Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.003%
Price spread now: Binance against Phoenix−0.148%7-day average −0.048% · you buy dearer than you sell
Net, funding: paid 7d − costs−$34as in the Funding arb table
Net, price: spread back to 7d avg − costs−$69as in the Price arb table
costs, in and out, $10k−$590.587% of the position
Funding, last 7 days+0.245%+$24 on $10k
+Price spread, last 4 days (all we have)−0.001%$0 · spread now −0.148%, 7d avg −0.048%
=Funding pays, the price is against you. Binance is 0.100% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.148% now, against its 7-day average of −0.048%). If the spread goes back, that is −$10 on $10k: about 3.3 days of funding at the current rate (+$3 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix MON | 0.02498 | 0 | get 0.0000% / 1h | 1m 07s | $12K | $358K | 5x |
| Short | Binance MONUSDT | 0.02494 | 0.0100 | get 0.0050% / 4h | 3h 01m | $23.7M | $27.0M | 75x |
Phoenix MON
Binance MONUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Phoenix. 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
- $21
- Price spread: −0.148% → −0.048%
- −$10.02
- Slippage, 4 orders
- −$41.71
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$47.73
- Costs to cover
- 0.587%
- Break-even
- 22.9 days
Slippage from Phoenix: live order book, 51 min ago; Binance: live order book, 10 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 Phoenix live order book, 51 min ago | 1.19 bp | 13.1 bp −$13 | 52.4 bp −$524 | doesn't fit | doesn't fit |
| Sell Binance live order book, 10 min ago | 2.00 bp | 18.5 bp −$18 | 61.5 bp −$615 | 288.6 bp −$28.9K | 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 | −0.0203% | 1h | 0.02515 | +0.693% | $5K | $114 | 5.5x | as long as short |
| Phoenix MONlong | 0.0000% | 1h | 0.02498 | long leg | $12K | $358K | 5x | |
| Deribit MON_USDC-PERPETUAL | 0.0000% | 1h | 0.02495 | −0.092% | $73K | $136K | 25x | as long as short |
| Backpack MON_USDC_PERP | +0.0007% | 1h | 0.02497 | −0.040% | $110K | $153K | 10x | as long as short |
| Bybit MONUSDT | +0.0010% | 8h | 0.02492 | −0.228% | $20.5M | $13.5M | 50x | as long as short |
| Orderly PERP_MON_USDC | +0.0079% | 4h | 0.02495 | −0.108% | $16K | $48K | 10x | as long as short |
| Lighter MON | +0.0096% | 1h | 0.02496 | −0.068% | $837K | $733K | 10x | as long as short |
| Paradex MON-USD-PERP | +0.0100% | 8h | 0.02493 | −0.181% | $7K | $42 | 5x | as long as short |
| Nado MON-PERP | +0.0100% | 1h | 0.02495 | −0.108% | $403K | $586K | 10x | as long as short |
| Hyperliquid MON | +0.0100% | 1h | 0.02496 | −0.080% | $33.6M | $7.5M | 5x | as long as short |
Injective MON/USDC PERP
Deribit MON_USDC-PERPETUAL
Backpack MON_USDC_PERP
Bybit MONUSDT
Orderly PERP_MON_USDC
Lighter MON
Paradex MON-USD-PERP
Nado MON-PERP
Hyperliquid MONShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster MONUSDT | +0.0100% | 4h | 0.02495 | −0.097% | $100K | $218K | 10x | as long as short |
| dYdX MON-USD | +0.0100% | 1h | 0.02495 | −0.097% | $12K | — | 5x | as long as short |
| Pacifica MON | +0.0100% | 1h | 0.02495 | −0.116% | $138K | $92K | 3x | as long as short |
| Binance MONUSDTshort | +0.0100% | 4h | 0.02494 | −0.148% | $23.7M | $27.0M | 75x | |
| OKX MON-USDT-SWAP | +0.0100% | 4h | 0.02494 | −0.148% | $4.2M | $6.0M | 50x | as long as short |
| Bulk MON-USD | +0.0100% | 1h | 0.02500 | +0.092% | $103K | $1K | 10x | as long as short |
| Gate MON_USDT | +0.0100% | 4h | 0.02495 | −0.108% | $932K | $993K | 50x | as long as short |
| KuCoin MONUSDTM | +0.0100% | 4h | 0.02500 | +0.092% | $2.9M | $762K | 75x | as long as short |
| Bitget MONUSDT | +0.0100% | 4h | 0.02497 | −0.028% | $2.7M | $2.2M | 25x | as long as short |
| Variational Omni MON | +0.0100% | 8h | 0.02492 | −0.246% | $739K | $403K | — | as long as short |
| edgeX MONUSDC | +0.0100% | 4h | 0.02496 | −0.065% | $41K | $251K | 10x | as long as short |
| GRVT MON_USDT_Perp | +0.0100% | 4h | 0.02502 | +0.173% | $563K | $1.5M | 10x | as long as short |
| ApeX Omni MONUSDT | +0.0100% | 1h | 0.02495 | −0.108% | $68K | $522K | 50x | as long as short |
| SoDEX MON-USD | +0.0100% | 1h | 0.02494 | −0.148% | $5K | $6K | 5x | as long as short |
| Extended MON-USD | +0.0104% | 1h | 0.02495 | −0.091% | $49K | $282K | 10x | as long as short |
| Aevo MON-PERP | +0.0104% | 1h | 0.02494 | −0.140% | $38K | — | 3x | as long as short |
| 01 Exchange MONUSD | +0.0192% | 1h | 0.02496 | −0.088% | $6K | $1K | 5x | as long as short |
| GMX MON/USD [ETH-USDC] | L +0.0259% / S −0.0429% | 1h | 0.02494 | −0.132% | $9K | — | 50x | as long as short |
| Aftermath Perps MONUSD | +0.0268% | 1h | 0.02500 | +0.105% | $2K | $78K | 10x | as long as short |
| BloFin MON-USDT | +0.0340% | 4h | 0.02494 | −0.148% | $1.3M | $337K | 75x | as long as short |
| Coinbase International MON-PERP-INTX | +0.0368% | 1h | 0.02530 | +1.293% | $110K | $56K | 50x | as long as short |
| Perpl MON | +0.0447% | 43m | 0.02496 | −0.056% | $114K | $2.2M | 10x | as long as short |
| Kraken Futures PF_MONUSD | +0.0730% | 1h | 0.02497 | −0.039% | $268K | $113K | 10x | as long as short |
Aster MONUSDT
dYdX MON-USD
Pacifica MON
OKX MON-USDT-SWAP
Bulk MON-USD
Gate MON_USDT
KuCoin MONUSDTM
Bitget MONUSDT
Variational Omni MON
edgeX MONUSDC
GRVT MON_USDT_Perp
ApeX Omni MONUSDT
SoDEX MON-USD
Extended MON-USD
Aevo MON-PERP
01 Exchange MONUSD
GMX MON/USD [ETH-USDC]
Aftermath Perps MONUSD
BloFin MON-USDT
Coinbase International MON-PERP-INTX
Perpl MON
Kraken Futures PF_MONUSD