Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0701%/8h= +76.8% APRpaid last 24h +0.192%

Price spread now: Kraken Futures against Variational Omni+0.096%7-day average +0.213% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.681%+$68 on $10k

Price spread, last 4 days (all we have)+0.547%+$55 · spread now +0.096%, 7d avg +0.213%

Together, before fees+1.228%+ Points / potential airdropVariational Omni: Active · farm board+$123 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.117% cheaper against Variational Omni than usual: you would sell low and buy high (spread +0.096% now, against its 7-day average of +0.213%). If the spread goes back, that is −$12 on $10k: about 13 hours of funding at the current rate (+$21 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MON	0.02497	0.0100	pay 0.0100% / 8h	7h 30m	$741K	$378K	—
Short	Kraken Futures PF_MONUSD	0.02499	0.0801	get 0.0100% / 1h	30m 16s	$268K	$118K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Variational Omni. 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 Variational OmnibpFee Kraken FuturesbpOrdersPrice spread, now +0.096%Rate

Funding earned: $147.2
Price spread: +0.096% → +0.213%: −$11.66
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $125.54
Costs to cover: 0.100%
Break-even: 1.0 days

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Kraken Futures: live order book, 2 min ago. 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 Variational Omni RFQ quote, 4 min ago	13.96 bp	doesn't fit	145.6 bp −$1,456	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 2 min ago	29.99 bp	36.9 bp −$37	439.4 bp −$4,394	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
Backpack MON_USDC_PERP	−0.0140%	1h	0.02500	+0.133%	$111K	$157K	10x	as long as short
Injective MON/USDC PERP	−0.0089%	1h	0.02505	+0.337%	$5K	$108	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02504	+0.301%	$13K	$346K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02496	−0.028%	$72K	$137K	25x	as long as short
Lighter MON	+0.0096%	1h	0.02498	+0.057%	$803K	$766K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02493	−0.130%	$7K	$42	5x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02496	−0.016%	$33.7M	$7.8M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02497	+0.001%	$99K	$213K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02499	+0.080%	$12K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02497	+0.008%	$138K	$91K	3x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance MONUSDT	+0.0100%	4h	0.02497	+0.016%	$23.8M	$27.7M	75x	as long as short
Bybit MONUSDT	+0.0100%	8h	0.02495	−0.064%	$20.8M	$13.9M	50x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02496	−0.024%	$4.2M	$6.2M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02520	+0.922%	$103K	−$0	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02496	−0.024%	$936K	$1.0M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02497	+0.016%	$2.9M	$771K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02497	+0.016%	$2.7M	$2.3M	25x	as long as short
Variational Omni MONlong	+0.0100%	8h	0.02497	long leg	$741K	$378K	—
edgeX MONUSDC	+0.0100%	4h	0.02503	+0.253%	$41K	$251K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02513	+0.657%	$559K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02505	+0.337%	$68K	$545K	50x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02497	+0.008%	$388K	$575K	10x	as long as short
Orderly PERP_MON_USDC	+0.0100%	4h	0.02495	−0.064%	$16K	$40K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02498	+0.057%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02497	+0.027%	$57K	$332K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02494	−0.104%	$38K	—	3x	as long as short
01 Exchange MONUSD	+0.0120%	1h	0.02495	−0.056%	$6K	$3K	5x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0230% / S −0.0246%	1h	0.02497	+0.029%	$6K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02500	+0.137%	$1.3M	$369K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02498	+0.041%	$118K	$2.2M	10x	as long as short
Aftermath Perps MONUSD	+0.0495%	1h	0.02506	+0.397%	$5K	$103K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0744%	1h	0.02525	+1.138%	$111K	$53K	50x	as long as short
Kraken Futures PF_MONUSDshort	+0.0801%	1h	0.02499	+0.096%	$268K	$118K	10x