Funding you earn now, next payment 00:00 UTC+0.0462%/8h= +50.6% APRnext payment +$0.58 per $10,000 · paid last 24h +0.185%
Price spread now: Kraken Futures against Phoenix−0.228%71s7-day average +0.064% · you buy dearer than you sell
Net, funding: paid 7d − costs−$10as 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−$870.866% of the position
Funding, last 7 days+0.769%+$77 on $10k
+Price spread, last 3 days (all we have)+0.591%+$59 · spread now −0.228%, 7d avg +0.064%
=Funding pays, the price is against you. Kraken Futures is 0.291% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.228% now, against its 7-day average of +0.064%). If the spread goes back, that is −$29 on $10k: about 2.1 days of funding at the current rate (+$14 a day). The two prices were read 71 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 | Phoenix MON | 0.02592 | 0 | get 0.0000% / 1h | 3m 56s | $13K | $351K | 5x |
| Short | Kraken Futures PF_MONUSD | 0.02586 | 0.0462 | get 0.0058% / 1h | 3m 56s | $272K | $78K | 10x |
Phoenix MON
Kraken Futures PF_MONUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- $97.01
- Price spread: −0.228% → +0.064%
- −$29.14
- Slippage, 4 orders
- −$69.56
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$18.69
- Costs to cover
- 0.866%
- Break-even
- 8.3 days
Slippage from Phoenix: live order book, 2 min ago; Kraken Futures: live order book, 4 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, 2 min ago | 1.16 bp | 13.0 bp −$13 | 52.3 bp −$523 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 4 min ago | 21.19 bp | 30.5 bp −$30 | 581.6 bp −$5,816 | 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 | −0.0444% | 1h | 0.02570 | −0.860% | $6K | $108 | 5.5x | as long as short |
| 01 Exchange MONUSD | 0.0000% | 1h | 0.02583 | −0.359% | $6K | $1K | 5x | as long as short |
| Phoenix MONlong | 0.0000% | 1h | 0.02592 | long leg | $13K | $351K | 5x | |
| Orderly PERP_MON_USDC | +0.0063% | 4h | 0.02583 | −0.359% | $17K | $59K | 10x | as long as short |
| Paradex MON-USD-PERP | +0.0093% | 8h | 0.02584 | −0.313% | $8K | $42 | 5x | as long as short |
| Lighter MON | +0.0096% | 1h | 0.02584 | −0.320% | $861K | $755K | 10x | as long as short |
| Nado MON-PERP | +0.0100% | 1h | 0.02591 | −0.063% | $399K | $524K | 10x | as long as short |
| Hyperliquid MON | +0.0100% | 1h | 0.02586 | −0.255% | $35.2M | $7.5M | 5x | as long as short |
| Aster MONUSDT | +0.0100% | 4h | 0.02584 | −0.302% | $107K | $231K | 10x | as long as short |
| dYdX MON-USD | +0.0100% | 1h | 0.02588 | −0.176% | $13K | — | 5x | as long as short |
Injective MON/USDC PERP
01 Exchange MONUSD
Orderly PERP_MON_USDC
Paradex MON-USD-PERP
Lighter MON
Nado MON-PERP
Hyperliquid MON
Aster MONUSDT
dYdX MON-USDShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica MON | +0.0100% | 1h | 0.02587 | −0.197% | $143K | $103K | 3x | as long as short |
| Binance MONUSDT | +0.0100% | 4h | 0.02578 | −0.566% | $24.7M | $25.4M | 75x | as long as short |
| Bybit MONUSDT | +0.0100% | 8h | 0.02574 | −0.721% | $21.4M | $12.2M | 50x | as long as short |
| OKX MON-USDT-SWAP | +0.0100% | 4h | 0.02573 | −0.745% | $4.3M | $5.8M | 50x | as long as short |
| Bulk MON-USD | +0.0100% | 1h | 0.02595 | +0.104% | $108K | $4K | 10x | as long as short |
| Gate MON_USDT | +0.0100% | 4h | 0.02580 | −0.474% | $972K | $931K | 50x | as long as short |
| KuCoin MONUSDTM | +0.0100% | 4h | 0.02584 | −0.320% | $2.9M | $728K | 75x | as long as short |
| Bitget MONUSDT | +0.0100% | 4h | 0.02580 | −0.474% | $2.8M | $1.9M | 25x | as long as short |
| Backpack MON_USDC_PERP | +0.0100% | 1h | 0.02583 | −0.370% | $129K | $142K | 10x | as long as short |
| Variational Omni MON | +0.0100% | 8h | 0.02582 | −0.396% | $776K | $410K | — | as long as short |
| edgeX MONUSDC | +0.0100% | 4h | 0.02591 | −0.069% | $44K | $248K | 10x | as long as short |
| GRVT MON_USDT_Perp | +0.0100% | 4h | 0.02600 | +0.314% | $581K | $1.5M | 10x | as long as short |
| ApeX Omni MONUSDT | +0.0100% | 1h | 0.02599 | +0.258% | $69K | $487K | 50x | as long as short |
| SoDEX MON-USD | +0.0100% | 1h | 0.02582 | −0.397% | $5K | $6K | 5x | as long as short |
| Extended MON-USD | +0.0104% | 1h | 0.02586 | −0.253% | $49K | $517K | 10x | as long as short |
| Aevo MON-PERP | +0.0104% | 1h | 0.02583 | −0.359% | $39K | — | 3x | as long as short |
| Deribit MON_USDC-PERPETUAL | +0.0137% | 1h | 0.02584 | −0.305% | $70K | $119K | 25x | as long as short |
| Aftermath Perps MONUSD | +0.0210% | 1h | 0.02589 | −0.147% | $4K | $74K | 10x | as long as short |
| GMX MON/USD [ETH-USDC] | L +0.0261% / S −0.0598% | 1h | 0.02585 | −0.274% | $9K | — | 50x | as long as short |
| BloFin MON-USDT | +0.0340% | 4h | 0.02583 | −0.359% | $1.4M | $308K | 75x | as long as short |
| Perpl MON | +0.0447% | 43m | 0.02586 | −0.255% | $117K | $2.1M | 10x | as long as short |
| Kraken Futures PF_MONUSDshort | +0.0462% | 1h | 0.02586 | −0.228% | $272K | $78K | 10x | |
| Coinbase International MON-PERP-INTX | +0.0808% | 1h | 0.02608 | +0.613% | $114K | $52K | 50x | as long as short |
Pacifica MON
Binance MONUSDT
Bybit MONUSDT
OKX MON-USDT-SWAP
Bulk MON-USD
Gate MON_USDT
KuCoin MONUSDTM
Bitget MONUSDT
Backpack MON_USDC_PERP
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
Aftermath Perps MONUSD
GMX MON/USD [ETH-USDC]
BloFin MON-USDT
Perpl MON
Coinbase International MON-PERP-INTX