Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.006%
Price spread now: Bybit against Phoenix+0.406%95s7-day average −0.141% · you sell dearer than you buy
Net, funding: paid 7d − costs−$58as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$720.715% of the position
Funding, last 7 days+0.138%+$14 on $10k
+Price spread, last 4 days (all we have)−1.147%−$115 · spread now +0.406%, 7d avg −0.141%
=Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Bybit is 0.547% dearer against Phoenix than usual: you sell high and buy low: +$55 more if the spread goes back to its 7-day average of −0.141%. The two prices were read 95 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix MON | 0.02536 | 0 | get 0.0000% / 1h | 13m 51s | $13K | $346K | 5x |
| Short | Bybit MONUSDT | 0.02546 | 0.0100 | get 0.0100% / 8h | 7h 13m | $21.3M | $13.5M | 50x |
Phoenix MON
Bybit MONUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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: +0.406% → −0.141%
- $54.73
- Slippage, 4 orders
- −$53.5
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- $4.23
- Costs to cover
- 0.715%
- Break-even
- 5.6 days
Slippage from Phoenix: live order book, 18 min ago; Bybit: live order book, 5 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, 18 min ago | 1.20 bp | 13.2 bp −$13 | 52.4 bp −$524 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 5 min ago | 3.94 bp | 19.4 bp −$19 | 63.4 bp −$634 | 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 | −0.0131% | 1h | 0.02546 | +0.418% | $113K | $150K | 10x | as long as short |
| Injective MON/USDC PERP | −0.0089% | 1h | 0.02505 | −1.211% | $5K | $108 | 5.5x | as long as short |
| Phoenix MONlong | 0.0000% | 1h | 0.02536 | long leg | $13K | $346K | 5x | |
| Deribit MON_USDC-PERPETUAL | 0.0000% | 1h | 0.02542 | +0.268% | $74K | $137K | 25x | as long as short |
| Lighter MON | +0.0096% | 1h | 0.02548 | +0.485% | $820K | $770K | 10x | as long as short |
| Paradex MON-USD-PERP | +0.0100% | 8h | 0.02539 | +0.127% | $8K | $42 | 5x | as long as short |
| Nado MON-PERP | +0.0100% | 1h | 0.02540 | +0.161% | $392K | $564K | 10x | as long as short |
| Hyperliquid MON | +0.0100% | 1h | 0.02549 | +0.532% | $34.4M | $6.8M | 5x | as long as short |
| Aster MONUSDT | +0.0100% | 4h | 0.02545 | +0.358% | $101K | $213K | 10x | as long as short |
| dYdX MON-USD | +0.0100% | 1h | 0.02541 | +0.196% | $13K | — | 5x | as long as short |
Backpack MON_USDC_PERP
Injective MON/USDC PERP
Deribit MON_USDC-PERPETUAL
Lighter MON
Paradex MON-USD-PERP
Nado MON-PERP
Hyperliquid MON
Aster MONUSDT
dYdX MON-USDShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica MON | +0.0100% | 1h | 0.02541 | +0.209% | $141K | $90K | 3x | as long as short |
| Binance MONUSDT | +0.0100% | 4h | 0.02547 | +0.440% | $24.4M | $26.9M | 75x | as long as short |
| Bybit MONUSDTshort | +0.0100% | 8h | 0.02546 | +0.406% | $21.3M | $13.5M | 50x | |
| OKX MON-USDT-SWAP | +0.0100% | 4h | 0.02547 | +0.446% | $4.2M | $6.2M | 50x | as long as short |
| Bulk MON-USD | +0.0100% | 1h | 0.02530 | −0.225% | $104K | −$0 | 10x | as long as short |
| Gate MON_USDT | +0.0100% | 4h | 0.02545 | +0.367% | $974K | $1.1M | 50x | as long as short |
| KuCoin MONUSDTM | +0.0100% | 4h | 0.02547 | +0.446% | $2.9M | $758K | 75x | as long as short |
| Bitget MONUSDT | +0.0100% | 4h | 0.02550 | +0.564% | $2.8M | $2.2M | 25x | as long as short |
| Variational Omni MON | +0.0100% | 8h | 0.02538 | +0.096% | $754K | $378K | — | as long as short |
| edgeX MONUSDC | +0.0100% | 4h | 0.02538 | +0.101% | $42K | $251K | 10x | as long as short |
| GRVT MON_USDT_Perp | +0.0100% | 4h | 0.02529 | −0.278% | $573K | $1.5M | 10x | as long as short |
| ApeX Omni MONUSDT | +0.0100% | 1h | 0.02543 | +0.288% | $69K | $546K | 50x | as long as short |
| Orderly PERP_MON_USDC | +0.0100% | 4h | 0.02543 | +0.288% | $16K | $36K | 10x | as long as short |
| SoDEX MON-USD | +0.0100% | 1h | 0.02542 | +0.248% | $5K | $6K | 5x | as long as short |
| Extended MON-USD | +0.0104% | 1h | 0.02548 | +0.467% | $58K | $326K | 10x | as long as short |
| Aevo MON-PERP | +0.0104% | 1h | 0.02543 | +0.272% | $38K | — | 3x | as long as short |
| 01 Exchange MONUSD | +0.0160% | 1h | 0.02537 | +0.035% | $6K | $3K | 5x | as long as short |
| GMX MON/USD [ETH-USDC] | L +0.0231% / S −0.0246% | 1h | 0.02543 | +0.308% | $6K | — | 50x | as long as short |
| BloFin MON-USDT | +0.0340% | 4h | 0.02540 | +0.170% | $1.3M | $375K | 75x | as long as short |
| Perpl MON | +0.0447% | 43m | 0.02537 | +0.047% | $118K | $2.1M | 10x | as long as short |
| Aftermath Perps MONUSD | +0.0543% | 1h | 0.02530 | −0.213% | $4K | $101K | 10x | as long as short |
| Coinbase International MON-PERP-INTX | +0.0744% | 1h | 0.02549 | +0.528% | $112K | $54K | 50x | as long as short |
| Kraken Futures PF_MONUSD | +0.0787% | 1h | 0.02544 | +0.343% | $273K | $118K | 10x | as long as short |
Pacifica MON
Binance MONUSDT
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
Orderly PERP_MON_USDC
SoDEX MON-USD
Extended MON-USD
Aevo MON-PERP
01 Exchange MONUSD
GMX MON/USD [ETH-USDC]
BloFin MON-USDT
Perpl MON
Aftermath Perps MONUSD
Coinbase International MON-PERP-INTX
Kraken Futures PF_MONUSD