Funding you earn now, next payment 07:00 UTC−0.0340%/8h= −37.2% APRpaid last 24h −0.041%
Price spread now: Phoenix against BloFin−0.347%7-day average +0.015% · you buy dearer than you sell
Net, funding: paid 7d − costs−$102as in the Funding arb table
Net, price: spread back to 7d avg − costs−$98as in the Price arb table
costs, in and out, $10k−$620.615% of the position
Funding, last 7 days−0.408%−$41 on $10k
+Price spread, last 4 days (all we have)+0.105%+$11 · spread now −0.347%, 7d avg +0.015%
=Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Phoenix is 0.363% cheaper against BloFin than usual: you would sell low and buy high (−$36 if the spread goes back to its 7-day average of +0.015%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BloFin MON-USDT | 0.02506 | 0.0340 | pay 0.0170% / 4h | 18m 24s | $1.3M | $334K | 75x |
| Short | Phoenix MON | 0.02497 | 0 | get 0.0000% / 1h | 18m 24s | $13K | $349K | 5x |
BloFin MON-USDT
Phoenix MONFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against BloFin. 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
- −$71.4
- Price spread: −0.347% → +0.015%
- −$36.25
- Slippage, 4 orders
- −$42.51
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$169.17
- Costs to cover
- 0.615%
- Break-even
- never at this rate
Slippage from BloFin: live order book, 4 min ago; Phoenix: live order book, 18 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 BloFin live order book, 4 min ago | 2.00 bp | 19.2 bp −$19 | 33.4 bp −$334 | 207.0 bp −$20.7K | doesn't fit |
| Sell Phoenix live order book, 18 min ago | 1.20 bp | 13.2 bp −$13 | 44.9 bp −$449 | 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 | −0.0032% | 1h | 0.02503 | −0.120% | $5K | $111 | 5.5x | as long as short |
| Phoenix MONshort | 0.0000% | 1h | 0.02497 | −0.347% | $13K | $349K | 5x | |
| Perpl MON | 0.0000% | 43m | 0.02506 | +0.016% | $122K | $2.2M | 10x | as long as short |
| Deribit MON_USDC-PERPETUAL | 0.0000% | 1h | 0.02504 | −0.064% | $73K | $138K | 25x | as long as short |
| Lighter MON | +0.0096% | 1h | 0.02505 | −0.040% | $803K | $785K | 10x | as long as short |
| Paradex MON-USD-PERP | +0.0100% | 8h | 0.02503 | −0.105% | $8K | $42 | 5x | as long as short |
| Aster MONUSDT | +0.0100% | 4h | 0.02501 | −0.190% | $99K | $213K | 10x | as long as short |
| dYdX MON-USD | +0.0100% | 1h | 0.02499 | −0.275% | $12K | — | 5x | as long as short |
| Pacifica MON | +0.0100% | 1h | 0.02504 | −0.068% | $139K | $91K | 3x | as long as short |
| Binance MONUSDT | +0.0100% | 4h | 0.02502 | −0.160% | $23.8M | $27.5M | 75x | as long as short |
Injective MON/USDC PERP
Perpl MON
Deribit MON_USDC-PERPETUAL
Lighter MON
Paradex MON-USD-PERP
Aster MONUSDT
dYdX MON-USD
Pacifica MON
Binance MONUSDTShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit MONUSDT | +0.0100% | 8h | 0.02502 | −0.160% | $20.8M | $13.9M | 50x | as long as short |
| OKX MON-USDT-SWAP | +0.0100% | 4h | 0.02502 | −0.160% | $4.2M | $6.2M | 50x | as long as short |
| Gate MON_USDT | +0.0100% | 4h | 0.02503 | −0.120% | $938K | $1.1M | 50x | as long as short |
| KuCoin MONUSDTM | +0.0100% | 4h | 0.02504 | −0.080% | $2.9M | $766K | 75x | as long as short |
| Bitget MONUSDT | +0.0100% | 4h | 0.02503 | −0.120% | $2.7M | $2.3M | 25x | as long as short |
| Backpack MON_USDC_PERP | +0.0100% | 1h | 0.02507 | +0.024% | $109K | $157K | 10x | as long as short |
| Variational Omni MON | +0.0100% | 8h | 0.02492 | −0.556% | $740K | $410K | — | as long as short |
| edgeX MONUSDC | +0.0100% | 4h | 0.02493 | −0.499% | $41K | $251K | 10x | as long as short |
| GRVT MON_USDT_Perp | +0.0100% | 4h | 0.02497 | −0.359% | $556K | $1.5M | 10x | as long as short |
| ApeX Omni MONUSDT | +0.0100% | 1h | 0.02497 | −0.359% | $68K | $540K | 50x | as long as short |
| Nado MON-PERP | +0.0100% | 1h | 0.02508 | +0.072% | $393K | $578K | 10x | as long as short |
| Orderly PERP_MON_USDC | +0.0100% | 4h | 0.02504 | −0.080% | $16K | $42K | 10x | as long as short |
| SoDEX MON-USD | +0.0100% | 1h | 0.02504 | −0.080% | $5K | $6K | 5x | as long as short |
| Bulk MON-USD | +0.0100% | 1h | 0.02500 | −0.253% | $103K | −$0 | 10x | as long as short |
| Extended MON-USD | +0.0104% | 1h | 0.02506 | +0.006% | $47K | $314K | 10x | as long as short |
| Aevo MON-PERP | +0.0104% | 1h | 0.02503 | −0.132% | $38K | — | 3x | as long as short |
| Hyperliquid MON | +0.0156% | 1h | 0.02506 | +0.012% | $33.9M | $7.8M | 5x | as long as short |
| 01 Exchange MONUSD | +0.0208% | 1h | 0.02505 | −0.032% | $6K | $3K | 5x | as long as short |
| GMX MON/USD [ETH-USDC] | L +0.0231% / S −0.0246% | 1h | 0.02503 | −0.124% | $6K | — | 50x | as long as short |
| BloFin MON-USDTlong | +0.0340% | 4h | 0.02506 | long leg | $1.3M | $334K | 75x | |
| Aftermath Perps MONUSD | +0.0604% | 1h | 0.02501 | −0.207% | $4K | $102K | 10x | as long as short |
| Coinbase International MON-PERP-INTX | +0.0680% | 1h | 0.02515 | +0.351% | $111K | $54K | 50x | as long as short |
| Kraken Futures PF_MONUSD | +0.1202% | 1h | 0.02507 | +0.045% | $269K | $118K | 10x | as long as short |
Bybit MONUSDT
OKX MON-USDT-SWAP
Gate MON_USDT
KuCoin MONUSDTM
Bitget MONUSDT
Backpack MON_USDC_PERP
Variational Omni MON
edgeX MONUSDC
GRVT MON_USDT_Perp
ApeX Omni MONUSDT
Nado MON-PERP
Orderly PERP_MON_USDC
SoDEX MON-USD
Bulk MON-USD
Extended MON-USD
Aevo MON-PERP
Hyperliquid MON
01 Exchange MONUSD
GMX MON/USD [ETH-USDC]
Aftermath Perps MONUSD
Coinbase International MON-PERP-INTX
Kraken Futures PF_MONUSD