Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.1098%/8h= −120.3% APRpaid last 24h −0.123%

Price spread now: KuCoin against Kraken Futures−0.112%52s7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$239as 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−$1751.754% of the position

Long on Kraken Futures Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.636%−$64 on $10k

Price spread, last 4 days (all we have)−0.080%−$8 · spread now −0.112%, 7d avg −0.009%

Together, before fees−0.716%−$72 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$33 a day on $10k at the current rate, and KuCoin is 0.104% cheaper against Kraken Futures than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.009%). Swap the legs. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.636% in total (about -33.2% 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	Kraken Futures PF_MONUSD	0.02516	0.1198	pay 0.0150% / 1h	9m 25s	$270K	$118K	10x
Short	KuCoin MONUSDTM	0.02513	0.0100	get 0.0050% / 4h	9m 25s	$2.9M	$765K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.112%Rate

Funding earned: −$230.62
Price spread: −0.112% → −0.009%: −$10.35
Slippage, 4 orders: −$153.41
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$416.38
Costs to cover: 1.754%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 28 min ago; KuCoin: live order book, 8 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, 28 min ago	25.97 bp	34.1 bp −$34	8133.6 bp −$81.3K	doesn't fit	doesn't fit
Sell KuCoin live order book, 8 min ago	13.95 bp	51.6 bp −$52	478.9 bp −$4,789	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	−0.0032%	1h	0.02505	−0.430%	$5K	$113	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02508	−0.291%	$13K	$349K	5x	as long as short
Perpl MON	0.0000%	43m	0.02511	−0.176%	$122K	$2.1M	10x	as long as short
Deribit MON_USDC-PERPETUAL	+0.0029%	1h	0.02513	−0.096%	$73K	$138K	25x	as long as short
Lighter MON	+0.0096%	1h	0.02512	−0.152%	$805K	$785K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02510	−0.248%	$8K	$42	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02509	−0.285%	$99K	$213K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02510	−0.212%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02511	−0.208%	$139K	$91K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02509	−0.271%	$23.8M	$27.5M	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	0.02508	−0.291%	$20.9M	$13.9M	50x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02509	−0.271%	$4.2M	$6.2M	50x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02511	−0.192%	$940K	$1.1M	50x	as long as short
KuCoin MONUSDTMshort	+0.0100%	4h	0.02513	−0.112%	$2.9M	$765K	75x
Bitget MONUSDT	+0.0100%	4h	0.02511	−0.192%	$2.7M	$2.3M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02514	−0.089%	$110K	$157K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02506	−0.403%	$743K	$410K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02507	−0.357%	$41K	$250K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02508	−0.298%	$558K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02508	−0.311%	$68K	$543K	50x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02515	−0.024%	$394K	$578K	10x	as long as short
Orderly PERP_MON_USDC	+0.0100%	4h	0.02512	−0.152%	$16K	$42K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02513	−0.112%	$5K	$6K	5x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02500	−0.643%	$103K	−$0	10x	as long as short
Extended MON-USD	+0.0104%	1h	0.02513	−0.103%	$47K	$316K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02513	−0.128%	$38K	—	3x	as long as short
Hyperliquid MON	+0.0161%	1h	0.02513	−0.112%	$34.0M	$7.8M	5x	as long as short
01 Exchange MONUSD	+0.0216%	1h	0.02513	−0.120%	$6K	$3K	5x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0231% / S −0.0246%	1h	0.02512	−0.136%	$6K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02508	−0.311%	$1.3M	$334K	75x	as long as short
Aftermath Perps MONUSD	+0.0595%	1h	0.02507	−0.335%	$4K	$102K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0680%	1h	0.02515	−0.029%	$111K	$54K	50x	as long as short
Kraken Futures PF_MONUSDlong	+0.1198%	1h	0.02516	long leg	$270K	$118K	10x