Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0604%/8h= −66.1% APRpaid last 24h −0.043%

Price spread now: BingX against Backpack0.000%7-day average — · you sell dearer than you buy

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

Long on Backpack Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.447%−$45 on $10k

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

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$18 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack MNT_USDC_PERP	0.6472	0.0704	pay 0.0088% / 1h	56m 40s	$48K	$44K	10x
Short	BingX MNT-USDT	0.6472	0.0100	get 0.0100% / 8h	1h 56m	—	$2.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Backpack. 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 BackpackbpFee BingXbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$126.75
Price spread: 0.000% → 0.000%: $0
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$146.75
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Backpack: no order-book sample; BingX: live order book, 8 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 Backpack no order-book sample	—	—	—	—	—
Sell BingX live order book, 8 min ago	3.09 bp	25.2 bp −$25	82.9 bp −$829	326.0 bp −$32.6K	doesn't fit

Backpack: 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.

MNT on 15 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
GMX MNT/USD [ETH-USDC]	L −0.2622% / S +0.0192%	1h	0.6476	+0.069%	$19	—	100x	as long as short
Injective MNT/USDC PERP	−0.0080%	1h	0.6526	+0.834%	$3K	$210K	12x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6476	+0.066%	$778	—	150x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6486	+0.218%	$6.5M	$903K	5x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6476	+0.062%	$42.5M	$14.0M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6463	−0.139%	$428K	$119K	25x	as long as short
MEXC MNT_USDT	+0.0100%	8h	0.6474	+0.031%	$2.5M	$592K	100x	as long as short
BingX MNT-USDTshort	+0.0100%	8h	0.6472	0.000%	—	$2.5M	—
Variational Omni MNT	+0.0100%	8h	0.6469	−0.050%	$288K	$120K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6472	0.000%	$10K	$639K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_MNT_USDC	+0.0100%	8h	0.6481	+0.139%	$1K	—	10x	as long as short
BloFin MNT-USDT	+0.0220%	8h	0.6469	−0.046%	$90K	$216K	25x	as long as short
Lighter MNT	+0.0256%	1h	0.6496	+0.372%	$139K	$69K	5x	as long as short
Kraken Futures PF_MNTUSD	+0.0320%	1h	0.6483	+0.171%	$17K	$20K	20x	as long as short
Backpack MNT_USDC_PERPlong	+0.0704%	1h	0.6472	long leg	$48K	$44K	10x