MON

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0316%/8h= +34.6% APRnext payment +$0.40 per $10,000 · paid last 24h +0.018%

Price spread now: Deribit against Phoenix+0.067%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$610.614% of the position

Long on Phoenix Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.270%+$27 on $10k

Price spread, last 4 days (all we have)+0.404%+$40 · spread now +0.067%, 7d avg +0.004%

Together, before fees+0.674%+$67 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Deribit is 0.063% dearer against Phoenix than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix MON	0.02528	−0.0316	get 0.0040% / 1h	11m 05s	$12K	$367K	5x
Short	Deribit MON_USDC-PERPETUAL	0.02530	0	get 0.0000% / 1h	11m 05s	$68K	$125K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.067%Rate

Funding earned: $66.38
Price spread: +0.067% → +0.004%: $6.28
Slippage, 4 orders: −$47.37
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $11.29
Costs to cover: 0.614%
Break-even: 5.8 days

Slippage from Phoenix: live order book, 50 min ago; Deribit: live order book, 28 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, 50 min ago	1.18 bp	13.1 bp −$13	52.5 bp −$525	doesn't fit	doesn't fit
Sell Deribit live order book, 28 min ago	11.47 bp	15.0 bp −$15	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
Phoenix MONlong	−0.0316%	1h	0.02528	long leg	$12K	$367K	5x
Backpack MON_USDC_PERP	−0.0266%	1h	0.02531	+0.127%	$112K	$152K	10x	as long as short
Injective MON/USDC PERP	−0.0253%	1h	0.02528	−0.008%	$5K	$112	5.5x	as long as short
Bybit MONUSDT	−0.0146%	8h	0.02528	−0.008%	$20.8M	$13.1M	50x	as long as short
01 Exchange MONUSD	−0.0088%	1h	0.02524	−0.150%	$6K	$1K	5x	as long as short
Perpl MON	0.0000%	43m	0.02529	+0.024%	$105K	$2.3M	10x	as long as short
Deribit MON_USDC-PERPETUALshort	0.0000%	1h	0.02530	+0.067%	$68K	$125K	25x
Orderly PERP_MON_USDC	+0.0084%	4h	0.02528	−0.008%	$16K	$51K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02530	+0.071%	$844K	$738K	10x	as long as short
Paradex MON-USD-PERP	+0.0099%	8h	0.02524	−0.151%	$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
Nado MON-PERP	+0.0100%	1h	0.02528	+0.006%	$412K	$543K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02531	+0.127%	$34.2M	$7.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02527	−0.060%	$101K	$222K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02525	−0.136%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02526	−0.087%	$140K	$93K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02529	+0.032%	$24.0M	$26.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02528	−0.008%	$4.2M	$5.9M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02520	−0.308%	$103K	$5K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02527	−0.047%	$951K	$965K	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02527	−0.047%	$2.9M	$743K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02531	+0.111%	$2.7M	$2.1M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02523	−0.205%	$749K	$405K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02525	−0.120%	$41K	$249K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02526	−0.088%	$565K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02524	−0.166%	$68K	$504K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02529	+0.032%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02531	+0.114%	$48K	$518K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02528	−0.008%	$38K	—	3x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0260% / S −0.0429%	1h	0.02528	+0.012%	$9K	—	50x	as long as short
Aftermath Perps MONUSD	+0.0262%	1h	0.02529	+0.020%	$2K	$74K	10x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02526	−0.087%	$1.3M	$320K	75x	as long as short
Kraken Futures PF_MONUSD	+0.0491%	1h	0.02532	+0.152%	$270K	$113K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0536%	1h	0.02530	+0.071%	$111K	$57K	50x	as long as short