MON

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0848%/8h= −92.8% APRnext payment −$1.06 per $10,000 · paid last 24h −0.191%

Price spread now: Phoenix against Kraken Futures−0.225%71s7-day average −0.063% · you buy dearer than you sell

Net, funding: paid 7d − costs−$176as 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−$890.893% of the position

Long on Kraken Futures Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.865%−$86 on $10k

Price spread, last 4 days (all we have)−0.138%−$14 · spread now −0.225%, 7d avg −0.063%

Together, before fees−1.003%−$100 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$25 a day on $10k at the current rate, and Phoenix is 0.162% cheaper against Kraken Futures than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.063%). Swap the legs. The two prices were read 71 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	0.02493	0.0848	pay 0.0106% / 1h	30m 02s	$268K	$119K	10x
Short	Phoenix MON	0.02487	0	get 0.0000% / 1h	30m 02s	$13K	$353K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.225%Rate

Funding earned: −$178.05
Price spread: −0.225% → −0.063%: −$16.23
Slippage, 4 orders: −$72.32
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$283.59
Costs to cover: 0.893%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 13 min ago; Phoenix: live order book, 12 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, 13 min ago	17.99 bp	28.8 bp −$29	8324.0 bp −$83.2K	doesn't fit	doesn't fit
Sell Phoenix live order book, 12 min ago	1.20 bp	12.9 bp −$13	44.5 bp −$445	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 MONshort	0.0000%	1h	0.02487	−0.225%	$13K	$353K	5x
Bybit MONUSDT	+0.0064%	8h	0.02490	−0.113%	$20.5M	$13.7M	50x	as long as short
Orderly PERP_MON_USDC	+0.0085%	4h	0.02490	−0.113%	$16K	$48K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02491	−0.073%	$799K	$787K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02489	−0.136%	$7K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02494	+0.067%	$396K	$572K	10x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02490	−0.122%	$99K	$221K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02487	−0.236%	$12K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02491	−0.053%	$138K	$91K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02490	−0.113%	$23.7M	$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
OKX MON-USDT-SWAP	+0.0100%	4h	0.02490	−0.113%	$4.2M	$6.1M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02485	−0.313%	$102K	$1K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02490	−0.113%	$928K	$1.0M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02494	+0.048%	$2.9M	$764K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02490	−0.113%	$2.7M	$2.3M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02492	−0.025%	$109K	$156K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02489	−0.170%	$738K	$411K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02485	−0.298%	$41K	$251K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02488	−0.213%	$561K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02489	−0.153%	$68K	$536K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02490	−0.113%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02494	+0.043%	$48K	$266K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02490	−0.133%	$38K	—	3x	as long as short
Injective MON/USDC PERP	+0.0109%	1h	0.02489	−0.153%	$5K	$111	5.5x	as long as short
Aftermath Perps MONUSD	+0.0210%	1h	0.02492	−0.049%	$6K	$100K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0230% / S −0.0246%	1h	0.02491	−0.081%	$6K	—	50x	as long as short
01 Exchange MONUSD	+0.0232%	1h	0.02493	−0.008%	$7K	$2K	5x	as long as short
Deribit MON_USDC-PERPETUAL	+0.0272%	1h	0.02491	−0.073%	$72K	$138K	25x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02483	−0.394%	$1.3M	$346K	75x	as long as short
Hyperliquid MON	+0.0390%	1h	0.02494	+0.060%	$33.7M	$7.8M	5x	as long as short
Perpl MON	+0.0447%	43m	0.02491	−0.081%	$124K	$2.2M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0576%	1h	0.02496	+0.128%	$110K	$54K	50x	as long as short
Kraken Futures PF_MONUSDlong	+0.0848%	1h	0.02493	long leg	$268K	$119K	10x