587	−0.004%	$13K	$360K	5x	as long as short
Perpl MON	0.0000%	43m	0.02586	−0.035%	$128K	$1.8M	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02587	−0.004%	$70K	$119K	25x	as long as short
Aftermath Perps MONUSD	+0.0033%	1h	0.02580	−0.266%	$2K	$74K	10x	as long as short
Orderly PERP_MON_USDC	+0.0066%	4h	0.02584	−0.116%	$17K	$64K	10x	as long as short
Paradex MON-USD-PERP	+0.0091%	8h	0.02590	+0.114%	$8K	$42	5x	as long as short
Variational Omni MON	+0.0091%	8h	0.02575	−0.458%	$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	0.02590	+0.116%	$858K	$783K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02592	+0.197%	$35.0M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02587	+0.016%	$109K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02588	+0.026%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02589	+0.093%	$143K	$105K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02589	+0.064%	$24.6M	$25.1M	75x	as long as short
OKX MON-USDT-SWAPlong	+0.0100%	4h	0.02587	long leg	$4.4M	$6.0M	50x
Gate MON_USDT	+0.0100%	4h	0.02587	0.000%	$996K	$868K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02591	+0.155%	$2.8M	$1.8M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02586	−0.023%	$129K	$141K	10x	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02584	−0.131%	$47K	$243K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02587	0.000%	$580K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02590	+0.116%	$69K	$481K	50x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02588	+0.025%	$395K	$547K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02585	−0.077%	$5K	$6K	5x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02588	+0.033%	$109K	$3K	10x	as long as short
Extended MON-USD	+0.0104%	1h	0.02592	+0.195%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02585	−0.077%	$39K	—	3x	as long as short
KuCoin MONUSDTM	+0.0250%	4h	0.02593	+0.232%	$3.0M	$715K	75x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02586	−0.023%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02588	+0.039%	$1.3M	$310K	75x	as long as short
Kraken Futures PF_MONUSDshort	+0.0417%	1h	0.02589	+0.092%	$272K	$78K	10x
Coinbase International MON-PERP-INTX	+0.0480%	1h	0.02597	+0.394%	$114K	$50K	50x	as long as short