Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0684%/8h= +74.8% APRpaid last 24h +0.050%

Price spread now: Backpack against BingX+0.015%7-day average — · you sell dearer than you buy

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

Long on BingX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.454%+$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: +$21 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.454% in total (about 23.7% 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	BingX MNT-USDT	0.6503	0.0100	pay 0.0100% / 8h	1h 41m	—	$2.5M	—
Short	Backpack MNT_USDC_PERP	0.6504	0.0784	get 0.0098% / 1h	41m 57s	$46K	$44K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against BingX. 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 BingXbpFee BackpackbpOrdersPrice spread, now +0.015%Rate

Funding earned: $143.54
Price spread: +0.015% → 0.000%: $1.54
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: $125.08
Costs to cover: 0.200%
Break-even: 0.9 days

Slippage unknown: BingX: live order book, 8 min ago; Backpack: no order-book sample. 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 BingX live order book, 8 min ago	1.54 bp	16.7 bp −$17	69.4 bp −$694	234.7 bp −$23.5K	doesn't fit
Sell Backpack no order-book sample	—	—	—	—	—

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	0.6505	+0.034%	$19	—	100x	as long as short
Injective MNT/USDC PERP	−0.0080%	1h	0.6526	+0.354%	$3K	$210K	12x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6505	+0.030%	$781	—	150x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6515	+0.185%	$6.6M	$903K	5x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6504	+0.012%	$42.7M	$14.0M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6482	−0.323%	$423K	$124K	25x	as long as short
MEXC MNT_USDT	+0.0100%	8h	0.6502	−0.015%	$2.5M	$593K	100x	as long as short
BingX MNT-USDTlong	+0.0100%	8h	0.6503	long leg	—	$2.5M	—
Variational Omni MNT	+0.0100%	8h	0.6493	−0.156%	$289K	$120K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6498	−0.077%	$10K	$640K	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	0.6505	+0.031%	$1K	—	10x	as long as short
BloFin MNT-USDT	+0.0220%	8h	0.6497	−0.092%	$89K	$223K	25x	as long as short
Lighter MNT	+0.0272%	1h	0.6523	+0.306%	$141K	$70K	5x	as long as short
Kraken Futures PF_MNTUSD	+0.0319%	1h	0.6505	+0.036%	$17K	$20K	20x	as long as short
Backpack MNT_USDC_PERPshort	+0.0784%	1h	0.6504	+0.015%	$46K	$44K	10x