Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0391%/8h= −42.8% APRpaid last 24h −0.182%

Price spread now: OKX against Kraken Futures−0.201%7-day average −0.143% · you buy dearer than you sell

Net, funding: paid 7d − costs−$171as in the Funding arb table

Net, price: spread back to 7d avg − costs−$119as in the Price arb table

costs, in and out, $10k−$1131.128% of the position

Long on Kraken Futures Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.581%−$58 on $10k

Price spread, last 4 days (all we have)−0.444%−$44 · spread now −0.201%, 7d avg −0.143%

Together, before fees−1.025%−$102 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and OKX is 0.059% cheaper against Kraken Futures than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.143%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_MONUSD	0.02534	0.0491	pay 0.0061% / 1h	27m 58s	$270K	$100K	10x
Short	OKX MON-USDT-SWAP	0.02529	0.0100	get 0.0050% / 4h	1h 27m	$4.2M	$5.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.201%Rate

Funding earned: −$82.09
Price spread: −0.201% → −0.143%: −$5.9
Slippage, 4 orders: −$92.83
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$200.83
Costs to cover: 1.128%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 35 min ago; OKX: 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, 35 min ago	27.57 bp	38.4 bp −$38	8295.1 bp −$83.0K	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	3.95 bp	19.8 bp −$20	90.3 bp −$903	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	−0.0316%	1h	0.02540	+0.233%	$13K	$367K	5x	as long as short
Injective MON/USDC PERP	−0.0253%	1h	0.02535	+0.035%	$6K	$111	5.5x	as long as short
Backpack MON_USDC_PERP	−0.0246%	1h	0.02533	−0.052%	$114K	$150K	10x	as long as short
Bybit MONUSDT	−0.0140%	8h	0.02529	−0.213%	$20.7M	$12.9M	50x	as long as short
01 Exchange MONUSD	0.0000%	1h	0.02531	−0.119%	$6K	$1K	5x	as long as short
Perpl MON	0.0000%	43m	0.02533	−0.044%	$105K	$2.3M	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02532	−0.099%	$68K	$125K	25x	as long as short
Orderly PERP_MON_USDC	+0.0085%	4h	0.02532	−0.083%	$16K	$51K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02532	−0.083%	$844K	$738K	10x	as long as short
Paradex MON-USD-PERP	+0.0099%	8h	0.02530	−0.162%	$8K	$42	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado MON-PERP	+0.0100%	1h	0.02534	−0.003%	$408K	$540K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02534	−0.020%	$34.3M	$7.4M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02532	−0.067%	$101K	$229K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02532	−0.078%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02532	−0.083%	$140K	$93K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02532	−0.083%	$24.1M	$26.1M	75x	as long as short
OKX MON-USDT-SWAPshort	+0.0100%	4h	0.02529	−0.201%	$4.2M	$5.8M	50x
Gate MON_USDT	+0.0100%	4h	0.02533	−0.044%	$952K	$928K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02536	+0.075%	$2.9M	$742K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02533	−0.044%	$2.7M	$2.0M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02535	+0.054%	$753K	$405K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02534	−0.022%	$42K	$250K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02540	+0.233%	$568K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02539	+0.193%	$68K	$502K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02531	−0.123%	$5K	$6K	5x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02530	−0.162%	$105K	$4K	10x	as long as short
Extended MON-USD	+0.0104%	1h	0.02533	−0.028%	$50K	$516K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02531	−0.134%	$38K	—	3x	as long as short
Aftermath Perps MONUSD	+0.0228%	1h	0.02534	+0.005%	$2K	$74K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02531	−0.119%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02534	−0.004%	$1.3M	$321K	75x	as long as short
Kraken Futures PF_MONUSDlong	+0.0491%	1h	0.02534	long leg	$270K	$100K	10x
Coinbase International MON-PERP-INTX	+0.0536%	1h	0.02542	+0.292%	$111K	$52K	50x	as long as short