Funding you earn now, next payment 06:00 UTC−0.0192%/8h= −21.0% APRnext payment −$0.24 per $10,000 · paid last 24h +0.104%
Price spread now: Backpack against Injective−0.438%7-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 −$6 a day on $10k at the current rate, and Backpack is 0.438% cheaper against Injective than usual: you would sell low and buy high (−$44 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective MON/USDC PERP | 0.02489 | 0.0039 | pay 0.0005% / 1h | 22m 13s | $5K | $113 | 5.5x |
| Short | Backpack MON_USDC_PERP | 0.02478 | −0.0153 | pay 0.0019% / 1h | 22m 13s | $115K | $154K | 10x |
Injective MON/USDC PERP
Backpack MON_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Injective. 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
- −$40.26
- Price spread: −0.438% → 0.000%
- −$43.79
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$94.07
- Costs to cover
- 0.100%
- Break-even
- never at this rate
Slippage unknown: Injective: no order-book sample; Backpack: live order book, 26 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 Injective no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 26 min ago | 0.80 bp | 10.1 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
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 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_PERPshort | −0.0153% | 1h | 0.02478 | −0.438% | $115K | $154K | 10x | |
| Bybit MONUSDT | −0.0023% | 8h | 0.02486 | −0.121% | $20.4M | $13.6M | 50x | as long as short |
| 01 Exchange MONUSD | 0.0000% | 1h | 0.02483 | −0.229% | $6K | $1K | 5x | as long as short |
| Phoenix MON | 0.0000% | 1h | 0.02469 | −0.820% | $12K | $355K | 5x | as long as short |
| Deribit MON_USDC-PERPETUAL | 0.0000% | 1h | 0.02488 | −0.056% | $73K | $135K | 25x | as long as short |
| Injective MON/USDC PERPlong | +0.0039% | 1h | 0.02489 | long leg | $5K | $113 | 5.5x | |
| Orderly PERP_MON_USDC | +0.0083% | 4h | 0.02486 | −0.121% | $16K | $48K | 10x | as long as short |
| Lighter MON | +0.0096% | 1h | 0.02485 | −0.161% | $812K | $765K | 10x | as long as short |
| Paradex MON-USD-PERP | +0.0099% | 8h | 0.02477 | −0.472% | $7K | $42 | 5x | as long as short |
| Nado MON-PERP | +0.0100% | 1h | 0.02481 | −0.314% | $407K | $571K | 10x | as long as short |
Bybit MONUSDT
01 Exchange MONUSD
Phoenix MON
Deribit MON_USDC-PERPETUAL
Orderly PERP_MON_USDC
Lighter MON
Paradex MON-USD-PERP
Nado MON-PERPShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid MON | +0.0100% | 1h | 0.02483 | −0.249% | $33.3M | $7.6M | 5x | as long as short |
| Aster MONUSDT | +0.0100% | 4h | 0.02483 | −0.228% | $98K | $221K | 10x | as long as short |
| dYdX MON-USD | +0.0100% | 1h | 0.02478 | −0.426% | $12K | — | 5x | as long as short |
| Pacifica MON | +0.0100% | 1h | 0.02479 | −0.394% | $137K | $92K | 3x | as long as short |
| Binance MONUSDT | +0.0100% | 4h | 0.02485 | −0.179% | $23.6M | $27.4M | 75x | as long as short |
| OKX MON-USDT-SWAP | +0.0100% | 4h | 0.02488 | −0.040% | $4.1M | $6.1M | 50x | as long as short |
| Bulk MON-USD | +0.0100% | 1h | 0.02479 | −0.382% | $102K | $1K | 10x | as long as short |
| Gate MON_USDT | +0.0100% | 4h | 0.02483 | −0.241% | $928K | $1.0M | 50x | as long as short |
| KuCoin MONUSDTM | +0.0100% | 4h | 0.02484 | −0.201% | $2.9M | $764K | 75x | as long as short |
| Bitget MONUSDT | +0.0100% | 4h | 0.02487 | −0.080% | $2.7M | $2.2M | 25x | as long as short |
| Variational Omni MON | +0.0100% | 8h | 0.02467 | −0.880% | $729K | $407K | — | as long as short |
| edgeX MONUSDC | +0.0100% | 4h | 0.02467 | −0.884% | $41K | $250K | 10x | as long as short |
| GRVT MON_USDT_Perp | +0.0100% | 4h | 0.02476 | −0.522% | $550K | $1.5M | 10x | as long as short |
| ApeX Omni MONUSDT | +0.0100% | 1h | 0.02469 | −0.804% | $67K | $528K | 50x | as long as short |
| SoDEX MON-USD | +0.0100% | 1h | 0.02486 | −0.121% | $5K | $6K | 5x | as long as short |
| Extended MON-USD | +0.0104% | 1h | 0.02486 | −0.140% | $47K | $283K | 10x | as long as short |
| Aevo MON-PERP | +0.0104% | 1h | 0.02485 | −0.141% | $38K | — | 3x | as long as short |
| Aftermath Perps MONUSD | +0.0150% | 1h | 0.02477 | −0.498% | $5K | $81K | 10x | as long as short |
| GMX MON/USD [ETH-USDC] | L +0.0230% / S −0.0246% | 1h | 0.02485 | −0.169% | $6K | — | 50x | as long as short |
| BloFin MON-USDT | +0.0340% | 4h | 0.02474 | −0.603% | $1.3M | $346K | 75x | as long as short |
| Perpl MON | +0.0447% | 43m | 0.02481 | −0.305% | $113K | $2.2M | 10x | as long as short |
| Coinbase International MON-PERP-INTX | +0.0456% | 1h | 0.02530 | +1.647% | $110K | $54K | 50x | as long as short |
| Kraken Futures PF_MONUSD | +0.1022% | 1h | 0.02490 | +0.047% | $268K | $119K | 10x | as long as short |
Hyperliquid MON
Aster MONUSDT
dYdX MON-USD
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
SoDEX MON-USD
Extended MON-USD
Aevo MON-PERP
Aftermath Perps MONUSD
GMX MON/USD [ETH-USDC]
BloFin MON-USDT
Perpl MON
Coinbase International MON-PERP-INTX
Kraken Futures PF_MONUSD