Funding you earn now, next payment 23:00 UTC+0.0480%/8h= +52.6% APRnext payment +$0.60 per $10,000 · paid last 24h +0.215%
Price spread now: Coinbase International against Phoenix+1.199%7-day average +0.456% · you sell dearer than you buy
Net, funding: paid 7d − costs+$45as in the Funding arb table
Net, price: spread back to 7d avg − costs+$1as in the Price arb table
costs, in and out, $10k−$730.728% of the position
Funding, last 7 days+1.181%+$118 on $10k
+Price spread, last 3 days (all we have)−0.603%−$60 · spread now +1.199%, 7d avg +0.456%
=Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Coinbase International is 0.743% dearer against Phoenix than usual: you sell high and buy low: +$74 more if the spread goes back to its 7-day average of +0.456%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix MON | 0.02578 | 0 | get 0.0000% / 1h | 32m 59s | $13K | $360K | 5x |
| Short | Coinbase International MON-PERP-INTX | 0.02609 | 0.0480 | get 0.0060% / 1h | 32m 59s | $115K | $50K | 50x |
Phoenix MON
Coinbase International MON-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- $100.8
- Price spread: +1.199% → +0.456%
- $74.27
- Slippage, 4 orders
- −$55.81
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- $102.26
- Costs to cover
- 0.728%
- Break-even
- from the start
Slippage from Phoenix: live order book, 43 min ago; Coinbase International: live order book, 45 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, 43 min ago | 1.16 bp | 12.9 bp −$13 | 52.4 bp −$524 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 45 min ago | 15.92 bp | 20.9 bp −$21 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective MON/USDC PERP | −0.0121% | 1h | 0.02576 | −0.078% | $6K | $107 | 5.5x | as long as short |
| 01 Exchange MONUSD | −0.0056% | 1h | 0.02575 | −0.105% | $6K | $1K | 5x | as long as short |
| Bybit MONUSDT | −0.0034% | 8h | 0.02572 | −0.233% | $21.3M | $12.0M | 50x | as long as short |
| Phoenix MONlong | 0.0000% | 1h | 0.02578 | long leg | $13K | $360K | 5x | |
| Perpl MON | 0.0000% | 43m | 0.02578 | +0.004% | $126K | $1.8M | 10x | as long as short |
| Deribit MON_USDC-PERPETUAL | 0.0000% | 1h | 0.02577 | −0.050% | $70K | $119K | 25x | as long as short |
| Orderly PERP_MON_USDC | +0.0069% | 4h | 0.02574 | −0.155% | $17K | $64K | 10x | as long as short |
| Aftermath Perps MONUSD | +0.0088% | 1h | 0.02580 | +0.084% | $2K | $75K | 10x | as long as short |
| Paradex MON-USD-PERP | +0.0094% | 8h | 0.02574 | −0.173% | $8K | $42 | 5x | as long as short |
| Lighter MON | +0.0096% | 1h | 0.02576 | −0.078% | $855K | $793K | 10x | as long as short |
Injective MON/USDC PERP
01 Exchange MONUSD
Bybit MONUSDT
Perpl MON
Deribit MON_USDC-PERPETUAL
Orderly PERP_MON_USDC
Aftermath Perps MONUSD
Paradex MON-USD-PERP
Lighter MONShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado MON-PERP | +0.0100% | 1h | 0.02579 | +0.047% | $393K | $544K | 10x | as long as short |
| Hyperliquid MON | +0.0100% | 1h | 0.02577 | −0.035% | $34.9M | $7.6M | 5x | as long as short |
| Aster MONUSDT | +0.0100% | 4h | 0.02575 | −0.117% | $108K | $231K | 10x | as long as short |
| dYdX MON-USD | +0.0100% | 1h | 0.02575 | −0.120% | $13K | — | 5x | as long as short |
| Pacifica MON | +0.0100% | 1h | 0.02575 | −0.124% | $142K | $105K | 3x | as long as short |
| Binance MONUSDT | +0.0100% | 4h | 0.02574 | −0.155% | $24.5M | $25.4M | 75x | as long as short |
| OKX MON-USDT-SWAP | +0.0100% | 4h | 0.02574 | −0.155% | $4.3M | $6.0M | 50x | as long as short |
| Bulk MON-USD | +0.0100% | 1h | 0.02585 | +0.266% | $108K | $3K | 10x | as long as short |
| Gate MON_USDT | +0.0100% | 4h | 0.02573 | −0.194% | $980K | $909K | 50x | as long as short |
| Bitget MONUSDT | +0.0100% | 4h | 0.02575 | −0.116% | $2.7M | $1.8M | 25x | as long as short |
| Backpack MON_USDC_PERP | +0.0100% | 1h | 0.02575 | −0.124% | $128K | $141K | 10x | as long as short |
| Variational Omni MON | +0.0100% | 8h | 0.02576 | −0.070% | $779K | $408K | — | as long as short |
| edgeX MONUSDC | +0.0100% | 4h | 0.02579 | +0.034% | $47K | $244K | 10x | as long as short |
| GRVT MON_USDT_Perp | +0.0100% | 4h | 0.02579 | +0.024% | $584K | $1.5M | 10x | as long as short |
| ApeX Omni MONUSDT | +0.0100% | 1h | 0.02576 | −0.078% | $69K | $481K | 50x | as long as short |
| SoDEX MON-USD | +0.0100% | 1h | 0.02574 | −0.155% | $5K | $6K | 5x | as long as short |
| Extended MON-USD | +0.0104% | 1h | 0.02576 | −0.075% | $52K | $407K | 10x | as long as short |
| Aevo MON-PERP | +0.0104% | 1h | 0.02576 | −0.074% | $39K | — | 3x | as long as short |
| KuCoin MONUSDTM | +0.0260% | 4h | 0.02579 | +0.039% | $3.0M | $716K | 75x | as long as short |
| GMX MON/USD [ETH-USDC] | L +0.0260% / S −0.0598% | 1h | 0.02576 | −0.085% | $9K | — | 50x | as long as short |
| BloFin MON-USDT | +0.0340% | 4h | 0.02572 | −0.233% | $1.4M | $308K | 75x | as long as short |
| Kraken Futures PF_MONUSD | +0.0419% | 1h | 0.02578 | −0.011% | $271K | $78K | 10x | as long as short |
| Coinbase International MON-PERP-INTXshort | +0.0480% | 1h | 0.02609 | +1.199% | $115K | $50K | 50x |
Nado MON-PERP
Hyperliquid MON
Aster MONUSDT
dYdX MON-USD
Pacifica MON
Binance MONUSDT
OKX MON-USDT-SWAP
Bulk MON-USD
Gate MON_USDT
Bitget MONUSDT
Backpack MON_USDC_PERP
Variational Omni MON
edgeX MONUSDC
GRVT MON_USDT_Perp
ApeX Omni MONUSDT
SoDEX MON-USD
Extended MON-USD
Aevo MON-PERP
KuCoin MONUSDTM
GMX MON/USD [ETH-USDC]
BloFin MON-USDT
Kraken Futures PF_MONUSD