Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.1109%/8h= +121.4% APRpaid last 24h +0.124%

Price spread now: Kraken Futures against KuCoin−0.161%7-day average +0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$96as in the Funding arb table

Net, price: spread back to 7d avg − costs−$175as in the Price arb table

costs, in and out, $10k−$1581.578% of the position

Long on KuCoin Short on Kraken Futures

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)+0.377%+$38 · spread now −0.161%, 7d avg +0.009%

Together, before fees+0.996%+$100 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.170% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.161% now, against its 7-day average of +0.009%). If the spread goes back, that is −$17 on $10k: about 12 hours of funding at the current rate (+$33 a day). At the pace of the last 7 days (+0.619% in total) that is about 46 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	KuCoin MONUSDTM	0.02498	0.0100	pay 0.0050% / 4h	56m 10s	$2.9M	$766K	75x
Short	Kraken Futures PF_MONUSD	0.02494	0.1209	get 0.0151% / 1h	56m 10s	$268K	$119K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against KuCoin. 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 KuCoinbpFee Kraken FuturesbpOrdersPrice spread, now −0.161%Rate

Funding earned: $232.82
Price spread: −0.161% → +0.009%: −$17
Slippage, 4 orders: −$135.82
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $58
Costs to cover: 1.578%
Break-even: 5.3 days

Slippage from KuCoin: live order book, 11 min ago; Kraken Futures: live order book, 46 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 KuCoin live order book, 11 min ago	7.97 bp	49.2 bp −$49	908.8 bp −$9,088	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 46 min ago	17.99 bp	34.6 bp −$35	432.3 bp −$4,323	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	+0.080%	$5K	$108	5.5x	as long as short
Phoenix MON	0.0000%	1h	0.02497	−0.048%	$13K	$349K	5x	as long as short
Perpl MON	0.0000%	43m	0.02492	−0.220%	$126K	$2.2M	10x	as long as short
Deribit MON_USDC-PERPETUAL	0.0000%	1h	0.02492	−0.244%	$72K	$138K	25x	as long as short
Orderly PERP_MON_USDC	+0.0090%	4h	0.02493	−0.200%	$16K	$42K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02493	−0.200%	$799K	$785K	10x	as long as short
Paradex MON-USD-PERP	+0.0100%	8h	0.02492	−0.225%	$7K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02497	−0.024%	$391K	$576K	10x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02493	−0.184%	$99K	$213K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02496	−0.085%	$12K	—	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	0.02496	−0.084%	$138K	$92K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02492	−0.240%	$23.7M	$27.5M	75x	as long as short
Bybit MONUSDT	+0.0100%	8h	0.02491	−0.280%	$20.7M	$13.8M	50x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02491	−0.280%	$4.2M	$6.1M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02500	+0.080%	$103K	−$0	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02492	−0.240%	$929K	$1.0M	50x	as long as short
KuCoin MONUSDTMlong	+0.0100%	4h	0.02498	long leg	$2.9M	$766K	75x
Bitget MONUSDT	+0.0100%	4h	0.02494	−0.160%	$2.7M	$2.3M	25x	as long as short
Backpack MON_USDC_PERP	+0.0100%	1h	0.02494	−0.172%	$109K	$156K	10x	as long as short
Variational Omni MON	+0.0100%	8h	0.02494	−0.178%	$741K	$411K	—	as long as short
edgeX MONUSDC	+0.0100%	4h	0.02496	−0.072%	$41K	$249K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02499	+0.040%	$564K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02496	−0.080%	$68K	$536K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02491	−0.280%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02494	−0.148%	$53K	$271K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02491	−0.292%	$38K	—	3x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0230% / S −0.0246%	1h	0.02491	−0.300%	$6K	—	50x	as long as short
Hyperliquid MON	+0.0270%	1h	0.02496	−0.076%	$33.8M	$7.8M	5x	as long as short
01 Exchange MONUSD	+0.0296%	1h	0.02493	−0.192%	$6K	$3K	5x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02498	0.000%	$1.3M	$347K	75x	as long as short
Aftermath Perps MONUSD	+0.0489%	1h	0.02498	+0.012%	$6K	$100K	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0680%	1h	0.02505	+0.288%	$111K	$54K	50x	as long as short
Kraken Futures PF_MONUSDshort	+0.1209%	1h	0.02494	−0.161%	$268K	$119K	10x