Funding arb · Price arb /

MON

all MON markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0742%/8h= +81.2% APRpaid last 24h +0.188%

Price spread now: Kraken Futures against Variational Omni−0.118%7-day average +0.215% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.653%+$65 on $10k

Price spread, last 4 days (all we have)+0.755%+$76 · spread now −0.118%, 7d avg +0.215%

Together, before fees+1.408%+ Points / potential airdropVariational Omni: Active · farm board+$141 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.332% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.118% now, against its 7-day average of +0.215%). If the spread goes back, that is −$33 on $10k: about 36 hours of funding at the current rate (+$22 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MON	0.02514	0.0100	pay 0.0100% / 8h	1h 56m	$746K	$413K	—
Short	Kraken Futures PF_MONUSD	0.02511	0.0842	get 0.0105% / 1h	56m 31s	$270K	$118K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Variational Omni. 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 Variational OmnibpFee Kraken FuturesbpOrdersPrice spread, now −0.118%Rate

Funding earned: $155.79
Price spread: −0.118% → +0.215%: −$33.24
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $112.55
Costs to cover: 0.100%
Break-even: 1.9 days

Slippage unknown: Variational Omni: RFQ quote, 53 min ago; Kraken Futures: live order book, 51 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 Variational Omni RFQ quote, 53 min ago	8.02 bp	doesn't fit	108.2 bp −$1,082	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 51 min ago	20.01 bp	32.2 bp −$32	439.2 bp −$4,392	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
Phoenix MON	0.0000%	1h	0.02517	+0.142%	$12K	$336K	5x	as long as short
Bybit MONUSDT	+0.0030%	8h	0.02507	−0.260%	$20.6M	$13.7M	50x	as long as short
Backpack MON_USDC_PERP	+0.0047%	1h	0.02510	−0.153%	$114K	$154K	10x	as long as short
Aftermath Perps MONUSD	+0.0058%	1h	0.02516	+0.108%	$6K	$98K	10x	as long as short
Orderly PERP_MON_USDC	+0.0084%	4h	0.02510	−0.141%	$16K	$48K	10x	as long as short
Lighter MON	+0.0096%	1h	0.02509	−0.180%	$809K	$782K	10x	as long as short
Paradex MON-USD-PERP	+0.0099%	8h	0.02506	−0.301%	$8K	$42	5x	as long as short
Nado MON-PERP	+0.0100%	1h	0.02513	−0.037%	$402K	$578K	10x	as long as short
Aster MONUSDT	+0.0100%	4h	0.02509	−0.161%	$99K	$221K	10x	as long as short
dYdX MON-USD	+0.0100%	1h	0.02510	−0.141%	$13K	—	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	0.02509	−0.176%	$139K	$93K	3x	as long as short
Binance MONUSDT	+0.0100%	4h	0.02508	−0.220%	$23.9M	$27.6M	75x	as long as short
OKX MON-USDT-SWAP	+0.0100%	4h	0.02508	−0.220%	$4.2M	$6.2M	50x	as long as short
Bulk MON-USD	+0.0100%	1h	0.02520	+0.252%	$103K	$1K	10x	as long as short
Gate MON_USDT	+0.0100%	4h	0.02508	−0.220%	$939K	$1.0M	50x	as long as short
KuCoin MONUSDTM	+0.0100%	4h	0.02514	+0.019%	$2.9M	$767K	75x	as long as short
Bitget MONUSDT	+0.0100%	4h	0.02509	−0.180%	$2.7M	$2.3M	25x	as long as short
Variational Omni MONlong	+0.0100%	8h	0.02514	long leg	$746K	$413K	—
edgeX MONUSDC	+0.0100%	4h	0.02513	−0.024%	$41K	$249K	10x	as long as short
GRVT MON_USDT_Perp	+0.0100%	4h	0.02519	+0.205%	$559K	$1.5M	10x	as long as short
ApeX Omni MONUSDT	+0.0100%	1h	0.02517	+0.138%	$68K	$532K	50x	as long as short
SoDEX MON-USD	+0.0100%	1h	0.02508	−0.220%	$5K	$6K	5x	as long as short
Extended MON-USD	+0.0104%	1h	0.02510	−0.142%	$53K	$262K	10x	as long as short
Aevo MON-PERP	+0.0104%	1h	0.02508	−0.212%	$38K	—	3x	as long as short
Injective MON/USDC PERP	+0.0109%	1h	0.02506	−0.300%	$5K	$108	5.5x	as long as short
Deribit MON_USDC-PERPETUAL	+0.0149%	1h	0.02509	−0.165%	$74K	$135K	25x	as long as short
GMX MON/USD [ETH-USDC]	L +0.0231% / S −0.0246%	1h	0.02509	−0.161%	$6K	—	50x	as long as short
01 Exchange MONUSD	+0.0312%	1h	0.02509	−0.188%	$7K	$2K	5x	as long as short
BloFin MON-USDT	+0.0340%	4h	0.02511	−0.101%	$1.3M	$348K	75x	as long as short
Hyperliquid MON	+0.0398%	1h	0.02512	−0.061%	$33.9M	$7.8M	5x	as long as short
Perpl MON	+0.0447%	43m	0.02510	−0.133%	$115K	$2.2M	10x	as long as short
Coinbase International MON-PERP-INTX	+0.0576%	1h	0.02542	+1.152%	$112K	$55K	50x	as long as short
Kraken Futures PF_MONUSDshort	+0.0842%	1h	0.02511	−0.118%	$270K	$118K	10x