Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.032%

Price spread now: Hyperliquid against ApeX Omni+0.286%85s7-day average +0.108% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$680.675% of the position

Long on ApeX Omni Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.274%+$27 on $10k

Price spread, last 4 days (all we have)−0.149%−$15 · spread now +0.286%, 7d avg +0.108%

Together, before fees+0.125%+ Points / potential airdropHyperliquid: Season 2 · farm board+$12 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.178% dearer against ApeX Omni than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of +0.108%. The two prices were read 85 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni MNTUSDT	0.6470	0.0100	pay 0.0013% / 1h	21m 53s	$11K	$644K	50x
Short	Hyperliquid MNT	0.6489	0.0100	get 0.0013% / 1h	21m 53s	$6.5M	$822K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against ApeX Omni. 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 ApeX OmnibpFee HyperliquidbpOrdersPrice spread, now +0.286%Rate

Funding earned: $0
Price spread: +0.286% → +0.108%: $17.84
Slippage, 4 orders: −$48.51
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$49.67
Costs to cover: 0.675%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 29 min ago; Hyperliquid: live order book, 3 min ago.

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 ApeX Omni live order book, 29 min ago	8.53 bp	15.9 bp −$16	95.7 bp −$957	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 3 min ago	3.16 bp	15.0 bp −$15	doesn't fit	doesn't fit	doesn't fit

MNT on 15 exchanges

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
GMX MNT/USD [ETH-USDC]	L −0.2622% / S +0.0192%	1h	0.6479	+0.136%	$19	—	100x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6478	+0.129%	$778	—	150x	as long as short
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	+0.866%	$3K	$210K	12x	as long as short
Hyperliquid MNTshort	+0.0100%	1h	0.6489	+0.286%	$6.5M	$822K	5x
Bybit MNTUSDT	+0.0100%	8h	0.6476	+0.093%	$43.0M	$14.4M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6472	+0.031%	$439K	$175K	25x	as long as short
MEXC MNT_USDC	+0.0100%	8h	0.6474	+0.062%	$2.3M	$108K	125x	as long as short
BingX MNT-USDT	+0.0100%	8h	0.6475	+0.077%	—	$2.6M	—	as long as short
Backpack MNT_USDC_PERP	+0.0100%	1h	0.6478	+0.124%	$36K	$62K	10x	as long as short
Variational Omni MNT	+0.0100%	8h	0.6459	−0.175%	$289K	$104K	—	as long as short

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni MNTUSDTlong	+0.0100%	1h	0.6470	long leg	$11K	$644K	50x
Orderly PERP_MNT_USDC	+0.0100%	8h	0.6480	+0.155%	$1K	$74	10x	as long as short
Lighter MNT	+0.0120%	1h	0.6496	+0.400%	$147K	$71K	5x	as long as short
BloFin MNT-USDT	+0.0308%	8h	0.6461	−0.139%	$91K	$124K	25x	as long as short
Kraken Futures PF_MNTUSD	+0.0655%	1h	0.6484	+0.213%	$16K	$39K	20x	as long as short