Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0321%/8h= +35.2% APRpaid last 24h +0.195%

Price spread now: Kraken Futures against Bitget+0.082%7-day average +0.057% · you sell dearer than you buy

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$108as in the Price arb table

costs, in and out, $10k−$1101.102% of the position

Long on Bitget Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.536%+$54 on $10k

Price spread, last 3 days (all we have)+0.200%+$20 · spread now +0.082%, 7d avg +0.057%

Together, before fees+0.737%+$74 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Kraken Futures is 0.025% dearer against Bitget than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.057%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MONUSDT	0.02564	0.0100	pay 0.0050% / 4h	24m 07s	$2.7M	$1.9M	25x
Short	Kraken Futures PF_MONUSD	0.02566	0.0421	get 0.0053% / 1h	24m 07s	$269K	$78K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bitget. 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 BitgetbpFee Kraken FuturesbpOrdersPrice spread, now +0.082%Rate

Funding earned: $67.43
Price spread: +0.082% → +0.057%: $2.51
Slippage, 4 orders: −$88.2
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$40.26
Costs to cover: 1.102%
Break-even: 11.2 days

Slippage from Bitget: live order book, 3 min ago; Kraken Futures: live order book, 53 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 Bitget live order book, 3 min ago	5.83 bp	20.3 bp −$20	50.9 bp −$509	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 53 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
Injective MON/USDC PERP	−0.0121%	1h	0.02576	+0.468%	$6K	$107	5.5x	as long as short
01 Exchange MONUSD	−0.0064%	1h	0.02563	−0.035%	$6K	$1K	5x	as long as short
Bybit MONUSDT	−0.0028%	8h	0.02559	−0.179%	$21.2M	$12.1M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02568	+0.156%	$13K	$360K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02563	−0.051%	$69K	$119K	25x	as long as short
Orderly PERP_MON_USDC	+0.0068%	4h	0.02562	−0.078%	$17K	$64K	10x	as long as short
Paradex MON-USD-PERP	+0.0095%	8h	0.02562	−0.060%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02564	0.000%	$851K	$794K	10x	as long as short
Aftermath Perps MONUSD	+0.0097%	1h	0.02570	+0.250%	$3K	$75K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02569	+0.182%	$392K	$544K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid MON	+0.0100%	1h	0.02566	+0.094%	$34.8M	$7.6M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02565	+0.020%	$107K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02567	+0.124%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02566	+0.059%	$142K	$105K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02561	−0.102%	$24.4M	$25.4M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02560	−0.156%	$4.3M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02570	+0.234%	$108K	$390	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02563	−0.039%	$975K	$909K	50x	as long as short
Bitget MONUSDTlong	+0.0100%	4h	0.02564	long leg	$2.7M	$1.9M	25x
Backpack MON_USDC_PERP	+0.0100%	1h	0.02563	−0.043%	$127K	$141K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02566	+0.066%	$776K	$408K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02569	+0.176%	$47K	$242K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02571	+0.268%	$582K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02572	+0.312%	$69K	$481K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02562	−0.078%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02567	+0.134%	$51K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02562	−0.094%	$39K	—	3x	as long as short
KuCoin MONUSDTM	+0.0254%	4h	0.02569	+0.195%	$3.0M	$717K	75x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0598%	1h	0.02562	−0.062%	$8K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02566	+0.078%	$1.4M	$308K	75x	as long as short
Kraken Futures PF_MONUSDshort	+0.0421%	1h	0.02566	+0.082%	$269K	$78K	10x
Perpl MON	+0.0447%	43m	0.02565	+0.055%	$125K	$1.8M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0480%	1h	0.02609	+1.751%	$115K	$50K	50x	as long as short