Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0172%/8h= −18.9% APRpaid last 24h +0.050%

Price spread now: KuCoin against Deribit+0.120%7-day average +0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$112as in the Funding arb table

Net, price: spread back to 7d avg − costs−$105as in the Price arb table

costs, in and out, $10k−$1121.116% of the position

Long on Deribit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.009%−$1 on $10k

Price spread, last 4 days (all we have)−0.282%−$28 · spread now +0.120%, 7d avg +0.051%

Together, before fees−0.291%−$29 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.070% dearer against Deribit than usual: you sell high and buy low (spread +0.120% now, against its 7-day average of +0.051%): +$7 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 32 hours. At the pace of the last 7 days (−0.009% in total) that is about 53 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MON_USDC-PERPETUAL	0.02491	0.0272	pay 0.0034% / 1h	30m 00s	$72K	$138K	25x
Short	KuCoin MONUSDTM	0.02494	0.0100	get 0.0050% / 4h	1h 30m	$2.9M	$764K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Deribit. 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 DeribitbpFee KuCoinbpOrdersPrice spread, now +0.120%Rate

Funding earned: −$36.15
Price spread: +0.120% → +0.051%: $6.96
Slippage, 4 orders: −$92.59
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$140.78
Costs to cover: 1.116%
Break-even: never at this rate

Slippage from Deribit: live order book, 54 min ago; KuCoin: live order book, 7 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 Deribit live order book, 54 min ago	10.10 bp	13.6 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 7 min ago	8.00 bp	60.1 bp −$60	453.9 bp −$4,539	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
Phoenix MON	0.0000%	1h	0.02487	−0.153%	$13K	$353K	5x	as long as short
Bybit MONUSDT	+0.0064%	8h	0.02490	−0.040%	$20.5M	$13.7M	50x	as long as short
Orderly PERP_MON_USDC	+0.0085%	4h	0.02490	−0.040%	$16K	$48K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02491	0.000%	$799K	$787K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02489	−0.064%	$7K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02494	+0.140%	$396K	$572K	10x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02490	−0.050%	$99K	$221K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02487	−0.164%	$12K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02491	+0.020%	$138K	$91K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02490	−0.040%	$23.7M	$27.6M	75x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX MON-USDT-SWAP	+0.0100%	4h	0.02490	−0.040%	$4.2M	$6.1M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02485	−0.240%	$102K	$1K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02490	−0.040%	$928K	$1.0M	50x	as long as short
KuCoin MONUSDTMshort	+0.0100%	4h	0.02494	+0.120%	$2.9M	$764K	75x
Bitget MONUSDT	+0.0100%	4h	0.02490	−0.040%	$2.7M	$2.3M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02492	+0.048%	$109K	$156K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02489	−0.098%	$738K	$411K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02485	−0.226%	$41K	$251K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02488	−0.140%	$561K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02489	−0.080%	$68K	$536K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02490	−0.040%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02494	+0.116%	$48K	$266K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02490	−0.060%	$38K	—	3x	as long as short
Injective MON/USDC PERP	+0.0109%	1h	0.02489	−0.080%	$5K	$111	5.5x	as long as short
Aftermath Perps MONUSD	+0.0210%	1h	0.02492	+0.024%	$6K	$100K	10x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0230% / S −0.0246%	1h	0.02491	−0.008%	$6K	—	50x	as long as short
01 Exchange MONUSD	+0.0232%	1h	0.02493	+0.064%	$7K	$2K	5x	as long as short
Deribit MON_USDC-PERPETUALlong	+0.0272%	1h	0.02491	long leg	$72K	$138K	25x
BloFin MON-USDT	+0.0340%	4h	0.02483	−0.321%	$1.3M	$346K	75x	as long as short
Hyperliquid MON	+0.0390%	1h	0.02494	+0.132%	$33.7M	$7.8M	5x	as long as short
Perpl MON	+0.0447%	43m	0.02491	−0.008%	$124K	$2.2M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0576%	1h	0.02496	+0.201%	$110K	$54K	50x	as long as short
Kraken Futures PF_MONUSD	+0.0848%	1h	0.02493	+0.073%	$268K	$119K	10x	as long as short