Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0318%/8h= +34.8% APRpaid last 24h +0.195%

Price spread now: Kraken Futures against OKX+0.169%7-day average +0.142% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$100as in the Price arb table

costs, in and out, $10k−$1021.025% of the position

Long on OKX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.541%+$54 on $10k

Price spread, last 3 days (all we have)+0.173%+$17 · spread now +0.169%, 7d avg +0.142%

Together, before fees+0.714%+$71 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Kraken Futures is 0.027% dearer against OKX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.142%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MON-USDT-SWAP	0.02583	0.0100	pay 0.0050% / 4h	43m 24s	$4.4M	$6.0M	50x
Short	Kraken Futures PF_MONUSD	0.02587	0.0418	get 0.0052% / 1h	43m 24s	$272K	$78K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against OKX. 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 OKXbpFee Kraken FuturesbpOrdersPrice spread, now +0.169%Rate

Funding earned: $66.7
Price spread: +0.169% → +0.142%: $2.68
Slippage, 4 orders: −$82.5
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$33.12
Costs to cover: 1.025%
Break-even: 10.5 days

Slippage from OKX: live order book, 4 min ago; Kraken Futures: live order book, 34 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, 4 min ago	1.92 bp	19.8 bp −$20	86.1 bp −$861	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 34 min ago	21.33 bp	32.7 bp −$33	571.4 bp −$5,714	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	−0.0121%	1h	0.02575	−0.310%	$6K	$106	5.5x	as long as short
Bybit MONUSDT	−0.0051%	8h	0.02584	+0.058%	$21.4M	$12.0M	50x	as long as short
01 Exchange MONUSD	−0.0016%	1h	0.02589	+0.225%	$6K	$1K	5x	as long as short
Phoenix MON	0.0000%	1h	0.02599	+0.631%	$14K	$360K	5x	as long as short
Perpl MON	0.0000%	43m	0.02590	+0.267%	$127K	$1.8M	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02585	+0.066%	$70K	$119K	25x	as long as short
Aftermath Perps MONUSD	+0.0030%	1h	0.02592	+0.347%	$2K	$75K	10x	as long as short
Orderly PERP_MON_USDC	+0.0067%	4h	0.02584	+0.039%	$17K	$64K	10x	as long as short
Paradex MON-USD-PERP	+0.0092%	8h	0.02590	+0.277%	$8K	$42	5x	as long as short
Variational Omni MON	+0.0095%	8h	0.02591	+0.297%	$783K	$408K	—	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter MON	+0.0096%	1h	0.02595	+0.465%	$862K	$793K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02593	+0.373%	$395K	$546K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02590	+0.271%	$35.0M	$7.6M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02591	+0.297%	$109K	$231K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02596	+0.490%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02595	+0.453%	$143K	$105K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02587	+0.159%	$24.6M	$25.2M	75x	as long as short
OKX MON-USDT-SWAPlong	+0.0100%	4h	0.02583	long leg	$4.4M	$6.0M	50x
Gate MON_USDT	+0.0100%	4h	0.02588	+0.194%	$985K	$905K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02586	+0.116%	$2.7M	$1.8M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02597	+0.538%	$129K	$141K	10x	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02594	+0.425%	$48K	$245K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02597	+0.536%	$588K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02596	+0.503%	$69K	$481K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02583	0.000%	$5K	$6K	5x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02588	+0.188%	$109K	$3K	10x	as long as short
Extended MON-USD	+0.0104%	1h	0.02590	+0.282%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02583	+0.012%	$39K	—	3x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02585	+0.097%	$9K	—	50x	as long as short
KuCoin MONUSDTM	+0.0268%	4h	0.02595	+0.465%	$3.0M	$716K	75x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02595	+0.465%	$1.3M	$311K	75x	as long as short
Kraken Futures PF_MONUSDshort	+0.0418%	1h	0.02587	+0.169%	$272K	$78K	10x
Coinbase International MON-PERP-INTX	+0.0480%	1h	0.02609	+1.003%	$115K	$50K	50x	as long as short