Funding arb · Price arb /

MON

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.1106%/8h= −121.1% APRpaid last 24h −0.124%

Price spread now: KuCoin against Kraken Futures+0.024%7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$217as in the Funding arb table

Net, price: spread back to 7d avg − costs−$152as in the Price arb table

costs, in and out, $10k−$1551.553% of the position

Long on Kraken Futures Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.619%−$62 on $10k

Price spread, last 4 days (all we have)−0.240%−$24 · spread now +0.024%, 7d avg −0.009%

Together, before fees−0.859%−$86 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.033% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.024% now, against its 7-day average of −0.009%): +$3 on $10k if it goes back. Holding the pair costs −$33 a day in funding at the current rate, which eats that in about 2 hours. At the pace of the last 7 days (−0.619% in total) that is about 9 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.619% in total (about -32.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_MONUSD	0.02500	0.1206	pay 0.0151% / 1h	54m 11s	$269K	$119K	10x
Short	KuCoin MONUSDTM	0.02501	0.0100	get 0.0050% / 4h	54m 11s	$2.9M	$766K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.024%Rate

Funding earned: −$232.17
Price spread: +0.024% → −0.009%: $3.29
Slippage, 4 orders: −$133.33
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$384.21
Costs to cover: 1.553%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 48 min ago; KuCoin: live order book, 3 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, 48 min ago	17.99 bp	28.8 bp −$29	8324.0 bp −$83.2K	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	8.00 bp	58.7 bp −$59	470.7 bp −$4,707	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	−0.0032%	1h	0.02500	−0.016%	$5K	$108	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02497	−0.144%	$13K	$349K	5x	as long as short
Perpl MON	0.0000%	43m	0.02503	+0.100%	$127K	$2.2M	10x	as long as short
Orderly PERP_MON_USDC	+0.0090%	4h	0.02501	+0.024%	$16K	$42K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02500	−0.016%	$802K	$785K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02499	−0.067%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02503	+0.106%	$393K	$577K	10x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02500	0.000%	$99K	$213K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02498	−0.100%	$12K	—	5x	as long as short
Pacifica MON	+0.0100%	1h	0.02500	−0.008%	$138K	$92K	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	0.02500	0.000%	$23.8M	$27.6M	75x	as long as short
Bybit MONUSDT	+0.0100%	8h	0.02498	−0.080%	$20.7M	$13.8M	50x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02498	−0.096%	$4.2M	$6.2M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02500	−0.016%	$103K	−$0	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02500	−0.016%	$931K	$1.0M	50x	as long as short
KuCoin MONUSDTMshort	+0.0100%	4h	0.02501	+0.024%	$2.9M	$766K	75x
Bitget MONUSDT	+0.0100%	4h	0.02503	+0.104%	$2.7M	$2.3M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02501	+0.008%	$109K	$156K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02488	−0.494%	$738K	$411K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02496	−0.177%	$41K	$250K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02498	−0.096%	$563K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02497	−0.136%	$68K	$535K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02499	−0.056%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02505	+0.177%	$48K	$276K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02499	−0.048%	$38K	—	3x	as long as short
Deribit MON_USDC-PERPETUAL	+0.0150%	1h	0.02501	+0.008%	$73K	$138K	25x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0230% / S −0.0246%	1h	0.02501	+0.008%	$6K	—	50x	as long as short
01 Exchange MONUSD	+0.0312%	1h	0.02503	+0.104%	$6K	$3K	5x	as long as short
Hyperliquid MON	+0.0325%	1h	0.02501	+0.012%	$33.8M	$7.8M	5x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02492	−0.336%	$1.3M	$346K	75x	as long as short
Aftermath Perps MONUSD	+0.0491%	1h	0.02499	−0.055%	$6K	$100K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0680%	1h	0.02505	+0.192%	$111K	$54K	50x	as long as short
Kraken Futures PF_MONUSDlong	+0.1206%	1h	0.02500	long leg	$269K	$119K	10x