Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0695%/8h= −76.1% APRpaid last 24h −0.192%

Price spread now: Gate against Kraken Futures−0.105%7-day average −0.096% · you buy dearer than you sell

Net, funding: paid 7d − costs−$192as in the Funding arb table

Net, price: spread back to 7d avg − costs−$126as in the Price arb table

costs, in and out, $10k−$1251.253% of the position

Long on Kraken Futures Short on Gate

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)−0.458%−$46 · spread now −0.105%, 7d avg −0.096%

Together, before fees−1.127%−$113 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: −$21 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_MONUSD	0.02519	0.0795	pay 0.0099% / 1h	38m 00s	$270K	$118K	10x
Short	Gate MON_USDT	0.02516	0.0100	get 0.0050% / 4h	3h 38m	$945K	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.105%Rate

Funding earned: −$145.89
Price spread: −0.105% → −0.096%: −$0.86
Slippage, 4 orders: −$100.31
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$272.06
Costs to cover: 1.253%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 60 min ago; Gate: live order book, 4 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, 60 min ago	25.97 bp	34.1 bp −$34	8133.6 bp −$81.3K	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	5.96 bp	21.7 bp −$22	372.0 bp −$3,720	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	−0.0126%	1h	0.02518	−0.014%	$110K	$157K	10x	as long as short
Injective MON/USDC PERP	−0.0089%	1h	0.02505	−0.542%	$5K	$108	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02515	−0.129%	$13K	$346K	5x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02516	−0.109%	$73K	$137K	25x	as long as short
Lighter MON	+0.0096%	1h	0.02517	−0.065%	$808K	$765K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02512	−0.253%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02517	−0.069%	$391K	$572K	10x	as long as short
Hyperliquid MON	+0.0100%	1h	0.02519	−0.002%	$34.0M	$7.8M	5x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02517	−0.067%	$99K	$213K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02516	−0.121%	$13K	—	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica MON	+0.0100%	1h	0.02516	−0.117%	$139K	$91K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02517	−0.065%	$24.0M	$27.5M	75x	as long as short
Bybit MONUSDT	+0.0100%	8h	0.02515	−0.145%	$21.0M	$13.9M	50x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02516	−0.105%	$4.2M	$6.2M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02520	+0.038%	$103K	−$0	10x	as long as short
Gate MON_USDTshort	+0.0100%	4h	0.02516	−0.105%	$945K	$1.0M	50x
KuCoin MONUSDTM	+0.0100%	4h	0.02518	−0.026%	$2.9M	$768K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02519	+0.014%	$2.7M	$2.3M	25x	as long as short
Variational Omni MON	+0.0100%	8h	0.02514	−0.201%	$746K	$392K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02515	−0.139%	$41K	$250K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02519	+0.014%	$561K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02517	−0.065%	$68K	$543K	50x	as long as short
Orderly PERP_MON_USDC	+0.0100%	4h	0.02516	−0.105%	$16K	$40K	10x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02516	−0.105%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02520	+0.064%	$60K	$328K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02515	−0.129%	$38K	—	3x	as long as short
01 Exchange MONUSD	+0.0136%	1h	0.02515	−0.141%	$6K	$3K	5x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0231% / S −0.0246%	1h	0.02515	−0.133%	$6K	—	50x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02517	−0.065%	$1.3M	$372K	75x	as long as short
Perpl MON	+0.0447%	43m	0.02517	−0.069%	$119K	$2.2M	10x	as long as short
Aftermath Perps MONUSD	+0.0477%	1h	0.02517	−0.045%	$5K	$103K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0744%	1h	0.02525	+0.252%	$111K	$54K	50x	as long as short
Kraken Futures PF_MONUSDlong	+0.0795%	1h	0.02519	long leg	$270K	$118K	10x