Funding arb · Price arb /

MON

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0920%/8h= +100.7% APRpaid last 24h +0.123%

Price spread now: Kraken Futures against KuCoin−0.202%7-day average +0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$153as in the Price arb table

costs, in and out, $10k−$1311.314% of the position

Long on KuCoin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.596%+$60 on $10k

Price spread, last 4 days (all we have)+0.443%+$44 · spread now −0.202%, 7d avg +0.009%

Together, before fees+1.038%+$104 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.211% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.202% now, against its 7-day average of +0.009%). If the spread goes back, that is −$21 on $10k: about 18 hours of funding at the current rate (+$28 a day). At the pace of the last 7 days (+0.596% in total) that is about 2.5 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.596% in total (about 31.1% 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	KuCoin MONUSDTM	0.02500	0.0100	pay 0.0050% / 4h	2h 44m	$2.9M	$762K	75x
Short	Kraken Futures PF_MONUSD	0.02495	0.1020	get 0.0128% / 1h	44m 18s	$268K	$112K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against KuCoin. 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 KuCoinbpFee Kraken FuturesbpOrdersPrice spread, now −0.202%Rate

Funding earned: $193.21
Price spread: −0.202% → +0.009%: −$21.1
Slippage, 4 orders: −$109.43
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $40.68
Costs to cover: 1.314%
Break-even: 5.5 days

Slippage from KuCoin: live order book, 8 min ago; Kraken Futures: 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 KuCoin live order book, 8 min ago	13.98 bp	32.3 bp −$32	846.1 bp −$8,461	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	20.01 bp	32.2 bp −$32	439.2 bp −$4,392	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
Backpack MON_USDC_PERP	−0.0053%	1h	0.02493	−0.264%	$110K	$153K	10x	as long as short
Phoenix MON	0.0000%	1h	0.02494	−0.244%	$12K	$355K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02493	−0.284%	$73K	$136K	25x	as long as short
Bybit MONUSDT	+0.0009%	8h	0.02489	−0.428%	$20.5M	$13.5M	50x	as long as short
Injective MON/USDC PERP	+0.0039%	1h	0.02496	−0.160%	$5K	$111	5.5x	as long as short
Orderly PERP_MON_USDC	+0.0083%	4h	0.02493	−0.280%	$16K	$48K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02495	−0.200%	$837K	$732K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02492	−0.313%	$7K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02494	−0.228%	$405K	$587K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02493	−0.276%	$33.5M	$7.6M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster MONUSDT	+0.0100%	4h	0.02495	−0.186%	$100K	$218K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02496	−0.178%	$12K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02494	−0.256%	$138K	$92K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02492	−0.311%	$23.7M	$27.0M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02492	−0.320%	$4.2M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02500	0.000%	$103K	$1K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02494	−0.240%	$932K	$985K	50x	as long as short
KuCoin MONUSDTMlong	+0.0100%	4h	0.02500	long leg	$2.9M	$762K	75x
Bitget MONUSDT	+0.0100%	4h	0.02494	−0.240%	$2.7M	$2.2M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02490	−0.417%	$740K	$405K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02495	−0.181%	$41K	$251K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02498	−0.081%	$562K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02497	−0.120%	$68K	$526K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02492	−0.320%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02493	−0.286%	$48K	$285K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02491	−0.356%	$38K	—	3x	as long as short
01 Exchange MONUSD	+0.0112%	1h	0.02491	−0.340%	$6K	$1K	5x	as long as short
Aftermath Perps MONUSD	+0.0251%	1h	0.02496	−0.154%	$2K	$78K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0259% / S −0.0429%	1h	0.02492	−0.324%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02494	−0.240%	$1.3M	$336K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02494	−0.228%	$114K	$2.2M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0456%	1h	0.02530	+1.200%	$110K	$55K	50x	as long as short
Kraken Futures PF_MONUSDshort	+0.1020%	1h	0.02495	−0.202%	$268K	$112K	10x