Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.043%

Price spread now: Hyperliquid against BingX+0.220%7-day average +0.157% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$660.661% of the position

Long on BingX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.308%+$31 on $10k

Price spread, last 7 days+0.032%+$3 · spread now +0.220%, 7d avg +0.157%

Together, before fees+0.340%+ Points / potential airdropHyperliquid: Season 2 · farm board+$34 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 0.063% dearer against BingX than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.157%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX MNT-USDT	0.6546	0.0100	pay 0.0100% / 8h	37m 25s	—	$2.5M	—
Short	Hyperliquid MNT	0.6560	0.0100	get 0.0013% / 1h	37m 25s	$6.6M	$940K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BingX. 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 BingXbpFee HyperliquidbpOrdersPrice spread, now +0.220%Rate

Funding earned: $0
Price spread: +0.220% → +0.157%: $6.33
Slippage, 4 orders: −$47.15
Fee BingX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$59.81
Costs to cover: 0.661%
Break-even: never at this rate

Slippage from BingX: live order book, 12 min ago; Hyperliquid: live order book, 5 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 BingX live order book, 12 min ago	2.30 bp	17.8 bp −$18	28.2 bp −$282	181.3 bp −$18.1K	784.3 bp −$392.2K
Sell Hyperliquid live order book, 5 min ago	0.76 bp	19.4 bp −$19	doesn't fit	doesn't fit	doesn't fit

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	0.6548	+0.036%	$19	—	100x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6551	+0.071%	$786	—	150x	as long as short
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	−0.306%	$3K	$210K	12x	as long as short
Hyperliquid MNTshort	+0.0100%	1h	0.6560	+0.220%	$6.6M	$940K	5x
Bybit MNTUSDT	+0.0100%	8h	0.6549	+0.046%	$43.1M	$14.4M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6525	−0.321%	$408K	$147K	25x	as long as short
MEXC MNT_USDT	+0.0100%	8h	0.6546	0.000%	$2.5M	$586K	100x	as long as short
BingX MNT-USDTlong	+0.0100%	8h	0.6546	long leg	—	$2.5M	—
Variational Omni MNT	+0.0100%	8h	0.6535	−0.173%	$295K	$169K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6548	+0.031%	$11K	$630K	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	0.6554	+0.122%	$1K	—	10x	as long as short
BloFin MNT-USDT	+0.0220%	8h	0.6548	+0.031%	$89K	$220K	25x	as long as short
Lighter MNT	+0.0384%	1h	0.6567	+0.319%	$143K	$69K	5x	as long as short
Kraken Futures PF_MNTUSD	+0.0645%	1h	0.6547	+0.022%	$17K	$20K	20x	as long as short
Backpack MNT_USDC_PERP	+0.0914%	1h	0.6548	+0.031%	$40K	$46K	10x	as long as short