Funding you earn now, next payment 05:00 UTC−0.0087%/8h= −9.5% APRpaid last 24h +0.091%
Price spread now: Backpack against OKX+0.140%46s7-day average +0.076% · you sell dearer than you buy
Net, funding: paid 7d − costs+$12as 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−$610.614% of the position
Funding, last 7 days+0.737%+$74 on $10k
+Price spread, last 4 days (all we have)−0.220%−$22 · spread now +0.140%, 7d avg +0.076%
=The price spread pays, funding is against you. Backpack is 0.064% dearer against OKX than usual: you sell high and buy low (spread +0.140% now, against its 7-day average of +0.076%): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.5 days. Mind the row above: over the last 7 days funding on this pair paid +0.737%, so the current rate has only just turned against you. The two prices were read 46 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 | OKX MON-USDT-SWAP | 0.02493 | 0.0100 | pay 0.0050% / 4h | 3h 02m | $4.2M | $6.0M | 50x |
| Short | Backpack MON_USDC_PERP | 0.02497 | 0.0013 | get 0.0002% / 1h | 2m 18s | $110K | $153K | 10x |
OKX MON-USDT-SWAP
Backpack MON_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against OKX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$18.21
- Price spread: +0.140% → +0.076%
- $6.44
- Slippage, 4 orders
- −$41.36
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$73.13
- Costs to cover
- 0.614%
- Break-even
- never at this rate
Slippage from OKX: live order book, 6 min ago; Backpack: live order book, 51 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 OKX live order book, 6 min ago | 4.00 bp | 16.2 bp −$16 | 70.7 bp −$707 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 51 min ago | 0.20 bp | 11.9 bp −$12 | doesn't fit | 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 | −0.0203% | 1h | 0.02515 | +0.882% | $5K | $114 | 5.5x | as long as short |
| Phoenix MON | 0.0000% | 1h | 0.02503 | +0.393% | $12K | $358K | 5x | as long as short |
| Bybit MONUSDT | +0.0009% | 8h | 0.02492 | −0.040% | $20.5M | $13.5M | 50x | as long as short |
| Backpack MON_USDC_PERPshort | +0.0013% | 1h | 0.02497 | +0.140% | $110K | $153K | 10x | |
| Orderly PERP_MON_USDC | +0.0079% | 4h | 0.02495 | +0.080% | $16K | $48K | 10x | as long as short |
| Lighter MON | +0.0096% | 1h | 0.02496 | +0.120% | $837K | $733K | 10x | as long as short |
| Paradex MON-USD-PERP | +0.0100% | 8h | 0.02494 | +0.030% | $7K | $42 | 5x | as long as short |
| Nado MON-PERP | +0.0100% | 1h | 0.02496 | +0.117% | $403K | $586K | 10x | as long as short |
| Hyperliquid MON | +0.0100% | 1h | 0.02494 | +0.060% | $33.6M | $7.5M | 5x | as long as short |
| Aster MONUSDT | +0.0100% | 4h | 0.02495 | +0.095% | $100K | $218K | 10x | as long as short |
Injective MON/USDC PERP
Phoenix MON
Bybit MONUSDT
Orderly PERP_MON_USDC
Lighter MON
Paradex MON-USD-PERP
Nado MON-PERP
Hyperliquid MON
Aster MONUSDTShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| dYdX MON-USD | +0.0100% | 1h | 0.02497 | +0.172% | $12K | — | 5x | as long as short |
| Pacifica MON | +0.0100% | 1h | 0.02495 | +0.096% | $138K | $92K | 3x | as long as short |
| Binance MONUSDT | +0.0100% | 4h | 0.02494 | +0.040% | $23.7M | $27.0M | 75x | as long as short |
| OKX MON-USDT-SWAPlong | +0.0100% | 4h | 0.02493 | long leg | $4.2M | $6.0M | 50x | |
| Bulk MON-USD | +0.0100% | 1h | 0.02500 | +0.281% | $103K | $1K | 10x | as long as short |
| Gate MON_USDT | +0.0100% | 4h | 0.02494 | +0.040% | $931K | $992K | 50x | as long as short |
| KuCoin MONUSDTM | +0.0100% | 4h | 0.02499 | +0.241% | $2.9M | $762K | 75x | as long as short |
| Bitget MONUSDT | +0.0100% | 4h | 0.02496 | +0.120% | $2.7M | $2.2M | 25x | as long as short |
| Variational Omni MON | +0.0100% | 8h | 0.02500 | +0.283% | $741K | $403K | — | as long as short |
| edgeX MONUSDC | +0.0100% | 4h | 0.02500 | +0.266% | $41K | $251K | 10x | as long as short |
| GRVT MON_USDT_Perp | +0.0100% | 4h | 0.02502 | +0.362% | $563K | $1.5M | 10x | as long as short |
| ApeX Omni MONUSDT | +0.0100% | 1h | 0.02502 | +0.361% | $68K | $522K | 50x | as long as short |
| SoDEX MON-USD | +0.0100% | 1h | 0.02495 | +0.080% | $5K | $6K | 5x | as long as short |
| Extended MON-USD | +0.0104% | 1h | 0.02494 | +0.054% | $51K | $280K | 10x | as long as short |
| Aevo MON-PERP | +0.0104% | 1h | 0.02494 | +0.040% | $38K | — | 3x | as long as short |
| Deribit MON_USDC-PERPETUAL | +0.0111% | 1h | 0.02496 | +0.100% | $73K | $136K | 25x | as long as short |
| 01 Exchange MONUSD | +0.0192% | 1h | 0.02494 | +0.028% | $6K | $1K | 5x | as long as short |
| GMX MON/USD [ETH-USDC] | L +0.0259% / S −0.0429% | 1h | 0.02494 | +0.060% | $9K | — | 50x | as long as short |
| Aftermath Perps MONUSD | +0.0272% | 1h | 0.02502 | +0.343% | $2K | $78K | 10x | as long as short |
| BloFin MON-USDT | +0.0340% | 4h | 0.02499 | +0.241% | $1.3M | $337K | 75x | as long as short |
| Coinbase International MON-PERP-INTX | +0.0368% | 1h | 0.02530 | +1.484% | $110K | $57K | 50x | as long as short |
| Perpl MON | +0.0447% | 43m | 0.02496 | +0.100% | $114K | $2.2M | 10x | as long as short |
| Kraken Futures PF_MONUSD | +0.0730% | 1h | 0.02498 | +0.186% | $268K | $113K | 10x | as long as short |
dYdX MON-USD
Pacifica MON
Binance MONUSDT
Bulk MON-USD
Gate MON_USDT
KuCoin MONUSDTM
Bitget MONUSDT
Variational Omni MON
edgeX MONUSDC
GRVT MON_USDT_Perp
ApeX Omni MONUSDT
SoDEX MON-USD
Extended MON-USD
Aevo MON-PERP
Deribit MON_USDC-PERPETUAL
01 Exchange MONUSD
GMX MON/USD [ETH-USDC]
Aftermath Perps MONUSD
BloFin MON-USDT
Coinbase International MON-PERP-INTX
Perpl MON
Kraken Futures PF_MONUSD