Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0292%/8h= −31.9% APRpaid last 24h −0.064%

Price spread now: GMX against Bybit+0.053%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. GMX is 0.053% dearer against Bybit than usual: you sell high and buy low (spread +0.053% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 14 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MNTUSDT	0.6455	0.0100	pay 0.0100% / 8h	4h 51m	$42.3M	$14.7M	25x
Short	GMX MNT/USD [ETH-USDC]	0.6458	L −0.2622% / S +0.0192%	pay 0.0024% / 1h	51m 17s	$19	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bybit. 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 BybitbpFee GMXbpOrdersPrice spread, now +0.053%Rate

Funding earned: −$61.26
Price spread: +0.053% → 0.000%: $5.28
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GMX: 6 bp × 2 orders: −$12
Net: −$78.98
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 3 min ago; GMX: 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 Bybit live order book, 3 min ago	0.77 bp	18.8 bp −$19	71.4 bp −$714	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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]short	L −0.2622% / S +0.0192%	1h	0.6458	+0.053%	$19	—	100x
Kraken Futures PF_MNTUSD	−0.0566%	1h	0.6454	−0.015%	$16K	$28K	20x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6459	+0.059%	$776	—	150x	as long as short
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	+1.100%	$3K	$210K	12x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6467	+0.184%	$6.6M	$879K	5x	as long as short
Bybit MNTUSDTlong	+0.0100%	8h	0.6455	long leg	$42.3M	$14.7M	25x
Gate MNT_USDT	+0.0100%	4h	0.6448	−0.108%	$432K	$173K	25x	as long as short
MEXC MNT_USDC	+0.0100%	8h	0.6457	+0.031%	$2.4M	$104K	125x	as long as short
BingX MNT-USDT	+0.0100%	8h	0.6454	−0.015%	—	$2.5M	—	as long as short
Backpack MNT_USDC_PERP	+0.0100%	1h	0.6455	0.000%	$41K	$57K	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	0.6467	+0.193%	$287K	$173K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6468	+0.201%	$11K	$645K	50x	as long as short
Orderly PERP_MNT_USDC	+0.0100%	8h	0.6459	+0.062%	$1K	—	10x	as long as short
BloFin MNT-USDT	+0.0220%	8h	0.6459	+0.062%	$90K	$212K	25x	as long as short
Lighter MNT	+0.0424%	1h	0.6475	+0.313%	$141K	$75K	5x	as long as short