Funding you earn now, next payment 07:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h −0.007%
Price spread now: Phoenix against Bulk+0.188%7-day average +0.056% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$60as in the Price arb table
costs, in and out, $10k−$730.728% of the position
Funding, last 4 days (all we have)−0.027%−$3 on $10k
+Price spread, last 4 days (all we have)+1.172%+$117 · spread now +0.188%, 7d avg +0.056%
=The price spread pays, funding is against you. Phoenix is 0.131% dearer against Bulk than usual: you sell high and buy low (spread +0.188% now, against its 7-day average of +0.056%): +$13 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.4 days. At the pace of the last 4 days (−0.027% in total) that is about 18 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bulk MON-USD | 0.02505 | 0.0100 | pay 0.0013% / 1h | 38m 51s | $103K | −$0 | 10x |
| Short | Phoenix MON | 0.02510 | 0 | get 0.0000% / 1h | 38m 51s | $13K | $349K | 5x |
Bulk MON-USD
Phoenix MONFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Bulk. 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: +0.188% → +0.056%
- $13.13
- Slippage, 4 orders
- −$58.77
- Fee Bulk: 3.5 bp × 2 orders
- −$7
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$80.65
- Costs to cover
- 0.728%
- Break-even
- never at this rate
Slippage from Bulk: live order book, 65 min ago; Phoenix: live order book, 63 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 Bulk live order book, 65 min ago | 19.96 bp | 23.5 bp −$23 | 23.5 bp −$235 | 116.8 bp −$11.7K | doesn't fit |
| Sell Phoenix live order book, 63 min ago | 1.20 bp | 12.9 bp −$13 | 44.5 bp −$445 | 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 | 0.02500 | −0.200% | $5K | $110 | 5.5x | as long as short |
| Phoenix MONshort | 0.0000% | 1h | 0.02510 | +0.188% | $13K | $349K | 5x | |
| Perpl MON | 0.0000% | 43m | 0.02506 | +0.048% | $126K | $2.2M | 10x | as long as short |
| Deribit MON_USDC-PERPETUAL | 0.0000% | 1h | 0.02506 | +0.044% | $73K | $138K | 25x | as long as short |
| Lighter MON | +0.0096% | 1h | 0.02508 | +0.120% | $804K | $785K | 10x | as long as short |
| Paradex MON-USD-PERP | +0.0100% | 8h | 0.02504 | −0.026% | $8K | $42 | 5x | as long as short |
| Nado MON-PERP | +0.0100% | 1h | 0.02508 | +0.137% | $394K | $578K | 10x | as long as short |
| Aster MONUSDT | +0.0100% | 4h | 0.02507 | +0.082% | $99K | $213K | 10x | as long as short |
| dYdX MON-USD | +0.0100% | 1h | 0.02510 | +0.190% | $13K | — | 5x | as long as short |
| Pacifica MON | +0.0100% | 1h | 0.02508 | +0.120% | $139K | $92K | 3x | as long as short |
Injective MON/USDC PERP
Perpl MON
Deribit MON_USDC-PERPETUAL
Lighter MON
Paradex MON-USD-PERP
Nado MON-PERP
Aster MONUSDT
dYdX MON-USD
Pacifica MONShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance MONUSDT | +0.0100% | 4h | 0.02505 | 0.000% | $23.8M | $27.6M | 75x | as long as short |
| Bybit MONUSDT | +0.0100% | 8h | 0.02504 | −0.048% | $20.8M | $13.8M | 50x | as long as short |
| OKX MON-USDT-SWAP | +0.0100% | 4h | 0.02505 | 0.000% | $4.2M | $6.2M | 50x | as long as short |
| Bulk MON-USDlong | +0.0100% | 1h | 0.02505 | long leg | $103K | −$0 | 10x | |
| Gate MON_USDT | +0.0100% | 4h | 0.02506 | +0.040% | $945K | $1.0M | 50x | as long as short |
| KuCoin MONUSDTM | +0.0100% | 4h | 0.02511 | +0.240% | $2.9M | $766K | 75x | as long as short |
| Bitget MONUSDT | +0.0100% | 4h | 0.02508 | +0.120% | $2.7M | $2.3M | 25x | as long as short |
| Backpack MON_USDC_PERP | +0.0100% | 1h | 0.02507 | +0.060% | $109K | $156K | 10x | as long as short |
| Variational Omni MON | +0.0100% | 8h | 0.02507 | +0.080% | $744K | $411K | — | as long as short |
| edgeX MONUSDC | +0.0100% | 4h | 0.02509 | +0.143% | $41K | $250K | 10x | as long as short |
| GRVT MON_USDT_Perp | +0.0100% | 4h | 0.02511 | +0.241% | $566K | $1.5M | 10x | as long as short |
| ApeX Omni MONUSDT | +0.0100% | 1h | 0.02510 | +0.200% | $68K | $538K | 50x | as long as short |
| Orderly PERP_MON_USDC | +0.0100% | 4h | 0.02507 | +0.080% | $16K | $42K | 10x | as long as short |
| SoDEX MON-USD | +0.0100% | 1h | 0.02506 | +0.040% | $5K | $6K | 5x | as long as short |
| Extended MON-USD | +0.0104% | 1h | 0.02508 | +0.133% | $47K | $314K | 10x | as long as short |
| Aevo MON-PERP | +0.0104% | 1h | 0.02506 | +0.048% | $38K | — | 3x | as long as short |
| GMX MON/USD [ETH-USDC] | L +0.0231% / S −0.0246% | 1h | 0.02506 | +0.040% | $6K | — | 50x | as long as short |
| Hyperliquid MON | +0.0271% | 1h | 0.02508 | +0.116% | $33.9M | $7.8M | 5x | as long as short |
| BloFin MON-USDT | +0.0340% | 4h | 0.02507 | +0.080% | $1.3M | $341K | 75x | as long as short |
| 01 Exchange MONUSD | +0.0344% | 1h | 0.02505 | −0.004% | $6K | $3K | 5x | as long as short |
| Aftermath Perps MONUSD | +0.0584% | 1h | 0.02507 | +0.071% | $5K | $101K | 10x | as long as short |
| Coinbase International MON-PERP-INTX | +0.0680% | 1h | 0.02515 | +0.391% | $111K | $55K | 50x | as long as short |
| Kraken Futures PF_MONUSD | +0.1201% | 1h | 0.02509 | +0.155% | $269K | $119K | 10x | as long as short |
Binance MONUSDT
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
Orderly PERP_MON_USDC
SoDEX MON-USD
Extended MON-USD
Aevo MON-PERP
GMX MON/USD [ETH-USDC]
Hyperliquid MON
BloFin MON-USDT
01 Exchange MONUSD
Aftermath Perps MONUSD
Coinbase International MON-PERP-INTX
Kraken Futures PF_MONUSD