Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.090%

Price spread now: Lighter against BingX+0.227%7-day average +0.176% · you sell dearer than you buy

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$870.869% of the position

Long on BingX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.309%+$31 on $10k

Price spread, last 4 days (all we have)−0.073%−$7 · spread now +0.227%, 7d avg +0.176%

Together, before fees+0.235%+ Points / potential airdropLighter: Season 3 · farm board+$24 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: Lighter is 0.051% dearer against BingX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.176%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX MNT-USDT	0.6423	0.0100	pay 0.0100% / 8h	7h 40m	—	$2.6M	—
Short	Lighter MNT	0.6438	0.0096	get 0.0012% / 1h	40m 07s	$146K	$88K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.227%Rate

Funding earned: −$0.84
Price spread: +0.227% → +0.176%: $5.09
Slippage, 4 orders: −$76.9
Fee BingX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$82.65
Costs to cover: 0.869%
Break-even: never at this rate

Slippage from BingX: live order book, 9 min ago; Lighter: live order book, 39 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, 9 min ago	1.55 bp	19.6 bp −$20	83.0 bp −$830	256.4 bp −$25.6K	850.6 bp −$425.3K
Sell Lighter live order book, 39 min ago	9.63 bp	16.0 bp −$16	102.6 bp −$1,026	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	0.6437	+0.224%	$19	—	100x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6422	−0.012%	$771	—	150x	as long as short
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	+1.604%	$3K	$210K	12x	as long as short
Lighter MNTshort	+0.0096%	1h	0.6438	+0.227%	$146K	$88K	5x
Hyperliquid MNT	+0.0100%	1h	0.6431	+0.129%	$6.4M	$923K	5x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6423	0.000%	$42.3M	$15.3M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6420	−0.047%	$451K	$176K	25x	as long as short
MEXC MNT_USDC	+0.0100%	8h	0.6423	0.000%	$2.4M	$104K	125x	as long as short
BingX MNT-USDTlong	+0.0100%	8h	0.6423	long leg	—	$2.6M	—
Backpack MNT_USDC_PERP	+0.0100%	1h	0.6422	−0.016%	$39K	$61K	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MNT	+0.0100%	8h	0.6427	+0.061%	$288K	$111K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6443	+0.311%	$11K	$638K	50x	as long as short
Orderly PERP_MNT_USDC	+0.0100%	8h	0.6430	+0.109%	$1K	$74	10x	as long as short
BloFin MNT-USDT	+0.0301%	8h	0.6428	+0.078%	$91K	$188K	25x	as long as short
Kraken Futures PF_MNTUSD	+0.1533%	1h	0.6426	+0.054%	$16K	$40K	20x	as long as short