Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0076%/8h= −8.3% APRpaid last 24h −0.182%

Price spread now: BloFin against Kraken Futures−0.205%7-day average −0.071% · you buy dearer than you sell

Net, funding: paid 7d − costs−$131as in the Funding arb table

Net, price: spread back to 7d avg − costs−$112as in the Price arb table

costs, in and out, $10k−$990.990% of the position

Long on Kraken Futures Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.319%−$32 on $10k

Price spread, last 3 days (all we have)+0.126%+$13 · spread now −0.205%, 7d avg −0.071%

Together, before fees−0.193%−$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and BloFin is 0.134% cheaper against Kraken Futures than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.071%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_MONUSD	0.02600	0.0416	pay 0.0052% / 1h	44m 24s	$273K	$78K	10x
Short	BloFin MON-USDT	0.02595	0.0340	get 0.0170% / 4h	44m 24s	$1.3M	$311K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.205%Rate

Funding earned: −$15.86
Price spread: −0.205% → −0.071%: −$13.38
Slippage, 4 orders: −$77.01
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$128.26
Costs to cover: 0.990%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 33 min ago; BloFin: live order book, 3 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, 33 min ago	21.33 bp	32.6 bp −$33	7808.6 bp −$78.1K	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	5.78 bp	14.1 bp −$14	36.7 bp −$367	155.7 bp −$15.6K	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	−0.0121%	1h	0.02575	−0.974%	$6K	$106	5.5x	as long as short
Bybit MONUSDT	−0.0053%	8h	0.02596	−0.166%	$21.5M	$12.0M	50x	as long as short
01 Exchange MONUSD	−0.0024%	1h	0.02600	−0.020%	$6K	$1K	5x	as long as short
Phoenix MON	0.0000%	1h	0.02589	−0.432%	$13K	$360K	5x	as long as short
Perpl MON	0.0000%	43m	0.02601	+0.015%	$128K	$1.8M	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02598	−0.097%	$70K	$119K	25x	as long as short
Aftermath Perps MONUSD	+0.0031%	1h	0.02592	−0.331%	$2K	$75K	10x	as long as short
Orderly PERP_MON_USDC	+0.0067%	4h	0.02596	−0.166%	$17K	$64K	10x	as long as short
Paradex MON-USD-PERP	+0.0092%	8h	0.02598	−0.076%	$8K	$42	5x	as long as short
Variational Omni MON	+0.0095%	8h	0.02591	−0.371%	$783K	$408K	—	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MON	+0.0096%	1h	0.02599	−0.051%	$863K	$793K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02604	+0.143%	$397K	$547K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02602	+0.065%	$35.2M	$7.6M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02598	−0.071%	$109K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02596	−0.164%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02599	−0.051%	$143K	$105K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02598	−0.081%	$24.7M	$25.2M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02596	−0.166%	$4.4M	$6.0M	50x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02598	−0.089%	$988K	$905K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02600	−0.012%	$2.8M	$1.8M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02597	−0.139%	$129K	$141K	10x	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02590	−0.386%	$48K	$244K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02590	−0.397%	$577K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02597	−0.128%	$69K	$481K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02596	−0.166%	$5K	$6K	5x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02588	−0.480%	$109K	$3K	10x	as long as short
Extended MON-USD	+0.0104%	1h	0.02604	+0.125%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02596	−0.151%	$39K	—	3x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02597	−0.116%	$9K	—	50x	as long as short
KuCoin MONUSDTM	+0.0268%	4h	0.02602	+0.065%	$3.0M	$715K	75x	as long as short
BloFin MON-USDTshort	+0.0340%	4h	0.02595	−0.205%	$1.3M	$311K	75x
Kraken Futures PF_MONUSDlong	+0.0416%	1h	0.02600	long leg	$273K	$78K	10x
Coinbase International MON-PERP-INTX	+0.0480%	1h	0.02609	+0.330%	$115K	$50K	50x	as long as short