Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.025%

Price spread now: Hyperliquid against Gate+0.355%7-day average +0.195% · you sell dearer than you buy

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$1091.090% of the position

Long on Gate Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.541%+$54 on $10k

Price spread, last 4 days (all we have)0.000%$0 · spread now +0.355%, 7d avg +0.195%

Together, before fees+0.541%+ Points / potential airdropHyperliquid: Season 2 · farm board+$54 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: Hyperliquid is 0.161% dearer against Gate than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of +0.195%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MNT_USDT	0.6502	0.0100	pay 0.0050% / 4h	2h 18m	$413K	$115K	25x
Short	Hyperliquid MNT	0.6525	0.0100	get 0.0013% / 1h	18m 49s	$6.6M	$896K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Gate. 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 GatebpFee HyperliquidbpOrdersPrice spread, now +0.355%Rate

Funding earned: $0
Price spread: +0.355% → +0.195%: $16.06
Slippage, 4 orders: −$85.05
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$92.99
Costs to cover: 1.090%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; Hyperliquid: live order book, 3 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 Gate live order book, 2 min ago	13.82 bp	37.0 bp −$37	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 3 min ago	1.68 bp	14.5 bp −$15	doesn't fit	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	0.6515	+0.203%	$19	—	100x	as long as short
Injective MNT/USDC PERP	−0.0092%	1h	0.6526	+0.369%	$3K	$210K	12x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6518	+0.249%	$783	—	150x	as long as short
Hyperliquid MNTshort	+0.0100%	1h	0.6525	+0.355%	$6.6M	$896K	5x
Bybit MNTUSDT	+0.0100%	8h	0.6513	+0.177%	$43.0M	$13.6M	25x	as long as short
Gate MNT_USDTlong	+0.0100%	4h	0.6502	long leg	$413K	$115K	25x
MEXC MNT_USDT	+0.0100%	8h	0.6516	+0.215%	$2.5M	$585K	100x	as long as short
BingX MNT-USDT	+0.0100%	8h	0.6513	+0.169%	—	$2.5M	—	as long as short
Variational Omni MNT	+0.0100%	8h	0.6531	+0.448%	$294K	$117K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6529	+0.415%	$11K	$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	0.6517	+0.231%	$1K	—	10x	as long as short
BloFin MNT-USDT	+0.0220%	8h	0.6508	+0.092%	$89K	$217K	25x	as long as short
Kraken Futures PF_MNTUSD	+0.0228%	1h	0.6524	+0.333%	$17K	$20K	20x	as long as short
Lighter MNT	+0.0632%	1h	0.6532	+0.466%	$140K	$70K	5x	as long as short
Backpack MNT_USDC_PERP	+0.0685%	1h	0.6514	+0.185%	$40K	$34K	10x	as long as short