Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0074%/8h= +8.1% APRpaid last 24h +0.199%

Price spread now: Kraken Futures against Variational Omni+0.031%7-day average +0.210% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.616%+$62 on $10k

Price spread, last 3 days (all we have)+0.678%+$68 · spread now +0.031%, 7d avg +0.210%

Together, before fees+1.294%+ Points / potential airdropVariational Omni: Active · farm board+$129 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.179% cheaper against Variational Omni than usual: you would sell low and buy high (spread +0.031% now, against its 7-day average of +0.210%). If the spread goes back, that is −$18 on $10k: about 8.1 days of funding at the current rate (+$2 a day). At the pace of the last 3 days (+0.616% in total) that is about 23 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MON	0.02571	0.0100	pay 0.0100% / 8h	1h 12m	$779K	$406K	—
Short	Kraken Futures PF_MONUSD	0.02572	0.0174	get 0.0022% / 1h	12m 05s	$270K	$78K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Variational Omni. 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 Variational OmnibpFee Kraken FuturesbpOrdersPrice spread, now +0.031%Rate

Funding earned: $15.57
Price spread: +0.031% → +0.210%: −$17.94
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$12.37
Costs to cover: 0.100%
Break-even: 12.6 days

Slippage unknown: Variational Omni: RFQ quote, 7 min ago; Kraken Futures: live order book, 5 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 Variational Omni RFQ quote, 7 min ago	9.72 bp	doesn't fit	130.2 bp −$1,302	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 5 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
Bybit MONUSDT	−0.0060%	8h	0.02565	−0.240%	$21.3M	$11.8M	50x	as long as short
Injective MON/USDC PERP	−0.0053%	1h	0.02575	+0.149%	$6K	$109	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02576	+0.176%	$13K	$362K	5x	as long as short
Perpl MON	0.0000%	43m	0.02568	−0.108%	$142K	$1.8M	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02570	−0.034%	$69K	$119K	25x	as long as short
Aftermath Perps MONUSD	+0.0026%	1h	0.02574	+0.125%	$2K	$73K	10x	as long as short
01 Exchange MONUSD	+0.0032%	1h	0.02569	−0.089%	$6K	$1K	5x	as long as short
Orderly PERP_MON_USDC	+0.0067%	4h	0.02567	−0.163%	$17K	$64K	10x	as long as short
Paradex MON-USD-PERP	+0.0086%	8h	0.02567	−0.180%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02570	−0.046%	$851K	$773K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado MON-PERP	+0.0100%	1h	0.02572	+0.014%	$387K	$540K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02571	+0.005%	$34.8M	$7.4M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02571	−0.015%	$108K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02569	−0.072%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02568	−0.124%	$142K	$104K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02568	−0.118%	$24.4M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02567	−0.163%	$4.4M	$5.8M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02578	+0.249%	$108K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02569	−0.085%	$995K	$873K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02570	−0.046%	$2.7M	$1.8M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02568	−0.120%	$127K	$138K	10x	as long as short
Variational Omni MONlong	+0.0100%	8h	0.02571	long leg	$779K	$406K	—
edgeX MONUSDC	+0.0100%	4h	0.02574	+0.128%	$47K	$244K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02577	+0.226%	$578K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02576	+0.188%	$69K	$480K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02569	−0.085%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02571	−0.010%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02569	−0.081%	$39K	—	3x	as long as short
Kraken Futures PF_MONUSDshort	+0.0174%	1h	0.02572	+0.031%	$270K	$78K	10x
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0598%	1h	0.02569	−0.077%	$8K	—	50x	as long as short
KuCoin MONUSDTM	+0.0300%	4h	0.02573	+0.071%	$3.2M	$667K	75x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02570	−0.046%	$1.3M	$292K	75x	as long as short
Coinbase International MON-PERP-INTX	+0.0536%	1h	0.02607	+1.382%	$114K	$49K	50x	as long as short