MON Funding Rate — live across 16 venues
25 DEX + 8 CEX · net of fees · updated continuously
Live annualized MON perpetual funding across all 16 venues Perpia tracks. Right now MON funding is positive on 13 and negative on 3, ranging from +56.7% on BackPack to -67.9% on KuCoin — a spread of 124.6%. The widest delta-neutral trade is long KuCoin / short BackPack at 120.7% net APR.
MON funding rate by venue
60 pairs scanned| Venue | Funding APR | Interval |
|---|---|---|
| BackPack | +56.7% | 1h |
| Extended | +11.4% | 1h |
| Bybit | +10.9% | 8h |
| Nado | +10.9% | 24h |
| OKX | +10.9% | 4h |
| Variational | +10.9% | 8h |
| Hyperliquid | +10.9% | 1h |
| Bitget | +10.9% | 4h |
| EdgeX | +10.9% | 4h |
| Pacifica | +10.9% | 1h |
| Sodex | +10.9% | 1h |
| Lighter | +10.5% | 8h |
| Gate.io | +0.7% | 4h |
| Binance | -1.4% | 8h |
| Aster | -27.0% | 1h |
| KuCoin | -67.9% | 4h |
Rates annualized; updated ~every few minutes from live venue data.
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MON funding — FAQ
Is MON funding positive right now?
MON perpetual funding is positive on 13 of 16 venues Perpia tracks and negative on 3. The highest is +56.7% on BackPack; the lowest is -67.9% on KuCoin.
What is the best MON funding arbitrage right now?
Go long KuCoin and short BackPack for about 120.7% net APR after fees — the widest delta-neutral MON spread Perpia currently sees.
Which exchange has the highest MON funding rate?
BackPack, at +56.7% annualized. Funding shifts continuously, so check the live table above before trading.
How MON funding arbitrage works
Funding-rate arbitrage is delta-neutral: you go long the venue paying the most negative funding and short the one paying the most positive, so price moves cancel and you collect the spread. The catch is liquidity — a huge APR on a thin book caps at a few thousand dollars and often flips within hours. Perpia shows the max size after slippage and tracks whether a spread holds, so you filter instead of chasing the number.