Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.011%

Price spread now: BingX against Injective−0.306%7-day average −0.238% · you buy dearer than you sell

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

Long on Injective Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.062%+$6 on $10k

Price spread, last 3 days (all we have)+2.080%+$208 · spread now −0.306%, 7d avg −0.238%

Together, before fees+2.142%+$214 on $10k · with fees, hour by hour

Funding pays, the price is against you. BingX is 0.069% cheaper against Injective than usual: you would sell low and buy high (spread −0.306% now, against its 7-day average of −0.238%). If the spread goes back, that is −$7 on $10k: about 3.4 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.062% in total) that is about 7.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective MNT/USDC PERP	0.6526	0.0033	pay 0.0004% / 1h	8m 44s	$3K	$210K	12x
Short	BingX MNT-USDT	0.6506	0.0100	get 0.0100% / 8h	8m 44s	—	$2.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Injective. 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 InjectivebpFee BingXbpOrdersPrice spread, now −0.306%Rate

Funding earned: $14
Price spread: −0.306% → −0.238%: −$6.89
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BingX: 5 bp × 2 orders: −$10
Net: −$2.91
Costs to cover: 0.100%
Break-even: 8.5 days

Slippage unknown: Injective: no order-book sample; BingX: live order book, 11 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 Injective no order-book sample	—	—	—	—	—
Sell BingX live order book, 11 min ago	2.31 bp	18.9 bp −$19	79.9 bp −$799	311.4 bp −$31.1K	doesn't fit

Injective: 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]	L −0.2622% / S +0.0192%	1h	0.6513	−0.206%	$19	—	100x	as long as short
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6512	−0.217%	$782	—	150x	as long as short
Injective MNT/USDC PERPlong	+0.0033%	1h	0.6526	long leg	$3K	$210K	12x
Hyperliquid MNT	+0.0100%	1h	0.6522	−0.060%	$6.7M	$1.0M	5x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6510	−0.245%	$42.9M	$14.5M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6491	−0.536%	$407K	$148K	25x	as long as short
MEXC MNT_USDT	+0.0100%	8h	0.6508	−0.276%	$2.5M	$588K	100x	as long as short
BingX MNT-USDTshort	+0.0100%	8h	0.6506	−0.306%	—	$2.5M	—
Variational Omni MNT	+0.0100%	8h	0.6509	−0.267%	$294K	$169K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6516	−0.153%	$11K	$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	0.6513	−0.199%	$1K	—	10x	as long as short
BloFin MNT-USDT	+0.0220%	8h	0.6508	−0.276%	$89K	$219K	25x	as long as short
Lighter MNT	+0.0472%	1h	0.6529	+0.052%	$140K	$71K	5x	as long as short
Kraken Futures PF_MNTUSD	+0.0646%	1h	0.6528	+0.038%	$17K	$20K	20x	as long as short
Backpack MNT_USDC_PERP	+0.0779%	1h	0.6509	−0.260%	$39K	$47K	10x	as long as short