Funding you earn now, next payment 02:00 UTC+0.0416%/8h= +45.6% APRpaid last 24h −0.001%
Price spread now: Gate against Phoenix+0.202%7-day average −0.049% · you sell dearer than you buy
Net, funding: paid 7d − costs−$47as in the Funding arb table
Net, price: spread back to 7d avg − costs−$44as in the Price arb table
costs, in and out, $10k−$690.688% of the position
Funding, last 7 days+0.223%+$22 on $10k
+Price spread, last 4 days (all we have)−0.813%−$81 · spread now +0.202%, 7d avg −0.049%
=Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Gate is 0.250% dearer against Phoenix than usual: you sell high and buy low: +$25 more if the spread goes back to its 7-day average of −0.049%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.223% in total (about 11.6% 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 | 0.02531 | −0.0316 | get 0.0040% / 1h | 20m 47s | $12K | $367K | 5x |
| Short | Gate MON_USDT | 0.02536 | 0.0100 | get 0.0050% / 4h | 1h 20m | $947K | $959K | 50x |
Phoenix MON
Gate MON_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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: +0.202% → −0.049%
- $25.05
- Slippage, 4 orders
- −$46.84
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- $43.58
- Costs to cover
- 0.688%
- Break-even
- 3.5 days
Slippage from Phoenix: live order book, 40 min ago; Gate: live order book, 41 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, 40 min ago | 1.18 bp | 13.1 bp −$13 | 52.5 bp −$525 | doesn't fit | doesn't fit |
| Sell Gate live order book, 41 min ago | 3.94 bp | 21.6 bp −$22 | 306.9 bp −$3,069 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix MONlong | −0.0316% | 1h | 0.02531 | long leg | $12K | $367K | 5x | |
| Backpack MON_USDC_PERP | −0.0254% | 1h | 0.02536 | +0.190% | $114K | $150K | 10x | as long as short |
| Injective MON/USDC PERP | −0.0253% | 1h | 0.02535 | +0.162% | $6K | $111 | 5.5x | as long as short |
| Bybit MONUSDT | −0.0151% | 8h | 0.02533 | +0.063% | $20.8M | $13.1M | 50x | as long as short |
| Deribit MON_USDC-PERPETUAL | −0.0026% | 1h | 0.02535 | +0.146% | $68K | $125K | 25x | as long as short |
| 01 Exchange MONUSD | 0.0000% | 1h | 0.02538 | +0.288% | $6K | $1K | 5x | as long as short |
| Perpl MON | 0.0000% | 43m | 0.02535 | +0.166% | $105K | $2.3M | 10x | as long as short |
| Orderly PERP_MON_USDC | +0.0085% | 4h | 0.02537 | +0.241% | $16K | $51K | 10x | as long as short |
| Lighter MON | +0.0096% | 1h | 0.02535 | +0.162% | $845K | $738K | 10x | as long as short |
| Paradex MON-USD-PERP | +0.0099% | 8h | 0.02538 | +0.277% | $8K | $42 | 5x | as long as short |
Backpack MON_USDC_PERP
Injective MON/USDC PERP
Bybit MONUSDT
Deribit MON_USDC-PERPETUAL
01 Exchange MONUSD
Perpl MON
Orderly PERP_MON_USDC
Lighter MON
Paradex MON-USD-PERPShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid MON | +0.0100% | 1h | 0.02536 | +0.221% | $34.3M | $7.5M | 5x | as long as short |
| Aster MONUSDT | +0.0100% | 4h | 0.02538 | +0.269% | $101K | $222K | 10x | as long as short |
| dYdX MON-USD | +0.0100% | 1h | 0.02539 | +0.312% | $13K | — | 5x | as long as short |
| Pacifica MON | +0.0100% | 1h | 0.02538 | +0.265% | $140K | $93K | 3x | as long as short |
| Binance MONUSDT | +0.0100% | 4h | 0.02534 | +0.122% | $24.2M | $26.5M | 75x | as long as short |
| OKX MON-USDT-SWAP | +0.0100% | 4h | 0.02533 | +0.083% | $4.2M | $5.9M | 50x | as long as short |
| Bulk MON-USD | +0.0100% | 1h | 0.02520 | −0.430% | $103K | $5K | 10x | as long as short |
| Gate MON_USDTshort | +0.0100% | 4h | 0.02536 | +0.202% | $947K | $959K | 50x | |
| KuCoin MONUSDTM | +0.0100% | 4h | 0.02538 | +0.281% | $2.9M | $743K | 75x | as long as short |
| Bitget MONUSDT | +0.0100% | 4h | 0.02537 | +0.241% | $2.7M | $2.1M | 25x | as long as short |
| Variational Omni MON | +0.0100% | 8h | 0.02531 | +0.005% | $753K | $405K | — | as long as short |
| edgeX MONUSDC | +0.0100% | 4h | 0.02523 | −0.321% | $41K | $249K | 10x | as long as short |
| GRVT MON_USDT_Perp | +0.0100% | 4h | 0.02530 | −0.034% | $566K | $1.5M | 10x | as long as short |
| ApeX Omni MONUSDT | +0.0100% | 1h | 0.02529 | −0.075% | $68K | $502K | 50x | as long as short |
| Nado MON-PERP | +0.0100% | 1h | 0.02539 | +0.325% | $414K | $543K | 10x | as long as short |
| SoDEX MON-USD | +0.0100% | 1h | 0.02533 | +0.083% | $5K | $6K | 5x | as long as short |
| Extended MON-USD | +0.0104% | 1h | 0.02538 | +0.263% | $50K | $516K | 10x | as long as short |
| Aevo MON-PERP | +0.0104% | 1h | 0.02533 | +0.087% | $38K | — | 3x | as long as short |
| Aftermath Perps MONUSD | +0.0226% | 1h | 0.02532 | +0.033% | $2K | $74K | 10x | as long as short |
| GMX MON/USD [ETH-USDC] | L +0.0260% / S −0.0429% | 1h | 0.02534 | +0.130% | $9K | — | 50x | as long as short |
| BloFin MON-USDT | +0.0340% | 4h | 0.02535 | +0.162% | $1.3M | $321K | 75x | as long as short |
| Kraken Futures PF_MONUSD | +0.0490% | 1h | 0.02538 | +0.275% | $272K | $110K | 10x | as long as short |
| Coinbase International MON-PERP-INTX | +0.0536% | 1h | 0.02547 | +0.652% | $111K | $56K | 50x | as long as short |
Hyperliquid MON
Aster MONUSDT
dYdX MON-USD
Pacifica MON
Binance MONUSDT
OKX MON-USDT-SWAP
Bulk MON-USD
KuCoin MONUSDTM
Bitget MONUSDT
Variational Omni MON
edgeX MONUSDC
GRVT MON_USDT_Perp
ApeX Omni MONUSDT
Nado MON-PERP
SoDEX MON-USD
Extended MON-USD
Aevo MON-PERP
Aftermath Perps MONUSD
GMX MON/USD [ETH-USDC]
BloFin MON-USDT
Kraken Futures PF_MONUSD
Coinbase International MON-PERP-INTX