Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0746%/8h= +81.7% APRpaid last 24h +0.188%

Price spread now: Kraken Futures against Binance+0.033%7-day average +0.100% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$98as in the Price arb table

costs, in and out, $10k−$910.914% of the position

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.629%+$63 on $10k

Price spread, last 4 days (all we have)+0.222%+$22 · spread now +0.033%, 7d avg +0.100%

Together, before fees+0.850%+$85 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.067% cheaper against Binance than usual: you would sell low and buy high (spread +0.033% now, against its 7-day average of +0.100%). If the spread goes back, that is −$7 on $10k: about 7 hours of funding at the current rate (+$22 a day). At the pace of the last 7 days (+0.629% in total) that is about 18 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MONUSDT	0.02497	0.0100	pay 0.0050% / 4h	1h 00m	$23.7M	$27.5M	75x
Short	Kraken Futures PF_MONUSD	0.02498	0.0846	get 0.0106% / 1h	0m 39s	$268K	$119K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Binance. 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 BinancebpFee Kraken FuturesbpOrdersPrice spread, now +0.033%Rate

Funding earned: $156.69
Price spread: +0.033% → +0.100%: −$6.68
Slippage, 4 orders: −$71.38
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $58.63
Costs to cover: 0.914%
Break-even: 4.4 days

Slippage from Binance: live order book, 11 min ago; Kraken Futures: live order book, 42 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 Binance live order book, 11 min ago	2.00 bp	14.2 bp −$14	46.3 bp −$463	489.4 bp −$48.9K	doesn't fit
Sell Kraken Futures live order book, 42 min ago	17.99 bp	34.6 bp −$35	432.3 bp −$4,323	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 MON	0.0000%	1h	0.02506	+0.344%	$13K	$353K	5x	as long as short
Perpl MON	0.0000%	43m	0.02497	+0.016%	$126K	$2.2M	10x	as long as short
Orderly PERP_MON_USDC	+0.0089%	4h	0.02497	0.000%	$16K	$42K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02499	+0.080%	$801K	$787K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02498	+0.025%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02498	+0.024%	$391K	$575K	10x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02499	+0.066%	$99K	$213K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02496	−0.060%	$12K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02498	+0.028%	$138K	$91K	3x	as long as short
Binance MONUSDTlong	+0.0100%	4h	0.02497	long leg	$23.7M	$27.5M	75x

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit MONUSDT	+0.0100%	8h	0.02496	−0.036%	$20.7M	$13.8M	50x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02497	0.000%	$4.2M	$6.2M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02500	+0.120%	$103K	−$0	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02498	+0.040%	$931K	$1.0M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02500	+0.120%	$2.9M	$766K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02501	+0.160%	$2.7M	$2.3M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02498	+0.052%	$109K	$156K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02494	−0.138%	$741K	$411K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02504	+0.281%	$41K	$251K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02506	+0.362%	$565K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02506	+0.360%	$68K	$536K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02495	−0.080%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02502	+0.193%	$47K	$268K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02496	−0.060%	$38K	—	3x	as long as short
Injective MON/USDC PERP	+0.0109%	1h	0.02500	+0.120%	$5K	$113	5.5x	as long as short
Deribit MON_USDC-PERPETUAL	+0.0191%	1h	0.02497	−0.012%	$72K	$138K	25x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0230% / S −0.0246%	1h	0.02494	−0.104%	$6K	—	50x	as long as short
01 Exchange MONUSD	+0.0272%	1h	0.02501	+0.172%	$6K	$3K	5x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02500	+0.120%	$1.3M	$348K	75x	as long as short
Hyperliquid MON	+0.0425%	1h	0.02499	+0.096%	$33.8M	$7.8M	5x	as long as short
Aftermath Perps MONUSD	+0.0476%	1h	0.02502	+0.183%	$6K	$100K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0576%	1h	0.02511	+0.569%	$110K	$53K	50x	as long as short
Kraken Futures PF_MONUSDshort	+0.0846%	1h	0.02498	+0.033%	$268K	$119K	10x