Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.045%

Price spread now: MEXC against Hyperliquid−0.149%7-day average −0.200% · you buy dearer than you sell

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$500.499% of the position

Long on Hyperliquid Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.315%−$31 on $10k

Price spread, last 7 days+0.049%+$5 · spread now −0.149%, 7d avg −0.200%

Together, before fees−0.266%+ Points / potential airdropHyperliquid: Season 2 · farm board−$27 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: MEXC is 0.051% dearer against Hyperliquid than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.200%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid MNT	0.6435	0.0100	pay 0.0013% / 1h	14m 42s	$6.4M	$924K	5x
Short	MEXC MNT_USDC	0.6425	0.0100	get 0.0100% / 8h	14m 42s	$2.4M	$109K	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.149%Rate

Funding earned: $0
Price spread: −0.149% → −0.200%: $5.05
Slippage, 4 orders: −$32.94
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee MEXC: 4 bp × 2 orders: −$8
Net: −$44.89
Costs to cover: 0.499%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 7 min ago; MEXC: live order book, 2 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, 7 min ago	1.17 bp	12.8 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	2.34 bp	12.0 bp −$12	56.9 bp −$569	166.9 bp −$16.7K	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	0.6419	−0.240%	$19	—	100x	as long as short
Kraken Futures PF_MNTUSD	−0.0088%	1h	0.6435	+0.010%	$16K	$40K	20x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6420	−0.226%	$771	—	150x	as long as short
Injective MNT/USDC PERP	+0.0033%	1h	0.6526	+1.420%	$3K	$210K	12x	as long as short
Lighter MNT	+0.0096%	1h	0.6441	+0.092%	$146K	$90K	5x	as long as short
Hyperliquid MNTlong	+0.0100%	1h	0.6435	long leg	$6.4M	$924K	5x
Bybit MNTUSDT	+0.0100%	8h	0.6426	−0.134%	$42.3M	$15.2M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6419	−0.242%	$451K	$180K	25x	as long as short
MEXC MNT_USDCshort	+0.0100%	8h	0.6425	−0.149%	$2.4M	$109K	125x
BingX MNT-USDT	+0.0100%	8h	0.6425	−0.149%	—	$2.6M	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Backpack MNT_USDC_PERP	+0.0100%	1h	0.6422	−0.196%	$40K	$61K	10x	as long as short
Variational Omni MNT	+0.0100%	8h	0.6421	−0.219%	$287K	$112K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6418	−0.258%	$11K	$636K	50x	as long as short
Orderly PERP_MNT_USDC	+0.0100%	8h	0.6421	−0.211%	$1K	$74	10x	as long as short
BloFin MNT-USDT	+0.0303%	8h	0.6422	−0.196%	$91K	$222K	25x	as long as short