Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0644%/8h= −70.5% APRpaid last 24h −0.032%

Price spread now: Gate against Backpack−0.262%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 Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.687%−$69 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 −$19 a day on $10k at the current rate, and Gate is 0.262% cheaper against Backpack than usual: you would sell low and buy high (−$26 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	0.6491	0.0744	pay 0.0093% / 1h	2m 47s	$41K	$45K	10x
Short	Gate MNT_USDT	0.6474	0.0100	get 0.0050% / 4h	1h 02m	$409K	$139K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.262%Rate

Funding earned: −$135.28
Price spread: −0.262% → 0.000%: −$26.19
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$186.47
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: Backpack: no order-book sample; Gate: live order book, 13 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 Gate live order book, 13 min ago	11.58 bp	31.6 bp −$32	doesn't fit	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	0.6492	+0.021%	$19	—	100x	as long as short
Injective MNT/USDC PERP	−0.0080%	1h	0.6526	+0.539%	$3K	$210K	12x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6494	+0.051%	$780	—	150x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6502	+0.166%	$6.5M	$920K	5x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6489	−0.031%	$42.5M	$14.1M	25x	as long as short
Gate MNT_USDTshort	+0.0100%	4h	0.6474	−0.262%	$409K	$139K	25x
MEXC MNT_USDT	+0.0100%	8h	0.6489	−0.031%	$2.5M	$597K	100x	as long as short
BingX MNT-USDT	+0.0100%	8h	0.6486	−0.077%	—	$2.5M	—	as long as short
Variational Omni MNT	+0.0100%	8h	0.6488	−0.052%	$271K	$146K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6486	−0.077%	$10K	$632K	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	0.6496	+0.077%	$1K	—	10x	as long as short
BloFin MNT-USDT	+0.0220%	8h	0.6489	−0.031%	$89K	$222K	25x	as long as short
Lighter MNT	+0.0288%	1h	0.6511	+0.302%	$140K	$70K	5x	as long as short
Kraken Futures PF_MNTUSD	+0.0318%	1h	0.6520	+0.454%	$17K	$20K	20x	as long as short
Backpack MNT_USDC_PERPlong	+0.0744%	1h	0.6491	long leg	$41K	$45K	10x