Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.043%

Price spread now: BingX against Hyperliquid−0.204%7-day average −0.155% · you buy dearer than you sell

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$670.672% of the position

Long on Hyperliquid Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.308%−$31 on $10k

Price spread, last 7 days−0.016%−$2 · spread now −0.204%, 7d avg −0.155%

Together, before fees−0.323%+ Points / potential airdropHyperliquid: Season 2 · farm board−$32 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: BingX is 0.049% cheaper against Hyperliquid than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.155%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid MNT	0.6508	0.0100	pay 0.0013% / 1h	39m 17s	$6.6M	$903K	5x
Short	BingX MNT-USDT	0.6495	0.0100	get 0.0100% / 8h	1h 39m	—	$2.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Hyperliquid. 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 HyperliquidbpFee BingXbpOrdersPrice spread, now −0.204%Rate

Funding earned: $0
Price spread: −0.204% → −0.155%: −$4.89
Slippage, 4 orders: −$48.22
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: −$72.1
Costs to cover: 0.672%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 3 min ago; BingX: live order book, 10 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 Hyperliquid live order book, 3 min ago	1.84 bp	17.4 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 10 min ago	1.54 bp	16.4 bp −$16	71.9 bp −$719	261.6 bp −$26.2K	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	0.6500	−0.133%	$19	—	100x	as long as short
Injective MNT/USDC PERP	−0.0080%	1h	0.6526	+0.272%	$3K	$210K	12x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6500	−0.134%	$780	—	150x	as long as short
Hyperliquid MNTlong	+0.0100%	1h	0.6508	long leg	$6.6M	$903K	5x
Bybit MNTUSDT	+0.0100%	8h	0.6497	−0.180%	$42.7M	$14.0M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6482	−0.404%	$423K	$124K	25x	as long as short
MEXC MNT_USDT	+0.0100%	8h	0.6496	−0.189%	$2.5M	$593K	100x	as long as short
BingX MNT-USDTshort	+0.0100%	8h	0.6495	−0.204%	—	$2.5M	—
Variational Omni MNT	+0.0100%	8h	0.6505	−0.055%	$292K	$123K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6502	−0.097%	$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	0.6500	−0.128%	$1K	—	10x	as long as short
BloFin MNT-USDT	+0.0220%	8h	0.6501	−0.112%	$89K	$223K	25x	as long as short
Lighter MNT	+0.0264%	1h	0.6517	+0.131%	$140K	$70K	5x	as long as short
Kraken Futures PF_MNTUSD	+0.0319%	1h	0.6502	−0.091%	$17K	$20K	20x	as long as short
Backpack MNT_USDC_PERP	+0.0789%	1h	0.6500	−0.128%	$46K	$44K	10x	as long as short