MON

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0416%/8h= +45.6% APRnext payment +$0.52 per $10,000 · paid last 24h −0.001%

Price spread now: Bulk against Phoenix+0.123%111s7-day average −0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$730.726% of the position

Long on Phoenix Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.017%+$2 on $10k

Price spread, last 4 days (all we have)−0.859%−$86 · spread now +0.123%, 7d avg −0.054%

Together, before fees−0.842%−$84 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Bulk is 0.176% dearer against Phoenix than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of −0.054%. The two prices were read 111 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.017% in total (about 1.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.52 per $10,000. 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	Phoenix MON	0.02527	−0.0316	get 0.0040% / 1h	33m 39s	$13K	$367K	5x
Short	Bulk MON-USD	0.02530	0.0100	get 0.0013% / 1h	33m 39s	$105K	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Phoenix. 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 PhoenixbpFee BulkbpOrdersPrice spread, now +0.123%Rate

Funding earned: $87.38
Price spread: +0.123% → −0.054%: $17.63
Slippage, 4 orders: −$58.61
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $32.4
Costs to cover: 0.726%
Break-even: 4.4 days

Slippage from Phoenix: live order book, 27 min ago; Bulk: live order book, 30 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 Phoenix live order book, 27 min ago	1.18 bp	13.1 bp −$13	52.5 bp −$525	doesn't fit	doesn't fit
Sell Bulk live order book, 30 min ago	19.72 bp	23.2 bp −$23	39.8 bp −$398	112.9 bp −$11.3K	701.6 bp −$350.8K

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 MONlong	−0.0316%	1h	0.02527	long leg	$13K	$367K	5x
Backpack MON_USDC_PERP	−0.0261%	1h	0.02533	+0.222%	$114K	$151K	10x	as long as short
Injective MON/USDC PERP	−0.0253%	1h	0.02535	+0.321%	$6K	$111	5.5x	as long as short
Bybit MONUSDT	−0.0155%	8h	0.02532	+0.206%	$20.8M	$12.9M	50x	as long as short
01 Exchange MONUSD	−0.0008%	1h	0.02535	+0.336%	$6K	$1K	5x	as long as short
Perpl MON	0.0000%	43m	0.02532	+0.206%	$105K	$2.3M	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02531	+0.158%	$68K	$125K	25x	as long as short
Orderly PERP_MON_USDC	+0.0083%	4h	0.02531	+0.162%	$16K	$51K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02535	+0.321%	$845K	$738K	10x	as long as short
Paradex MON-USD-PERP	+0.0099%	8h	0.02535	+0.308%	$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
Hyperliquid MON	+0.0100%	1h	0.02534	+0.293%	$34.3M	$7.4M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02532	+0.195%	$101K	$229K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02530	+0.142%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02533	+0.241%	$140K	$93K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02533	+0.241%	$24.1M	$26.1M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02534	+0.281%	$4.2M	$5.8M	50x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02532	+0.202%	$954K	$926K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02535	+0.321%	$2.9M	$742K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02535	+0.321%	$2.7M	$2.0M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02531	+0.143%	$752K	$405K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02535	+0.317%	$42K	$250K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02538	+0.438%	$568K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02536	+0.360%	$68K	$501K	50x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02537	+0.389%	$408K	$541K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02531	+0.162%	$5K	$6K	5x	as long as short
Bulk MON-USDshort	+0.0100%	1h	0.02530	+0.123%	$105K	$4K	10x
Extended MON-USD	+0.0104%	1h	0.02536	+0.361%	$50K	$516K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02531	+0.162%	$38K	—	3x	as long as short
Aftermath Perps MONUSD	+0.0247%	1h	0.02532	+0.184%	$2K	$74K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02530	+0.139%	$9K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02539	+0.479%	$1.3M	$308K	75x	as long as short
Kraken Futures PF_MONUSD	+0.0491%	1h	0.02532	+0.208%	$270K	$100K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0536%	1h	0.02533	+0.226%	$111K	$52K	50x	as long as short