To a link L in the 3-sphere, we associate a spectral sequence whose E^2 page
is the reduced Khovanov homology of L and which converges to a version of the
monopole Floer homology of the branched double cover. The pages E^k for k>1
depend only on the mutation equivalence class of L. We define a mod two grading
on the spectral sequence which interpolates between the delta grading on
Khovanov homology and the mod two grading on monopole Floer homology.