Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0700%/8h= +76.7% APRpaid last 24h +0.192%

Price spread now: Kraken Futures against Gate+0.134%7-day average +0.096% · you sell dearer than you buy

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$117as in the Price arb table

costs, in and out, $10k−$1211.210% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.669%+$67 on $10k

Price spread, last 4 days (all we have)+0.429%+$43 · spread now +0.134%, 7d avg +0.096%

Together, before fees+1.098%+$110 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$21 a day on $10k at the current rate, and Kraken Futures is 0.038% dearer against Gate than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.096%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MON_USDT	0.02498	0.0100	pay 0.0050% / 4h	3h 27m	$939K	$1.0M	50x
Short	Kraken Futures PF_MONUSD	0.02501	0.0800	get 0.0100% / 1h	27m 01s	$269K	$118K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now +0.134%Rate

Funding earned: $147.04
Price spread: +0.134% → +0.096%: $3.78
Slippage, 4 orders: −$96.02
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $29.79
Costs to cover: 1.210%
Break-even: 5.6 days

Slippage from Gate: live order book, 5 min ago; Kraken Futures: live order book, 6 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 Gate live order book, 5 min ago	6.00 bp	21.1 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 6 min ago	29.99 bp	36.9 bp −$37	439.4 bp −$4,394	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
Backpack MON_USDC_PERP	−0.0144%	1h	0.02499	+0.028%	$111K	$157K	10x	as long as short
Injective MON/USDC PERP	−0.0089%	1h	0.02505	+0.280%	$5K	$108	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02498	−0.004%	$13K	$346K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02500	+0.080%	$73K	$137K	25x	as long as short
Lighter MON	+0.0096%	1h	0.02498	0.000%	$803K	$766K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02498	+0.019%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02501	+0.101%	$388K	$575K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02500	+0.072%	$33.7M	$7.8M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02500	+0.087%	$99K	$213K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02500	+0.063%	$12K	—	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica MON	+0.0100%	1h	0.02500	+0.084%	$138K	$91K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02499	+0.055%	$23.9M	$27.7M	75x	as long as short
Bybit MONUSDT	+0.0100%	8h	0.02499	+0.048%	$20.9M	$13.9M	50x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02498	0.000%	$4.2M	$6.2M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02492	−0.243%	$102K	−$0	10x	as long as short
Gate MON_USDTlong	+0.0100%	4h	0.02498	long leg	$939K	$1.0M	50x
KuCoin MONUSDTM	+0.0100%	4h	0.02502	+0.160%	$2.9M	$771K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02501	+0.120%	$2.7M	$2.3M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02497	−0.057%	$741K	$378K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02498	+0.002%	$41K	$252K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02498	+0.017%	$566K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02498	0.000%	$68K	$544K	50x	as long as short
Orderly PERP_MON_USDC	+0.0100%	4h	0.02500	+0.080%	$16K	$40K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02499	+0.040%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02503	+0.196%	$57K	$332K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02498	0.000%	$38K	—	3x	as long as short
01 Exchange MONUSD	+0.0128%	1h	0.02500	+0.092%	$6K	$3K	5x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0231% / S −0.0246%	1h	0.02500	+0.092%	$6K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02501	+0.120%	$1.3M	$369K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02501	+0.140%	$118K	$2.2M	10x	as long as short
Aftermath Perps MONUSD	+0.0480%	1h	0.02502	+0.176%	$5K	$103K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0744%	1h	0.02525	+1.081%	$111K	$53K	50x	as long as short
Kraken Futures PF_MONUSDshort	+0.0800%	1h	0.02501	+0.134%	$269K	$118K	10x