Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0363%/8h= −39.8% APRpaid last 24h −0.190%

Price spread now: Gate against Kraken Futures−0.124%7-day average −0.097% · 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−$112as in the Price arb table

costs, in and out, $10k−$1091.089% of the position

Long on Kraken Futures Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.533%−$53 on $10k

Price spread, last 3 days (all we have)−0.085%−$8 · spread now −0.124%, 7d avg −0.097%

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

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Gate is 0.027% cheaper against Kraken Futures than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.097%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_MONUSD	0.02580	0.0463	pay 0.0058% / 1h	30m 54s	$271K	$78K	10x
Short	Gate MON_USDT	0.02577	0.0100	get 0.0050% / 4h	3h 30m	$982K	$904K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.124%Rate

Funding earned: −$76.24
Price spread: −0.124% → −0.097%: −$2.69
Slippage, 4 orders: −$83.89
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$187.82
Costs to cover: 1.089%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 42 min ago; Gate: live order book, 41 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, 42 min ago	17.59 bp	34.4 bp −$34	8258.4 bp −$82.6K	doesn't fit	doesn't fit
Sell Gate live order book, 41 min ago	7.83 bp	25.4 bp −$25	337.4 bp −$3,374	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	−0.0444%	1h	0.02576	−0.162%	$6K	$107	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02576	−0.147%	$13K	$351K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02578	−0.097%	$70K	$119K	25x	as long as short
Orderly PERP_MON_USDC	+0.0068%	4h	0.02575	−0.201%	$17K	$64K	10x	as long as short
01 Exchange MONUSD	+0.0088%	1h	0.02580	−0.023%	$6K	$1K	5x	as long as short
Lighter MON	+0.0096%	1h	0.02578	−0.085%	$859K	$754K	10x	as long as short
Paradex MON-USD-PERP	+0.0098%	8h	0.02577	−0.139%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02583	+0.093%	$394K	$535K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02579	−0.027%	$35.0M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02576	−0.144%	$107K	$231K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX MON-USD	+0.0100%	1h	0.02575	−0.198%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02577	−0.120%	$142K	$104K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02577	−0.124%	$24.7M	$25.6M	75x	as long as short
Bybit MONUSDT	+0.0100%	8h	0.02575	−0.201%	$21.4M	$12.2M	50x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02576	−0.162%	$4.3M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02575	−0.201%	$106K	$2K	10x	as long as short
Gate MON_USDTshort	+0.0100%	4h	0.02577	−0.124%	$982K	$904K	50x
Bitget MONUSDT	+0.0100%	4h	0.02577	−0.124%	$2.7M	$1.9M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02578	−0.093%	$128K	$141K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02575	−0.217%	$778K	$407K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02578	−0.092%	$44K	$248K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02581	+0.049%	$585K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02574	−0.240%	$69K	$486K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02576	−0.162%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02579	−0.029%	$49K	$520K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02577	−0.139%	$39K	—	3x	as long as short
KuCoin MONUSDTM	+0.0138%	4h	0.02580	−0.007%	$3.0M	$725K	75x	as long as short
Aftermath Perps MONUSD	+0.0149%	1h	0.02577	−0.108%	$4K	$76K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02577	−0.116%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02572	−0.317%	$1.4M	$307K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02577	−0.124%	$173K	$2.0M	10x	as long as short
Kraken Futures PF_MONUSDlong	+0.0463%	1h	0.02580	long leg	$271K	$78K	10x
Coinbase International MON-PERP-INTX	+0.0808%	1h	0.02577	−0.124%	$113K	$51K	50x	as long as short