Funding arb · Price arb /

MANTA

all MANTA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.4549%/8h= +498.1% APRpaid last 24h +1.195%

Price spread now: Bybit against Injective+1.059%7-day average — · you sell dearer than you buy

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

Long on Injective Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+2.510%+$251 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$136 a day on $10k at the current rate, and Bybit is 1.059% dearer against Injective than usual: you sell high and buy low: +$106 more if the spread goes back to zero (this spread has no 7-day history yet).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 2.510% in total (about 130.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective MANTA/USDC PERP	0.06987	−0.4449	get 0.0556% / 1h	43m 03s	$2K	$40K	5.5x
Short	Bybit MANTAUSDT	0.07061	0.0100	get 0.0050% / 4h	1h 43m	$3.3M	$831K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Injective. 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 InjectivebpFee BybitbpOrdersPrice spread, now +1.059%Rate

Funding earned: $955.26
Price spread: +1.059% → 0.000%: $105.91
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $1,050.15
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Bybit: live order book, 4 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 Injective no order-book sample	—	—	—	—	—
Sell Bybit live order book, 4 min ago	4.26 bp	63.6 bp −$64	568.2 bp −$5,682	doesn't fit	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 PERPlong	−0.4449%	1h	0.06987	long leg	$2K	$40K	5.5x
BloFin MANTA-USDT	+0.0094%	4h	0.07080	+1.331%	$325K	$24K	50x	as long as short
Hyperliquid MANTA	+0.0100%	1h	0.07083	+1.374%	$473K	$217K	3x	as long as short
Aster MANTAUSDT	+0.0100%	4h	0.07064	+1.102%	$5K	$7K	5x	as long as short
Binance MANTAUSDT	+0.0100%	4h	0.07074	+1.244%	$5.5M	$4.6M	50x	as long as short
Bybit MANTAUSDTshort	+0.0100%	4h	0.07061	+1.059%	$3.3M	$831K	25x
Gate MANTA_USDT	+0.0100%	4h	0.07060	+1.045%	$206K	$141K	50x	as long as short
MEXC MANTA_USDT	+0.0100%	4h	0.07075	+1.259%	$13.6M	$643K	50x	as long as short
KuCoin MANTAUSDTM	+0.0100%	4h	0.07057	+1.002%	$235K	$53K	50x	as long as short
Variational Omni MANTA	+0.0100%	4h	0.07037	+0.719%	$17K	$3K	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MANTAUSDT	+0.0256%	4h	0.07077	+1.288%	$3.2M	$376K	50x	as long as short
BingX MANTA-USDT	+0.0266%	4h	0.07063	+1.088%	—	$1.5M	—	as long as short