Funding you earn now, next payment 08:00 UTC−0.0089%/8h= −9.7% APRnext payment −$0.11 per $10,000 · paid last 24h −0.012%
Price spread now: Injective against Phoenix−1.888%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Injective is 1.888% cheaper against Phoenix than usual: you would sell low and buy high (−$189 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix MON | 0.02553 | 0 | get 0.0000% / 1h | 2m 00s | $14K | $346K | 5x |
| Short | Injective MON/USDC PERP | 0.02505 | −0.0089 | pay 0.0011% / 1h | 2m 00s | $5K | $108 | 5.5x |
Phoenix MON
Injective MON/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Phoenix. 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
- −$18.63
- Price spread: −1.888% → 0.000%
- −$188.78
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$214.43
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 30 min ago; Injective: no order-book sample. Net counts fees only.
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, 30 min ago | 1.20 bp | 13.2 bp −$13 | 52.4 bp −$524 | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0147% | 1h | 0.02556 | +0.121% | $114K | $152K | 10x | as long as short |
| Injective MON/USDC PERPshort | −0.0089% | 1h | 0.02505 | −1.888% | $5K | $108 | 5.5x | |
| Phoenix MONlong | 0.0000% | 1h | 0.02553 | long leg | $14K | $346K | 5x | |
| Lighter MON | +0.0096% | 1h | 0.02558 | +0.188% | $833K | $781K | 10x | as long as short |
| Paradex MON-USD-PERP | +0.0100% | 8h | 0.02555 | +0.087% | $8K | $42 | 5x | as long as short |
| Nado MON-PERP | +0.0100% | 1h | 0.02561 | +0.322% | $394K | $576K | 10x | as long as short |
| Hyperliquid MON | +0.0100% | 1h | 0.02558 | +0.188% | $34.5M | $6.5M | 5x | as long as short |
| Aster MONUSDT | +0.0100% | 4h | 0.02557 | +0.162% | $101K | $202K | 10x | as long as short |
| dYdX MON-USD | +0.0100% | 1h | 0.02557 | +0.161% | $13K | — | 5x | as long as short |
| Pacifica MON | +0.0100% | 1h | 0.02558 | +0.168% | $142K | $89K | 3x | as long as short |
Backpack MON_USDC_PERP
Lighter MON
Paradex MON-USD-PERP
Nado MON-PERP
Hyperliquid MON
Aster MONUSDT
dYdX MON-USD
Pacifica MONShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance MONUSDT | +0.0100% | 4h | 0.02555 | +0.081% | $24.6M | $26.9M | 75x | as long as short |
| Bybit MONUSDT | +0.0100% | 8h | 0.02553 | −0.008% | $21.3M | $13.5M | 50x | as long as short |
| OKX MON-USDT-SWAP | +0.0100% | 4h | 0.02555 | +0.070% | $4.3M | $6.2M | 50x | as long as short |
| Gate MON_USDT | +0.0100% | 4h | 0.02556 | +0.110% | $999K | $1.1M | 50x | as long as short |
| KuCoin MONUSDTM | +0.0100% | 4h | 0.02558 | +0.188% | $2.9M | $756K | 75x | as long as short |
| Bitget MONUSDT | +0.0100% | 4h | 0.02557 | +0.149% | $2.8M | $2.2M | 25x | as long as short |
| Variational Omni MON | +0.0100% | 8h | 0.02559 | +0.230% | $760K | $376K | — | as long as short |
| edgeX MONUSDC | +0.0100% | 4h | 0.02562 | +0.343% | $42K | $251K | 10x | as long as short |
| GRVT MON_USDT_Perp | +0.0100% | 4h | 0.02559 | +0.227% | $580K | $1.5M | 10x | as long as short |
| ApeX Omni MONUSDT | +0.0100% | 1h | 0.02560 | +0.266% | $69K | $545K | 50x | as long as short |
| Orderly PERP_MON_USDC | +0.0100% | 4h | 0.02557 | +0.149% | $16K | $36K | 10x | as long as short |
| SoDEX MON-USD | +0.0100% | 1h | 0.02556 | +0.110% | $5K | $6K | 5x | as long as short |
| Bulk MON-USD | +0.0100% | 1h | 0.02542 | −0.448% | $104K | −$0 | 10x | as long as short |
| Extended MON-USD | +0.0104% | 1h | 0.02560 | +0.265% | $61K | $329K | 10x | as long as short |
| Aevo MON-PERP | +0.0104% | 1h | 0.02557 | +0.129% | $39K | — | 3x | as long as short |
| 01 Exchange MONUSD | +0.0176% | 1h | 0.02558 | +0.184% | $6K | $3K | 5x | as long as short |
| Deribit MON_USDC-PERPETUAL | +0.0219% | 1h | 0.02558 | +0.196% | $73K | $135K | 25x | as long as short |
| GMX MON/USD [ETH-USDC] | L +0.0231% / S −0.0246% | 1h | 0.02554 | +0.043% | $7K | — | 50x | as long as short |
| BloFin MON-USDT | +0.0340% | 4h | 0.02561 | +0.305% | $1.4M | $404K | 75x | as long as short |
| Perpl MON | +0.0447% | 43m | 0.02560 | +0.282% | $119K | $2.1M | 10x | as long as short |
| Aftermath Perps MONUSD | +0.0603% | 1h | 0.02555 | +0.086% | $4K | $97K | 10x | as long as short |
| Coinbase International MON-PERP-INTX | +0.0744% | 1h | 0.02575 | +0.858% | $114K | $53K | 50x | as long as short |
| Kraken Futures PF_MONUSD | +0.0782% | 1h | 0.02558 | +0.205% | $275K | $118K | 10x | as long as short |
Binance MONUSDT
Bybit MONUSDT
OKX MON-USDT-SWAP
Gate MON_USDT
KuCoin MONUSDTM
Bitget MONUSDT
Variational Omni MON
edgeX MONUSDC
GRVT MON_USDT_Perp
ApeX Omni MONUSDT
Orderly PERP_MON_USDC
SoDEX MON-USD
Bulk MON-USD
Extended MON-USD
Aevo MON-PERP
01 Exchange MONUSD
Deribit MON_USDC-PERPETUAL
GMX MON/USD [ETH-USDC]
BloFin MON-USDT
Perpl MON
Aftermath Perps MONUSD
Coinbase International MON-PERP-INTX
Kraken Futures PF_MONUSD