Funding arb · Price arb /

MANTA

all MANTA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0059%/8h= −6.5% APRpaid last 24h +0.004%

Price spread now: Bitget against Hyperliquid−0.168%7-day average −0.023% · you buy dearer than you sell

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

Long on Hyperliquid Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.084%+$8 on $10k

Price spread, last 4 days (all we have)+0.331%+$33 · spread now −0.168%, 7d avg −0.023%

Together, before fees+0.415%+ Points / potential airdropHyperliquid: Season 2 · farm board+$42 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bitget is 0.145% cheaper against Hyperliquid than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.023%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.084%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid MANTA	0.07123	0.0319	pay 0.0040% / 1h	57m 15s	$476K	$234K	3x
Short	Bitget MANTAUSDT	0.07111	0.0260	get 0.0130% / 4h	57m 15s	$3.2M	$396K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Hyperliquid. 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 HyperliquidbpFee BitgetbpOrdersPrice spread, now −0.168%Rate

Funding earned: −$12.47
Price spread: −0.168% → −0.023%: −$14.52
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$47.99
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 42 min ago; Bitget: live order book, just now. 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 Hyperliquid live order book, 42 min ago	0.70 bp	19.8 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, just now	7.72 bp	34.6 bp −$35	91.9 bp −$919	doesn't fit	doesn't fit

MANTA on 12 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
Injective MANTA/USDC PERP	−0.3997%	1h	0.07031	−1.292%	$2K	$40K	5.5x	as long as short
BloFin MANTA-USDT	+0.0052%	4h	0.07117	−0.084%	$327K	$23K	50x	as long as short
Aster MANTAUSDT	+0.0100%	4h	0.07107	−0.227%	$5K	$7K	5x	as long as short
Binance MANTAUSDT	+0.0100%	4h	0.07108	−0.209%	$5.6M	$4.5M	50x	as long as short
Bybit MANTAUSDT	+0.0100%	4h	0.07107	−0.225%	$3.3M	$812K	25x	as long as short
Gate MANTA_USDT	+0.0100%	4h	0.07105	−0.253%	$218K	$129K	50x	as long as short
MEXC MANTA_USDT	+0.0100%	4h	0.07110	−0.183%	$13.7M	$602K	50x	as long as short
KuCoin MANTAUSDTM	+0.0100%	4h	0.07098	−0.351%	$237K	$53K	50x	as long as short
Variational Omni MANTA	+0.0100%	4h	0.07120	−0.049%	$17K	$3K	—	as long as short
Bitget MANTAUSDTshort	+0.0260%	4h	0.07111	−0.168%	$3.2M	$396K	50x

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX MANTA-USDT	+0.0268%	4h	0.07109	−0.197%	—	$1.5M	—	as long as short
Hyperliquid MANTAlong	+0.0319%	1h	0.07123	long leg	$476K	$234K	3x