Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0265%/8h= +29.0% APRpaid last 24h +0.025%

Price spread now: KuCoin against Deribit+0.210%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.065%−$7 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and KuCoin is 0.210% dearer against Deribit than usual: you sell high and buy low: +$21 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.065%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.065% in total (about -3.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MON_USDC-PERPETUAL	0.02574	0.0061	pay 0.0008% / 1h	32m 20s	$53K	$81K	25x
Short	KuCoin MONUSDTM	0.02579	0.0326	get 0.0163% / 4h	3h 32m	$3.1M	$787K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Deribit. 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 DeribitbpFee KuCoinbpOrdersPrice spread, now +0.210%Rate

Funding earned: $55.66
Price spread: +0.210% → 0.000%: $20.98
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $57.64
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: Deribit: no order-book sample; KuCoin: live order book, 15 min ago. Net counts fees only.

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 Deribit no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 15 min ago	7.88 bp	33.6 bp −$34	414.4 bp −$4,144	doesn't fit	doesn't fit

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0181%	1h	0.02557	−0.645%	$6K	$109	5.5x	as long as short
Bybit MONUSDT	−0.0057%	8h	0.02570	−0.140%	$21.4M	$11.5M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02568	−0.214%	$13K	$374K	5x	as long as short
Deribit MON_USDC-PERPETUALlong	+0.0061%	1h	0.02574	long leg	$53K	$81K	25x
01 Exchange MONUSD	+0.0064%	1h	0.02573	−0.019%	$6K	$1K	5x	as long as short
Lighter MON	+0.0096%	1h	0.02574	+0.016%	$842K	$750K	10x	as long as short
Orderly PERP_MON_USDC	+0.0096%	4h	0.02572	−0.062%	$17K	$64K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02572	−0.067%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02575	+0.050%	$320K	$507K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02574	+0.027%	$34.7M	$7.4M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster MONUSDT	+0.0100%	4h	0.02572	−0.052%	$107K	$240K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02575	+0.061%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02575	+0.035%	$146K	$103K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02572	−0.043%	$24.3M	$23.9M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02571	−0.101%	$4.4M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02565	−0.334%	$108K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02572	−0.062%	$976K	$919K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02573	−0.023%	$2.7M	$1.8M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02576	+0.089%	$133K	$136K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02575	+0.036%	$763K	$366K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02560	−0.513%	$47K	$242K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02563	−0.396%	$576K	$1.4M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02572	−0.062%	$68K	$483K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02572	−0.062%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02573	−0.011%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02583	+0.357%	$39K	—	3x	as long as short
BloFin MON-USDT	+0.0127%	4h	0.02567	−0.256%	$1.3M	$233K	75x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0598%	1h	0.02571	−0.089%	$8K	—	50x	as long as short
KuCoin MONUSDTMshort	+0.0326%	4h	0.02579	+0.210%	$3.1M	$787K	75x
Kraken Futures PF_MONUSD	+0.0331%	1h	0.02577	+0.114%	$257K	$58K	10x	as long as short
Perpl MON	+0.0447%	43m	0.02577	+0.124%	$212K	$1.7M	10x	as long as short
Aftermath Perps MONUSD	+0.0459%	1h	0.02563	−0.415%	$2K	$71K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0496%	1h	0.02586	+0.474%	$114K	$50K	50x	as long as short