Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0031%/8h= −3.4% APRpaid last 24h −0.209%

Price spread now: Aster against Kraken Futures−0.125%7-day average −0.066% · 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−$170as in the Price arb table

costs, in and out, $10k−$1641.636% of the position

Long on Kraken Futures Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.716%−$72 on $10k

Price spread, last 3 days (all we have)−0.111%−$11 · spread now −0.125%, 7d avg −0.066%

Together, before fees−0.828%+ Points / potential airdropAster: Stage 5 · farm board−$83 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Aster is 0.059% cheaper against Kraken Futures than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.066%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_MONUSD	0.02598	0.0131	pay 0.0016% / 1h	12m 10s	$268K	$67K	10x
Short	Aster MONUSDT	0.02595	0.0100	get 0.0050% / 4h	2h 12m	$108K	$233K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Kraken Futures. 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 Kraken FuturesbpFee AsterbpOrdersPrice spread, now −0.125%Rate

Funding earned: −$6.53
Price spread: −0.125% → −0.066%: −$5.88
Slippage, 4 orders: −$145.64
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$176.06
Costs to cover: 1.636%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 10 min ago; Aster: live order book, 9 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 Kraken Futures live order book, 10 min ago	28.77 bp	37.7 bp −$38	8171.5 bp −$81.7K	doesn't fit	doesn't fit
Sell Aster live order book, 9 min ago	17.30 bp	32.9 bp −$33	doesn't fit	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
Injective MON/USDC PERP	−0.0739%	1h	0.02599	+0.040%	$6K	$110	5.5x	as long as short
01 Exchange MONUSD	−0.0232%	1h	0.02591	−0.275%	$6K	$1K	5x	as long as short
Deribit MON_USDC-PERPETUAL	−0.0097%	1h	0.02594	−0.133%	$63K	$110K	25x	as long as short
Bybit MONUSDT	−0.0003%	8h	0.02590	−0.318%	$21.6M	$11.8M	50x	as long as short
Phoenix MON	0.0000%	1h	0.02599	+0.033%	$14K	$384K	5x	as long as short
Orderly PERP_MON_USDC	+0.0090%	4h	0.02593	−0.191%	$17K	$64K	10x	as long as short
Paradex MON-USD-PERP	+0.0095%	8h	0.02593	−0.204%	$8K	$42	5x	as long as short
Lighter MON	+0.0096%	1h	0.02595	−0.114%	$852K	$758K	10x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02597	−0.042%	$383K	$533K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02597	−0.044%	$35.0M	$7.5M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster MONUSDTshort	+0.0100%	4h	0.02595	−0.125%	$108K	$233K	10x
dYdX MON-USD	+0.0100%	1h	0.02598	+0.018%	$13K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02595	−0.114%	$143K	$106K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02592	−0.214%	$24.6M	$24.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02590	−0.306%	$4.4M	$6.0M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02602	+0.156%	$109K	$3K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02596	−0.075%	$1.0M	$935K	50x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02596	−0.075%	$2.8M	$1.8M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02596	−0.060%	$782K	$412K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02600	+0.092%	$48K	$244K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02598	+0.012%	$585K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02600	+0.079%	$69K	$480K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02593	−0.191%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02597	−0.049%	$52K	$407K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02593	−0.210%	$39K	—	3x	as long as short
BloFin MON-USDT	+0.0125%	4h	0.02599	+0.040%	$1.4M	$246K	75x	as long as short
Aftermath Perps MONUSD	+0.0130%	1h	0.02598	+0.006%	$2K	$73K	10x	as long as short
Kraken Futures PF_MONUSDlong	+0.0131%	1h	0.02598	long leg	$268K	$67K	10x
GMX MON/USD [ETH-USDC]	L +0.0261% / S −0.0598%	1h	0.02594	−0.137%	$9K	—	50x	as long as short
Backpack MON_USDC_PERP	+0.0302%	1h	0.02594	−0.141%	$138K	$137K	10x	as long as short
KuCoin MONUSDTM	+0.0382%	4h	0.02602	+0.156%	$3.2M	$747K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02594	−0.156%	$145K	$1.8M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0648%	1h	0.02607	+0.337%	$114K	$50K	50x	as long as short