Funding you earn now, next payment 03:48 UTC−0.0357%/8h= −39.1% APRpaid last 24h +0.111%
Price spread now: Backpack against Perpl+0.075%7-day average −0.021% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.533%+$53 on $10k
+Price spread, last 4 days (all we have)−0.121%−$12 · spread now +0.075%, 7d avg −0.021%
=Together, before fees+0.412%+ Points / potential airdropPerpl: Active · farm board+$41 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Backpack is 0.096% dearer against Perpl than usual: you sell high and buy low (spread +0.075% now, against its 7-day average of −0.021%): +$10 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 22 hours. Mind the row above: over the last 7 days funding on this pair paid +0.533%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Perpl MON | 0.02522 | 0.0447 | pay 0.0040% / 43m | 31m 19s | $114K | $2.3M | 10x |
| Short | Backpack MON_USDC_PERP | 0.02524 | 0.0090 | get 0.0011% / 1h | 34m 19s | $112K | $151K | 10x |
Perpl MON
Backpack MON_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Perpl. 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
- −$74.9
- Price spread: +0.075% → −0.021%
- $9.64
- Slippage, 4 orders
- no order book: not counted
- Fee Perpl: 6.9 bp × 2 orders
- −$13.8
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$89.06
- Costs to cover
- 0.238%
- Break-even
- never at this rate
Slippage unknown: Perpl: no order-book sample; Backpack: live order book, 19 min ago. Net counts fees only.
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 Perpl no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 19 min ago | 0.20 bp | 11.9 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
Perpl: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0203% | 1h | 0.02528 | +0.234% | $5K | $111 | 5.5x | as long as short |
| Bybit MONUSDT | −0.0030% | 8h | 0.02519 | −0.139% | $20.7M | $13.4M | 50x | as long as short |
| Phoenix MON | 0.0000% | 1h | 0.02522 | −0.008% | $12K | $358K | 5x | as long as short |
| Orderly PERP_MON_USDC | +0.0073% | 4h | 0.02520 | −0.083% | $16K | $46K | 10x | as long as short |
| Backpack MON_USDC_PERPshort | +0.0090% | 1h | 0.02524 | +0.075% | $112K | $151K | 10x | |
| Lighter MON | +0.0096% | 1h | 0.02524 | +0.075% | $846K | $732K | 10x | as long as short |
| Paradex MON-USD-PERP | +0.0097% | 8h | 0.02521 | −0.048% | $8K | $42 | 5x | as long as short |
| Nado MON-PERP | +0.0100% | 1h | 0.02525 | +0.107% | $413K | $584K | 10x | as long as short |
| Hyperliquid MON | +0.0100% | 1h | 0.02522 | +0.008% | $34.0M | $7.5M | 5x | as long as short |
| Aster MONUSDT | +0.0100% | 4h | 0.02521 | −0.026% | $101K | $222K | 10x | as long as short |
Injective MON/USDC PERP
Bybit MONUSDT
Phoenix MON
Orderly PERP_MON_USDC
Lighter MON
Paradex MON-USD-PERP
Nado MON-PERP
Hyperliquid MON
Aster MONUSDTShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| dYdX MON-USD | +0.0100% | 1h | 0.02521 | −0.053% | $13K | — | 5x | as long as short |
| Pacifica MON | +0.0100% | 1h | 0.02523 | +0.036% | $139K | $93K | 3x | as long as short |
| Binance MONUSDT | +0.0100% | 4h | 0.02520 | −0.091% | $24.0M | $26.9M | 75x | as long as short |
| OKX MON-USDT-SWAP | +0.0100% | 4h | 0.02520 | −0.083% | $4.2M | $6.0M | 50x | as long as short |
| Bulk MON-USD | +0.0100% | 1h | 0.02521 | −0.025% | $103K | $2K | 10x | as long as short |
| Gate MON_USDT | +0.0100% | 4h | 0.02521 | −0.044% | $943K | $982K | 50x | as long as short |
| KuCoin MONUSDTM | +0.0100% | 4h | 0.02525 | +0.115% | $2.9M | $761K | 75x | as long as short |
| Bitget MONUSDT | +0.0100% | 4h | 0.02521 | −0.044% | $2.7M | $2.2M | 25x | as long as short |
| Variational Omni MON | +0.0100% | 8h | 0.02519 | −0.140% | $746K | $411K | — | as long as short |
| edgeX MONUSDC | +0.0100% | 4h | 0.02521 | −0.038% | $41K | $250K | 10x | as long as short |
| GRVT MON_USDT_Perp | +0.0100% | 4h | 0.02520 | −0.091% | $567K | $1.5M | 10x | as long as short |
| ApeX Omni MONUSDT | +0.0100% | 1h | 0.02523 | +0.036% | $68K | $518K | 50x | as long as short |
| SoDEX MON-USD | +0.0100% | 1h | 0.02523 | +0.036% | $5K | $6K | 5x | as long as short |
| Extended MON-USD | +0.0104% | 1h | 0.02522 | −0.009% | $48K | $519K | 10x | as long as short |
| Aevo MON-PERP | +0.0104% | 1h | 0.02512 | −0.400% | $38K | — | 3x | as long as short |
| Deribit MON_USDC-PERPETUAL | +0.0107% | 1h | 0.02521 | −0.048% | $74K | $136K | 25x | as long as short |
| 01 Exchange MONUSD | +0.0200% | 1h | 0.02522 | −0.020% | $6K | $1K | 5x | as long as short |
| GMX MON/USD [ETH-USDC] | L +0.0260% / S −0.0429% | 1h | 0.02520 | −0.087% | $9K | — | 50x | as long as short |
| Aftermath Perps MONUSD | +0.0322% | 1h | 0.02521 | −0.058% | $2K | $74K | 10x | as long as short |
| BloFin MON-USDT | +0.0340% | 4h | 0.02521 | −0.044% | $1.3M | $340K | 75x | as long as short |
| Coinbase International MON-PERP-INTX | +0.0368% | 1h | 0.02526 | +0.167% | $110K | $57K | 50x | as long as short |
| Perpl MONlong | +0.0447% | 43m | 0.02522 | long leg | $114K | $2.3M | 10x | |
| Kraken Futures PF_MONUSD | +0.0722% | 1h | 0.02527 | +0.175% | $271K | $113K | 10x | as long as short |
dYdX MON-USD
Pacifica MON
Binance MONUSDT
OKX MON-USDT-SWAP
Bulk MON-USD
Gate MON_USDT
KuCoin MONUSDTM
Bitget MONUSDT
Variational Omni MON
edgeX MONUSDC
GRVT MON_USDT_Perp
ApeX Omni MONUSDT
SoDEX MON-USD
Extended MON-USD
Aevo MON-PERP
Deribit MON_USDC-PERPETUAL
01 Exchange MONUSD
GMX MON/USD [ETH-USDC]
Aftermath Perps MONUSD
BloFin MON-USDT
Coinbase International MON-PERP-INTX
Kraken Futures PF_MONUSD