MON

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0405%/8h= +44.3% APRnext payment +$0.51 per $10,000 · paid last 24h +0.058%

Price spread now: Coinbase International against Backpack+0.485%7-day average +0.451% · you sell dearer than you buy

Net, funding: paid 7d − costs−$286as in the Funding arb table

Net, price: spread back to 7d avg − costs−$304as in the Price arb table

costs, in and out, $10k−$3083.075% of the position

Long on Backpack Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.212%+$21 on $10k

Price spread, last 3 days (all we have)+0.168%+$17 · spread now +0.485%, 7d avg +0.451%

Together, before fees+0.380%+$38 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Coinbase International is 0.034% dearer against Backpack than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.451%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.212% in total (about 11.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.51 per $10,000. 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	Backpack MON_USDC_PERP	0.02596	0.0243	pay 0.0030% / 1h	26m 41s	$137K	$136K	10x
Short	Coinbase International MON-PERP-INTX	0.02609	0.0648	get 0.0081% / 1h	26m 41s	$115K	$49K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Backpack. 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 BackpackbpFee Coinbase InternationalbpOrdersPrice spread, now +0.485%Rate

Funding earned: $85.01
Price spread: +0.485% → +0.451%: $3.41
Slippage, 4 orders: −$287.53
Fee Backpack: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$219.11
Costs to cover: 3.075%
Break-even: 25.0 days

Slippage from Backpack: live order book, 61 min ago; Coinbase International: live order book, 61 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 Backpack live order book, 61 min ago	0.97 bp	12.6 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 61 min ago	39.55 bp	143.9 bp −$144	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	−0.0739%	1h	0.02596	−0.012%	$6K	$109	5.5x	as long as short
01 Exchange MONUSD	−0.0256%	1h	0.02596	0.000%	$6K	$1K	5x	as long as short
Deribit MON_USDC-PERPETUAL	−0.0174%	1h	0.02595	−0.058%	$63K	$110K	25x	as long as short
Bybit MONUSDT	−0.0007%	8h	0.02594	−0.089%	$21.6M	$11.8M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02591	−0.189%	$13K	$384K	5x	as long as short
Orderly PERP_MON_USDC	+0.0091%	4h	0.02594	−0.089%	$17K	$64K	10x	as long as short
Paradex MON-USD-PERP	+0.0095%	8h	0.02595	−0.033%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02598	+0.065%	$851K	$753K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02594	−0.074%	$375K	$527K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02598	+0.081%	$35.0M	$7.5M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster MONUSDT	+0.0100%	4h	0.02592	−0.162%	$108K	$233K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02597	+0.033%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02597	+0.019%	$143K	$106K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02596	0.000%	$24.6M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02594	−0.089%	$4.4M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02600	+0.142%	$109K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02596	−0.012%	$1.0M	$933K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02597	+0.027%	$2.8M	$1.8M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02593	−0.112%	$778K	$407K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02595	−0.046%	$48K	$243K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02593	−0.127%	$582K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02594	−0.089%	$69K	$481K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02593	−0.127%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02600	+0.147%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02593	−0.119%	$39K	—	3x	as long as short
BloFin MON-USDT	+0.0109%	4h	0.02588	−0.320%	$1.4M	$245K	75x	as long as short
Kraken Futures PF_MONUSD	+0.0131%	1h	0.02597	+0.033%	$268K	$67K	10x	as long as short
Aftermath Perps MONUSD	+0.0210%	1h	0.02594	−0.085%	$2K	$73K	10x	as long as short
Backpack MON_USDC_PERPlong	+0.0243%	1h	0.02596	long leg	$137K	$136K	10x
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02595	−0.039%	$9K	—	50x	as long as short
KuCoin MONUSDTM	+0.0356%	4h	0.02601	+0.181%	$3.2M	$745K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02594	−0.100%	$145K	$1.8M	10x	as long as short
Coinbase International MON-PERP-INTXshort	+0.0648%	1h	0.02609	+0.485%	$115K	$49K	50x