Monad (MON) Perpetual Futures

The open-interest-weighted MON funding rate is -0.0366% per 8 hours, or -40.03% annualised. Negative funding means shorts pay longs. Across exchanges it ranges from -0.0875% on Kraken to +0.0050% on WhiteBIT. Compare all funding rates.

MON perpetual open interest is $89.23M (4.20B MON), down 8.80% in 24 hours. Hyperliquid holds the most at $33.00M. That is 35.32% of Monad's market cap.

Monad is an EVM-compatible layer 1 blockchain designed to process many transactions at once using parallel execution and its own consensus protocol, MonadBFT. Developers can deploy Ethereum contracts without rewriting them, while users get faster blocks and lower fees. MON pays for gas and is staked by validators.

Monad perps traded $36.04M in the last 24 hours, +8.01% on the day before. Binance leads with 29%, followed by WhiteBIT ($7.03M) and Hyperliquid ($7.01M).

Over the last 24 hours 36.2% of accounts are long and 63.8% short, a long/short ratio of 0.57. See the long/short ratio by exchange.

Monad runs the same smart contract environment as Ethereum but executes transactions in parallel and separates consensus from execution to raise throughput. It is an independent layer 1 with its own validators and token, so it does not settle to Ethereum the way a layer 2 rollup does.

Fresh listings attract heavy speculation while price discovery is still under way, and supply from airdrops and unlocks reaches the market at the same time. Leveraged longs and hedging shorts can crowd one side quickly, which pushes funding to extremes until the imbalance clears.

$302.0K of MON positions were liquidated in 24 hours, $301.7K longs and $334 shorts. Hyperliquid saw the most at $129.6K. See liquidations across the market.

Monad is developed by Monad Labs, whose co-founders include Keone Hon and James Hunsaker, both formerly of Jump Trading. The team set out to rebuild the execution and storage layers of an EVM chain for speed while keeping compatibility with Ethereum tooling.

MON perpetual futures are derivatives contracts that track the price of MON and never expire. Instead of settling on a date, they use a funding rate to stay close to the spot price. You can go long or short with leverage without holding any MON.

Funding is a payment between longs and shorts. When MON perps trade above the index price, funding is positive and longs pay shorts. When they trade below it, shorts pay longs. Most exchanges settle every 8 hours and some, including Hyperliquid, settle every hour.

MON perps trade on 9 tracked exchanges. By volume the largest are Binance, WhiteBIT and Hyperliquid. Compare fees and features on the best perpetual exchanges or the top decentralized perpetual exchanges.

Coinperps does not give trading advice. Funding, open interest, the long/short ratio and liquidations show how other traders are positioned, but crowded positioning can last longer than expected. Size positions so a liquidation would not hurt you.