Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0682%/8h= +74.7% APRpaid last 24h +0.192%

Price spread now: Kraken Futures against Gate+0.112%51s7-day average +0.096% · you sell dearer than you buy

Net, funding: paid 7d − costs−$61as 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−$1281.280% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.669%+$67 on $10k

Price spread, last 4 days (all we have)+0.451%+$45 · spread now +0.112%, 7d avg +0.096%

Together, before fees+1.120%+$112 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.096%, so right now this pair is about funding alone: +$20 a day on $10k at the current rate. The two prices were read 51 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	Gate MON_USDT	0.02557	0.0100	pay 0.0050% / 4h	3h 00m	$1.0M	$1.1M	50x
Short	Kraken Futures PF_MONUSD	0.02560	0.0782	get 0.0098% / 1h	0m 30s	$275K	$118K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now +0.112%Rate

Funding earned: $143.2
Price spread: +0.112% → +0.096%: $1.56
Slippage, 4 orders: −$103.02
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $16.74
Costs to cover: 1.280%
Break-even: 6.2 days

Slippage from Gate: live order book, 2 min ago; Kraken Futures: live order book, 32 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 Gate live order book, 2 min ago	3.91 bp	26.4 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 32 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	−0.0147%	1h	0.02557	−0.008%	$114K	$152K	10x	as long as short
Injective MON/USDC PERP	−0.0089%	1h	0.02505	−2.034%	$5K	$108	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02558	+0.023%	$14K	$346K	5x	as long as short
Lighter MON	+0.0096%	1h	0.02558	+0.039%	$833K	$781K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02557	−0.013%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02560	+0.136%	$393K	$577K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02560	+0.129%	$34.6M	$6.5M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02557	−0.003%	$101K	$202K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02557	+0.012%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02557	0.000%	$142K	$89K	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	0.02558	+0.036%	$24.6M	$26.8M	75x	as long as short
Bybit MONUSDT	+0.0100%	8h	0.02557	0.000%	$21.3M	$13.4M	50x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02558	+0.039%	$4.3M	$6.1M	50x	as long as short
Gate MON_USDTlong	+0.0100%	4h	0.02557	long leg	$1.0M	$1.1M	50x
KuCoin MONUSDTM	+0.0100%	4h	0.02557	0.000%	$2.9M	$757K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02558	+0.039%	$2.8M	$2.2M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02553	−0.175%	$759K	$376K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02562	+0.194%	$42K	$251K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02559	+0.078%	$580K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02560	+0.117%	$69K	$545K	50x	as long as short
Orderly PERP_MON_USDC	+0.0100%	4h	0.02557	0.000%	$16K	$36K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02556	−0.039%	$5K	$6K	5x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02542	−0.596%	$104K	−$0	10x	as long as short
Extended MON-USD	+0.0104%	1h	0.02560	+0.100%	$61K	$329K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02556	−0.059%	$39K	—	3x	as long as short
01 Exchange MONUSD	+0.0184%	1h	0.02560	+0.102%	$6K	$3K	5x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0231% / S −0.0246%	1h	0.02555	−0.098%	$7K	—	50x	as long as short
Deribit MON_USDC-PERPETUAL	+0.0337%	1h	0.02557	0.000%	$73K	$135K	25x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02561	+0.156%	$1.4M	$404K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02559	+0.066%	$119K	$2.1M	10x	as long as short
Aftermath Perps MONUSD	+0.0631%	1h	0.02557	+0.003%	$4K	$97K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0744%	1h	0.02575	+0.708%	$114K	$53K	50x	as long as short
Kraken Futures PF_MONUSDshort	+0.0782%	1h	0.02560	+0.112%	$275K	$118K	10x