Funding you earn now, next payment 03:05 UTC−0.0407%/8h= −44.6% APRpaid last 24h +0.125%
Price spread now: Backpack against Perpl+0.096%7-day average −0.021% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.532%+$53 on $10k
+Price spread, last 4 days (all we have)−0.195%−$20 · spread now +0.096%, 7d avg −0.021%
=Together, before fees+0.337%+ Points / potential airdropPerpl: Active · farm board+$34 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Backpack is 0.117% dearer against Perpl than usual: you sell high and buy low (spread +0.096% now, against its 7-day average of −0.021%): +$12 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 23 hours. Mind the row above: over the last 7 days funding on this pair paid +0.532%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Perpl MON | 0.02509 | 0 | get 0.0000% / 43m | 21m 29s | $107K | $2.3M | 10x |
| Short | Backpack MON_USDC_PERP | 0.02511 | −0.0407 | pay 0.0051% / 1h | 50m 29s | $111K | $151K | 10x |
Perpl MON
Backpack MON_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Perpl. 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
- −$85.44
- Price spread: +0.096% → −0.021%
- $11.69
- Slippage, 4 orders
- no order book: not counted
- Fee Perpl: 6.9 bp × 2 orders
- −$13.8
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$97.55
- Costs to cover
- 0.238%
- Break-even
- never at this rate
Slippage unknown: Perpl: no order-book sample; Backpack: live order book, 8 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 Perpl no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 8 min ago | 0.20 bp | 10.8 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
Perpl: 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 | −0.0407% | 1h | 0.02511 | +0.096% | $111K | $151K | 10x | |
| 01 Exchange MONUSD | −0.0376% | 1h | 0.02502 | −0.263% | $6K | $1K | 5x | as long as short |
| Injective MON/USDC PERP | −0.0176% | 1h | 0.02517 | +0.315% | $5K | $109 | 5.5x | as long as short |
| Deribit MON_USDC-PERPETUAL | −0.0148% | 1h | 0.02510 | +0.040% | $70K | $128K | 25x | as long as short |
| Bybit MONUSDT | −0.0142% | 8h | 0.02505 | −0.155% | $20.6M | $13.2M | 50x | as long as short |
| Phoenix MON | 0.0000% | 1h | 0.02520 | +0.438% | $12K | $359K | 5x | as long as short |
| Perpl MONlong | 0.0000% | 43m | 0.02509 | long leg | $107K | $2.3M | 10x | |
| Orderly PERP_MON_USDC | +0.0078% | 4h | 0.02508 | −0.044% | $16K | $41K | 10x | as long as short |
| Paradex MON-USD-PERP | +0.0094% | 8h | 0.02508 | −0.039% | $8K | $42 | 5x | as long as short |
| Variational Omni MON | +0.0095% | 8h | 0.02507 | −0.101% | $743K | $407K | — | as long as short |
01 Exchange MONUSD
Injective MON/USDC PERP
Deribit MON_USDC-PERPETUAL
Bybit MONUSDT
Phoenix MON
Orderly PERP_MON_USDC
Paradex MON-USD-PERP
Variational Omni MONShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter MON | +0.0096% | 1h | 0.02508 | −0.044% | $836K | $735K | 10x | as long as short |
| Nado MON-PERP | +0.0100% | 1h | 0.02510 | +0.024% | $425K | $553K | 10x | as long as short |
| Hyperliquid MON | +0.0100% | 1h | 0.02510 | +0.044% | $33.9M | $7.4M | 5x | as long as short |
| Aster MONUSDT | +0.0100% | 4h | 0.02512 | +0.131% | $101K | $222K | 10x | as long as short |
| dYdX MON-USD | +0.0100% | 1h | 0.02512 | +0.111% | $13K | — | 5x | as long as short |
| Pacifica MON | +0.0100% | 1h | 0.02510 | +0.036% | $139K | $92K | 3x | as long as short |
| Binance MONUSDT | +0.0100% | 4h | 0.02506 | −0.120% | $23.8M | $26.6M | 75x | as long as short |
| OKX MON-USDT-SWAP | +0.0100% | 4h | 0.02506 | −0.124% | $4.2M | $5.9M | 50x | as long as short |
| Bulk MON-USD | +0.0100% | 1h | 0.02515 | +0.223% | $103K | $5K | 10x | as long as short |
| Gate MON_USDT | +0.0100% | 4h | 0.02508 | −0.044% | $949K | $968K | 50x | as long as short |
| KuCoin MONUSDTM | +0.0100% | 4h | 0.02508 | −0.044% | $2.8M | $746K | 75x | as long as short |
| Bitget MONUSDT | +0.0100% | 4h | 0.02510 | +0.036% | $2.7M | $2.1M | 25x | as long as short |
| edgeX MONUSDC | +0.0100% | 4h | 0.02514 | +0.206% | $41K | $250K | 10x | as long as short |
| GRVT MON_USDT_Perp | +0.0100% | 4h | 0.02516 | +0.275% | $563K | $1.5M | 10x | as long as short |
| ApeX Omni MONUSDT | +0.0100% | 1h | 0.02517 | +0.315% | $68K | $505K | 50x | as long as short |
| SoDEX MON-USD | +0.0100% | 1h | 0.02508 | −0.044% | $5K | $6K | 5x | as long as short |
| Extended MON-USD | +0.0104% | 1h | 0.02509 | −0.003% | $52K | $517K | 10x | as long as short |
| Aevo MON-PERP | +0.0104% | 1h | 0.02508 | −0.040% | $38K | — | 3x | as long as short |
| GMX MON/USD [ETH-USDC] | L +0.0260% / S −0.0429% | 1h | 0.02510 | +0.048% | $9K | — | 50x | as long as short |
| Aftermath Perps MONUSD | +0.0276% | 1h | 0.02516 | +0.286% | $2K | $74K | 10x | as long as short |
| BloFin MON-USDT | +0.0340% | 4h | 0.02511 | +0.076% | $1.3M | $325K | 75x | as long as short |
| Coinbase International MON-PERP-INTX | +0.0408% | 1h | 0.02504 | −0.223% | $109K | $57K | 50x | as long as short |
| Kraken Futures PF_MONUSD | +0.0542% | 1h | 0.02511 | +0.094% | $269K | $116K | 10x | as long as short |
Lighter MON
Nado MON-PERP
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
edgeX MONUSDC
GRVT MON_USDT_Perp
ApeX Omni MONUSDT
SoDEX MON-USD
Extended MON-USD
Aevo MON-PERP
GMX MON/USD [ETH-USDC]
Aftermath Perps MONUSD
BloFin MON-USDT
Coinbase International MON-PERP-INTX
Kraken Futures PF_MONUSD