Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.2722%/8h= +298.1% APRpaid last 24h +0.728%

Price spread now: Bybit against GMX+0.023%7-day average — · you sell dearer than you buy

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

Long on GMX 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

Both sides work for this trade now. Funding pays +$82 a day on $10k at the current rate, and Bybit is 0.023% dearer against GMX than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX MNT/USD [ETH-USDC]	0.6517	L −0.2622% / S +0.0192%	get 0.0328% / 1h	50m 06s	$19	—	100x
Short	Bybit MNTUSDT	0.6518	0.0100	get 0.0100% / 8h	2h 50m	$43.0M	$13.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.023%Rate

Funding earned: $571.65
Price spread: +0.023% → 0.000%: $2.29
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $550.94
Costs to cover: 0.230%
Break-even: 0.3 days

Slippage unknown: GMX: no order-book sample; Bybit: live order book, 4 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 Bybit live order book, 4 min ago	1.53 bp	18.0 bp −$18	80.4 bp −$804	doesn't fit	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	0.6517	long leg	$19	—	100x
Injective MNT/USDC PERP	−0.0092%	1h	0.6522	+0.084%	$3K	$171K	12x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6518	+0.022%	$783	—	150x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6527	+0.155%	$6.6M	$890K	5x	as long as short
Bybit MNTUSDTshort	+0.0100%	8h	0.6518	+0.023%	$43.0M	$13.6M	25x
Gate MNT_USDT	+0.0100%	4h	0.6502	−0.223%	$413K	$115K	25x	as long as short
MEXC MNT_USDT	+0.0100%	8h	0.6514	−0.039%	$2.5M	$583K	100x	as long as short
BingX MNT-USDT	+0.0100%	8h	0.6512	−0.069%	—	$2.5M	—	as long as short
Variational Omni MNT	+0.0100%	8h	0.6516	−0.015%	$294K	$117K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6513	−0.054%	$11K	$639K	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	0.6527	+0.161%	$1K	—	10x	as long as short
BloFin MNT-USDT	+0.0220%	8h	0.6519	+0.038%	$89K	$218K	25x	as long as short
Kraken Futures PF_MNTUSD	+0.0228%	1h	0.6521	+0.065%	$17K	$20K	20x	as long as short
Lighter MNT	+0.0432%	1h	0.6533	+0.248%	$136K	$66K	5x	as long as short
Backpack MNT_USDC_PERP	+0.0656%	1h	0.6517	+0.008%	$40K	$35K	10x	as long as short