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 Bybit−0.109%7-day average −0.028% · you buy dearer than you sell

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

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.001%$0 on $10k

Price spread, last 3 days (all we have)+0.177%+$18 · spread now −0.109%, 7d avg −0.028%

Together, before fees+0.178%+ Points / potential airdropVariational Omni: Active · farm board+$18 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 0.081% cheaper against Bybit than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MNTUSDT	0.6481	0.0100	pay 0.0100% / 8h	1h 51m	$42.6M	$14.0M	25x
Short	Variational Omni MNT	0.6474	0.0100	get 0.0100% / 8h	1h 51m	$288K	$120K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bybit. 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 BybitbpFee Variational OmnibpOrdersPrice spread, now −0.109%Rate

Funding earned: $0
Price spread: −0.109% → −0.028%: −$8.11
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$19.11
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 3 min ago; Variational Omni: RFQ quote, 33 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 Bybit live order book, 3 min ago	1.54 bp	20.9 bp −$21	78.3 bp −$783	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 33 min ago	3.83 bp	doesn't fit	85.0 bp −$850	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	0.6484	+0.045%	$19	—	100x	as long as short
Injective MNT/USDC PERP	−0.0080%	1h	0.6526	+0.694%	$3K	$210K	12x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6484	+0.048%	$779	—	150x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6492	+0.162%	$6.5M	$902K	5x	as long as short
Bybit MNTUSDTlong	+0.0100%	8h	0.6481	long leg	$42.6M	$14.0M	25x
Gate MNT_USDT	+0.0100%	4h	0.6471	−0.154%	$428K	$119K	25x	as long as short
MEXC MNT_USDT	+0.0100%	8h	0.6479	−0.031%	$2.5M	$593K	100x	as long as short
BingX MNT-USDT	+0.0100%	8h	0.6480	−0.015%	—	$2.5M	—	as long as short
Variational Omni MNTshort	+0.0100%	8h	0.6474	−0.109%	$288K	$120K	—
ApeX Omni MNTUSDT	+0.0100%	1h	0.6484	+0.046%	$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	0.6488	+0.108%	$1K	—	10x	as long as short
Lighter MNT	+0.0184%	1h	0.6501	+0.307%	$140K	$70K	5x	as long as short
BloFin MNT-USDT	+0.0220%	8h	0.6480	−0.015%	$89K	$216K	25x	as long as short
Kraken Futures PF_MNTUSD	+0.0320%	1h	0.6483	+0.027%	$17K	$20K	20x	as long as short
Backpack MNT_USDC_PERP	+0.0708%	1h	0.6482	+0.015%	$48K	$45K	10x	as long as short