Funding you earn now, next payment 02:00 UTC−0.0488%/8h= −53.4% APRnext payment −$0.61 per $10,000 · paid last 24h −0.131%
Price spread now: Injective against Backpack−1.156%72s7-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 −$15 a day on $10k at the current rate, and Injective is 1.156% cheaper against Backpack than usual: you would sell low and buy high (−$116 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 72 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 | Backpack MON_USDC_PERP | 0.02551 | 0.0100 | pay 0.0013% / 1h | 28m 09s | $121K | $158K | 10x |
| Short | Injective MON/USDC PERP | 0.02522 | −0.0388 | pay 0.0048% / 1h | 28m 09s | $5K | $108 | 5.5x |
Backpack MON_USDC_PERP
Injective MON/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Backpack. 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
- −$102.47
- Price spread: −1.156% → 0.000%
- −$115.62
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$228.11
- Costs to cover
- 0.100%
- Break-even
- never at this rate
Slippage unknown: Backpack: live order book, 40 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 Backpack live order book, 40 min ago | 1.35 bp | 11.1 bp −$11 | doesn't fit | 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 32 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 PERPshort | −0.0388% | 1h | 0.02522 | −1.156% | $5K | $108 | 5.5x | |
| Bybit MONUSDT | −0.0077% | 8h | 0.02547 | −0.176% | $20.9M | $12.8M | 50x | as long as short |
| 01 Exchange MONUSD | −0.0016% | 1h | 0.02544 | −0.278% | $6K | $1K | 5x | as long as short |
| Phoenix MON | 0.0000% | 1h | 0.02543 | −0.333% | $13K | $349K | 5x | as long as short |
| Orderly PERP_MON_USDC | +0.0061% | 4h | 0.02546 | −0.216% | $16K | $51K | 10x | as long as short |
| Lighter MON | +0.0096% | 1h | 0.02551 | −0.020% | $850K | $742K | 10x | as long as short |
| Paradex MON-USD-PERP | +0.0097% | 8h | 0.02544 | −0.283% | $8K | $42 | 5x | as long as short |
| Hyperliquid MON | +0.0100% | 1h | 0.02551 | 0.000% | $34.6M | $7.7M | 5x | as long as short |
| Aster MONUSDT | +0.0100% | 4h | 0.02543 | −0.333% | $102K | $229K | 10x | as long as short |
| dYdX MON-USD | +0.0100% | 1h | 0.02540 | −0.440% | $13K | — | 5x | as long as short |
Bybit MONUSDT
01 Exchange MONUSD
Phoenix MON
Orderly PERP_MON_USDC
Lighter MON
Paradex MON-USD-PERP
Hyperliquid MON
Aster MONUSDT
dYdX MON-USDShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica MON | +0.0100% | 1h | 0.02542 | −0.376% | $141K | $104K | 3x | as long as short |
| Binance MONUSDT | +0.0100% | 4h | 0.02548 | −0.132% | $24.3M | $26.0M | 75x | as long as short |
| OKX MON-USDT-SWAP | +0.0100% | 4h | 0.02547 | −0.176% | $4.3M | $5.9M | 50x | as long as short |
| Bulk MON-USD | +0.0100% | 1h | 0.02521 | −1.210% | $105K | $4K | 10x | as long as short |
| Gate MON_USDT | +0.0100% | 4h | 0.02547 | −0.176% | $955K | $902K | 50x | as long as short |
| KuCoin MONUSDTM | +0.0100% | 4h | 0.02550 | −0.059% | $2.9M | $744K | 75x | as long as short |
| Bitget MONUSDT | +0.0100% | 4h | 0.02550 | −0.059% | $2.7M | $2.0M | 25x | as long as short |
| Backpack MON_USDC_PERPlong | +0.0100% | 1h | 0.02551 | long leg | $121K | $158K | 10x | |
| Variational Omni MON | +0.0100% | 8h | 0.02533 | −0.721% | $753K | $419K | — | as long as short |
| edgeX MONUSDC | +0.0100% | 4h | 0.02534 | −0.703% | $43K | $249K | 10x | as long as short |
| GRVT MON_USDT_Perp | +0.0100% | 4h | 0.02529 | −0.882% | $568K | $1.5M | 10x | as long as short |
| ApeX Omni MONUSDT | +0.0100% | 1h | 0.02533 | −0.725% | $68K | $493K | 50x | as long as short |
| Nado MON-PERP | +0.0100% | 1h | 0.02546 | −0.219% | $408K | $545K | 10x | as long as short |
| SoDEX MON-USD | +0.0100% | 1h | 0.02549 | −0.098% | $5K | $6K | 5x | as long as short |
| Extended MON-USD | +0.0104% | 1h | 0.02547 | −0.159% | $51K | $517K | 10x | as long as short |
| Aevo MON-PERP | +0.0104% | 1h | 0.02549 | −0.118% | $39K | — | 3x | as long as short |
| Deribit MON_USDC-PERPETUAL | +0.0182% | 1h | 0.02549 | −0.082% | $69K | $125K | 25x | as long as short |
| GMX MON/USD [ETH-USDC] | L +0.0260% / S −0.0429% | 1h | 0.02546 | −0.223% | $9K | — | 50x | as long as short |
| Aftermath Perps MONUSD | +0.0352% | 1h | 0.02536 | −0.605% | $3K | $77K | 10x | as long as short |
| Perpl MON | +0.0447% | 43m | 0.02545 | −0.247% | $156K | $2.2M | 10x | as long as short |
| Coinbase International MON-PERP-INTX | +0.0744% | 1h | 0.02547 | −0.169% | $111K | $52K | 50x | as long as short |
| Kraken Futures PF_MONUSD | +0.0838% | 1h | 0.02554 | +0.097% | $278K | $88K | 10x | as long as short |
Pacifica MON
Binance MONUSDT
OKX MON-USDT-SWAP
Bulk MON-USD
Gate MON_USDT
KuCoin MONUSDTM
Bitget MONUSDT
Variational Omni MON
edgeX MONUSDC
GRVT MON_USDT_Perp
ApeX Omni MONUSDT
Nado MON-PERP
SoDEX MON-USD
Extended MON-USD
Aevo MON-PERP
Deribit MON_USDC-PERPETUAL
GMX MON/USD [ETH-USDC]
Aftermath Perps MONUSD
Perpl MON
Coinbase International MON-PERP-INTX
Kraken Futures PF_MONUSD