Funding you earn now, next payment 21:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.005%
Price spread now: Phoenix against Bitget−0.150%99s7-day average +0.015% · you buy dearer than you sell
Net, funding: paid 7d − costs−$87as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$640.642% of the position
Funding, last 7 days−0.227%−$23 on $10k
+Price spread, last 3 days (all we have)+0.554%+$55 · spread now −0.150%, 7d avg +0.015%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Phoenix is 0.165% cheaper against Bitget than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of +0.015%). Swap the legs. The two prices were read 99 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bitget MONUSDT | 0.02598 | 0.0100 | pay 0.0050% / 4h | 2h 23m | $2.8M | $1.8M | 25x |
| Short | Phoenix MON | 0.02594 | 0 | get 0.0000% / 1h | 23m 53s | $13K | $384K | 5x |
Bitget MONUSDT
Phoenix MONFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Bitget. 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
- −$21
- Price spread: −0.150% → +0.015%
- −$16.46
- Slippage, 4 orders
- −$45.18
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$101.64
- Costs to cover
- 0.642%
- Break-even
- never at this rate
Slippage from Bitget: live order book, 4 min ago; Phoenix: live order book, 62 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, 4 min ago | 5.78 bp | 18.8 bp −$19 | 50.3 bp −$503 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 62 min ago | 1.16 bp | 12.9 bp −$13 | 44.4 bp −$444 | 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 | −0.077% | $6K | $109 | 5.5x | as long as short |
| 01 Exchange MONUSD | −0.0248% | 1h | 0.02598 | +0.015% | $6K | $1K | 5x | as long as short |
| Deribit MON_USDC-PERPETUAL | −0.0096% | 1h | 0.02599 | +0.038% | $63K | $110K | 25x | as long as short |
| Bybit MONUSDT | 0.0000% | 8h | 0.02594 | −0.139% | $21.6M | $11.8M | 50x | as long as short |
| Phoenix MONshort | 0.0000% | 1h | 0.02594 | −0.150% | $13K | $384K | 5x | |
| BloFin MON-USDT | +0.0083% | 4h | 0.02597 | −0.038% | $1.4M | $245K | 75x | as long as short |
| Orderly PERP_MON_USDC | +0.0091% | 4h | 0.02598 | 0.000% | $17K | $64K | 10x | as long as short |
| Paradex MON-USD-PERP | +0.0095% | 8h | 0.02597 | −0.032% | $8K | $42 | 5x | as long as short |
| Lighter MON | +0.0096% | 1h | 0.02599 | +0.038% | $853K | $758K | 10x | as long as short |
| Nado MON-PERP | +0.0100% | 1h | 0.02600 | +0.063% | $374K | $527K | 10x | as long as short |
Injective MON/USDC PERP
01 Exchange MONUSD
Deribit MON_USDC-PERPETUAL
Bybit MONUSDT
BloFin MON-USDT
Orderly PERP_MON_USDC
Paradex MON-USD-PERP
Lighter MON
Nado MON-PERPShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid MON | +0.0100% | 1h | 0.02600 | +0.089% | $35.0M | $7.4M | 5x | as long as short |
| Aster MONUSDT | +0.0100% | 4h | 0.02598 | −0.001% | $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 | 0.02598 | +0.004% | $143K | $106K | 3x | as long as short |
| Binance MONUSDT | +0.0100% | 4h | 0.02597 | −0.038% | $24.6M | $24.6M | 75x | as long as short |
| OKX MON-USDT-SWAP | +0.0100% | 4h | 0.02594 | −0.154% | $4.4M | $6.0M | 50x | as long as short |
| Bulk MON-USD | +0.0100% | 1h | 0.02600 | +0.077% | $109K | $3K | 10x | as long as short |
| Gate MON_USDT | +0.0100% | 4h | 0.02598 | 0.000% | $1.0M | $934K | 50x | as long as short |
| Bitget MONUSDTlong | +0.0100% | 4h | 0.02598 | long leg | $2.8M | $1.8M | 25x | |
| Variational Omni MON | +0.0100% | 8h | 0.02596 | −0.080% | $777K | $407K | — | as long as short |
| edgeX MONUSDC | +0.0100% | 4h | 0.02592 | −0.230% | $48K | $242K | 10x | as long as short |
| GRVT MON_USDT_Perp | +0.0100% | 4h | 0.02594 | −0.135% | $584K | $1.5M | 10x | as long as short |
| ApeX Omni MONUSDT | +0.0100% | 1h | 0.02594 | −0.154% | $69K | $480K | 50x | as long as short |
| SoDEX MON-USD | +0.0100% | 1h | 0.02597 | −0.038% | $5K | $6K | 5x | as long as short |
| Extended MON-USD | +0.0104% | 1h | 0.02600 | +0.096% | $52K | $407K | 10x | as long as short |
| Aevo MON-PERP | +0.0104% | 1h | 0.02597 | −0.042% | $39K | — | 3x | as long as short |
| Kraken Futures PF_MONUSD | +0.0131% | 1h | 0.02601 | +0.123% | $268K | $67K | 10x | as long as short |
| Aftermath Perps MONUSD | +0.0196% | 1h | 0.02596 | −0.094% | $2K | $73K | 10x | as long as short |
| GMX MON/USD [ETH-USDC] | L +0.0261% / S −0.0598% | 1h | 0.02598 | +0.012% | $9K | — | 50x | as long as short |
| Backpack MON_USDC_PERP | +0.0286% | 1h | 0.02599 | +0.023% | $138K | $136K | 10x | as long as short |
| KuCoin MONUSDTM | +0.0360% | 4h | 0.02604 | +0.231% | $3.2M | $745K | 75x | as long as short |
| Perpl MON | +0.0447% | 43m | 0.02599 | +0.031% | $146K | $1.8M | 10x | as long as short |
| Coinbase International MON-PERP-INTX | +0.0648% | 1h | 0.02600 | +0.062% | $114K | $49K | 50x | as long as short |
Hyperliquid MON
Aster MONUSDT
dYdX MON-USD
Pacifica MON
Binance MONUSDT
OKX MON-USDT-SWAP
Bulk MON-USD
Gate MON_USDT
Variational Omni MON
edgeX MONUSDC
GRVT MON_USDT_Perp
ApeX Omni MONUSDT
SoDEX MON-USD
Extended MON-USD
Aevo MON-PERP
Kraken Futures PF_MONUSD
Aftermath Perps MONUSD
GMX MON/USD [ETH-USDC]
Backpack MON_USDC_PERP
KuCoin MONUSDTM
Perpl MON
Coinbase International MON-PERP-INTX