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% APRnext payment +$0.00 per $10,000 · paid last 24h −0.001%

Price spread now: Variational Omni against BingX+0.234%7-day average −0.019% · you sell dearer than you buy

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

Long on BingX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.002%$0 on $10k

Price spread, last 3 days (all we have)−0.216%−$22 · spread now +0.234%, 7d avg −0.019%

Together, before fees−0.217%+ Points / potential airdropVariational Omni: Active · farm board−$22 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: Variational Omni is 0.254% dearer against BingX than usual: you sell high and buy low, +$25 on $10k if it goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX MNT-USDT	0.6504	0.0100	pay 0.0100% / 8h	34m 44s	—	$2.5M	—
Short	Variational Omni MNT	0.6519	0.0100	get 0.0100% / 8h	34m 44s	$296K	$169K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.234%Rate

Funding earned: $0
Price spread: +0.234% → −0.019%: $25.39
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $15.39
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: BingX: live order book, 15 min ago; Variational Omni: RFQ quote, 44 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 BingX live order book, 15 min ago	2.30 bp	17.8 bp −$18	28.2 bp −$282	181.3 bp −$18.1K	784.3 bp −$392.2K
Sell Variational Omni RFQ quote, 44 min ago	3.85 bp	doesn't fit	76.3 bp −$763	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	0.6514	+0.149%	$19	—	100x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6515	+0.162%	$782	—	150x	as long as short
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	+0.338%	$3K	$210K	12x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6521	+0.261%	$6.6M	$947K	5x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6507	+0.046%	$42.8M	$14.5M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6488	−0.246%	$406K	$147K	25x	as long as short
MEXC MNT_USDT	+0.0100%	8h	0.6509	+0.077%	$2.5M	$586K	100x	as long as short
BingX MNT-USDTlong	+0.0100%	8h	0.6504	long leg	—	$2.5M	—
Variational Omni MNTshort	+0.0100%	8h	0.6519	+0.234%	$296K	$169K	—
ApeX Omni MNTUSDT	+0.0100%	1h	0.6546	+0.646%	$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	0.6521	+0.261%	$1K	—	10x	as long as short
BloFin MNT-USDT	+0.0220%	8h	0.6510	+0.092%	$89K	$218K	25x	as long as short
Lighter MNT	+0.0424%	1h	0.6527	+0.352%	$142K	$69K	5x	as long as short
Kraken Futures PF_MNTUSD	+0.0647%	1h	0.6520	+0.243%	$17K	$20K	20x	as long as short
Backpack MNT_USDC_PERP	+0.0863%	1h	0.6511	+0.108%	$40K	$46K	10x	as long as short