Funding arb · Price arb /

MNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.027%

Price spread now: Orderly against Injective−0.383%58s7-day average — · you buy dearer than you sell

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

Long on Injective Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 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. Orderly is 0.383% cheaper against Injective than usual: you would sell low and buy high (spread −0.383% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$38 on $10k: about 7.1 days of funding at the current rate (+$5 a day). The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective MNT/USDC PERP	0.6526	−0.0080	get 0.0010% / 1h	43m 44s	$3K	$210K	12x
Short	Orderly PERP_MNT_USDC	0.6501	0.0100	get 0.0100% / 8h	1h 43m	$1K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Injective. 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 InjectivebpFee OrderlybpOrdersPrice spread, now −0.383%Rate

Funding earned: $37.81
Price spread: −0.383% → 0.000%: −$38.31
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$6.52
Costs to cover: 0.060%
Break-even: 8.2 days

Slippage unknown: Injective: no order-book sample; Orderly: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—

Injective and Orderly: 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	0.6500	−0.399%	$19	—	100x	as long as short
Injective MNT/USDC PERPlong	−0.0080%	1h	0.6526	long leg	$3K	$210K	12x
gTrade (Gains Network) MNT/USD	L +0.0010% / S 0.0000%	1h	0.6501	−0.377%	$781	—	150x	as long as short
Hyperliquid MNT	+0.0100%	1h	0.6512	−0.215%	$6.6M	$903K	5x	as long as short
Bybit MNTUSDT	+0.0100%	8h	0.6502	−0.368%	$42.7M	$14.0M	25x	as long as short
Gate MNT_USDT	+0.0100%	4h	0.6484	−0.644%	$424K	$124K	25x	as long as short
MEXC MNT_USDT	+0.0100%	8h	0.6498	−0.429%	$2.5M	$593K	100x	as long as short
BingX MNT-USDT	+0.0100%	8h	0.6498	−0.429%	—	$2.5M	—	as long as short
Variational Omni MNT	+0.0100%	8h	0.6493	−0.507%	$289K	$120K	—	as long as short
ApeX Omni MNTUSDT	+0.0100%	1h	0.6500	−0.398%	$10K	$641K	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_USDCshort	+0.0100%	8h	0.6501	−0.383%	$1K	—	10x
BloFin MNT-USDT	+0.0220%	8h	0.6493	−0.506%	$89K	$217K	25x	as long as short
Lighter MNT	+0.0264%	1h	0.6520	−0.086%	$140K	$70K	5x	as long as short
Kraken Futures PF_MNTUSD	+0.0318%	1h	0.6527	+0.014%	$17K	$20K	20x	as long as short
Backpack MNT_USDC_PERP	+0.0767%	1h	0.6499	−0.414%	$47K	$44K	10x	as long as short