Funding you earn now, next payment 11:00 UTC−0.0448%/8h= −49.1% APRnext payment −$0.56 per $10,000 · paid last 24h +0.014%
Price spread now: Deribit against Bulk−0.131%7-day average +0.039% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$87as in the Price arb table
costs, in and out, $10k−$700.703% of the position
Funding, last 4 days (all we have)+0.045%+$4 on $10k
+Price spread, last 4 days (all we have)+0.793%+$79 · spread now −0.131%, 7d avg +0.039%
=Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Deribit is 0.170% cheaper against Bulk than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of +0.039%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.045% in total (about 4.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.56 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bulk MON-USD | 0.02510 | 0.0100 | pay 0.0013% / 1h | 30m 13s | $103K | −$0 | 10x |
| Short | Deribit MON_USDC-PERPETUAL | 0.02507 | −0.0348 | pay 0.0044% / 1h | 30m 13s | $79K | $118K | 25x |
Bulk MON-USD
Deribit MON_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Bulk. 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
- −$94.09
- Price spread: −0.131% → +0.039%
- −$17.05
- Slippage, 4 orders
- −$56.31
- Fee Bulk: 3.5 bp × 2 orders
- −$7
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$181.44
- Costs to cover
- 0.703%
- Break-even
- never at this rate
Slippage from Bulk: live order book, 17 min ago; Deribit: live order book, 16 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 Bulk live order book, 17 min ago | 19.88 bp | 23.4 bp −$23 | 29.8 bp −$298 | 118.2 bp −$11.8K | doesn't fit |
| Sell Deribit live order book, 16 min ago | 6.57 bp | 10.1 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
MON on 33 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| 01 Exchange MONUSD | −0.0544% | 1h | 0.02502 | −0.315% | $6K | $2K | 5x | as long as short |
| Backpack MON_USDC_PERP | −0.0443% | 1h | 0.02508 | −0.100% | $113K | $151K | 10x | as long as short |
| Deribit MON_USDC-PERPETUALshort | −0.0348% | 1h | 0.02507 | −0.131% | $79K | $118K | 25x | |
| Injective MON/USDC PERP | −0.0246% | 1h | 0.02541 | +1.235% | $6K | $101 | 5.5x | as long as short |
| Bybit MONUSDT | −0.0103% | 8h | 0.02503 | −0.279% | $20.9M | $13.4M | 50x | as long as short |
| Phoenix MON | 0.0000% | 1h | 0.02499 | −0.430% | $12K | $281K | 5x | as long as short |
| Paradex MON-USD-PERP | +0.0053% | 8h | 0.02505 | −0.198% | $8K | $42 | 5x | as long as short |
| Lighter MON | +0.0096% | 1h | 0.02509 | −0.040% | $823K | $737K | 10x | as long as short |
| Nado MON-PERP | +0.0100% | 1h | 0.02508 | −0.080% | $398K | $576K | 10x | as long as short |
| Hyperliquid MON | +0.0100% | 1h | 0.02507 | −0.116% | $33.6M | $6.5M | 5x | as long as short |
01 Exchange MONUSD
Backpack MON_USDC_PERP
Injective MON/USDC PERP
Bybit MONUSDT
Phoenix MON
Paradex MON-USD-PERP
Lighter MON
Nado MON-PERP
Hyperliquid MONShow all 33 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster MONUSDT | +0.0100% | 4h | 0.02506 | −0.156% | $99K | $204K | 10x | as long as short |
| dYdX MON-USD | +0.0100% | 1h | 0.02508 | −0.060% | $13K | — | 5x | as long as short |
| Pacifica MON | +0.0100% | 1h | 0.02506 | −0.159% | $139K | $85K | 3x | as long as short |
| Binance MONUSDT | +0.0100% | 4h | 0.02507 | −0.120% | $24.1M | $26.4M | 75x | as long as short |
| OKX MON-USDT-SWAP | +0.0100% | 4h | 0.02504 | −0.239% | $4.2M | $5.9M | 50x | as long as short |
| Bulk MON-USDlong | +0.0100% | 1h | 0.02510 | long leg | $103K | −$0 | 10x | |
| Gate MON_USDT | +0.0100% | 4h | 0.02507 | −0.120% | $1.1M | $1.3M | 50x | as long as short |
| KuCoin MONUSDTM | +0.0100% | 4h | 0.02508 | −0.080% | $2.8M | $749K | 75x | as long as short |
| Bitget MONUSDT | +0.0100% | 4h | 0.02508 | −0.080% | $2.8M | $2.2M | 25x | as long as short |
| Variational Omni MON | +0.0100% | 8h | 0.02502 | −0.322% | $747K | $377K | — | as long as short |
| edgeX MONUSDC | +0.0100% | 4h | 0.02501 | −0.364% | $41K | $250K | 10x | as long as short |
| GRVT MON_USDT_Perp | +0.0100% | 4h | 0.02504 | −0.233% | $566K | $1.4M | 10x | as long as short |
| ApeX Omni MONUSDT | +0.0100% | 1h | 0.02505 | −0.199% | $68K | $548K | 50x | as long as short |
| Orderly PERP_MON_USDC | +0.0100% | 4h | 0.02507 | −0.120% | $16K | $36K | 10x | as long as short |
| SoDEX MON-USD | +0.0100% | 1h | 0.02506 | −0.159% | $5K | $6K | 5x | as long as short |
| Extended MON-USD | +0.0104% | 1h | 0.02508 | −0.071% | $57K | $320K | 10x | as long as short |
| Aevo MON-PERP | +0.0104% | 1h | 0.02505 | −0.195% | $38K | — | 3x | as long as short |
| GMX MON/USD [ETH-USDC] | L +0.0230% / S −0.0246% | 1h | 0.02508 | −0.092% | $6K | — | 50x | as long as short |
| BloFin MON-USDT | +0.0340% | 4h | 0.02501 | −0.359% | $1.4M | $387K | 75x | as long as short |
| Perpl MON | +0.0447% | 43m | 0.02507 | −0.127% | $116K | $2.1M | 10x | as long as short |
| Aftermath Perps MONUSD | +0.0514% | 1h | 0.02509 | −0.045% | $5K | $97K | 10x | as long as short |
| Kraken Futures PF_MONUSD | +0.0701% | 1h | 0.02508 | −0.060% | $271K | $123K | 10x | as long as short |
| Coinbase International MON-PERP-INTX | +0.0808% | 1h | 0.02507 | −0.104% | $106K | $55K | 50x | as long as short |
Aster MONUSDT
dYdX MON-USD
Pacifica MON
Binance 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
Extended MON-USD
Aevo MON-PERP
GMX MON/USD [ETH-USDC]
BloFin MON-USDT
Perpl MON
Aftermath Perps MONUSD
Kraken Futures PF_MONUSD
Coinbase International MON-PERP-INTX