Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0583%/8h= −63.8% APRpaid last 24h −0.033%

Price spread now: BloFin against Backpack−0.046%7-day average — · you buy dearer than you sell

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

Long on Backpack Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.452%−$45 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and BloFin is 0.046% cheaper against Backpack than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack MNT_USDC_PERP	0.6492	0.0803	pay 0.0100% / 1h	54m 47s	$48K	$45K	10x
Short	BloFin MNT-USDT	0.6489	0.0220	get 0.0220% / 8h	1h 54m	$90K	$216K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Backpack. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BloFinbpOrdersPrice spread, now −0.046%Rate

Funding earned: −$122.43
Price spread: −0.046% → 0.000%: −$4.62
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$149.05
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Backpack: no order-book sample; BloFin: live order book, 21 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 BloFin live order book, 21 min ago	0.77 bp	11.0 bp −$11	46.4 bp −$464	doesn't fit	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	0.6493	+0.008%	$19	—	100x	as long as short
Injective MNT/USDC PERP	−0.0080%	1h	0.6526	+0.524%	$3K	$210K	12x	as long as short
ApeX Omni MNTUSDT	−0.0025%	1h	0.6469	−0.354%	$10K	$639K	50x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6493	+0.016%	$780	—	150x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6496	+0.069%	$6.6M	$902K	5x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6485	−0.111%	$42.6M	$14.0M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6479	−0.200%	$429K	$119K	25x	as long as short
MEXC MNT_USDT	+0.0100%	8h	0.6485	−0.108%	$2.5M	$593K	100x	as long as short
BingX MNT-USDT	+0.0100%	8h	0.6484	−0.123%	—	$2.5M	—	as long as short
Variational Omni MNT	+0.0100%	8h	0.6474	−0.278%	$288K	$120K	—	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	0.6493	+0.015%	$1K	—	10x	as long as short
Lighter MNT	+0.0176%	1h	0.6508	+0.250%	$140K	$70K	5x	as long as short
BloFin MNT-USDTshort	+0.0220%	8h	0.6489	−0.046%	$90K	$216K	25x
Kraken Futures PF_MNTUSD	+0.0319%	1h	0.6491	−0.023%	$17K	$20K	20x	as long as short
Backpack MNT_USDC_PERPlong	+0.0803%	1h	0.6492	long leg	$48K	$45K	10x