Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0743%/8h= −81.4% APRpaid last 24h −0.188%

Price spread now: Bitget against Kraken Futures−0.212%48s7-day average −0.058% · you buy dearer than you sell

Net, funding: paid 7d − costs−$162as 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−$970.971% of the position

Long on Kraken Futures Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.645%−$65 on $10k

Price spread, last 4 days (all we have)+0.028%+$3 · spread now −0.212%, 7d avg −0.058%

Together, before fees−0.617%−$62 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$22 a day on $10k at the current rate, and Bitget is 0.154% cheaper against Kraken Futures than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.058%). Swap the legs. The two prices were read 48 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	Kraken Futures PF_MONUSD	0.02507	0.0843	pay 0.0105% / 1h	2m 29s	$269K	$119K	10x
Short	Bitget MONUSDT	0.02502	0.0100	get 0.0050% / 4h	1h 02m	$2.7M	$2.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Kraken Futures. 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 Kraken FuturesbpFee BitgetbpOrdersPrice spread, now −0.212%Rate

Funding earned: −$156.02
Price spread: −0.212% → −0.058%: −$15.4
Slippage, 4 orders: −$75.08
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$268.5
Costs to cover: 0.971%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 40 min ago; Bitget: live order book, 5 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 Kraken Futures live order book, 40 min ago	17.99 bp	28.8 bp −$29	8324.0 bp −$83.2K	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	5.98 bp	21.6 bp −$22	64.1 bp −$641	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
Phoenix MON	0.0000%	1h	0.02505	−0.093%	$13K	$353K	5x	as long as short
Perpl MON	0.0000%	43m	0.02502	−0.192%	$126K	$2.2M	10x	as long as short
Orderly PERP_MON_USDC	+0.0089%	4h	0.02504	−0.133%	$16K	$48K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02503	−0.172%	$803K	$787K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02500	−0.297%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02505	−0.096%	$393K	$575K	10x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02504	−0.133%	$99K	$213K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02503	−0.164%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02502	−0.216%	$138K	$91K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02501	−0.250%	$23.8M	$27.6M	75x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit MONUSDT	+0.0100%	8h	0.02499	−0.332%	$20.7M	$13.8M	50x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02500	−0.292%	$4.2M	$6.2M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02500	−0.292%	$103K	−$0	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02504	−0.133%	$933K	$1.0M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02507	−0.013%	$2.9M	$766K	75x	as long as short
Bitget MONUSDTshort	+0.0100%	4h	0.02502	−0.212%	$2.7M	$2.3M	25x
Backpack MON_USDC_PERP	+0.0100%	1h	0.02507	−0.025%	$110K	$156K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02504	−0.150%	$743K	$411K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02505	−0.090%	$41K	$251K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02507	−0.015%	$565K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02506	−0.053%	$68K	$536K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02504	−0.133%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02505	−0.077%	$47K	$268K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02503	−0.164%	$38K	—	3x	as long as short
Injective MON/USDC PERP	+0.0109%	1h	0.02500	−0.292%	$5K	$113	5.5x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0230% / S −0.0246%	1h	0.02500	−0.272%	$6K	—	50x	as long as short
01 Exchange MONUSD	+0.0272%	1h	0.02503	−0.184%	$6K	$3K	5x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02506	−0.053%	$1.3M	$348K	75x	as long as short
Deribit MON_USDC-PERPETUAL	+0.0389%	1h	0.02505	−0.089%	$73K	$138K	25x	as long as short
Hyperliquid MON	+0.0426%	1h	0.02505	−0.105%	$33.9M	$7.8M	5x	as long as short
Aftermath Perps MONUSD	+0.0466%	1h	0.02503	−0.184%	$6K	$100K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0576%	1h	0.02511	+0.155%	$110K	$53K	50x	as long as short
Kraken Futures PF_MONUSDlong	+0.0843%	1h	0.02507	long leg	$269K	$119K	10x