Funding you earn now, next payment 02:00 UTC+0.0416%/8h= +45.6% APRpaid last 24h −0.001%
Price spread now: Binance against Phoenix+0.171%55s7-day average −0.050% · you sell dearer than you buy
Net, funding: paid 7d − costs−$36as 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−$600.603% of the position
Funding, last 7 days+0.242%+$24 on $10k
+Price spread, last 4 days (all we have)−0.833%−$83 · spread now +0.171%, 7d avg −0.050%
=Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Binance is 0.220% dearer against Phoenix than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of −0.050%. The two prices were read 55 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 0.242% in total (about 12.6% 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 | Phoenix MON | 0.02530 | −0.0316 | get 0.0040% / 1h | 44m 33s | $13K | $367K | 5x |
| Short | Binance MONUSDT | 0.02534 | 0.0100 | get 0.0050% / 4h | 1h 44m | $24.2M | $26.0M | 75x |
Phoenix MON
Binance MONUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Phoenix. 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
- $87.38
- Price spread: +0.171% → −0.050%
- $22.03
- Slippage, 4 orders
- −$43.3
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- $49.11
- Costs to cover
- 0.603%
- Break-even
- 3.1 days
Slippage from Phoenix: live order book, 16 min ago; Binance: live order book, 12 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 Phoenix live order book, 16 min ago | 1.18 bp | 13.1 bp −$13 | 52.5 bp −$525 | doesn't fit | doesn't fit |
| Sell Binance live order book, 12 min ago | 1.98 bp | 18.1 bp −$18 | 59.7 bp −$597 | 293.4 bp −$29.3K | 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix MONlong | −0.0316% | 1h | 0.02530 | long leg | $13K | $367K | 5x | |
| Backpack MON_USDC_PERP | −0.0259% | 1h | 0.02541 | +0.447% | $114K | $152K | 10x | as long as short |
| Injective MON/USDC PERP | −0.0253% | 1h | 0.02531 | +0.040% | $5K | $106 | 5.5x | as long as short |
| Bybit MONUSDT | −0.0127% | 8h | 0.02531 | +0.040% | $20.8M | $12.9M | 50x | as long as short |
| 01 Exchange MONUSD | −0.0096% | 1h | 0.02534 | +0.154% | $6K | $1K | 5x | as long as short |
| Deribit MON_USDC-PERPETUAL | +0.0026% | 1h | 0.02539 | +0.356% | $68K | $125K | 25x | as long as short |
| Orderly PERP_MON_USDC | +0.0076% | 4h | 0.02537 | +0.277% | $16K | $51K | 10x | as long as short |
| Lighter MON | +0.0096% | 1h | 0.02538 | +0.316% | $846K | $738K | 10x | as long as short |
| Paradex MON-USD-PERP | +0.0099% | 8h | 0.02536 | +0.248% | $8K | $42 | 5x | as long as short |
| Nado MON-PERP | +0.0100% | 1h | 0.02538 | +0.325% | $409K | $539K | 10x | as long as short |
Backpack MON_USDC_PERP
Injective MON/USDC PERP
Bybit MONUSDT
01 Exchange MONUSD
Deribit MON_USDC-PERPETUAL
Orderly PERP_MON_USDC
Lighter MON
Paradex MON-USD-PERP
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 | 0.02539 | +0.356% | $34.4M | $7.4M | 5x | as long as short |
| Aster MONUSDT | +0.0100% | 4h | 0.02535 | +0.217% | $101K | $229K | 10x | as long as short |
| dYdX MON-USD | +0.0100% | 1h | 0.02539 | +0.346% | $13K | — | 5x | as long as short |
| Pacifica MON | +0.0100% | 1h | 0.02537 | +0.277% | $140K | $93K | 3x | as long as short |
| Binance MONUSDTshort | +0.0100% | 4h | 0.02534 | +0.171% | $24.2M | $26.0M | 75x | |
| OKX MON-USDT-SWAP | +0.0100% | 4h | 0.02532 | +0.079% | $4.2M | $5.8M | 50x | as long as short |
| Bulk MON-USD | +0.0100% | 1h | 0.02530 | 0.000% | $105K | $4K | 10x | as long as short |
| Gate MON_USDT | +0.0100% | 4h | 0.02536 | +0.237% | $948K | $916K | 50x | as long as short |
| KuCoin MONUSDTM | +0.0100% | 4h | 0.02535 | +0.198% | $2.9M | $742K | 75x | as long as short |
| Bitget MONUSDT | +0.0100% | 4h | 0.02537 | +0.277% | $2.7M | $2.0M | 25x | as long as short |
| Variational Omni MON | +0.0100% | 8h | 0.02523 | −0.274% | $749K | $405K | — | as long as short |
| edgeX MONUSDC | +0.0100% | 4h | 0.02525 | −0.187% | $43K | $248K | 10x | as long as short |
| GRVT MON_USDT_Perp | +0.0100% | 4h | 0.02529 | −0.046% | $566K | $1.5M | 10x | as long as short |
| ApeX Omni MONUSDT | +0.0100% | 1h | 0.02529 | −0.040% | $68K | $498K | 50x | as long as short |
| SoDEX MON-USD | +0.0100% | 1h | 0.02538 | +0.316% | $5K | $6K | 5x | as long as short |
| Extended MON-USD | +0.0104% | 1h | 0.02538 | +0.307% | $50K | $521K | 10x | as long as short |
| Aevo MON-PERP | +0.0104% | 1h | 0.02539 | +0.348% | $38K | — | 3x | as long as short |
| GMX MON/USD [ETH-USDC] | L +0.0260% / S −0.0429% | 1h | 0.02537 | +0.289% | $9K | — | 50x | as long as short |
| Aftermath Perps MONUSD | +0.0295% | 1h | 0.02531 | +0.046% | $2K | $74K | 10x | as long as short |
| BloFin MON-USDT | +0.0340% | 4h | 0.02530 | 0.000% | $1.3M | $307K | 75x | as long as short |
| Perpl MON | +0.0447% | 43m | 0.02538 | +0.312% | $105K | $2.3M | 10x | as long as short |
| Kraken Futures PF_MONUSD | +0.0490% | 1h | 0.02540 | +0.388% | $268K | $97K | 10x | as long as short |
| Coinbase International MON-PERP-INTX | +0.0536% | 1h | 0.02531 | +0.036% | $111K | $52K | 50x | as long as short |
Hyperliquid MON
Aster MONUSDT
dYdX MON-USD
Pacifica MON
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
GMX MON/USD [ETH-USDC]
Aftermath Perps MONUSD
BloFin MON-USDT
Perpl MON
Kraken Futures PF_MONUSD
Coinbase International MON-PERP-INTX