Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.2722%/8h= +298.1% APRpaid last 24h +0.730%

Price spread now: BingX against GMX−0.096%7-day average — · you buy dearer than you sell

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

Long on GMX Short on BingX

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. BingX is 0.096% cheaper against GMX than usual: you would sell low and buy high (spread −0.096% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 3 hours of funding at the current rate (+$82 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX MNT/USD [ETH-USDC]	0.6512	L −0.2622% / S +0.0192%	get 0.0328% / 1h	56m 51s	$19	—	100x
Short	BingX MNT-USDT	0.6506	0.0100	get 0.0100% / 8h	56m 51s	—	$2.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against GMX. 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 GMXbpFee BingXbpOrdersPrice spread, now −0.096%Rate

Funding earned: $571.65
Price spread: −0.096% → 0.000%: −$9.6
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: $540.05
Costs to cover: 0.220%
Break-even: 0.4 days

Slippage unknown: GMX: no order-book sample; BingX: live order book, 2 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 GMX no order-book sample	—	—	—	—	—
Sell BingX live order book, 2 min ago	1.54 bp	23.3 bp −$23	86.2 bp −$862	274.8 bp −$27.5K	doesn't fit

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]long	L −0.2622% / S +0.0192%	1h	0.6512	long leg	$19	—	100x
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6512	−0.005%	$782	—	150x	as long as short
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	+0.211%	$3K	$210K	12x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6521	+0.137%	$6.6M	$931K	5x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6508	−0.061%	$42.7M	$14.1M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6487	−0.388%	$409K	$139K	25x	as long as short
MEXC MNT_USDT	+0.0100%	8h	0.6508	−0.065%	$2.5M	$585K	100x	as long as short
BingX MNT-USDTshort	+0.0100%	8h	0.6506	−0.096%	—	$2.5M	—
Variational Omni MNT	+0.0100%	8h	0.6489	−0.363%	$271K	$146K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6496	−0.250%	$10K	$633K	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	0.6512	−0.004%	$1K	—	10x	as long as short
BloFin MNT-USDT	+0.0220%	8h	0.6504	−0.127%	$89K	$218K	25x	as long as short
Lighter MNT	+0.0336%	1h	0.6527	+0.233%	$141K	$67K	5x	as long as short
Kraken Futures PF_MNTUSD	+0.0647%	1h	0.6526	+0.210%	$17K	$20K	20x	as long as short
Backpack MNT_USDC_PERP	+0.0971%	1h	0.6510	−0.035%	$42K	$45K	10x	as long as short