Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0090%/8h= +9.9% APRpaid last 24h +0.007%

Price spread now: Bybit against gTrade (Gains Network)−0.028%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on Bybit

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

Funding pays, the price is against you. Bybit is 0.028% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.028% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 25 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) MNT/USD	0.6507	L +0.0010% / S 0.0000%	pay 0.0001% / 1h	3m 57s	$781	—	150x
Short	Bybit MNTUSDT	0.6505	0.0100	get 0.0100% / 8h	3m 57s	$42.8M	$14.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BybitbpOrdersPrice spread, now −0.028%Rate

Funding earned: $18.91
Price spread: −0.028% → 0.000%: −$2.8
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$4.88
Costs to cover: 0.210%
Break-even: 8.8 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Bybit: live order book, 5 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Bybit live order book, 5 min ago	0.77 bp	12.0 bp −$12	85.5 bp −$855	doesn't fit	doesn't fit

gTrade (Gains Network): 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]	L −0.2622% / S +0.0192%	1h	0.6507	+0.003%	$19	—	100x	as long as short
gTrade (Gains Network) MNT/USDlong	L +0.0010% / S 0.0000%	1h	0.6507	long leg	$781	—	150x
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	+0.295%	$3K	$210K	12x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6517	+0.163%	$6.7M	$1.0M	5x	as long as short
Bybit MNTUSDTshort	+0.0100%	8h	0.6505	−0.028%	$42.8M	$14.5M	25x
Gate MNT_USDT	+0.0100%	4h	0.6485	−0.335%	$413K	$152K	25x	as long as short
MEXC MNT_USDT	+0.0100%	8h	0.6504	−0.043%	$2.5M	$589K	100x	as long as short
BingX MNT-USDT	+0.0100%	8h	0.6503	−0.059%	—	$2.5M	—	as long as short
Variational Omni MNT	+0.0100%	8h	0.6502	−0.080%	$294K	$168K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6512	+0.080%	$11K	$634K	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	0.6514	+0.110%	$1K	—	10x	as long as short
BloFin MNT-USDT	+0.0220%	8h	0.6506	−0.013%	$89K	$219K	25x	as long as short
Lighter MNT	+0.0472%	1h	0.6524	+0.267%	$140K	$71K	5x	as long as short
Kraken Futures PF_MNTUSD	+0.0646%	1h	0.6536	+0.454%	$17K	$20K	20x	as long as short
Backpack MNT_USDC_PERP	+0.0749%	1h	0.6505	−0.028%	$39K	$47K	10x	as long as short